Archive for the ‘auto insurance’ Category

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Peak Deer Season is Here

November 2nd, 2011 by Iris | Comments Off | Filed in auto insurance

The Virginia Farm Bureau wants motorists to be on the lookout for deer on roads and highways, especially in rural areas, during this time of year.

Why is this a concern? November is the peak time for car-vs.-deer collisions, and Virginia is one of the top ten states for such accidents. Virginia Farm Bureau Mutual Insurance Company handled more than 3,000 such claims last year, and the average loss per claim was over $2,100.

October and December are also high-traffic times of year for deer crossing, the Farm Bureau says.

Across the country, deer-related collisions result in about 150 (human) deaths and about $4.6 billion in auto insurance claims every year.

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Allstate Launches Identity Theft Coverage in California

September 2nd, 2011 by Iris | Comments Off | Filed in auto insurance, insurance specialists

According to several sources, there are roughly nine million Americans who are victims of identity theft every year, resulting in millions of hours spent trying to resolve the issues associated with having your identity stolen.

As a measure of protection, Allstate Insurance Company is offering its customers in California coverage to help mitigate the expense of identity theft, and reduce the time spent recovering their identities, as well.

The program, which is referred to as “identity theft expenses coverage” went into affect in late August, and is available to new and renewing Allstate auto insurance policyholders in California. With a starting premium of $30/year, the coverage will give customers access to “professional identity restoration assistance.”

It also provides a maximum of $25,000 in reimbursement coverage for attorney fees, loan reapplication fees, credit fees, police report fees, lost wages, and any other reasonable expenses associated with the restoration of identity.

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Friday FilmStrip: Insurance and College Students

August 26th, 2011 by Iris | Comments Off | Filed in advice and how-tos, auto insurance, friday filmstrips, health insurance

School children around the country were back in the classroom earlier this week, which means if your college student hasn’t already gone back to school (or gone for the first time) he or she will be leaving soon.

When getting your college student ready to go, don’t overlook the insurance. This video gives you an idea of the insurance considerations for college students. Enjoy!

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Experts estimate $285 million in Hail Damage in CO and WY

July 21st, 2011 by Iris | Comments Off | Filed in auto insurance, homeowners insurance

While the American Southwest is socked in by temperatures in the triple-digits and a crippling drought, Colorado and Wyoming faced “monsoon rainfall” and hailstorms two weeks ago. The hail, in particular, has been costly, with insured losses from the falling ice totaling about $285 million, according to the Rocky Mountain Insurance Information Association.

In Cheyenne, WY, the tennis ball-sized hail that pelted the city on July 11th caused an estimated $120 million in insured losses, including 4,600 homeowners insurance claims and 15,200 auto insurance claims, though that number is still preliminary.

Much of the damage to vehicles was related to the fact that the hailstorm struck during rush hour, the Association’s executive director, Carole Walker, told the press.

In Colorado, there were 12,600 homeowners claims and 17,200 auto insurance claims for an estimated total of $164.8 million in insured losses, due to a severe hailstorm in the Denver metropolitan area on July 13th.

Walker explained that the hail season in the Mile High State runs from mid-April through mid-August, though July is the peak month.

She also said that Colorado has seen more than $3 billion in insured damage due to hail in the last decade, with the most expensive season occurring in 2009 when there were three major storms causing $1 billion in damage.

Hail coverage is generally part of comprehensive coverage for auto insurance, and may be an additional rider for homeowners insurance.

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Coastal Residents: Check Your Homeowners Insurance Now

June 6th, 2011 by Iris | Comments Off | Filed in auto insurance, flood insurance, homeowners insurance, hurricane insurance

The Atlantic Hurricane Season officially began last Wednesday, and NOAA (The National Oceanic and Atmospheric Administration) is predicting a busy summer tropical storm-wise.

It should come as no surprise, then, that insurance regulators in coastal states like Virginia are strongly suggesting that homeowners – especially those with coastal property – spend some time this week reviewing their homeowners insurance policies.

Representatives from Virginia’s State Corporation Commission want to remind policyholders that some insurers include a deductible for hurricane or wind losses in their policies, but with other insurance companies such coverage is optional. The deductibles also can be written in two ways: either to be applied as a percentage of the coverage on the dwelling, or as a flat amount.

As well, insurance regulators want people to be reminded that since a lot of the damage from a hurricane is actually caused by flooding, separate flood insurance, which can be obtained through the National Flood Insurance Program, may be required.

Automobile insurance, the Virginia commission says, should also be reviewed to see whether wind or hurricane damage is covered.

As well, Virginians – and all coastal homeowners – should make copies of their vital records such as passports, driver’s licenses, social security cards, and birth certificates, and place them, and copies of their insurance policies, in safe, waterproof locations. A foil-wrapped package, inside a zip-top bag, in the freezer, is generally safe.

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How Car Insurance Rates are Calculated

May 19th, 2011 by Iris | Comments Off | Filed in auto insurance

If you’ve ever purchased car insurance, you know that there are many factors that determine how much you pay. Since we’re nearly half-way through the year, and most auto insurance policies are written for a six-month term, we thought we’d offer a refresher on what some of those factors are.
The most common factors that affect your car insurance rate are:

  • Driving History: Generally, in order to get get the best rates, you’ll need to have no points on your license in the last two years, though some insurance companies require that you have a perfect record for three years, and some even go back five.
  • Mileage: Even if you aren’t purchasing a PAYD (pay-as-you-drive) policy, you can reduce what you pay for auto insurance if you drive fewer than 14,000 miles in a year. You’ll be asked to provide two certified odometer readings a few months apart to verify this, however. Note: some insurers only give this discount if your annual mileage doesn’t exceed 10,000 miles.
  • Experience: Especially if you are shopping for specialty car insurance, your experience behind the wheel will save you money. In most cases, if you’ve been driving more than ten years, you’ll get lower insurance rates. In some cases, if you’ve had fifteen or more years of licensed driving experience, you’ll get an even better break. If you’re young, or haven’t been driving that long, you can take a defensive driving class to earn a discount.
  • Gender: Because women are perceived as being safer drivers than men, they usually get better auto insurance rates, though this trend is changing.
  • Marital Status: Again, a married person will pay less than an unmarried person for car insurance, if all else is equal, because marriage lends an air of stability, and reduces perceived risk.

These are just a few of the factors that help determine what your auto insurance premium will be. Others include the make and model of your car, whether it has any safety features or anti-theft devices, your zip code and your credit score. All insurance companies use slightly different calculations and give more or less weight to different factors, so it’s important that you always get multiple insurance quotes before committing to one company.

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Auto Insurance Increases in Canada

April 7th, 2011 by Iris | Comments Off | Filed in auto insurance

The United States isn’t the only part of North America seeing an increase in insurance rates. Kanetix announced earlier today that auto insurance premiums are higher in Alberta, Ontario, and Quebec, Canada.

Specifically, rates in Alberta increased by 0.4 percent, which may seem stable but was actually a reaction to the percentage of customers with less than five years of driving experience having risen by 7.1 percent.

Car insurance rates in Ontario increased by 6.7 percent, this on top of an increase of 9.5 percent in the last quarter of 2010, but analysts think this may mean that prices are actually stabilizing from an artificial low.

In Quebec, the increase in auto insurance premiums was only 1.8 percent and is attributed to an increase in multiple driver and multiple vehicle policies.

To find the best deals on auto insurance in these trying economic times, we recommend comparison shopping, bundling auto and homeowners coverage with the same company, and asking for every available discount.

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