For the third consectutive quarter, RateWatch from Insurance.com has shown an upward trend in car insurance rates, reversing the downward trend of 2007. On average, the lowest car insurance rates for the third quarter of 2008 rose $56 over the previous quarter.

Does this mean your car insurance rates are going to go up? Not necessarily, and actually it could mean your rates are going down! The national average rate increase was 3%, with the largest increases coming in Washington D.C. (8.3%), Nebraska (8.0%), Rhode Island (7.4%), Kansas (6.6%) and Florida (4.9%). The largest car insurance rate decreases came in North Dakota (-7.8%), West Virginia (-7.0%), Wyoming (–4.5%), Alabama (-3.3%) and Vermont (-3.2%). Read the rest of this entry

The stock market has sank 40% in the past year, your 401K has probably fell a similar amount. You hear about how bad things are every day in the news, but one positive thing you can do to help your personal financial situation is to review your home and auto insurance coverages. There isn’t much you can do to bring the markets back, but you can make sure you have adequate coverages at the lowest rates available on your home insurance and car insurance policies.

People have a tendency to put off the occassional financial tuneup, thinking their coverages are adequate. But with increases in construction costs over the last few years, your home may be underinsured and you may not know it. It’s important to recalculate the replacement cost of your home every few years. Your home insurance policy may have an annual cost of living increase, which bumps up your home’s insured value automatically. If it doesn’t, however, then you need to make the adjustment yourself by increasing the insured value by an amount you are comfortable with. You agent or insurance company can help you calculate the replacement cost of your home using sophisticated replacement cost software that is continuously updated by the software provider. Read the rest of this entry

As we come to the end of 2008, you’ll undoubtedly be making a few New Year’s resolutions. It’s the perfect time to add cutting your auto insurance premiums to the list of “to-do’s” in 2009.

Car insurance companies adjust their rates on a regular basis, and the great deal you got a year or two ago may not be the lowest auto insurance rate today. If you’ve maintained a good driving record and kept your credit rating above par, then now is a great time to find out if you can save some money on your car insurance rates. Read the rest of this entry