These are trying economic times and simply turning on the television can put you in a state of depression. You may be a casualty of a layoff at work, a downsizing or a flat out firing and you still have to pay that stack of bills that are piling up on your counter. The temptation to cut your car insurance coverage to save money may end up costing you more in the end than it saves you today.

You may be tempted to raise your auto insurance deductibles to save a few hundred dollars on your car insurance, but is this really a good idea? Let’s take a look at the benefits of both scenarios. Read the rest of this entry

Insurance is a personal matter and finding the right insurance agent is an important decision. Licensed insurance agents are trained to help you analyze your insurance needs and make coverage recommendations based on your personal or financial situation.

With so many TV commercials, newspaper and radio ads and unsolicited mailings to your home, how do you decide which insurance agent will best serve your needs? Here are a few ways to make sure the agent you choose fits the bill.

Captive Agent or Independent Agent?

Captive agents represent one insurance company and can only provide you price quotes and financial services from their one contracted company. They cannot “shop around” your insurance coverages with other companies. Examples of captive agents are State Farm agents, Farm Bureau agents and most Allstate agents.

Independent agents are appointed with multiple insurance companies and can quote your coverage with many different companies. They are not obligated to place your coverage with any particular company, and the choice is up to you. Read the rest of this entry

As winter weather grips the majority of the U.S., hopefully you’ve already taken the time to make sure your car is winterized and ready for the harsh conditions. We frequently check our tire pressure, our battery and make sure we have an emergency roadside kit in our trunk, but how many of us take the time to do a winter-time car insurance checkup? Read the rest of this entry

I was watching TV last night and I happened to see an Allstate car insurance commercial that was a little more direct than just saying they could save you X dollars or asking if you’re in good hands. Allstate’s commercial spokesman, Dennis Haysbert, who is also the lead actor in “The Unit” on CBS, makes the statement that car insurance buyers who switched to Allstate from GEICO saved an average of $581 a year on their auto insurance. Read the rest of this entry

Think again.  That three, five or even seven hundred dollar GPS navigation unit that does everything but steer the wheel is essentially uninsured while in full view of anyone looking in your windshield.

Why do I say essentially? Ok, there is coverage actually, but it probably doesn’t come from your car insurance policy. Coverage may be provided by your homeowner’s or renter’s policy under your personal property coverage. BUT, and this is a big but (no pun intended), you need to exceed your homeowner’s policy deductible before you even have a claim. Read the rest of this entry

When buying car insurance from an agent, there are different types of agents you can choose from. Agents who write with companies like State Farm and Farm Bureau Insurance are captive agents, which means they only write for one company. They do not have access to car insurance rates of any other companies, so they cannot comparison shop your coverage for you.

Independent agents, on the other hand, write for many different insurance companies. They may have contracts with companies such as Travelers, Nationwide, Allstate and many other smaller regional companies. When shopping for car insurance, independent agents can quote your coverage with several companies and get you the lowest rate possible with their companies. The do not have access to the captive company rates, so in order to get the most comprehensive rate comparison, it’s a good idea to get quotes from both captive and independent agents. Read the rest of this entry

Buying car insurance online has transformed the way auto insurance is advertised, sold and delivered. Your only option used to be calling or stopping by your local insurance agent’s office. Advertising was much more location-focused with large companies attempting to push the consumer to their local representative.

Nowadays, advertising efforts are directed at getting the consumer onto a website or calling an 800 number and buying insurance direct from the company. Buying car insurance online is as simple as browsing to any number of online auto insurance websites, but is it for you? Are you comfortable enough with what you know about car insurance to make your own decisions about deductibles and liability limits? Read the rest of this entry

If you own a “classic” car, which could be considered anything over about 25 years old, you could save money on your car insurance by buying specialized classic car insurance.

There are two ways to find insurance for your older vehicles. The first is to check with your current insurance company to see if they have a rating classification for classic or antique autos. This rate will be significantly less than a pleasure use rate, but it may also come with some mileage or usage limitations.

The other way to insure your classic car is to use an insurance company that specializes in insuring restored vehicles. Their policies have unique coverages that may not be available with an ordinary car insurance policy. Here’s a breakdown of some of the categories of classic vehicles you might want special coverage for: Read the rest of this entry

The world of car customization has gone mainstream with TV shows like West Coast Customs, OverHaulin and Pimp My Ride. But when you shell out the cash for your custom 24′s, the widescreen headrest LCD’s and the hood bling, what happens if (when) it gets stolen? Will your car insurance company pay you the actual cash value of your pimped out ride or the original shell of a car it was before you pumped 30 grand into it?

Custom parts and equipment are an often overlooked part of auto insurance, and many consumers mistakenly assume their new spinners are automatically covered by their car insurance policy. You need to know that car insurance companies settle losses on an actual cash value basis, which means they take the cost to replace your car and subtract out depreciation or “wear-and-tear”. If you tricked out your ’83 Olds, you will get paid the actual cash value of your ’83 Olds… which isn’t much. Read the rest of this entry

Women may get the brunt of jokes from their husbands about how bad their driving is, but do insurance companies actually give lower rates to women because they are better drivers?

If you compare male and female drivers in the same age groups, female drivers tend to have fewer accidents and traffic violations as compared to their male counterparts. Men tend to exhibit riskier driving habits such as being more aggressive, driving faster, and getting behind the wheel while intoxicated. These tendancies are the difference between males and females, as males tend to vent their anger more directly than women, as well as show an increased disregard for traffic laws. Read the rest of this entry