Archive for the ‘Car Insurance’ Category

Tips to Save On Car Insurance

Wednesday, March 30th, 2011

Recently came across an article on Yahoo! Finance on ways to save money on car insurance.Car Insurance Blog Everyone wants to save money, especially on car insurance, so I thought I should just do a short summary of it [link to the full article at the bottom of this post]. Basically, the article listed out 7 ways to save and here they are:

  1. Drop Coverage You Don’t Need: There are a lot of different options and things that could tack on extra dollars to your auto premium, take off what you don’t need
  2. Search for Discounts: There are always new discounts coming up in a competitive market like auto insurance, do a search for discounts every 6 months to see what you can get
  3. Improve Your Credit Score: A good/improving credit score might get you lower interest rates on loans, you should see if you can get extra savings off your insurance too
  4. Pay Your Premiums With a Credit Card: Pay your car insurance with your credit card with cash back, it could save you anywhere from 1-5% of your insurance
  5. Tell Your Kids to Keep Their Grades Up: Most companies offer some kind of good student discount, keep the grades up, keep the premium low
  6. Take a Driving Course: Some driving courses are recognized by some policies, check and see what savings you can get (for a lifetime)
  7. See If Your Occupation Can Save You Money: Each occupation has a different risk assessed to it, which could hike up your insurance or lower it, see if your occupation qualifies for savings

There are quite a few comments made in the comment section that provide some quality advice from other readers. If you want more information regarding your auto insurance or get a free Louisville KY Auto Insurance quote, click here.

Article: 7 Ways to Save Money on Car Insurance

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Commercial Auto Insurance

Saturday, October 23rd, 2010

If you are a business owner, you need to carry several different types of insurance. These could include general liability insurance, malpractice insurance, product and professional liability insurance, and commercial property insurance. Another type of insurance that business owners may need to carry is commercial auto insurance. Commercial auto insurance coverage is similar to the insurance you carry for the car you use for personal transportation. A commercial policy, like a personal automobile policy, covers liability, collision and comprehensive, medical payments (personal injury protection) and coverage for uninsured motorists.commercial auto insurance

Some business owners may forget about carrying commercial coverage because they use their automobile for both work and personal business. What many of these business owners may not realize, however, is that their claim may be denied if they lack commercial auto insurance and they have an accident while doing business with their automobile. To maintain proper coverage on a vehicle that is used for business, you must have commercial auto insurance and should have your vehicle listed under the business name as a principal insured entity on your policy. This way, if a claim is filed by you or against you, the insurance company will be able to process your claim without any confusion.

Determining which type of business auto insurance policy you need will of course depends on several factors, such as the number of employees who will drive the vehicle and the type of driving they will do for the job. It also matters whether you drive the vehicle personally or if your employees drive the vehicle, or whether you will have your employees drive their own vehicles for business purposes. While similar to a personal auto insurance policy, there are differences in liability and other types of coverage that you will need with a commercial policy.

The policy itself will outline exactly what constitutes commercial use of an insured vehicle. How exactly this definition fits your company’s vehicle use will determine if you actually need a commercial policy. As with all insurance coverage, your agent can help you to investigate your needs and plan accordingly.

Your monthly premiums for a commercial account will be influenced by several factors, such as business location (whether you are in a bad neighborhood or not), the driving records for yourself and your employees, the type of vehicles you are insuring (how safe they are), which size deductible you choose, and which safety or anti-theft devices are installed on the vehicle.

There are also some special considerations which can affect your commercial auto insurance rates. If you run a trucking business, for example, you may have certain insurance requirements you must meet for the state and federal government or department of transportation. Commercial policies also differ from personal ones in regards to who is covered in the event of a claim. It could be the driver, owner, or corporation, for example. As with other business insurance, the type of business you run and specific uses for your vehicles are the largest determining factor in how much commercial auto insurance coverage you will need.

If you want to know more about Louisville Commercial Auto Insurance or to get a free quote, please visit our website.

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Is My Stolen Car Covered By Insurance?

Wednesday, February 17th, 2010

Imagine walking out of your home and to your surprise your car is gone. After panic subsides, what do you do? The first reaction, naturally, is this covered by my insurance? If you have comprehensive coverage on your car insurance, the loss is covered. On some declarations pages, comprehensive is also referred to as “other than collision”.

We know how much people are trying to cut costs out of their budgets- but nothing is more important than having adequate coverage in your Auto Insurance. Comprehensive coverage can be added to your policy without having collision on your Auto Insurance. It is important to have an in depth conversation with your insurance agent regarding your policy.

Comprehesive Insurance

Comprehensive Coverage pays for your vehicle if it is ever stolen or damaged by causes other than collision. That means that if you walk out of your front door to head to work and your car is gone, you will have coverage for your vehicle. For example, with Comprehensive Coverage on your policy you are protected against damages caused by fire, wind, hail, flood, theft vandalism, or hitting a deer are all covered. Comprehensive Coverage will also pay for a substitute vehicle expense of up to $25/day or $750/total, if your car is stolen. Almost all policies have deductibles that will apply to the loss. The most common deductible is $500, but you can have almost any deductible you want, ranging from $0 to $5000.

Filing the claim:

If you are a victim of a stolen vehicle, call the police immediately to have a theft report filed. The police need to be able to put your vehicle identification number (VIN) in their data base as a stolen vehicle. Next call your insurance company to file the claim. On most policies there is a waiting period for filing your stolen vehicle claim. The standard wait is 48 hours from the time of theft. Many cars have additional damage if recovered. This damage is covered but subject to your comprehensive deductible. If the car is found and the damage is under your deductible the insurance will close the claim. You will have to pay for the damage under your deductible amount. Theft claims are typically not chargeable claims, and have little or no effect on your premium. If your vehicle has caused damage to anyone else’s property, the property damage section of your liability would cover this part of the claim. Property damage rarely has a deductible associated with it. You will need to consult with your agent to verify your policy.

Most cars that are retrieved by the police are found within the first 3 days. Joy riding is the most common reason for car theft. Many cars are found in different states abandoned on the side of the road. The laws change for the assailant if they are caught after crossing state lines.

If you have liability cover now and would like to know what it would cost to add Comprehensive Coverage on to your policy then contact our office, or get a free Louisville Auto Insurance quote online today.

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