You Better Shop Around
Shopping for car insurance is not easy, or fun for that matter! Hunting for the best rates on car insurance is hard enough then there are factors like your age, gender, credit and driving record. And yes, all of these things are determining factors in every auto insurance quote you get. Learn More
Automobile Insurance Glossary
There's a lot to know and keep track of in the fast-paced world of automobile insurance. The myriad of terms used to describe everything from apples to oranges causes even more confusion for consumers shopping around. So, to help your process go more smoothly next time, below is a glossary of some common (and some commonly misunderstood) terms related to automobile insurance from various sources on the Net.
The minimum amount of liability coverage you must maintain varies from state to state. But, beware since each state sets its own “legal” minimums that may or may not provide you with enough coverage. Beyond these legal minimums, any additional coverage is purchased at the buyers discretion. The key here is to find a balance betwixt adequate coverage and overpaying for insurance in order to have peace of mind for you and your family.
Finding a Reputable Insurer
Your own insurability and getting quotes are only part of the shopping for auto insurance process. Finding a reputable insurer is the other, more important part. After all, you want an insurance company that has a history of good service. You want an insurance company with the ability to settle claims from its policyholders, a company with a strong financial outlook and relatively few complaints and most importantly, you want an insurer that's legally entitled to do business in your state.
The Point System
Each state has its own Department of Motor Vehicles (DMV) and most use a “point” system to track your individual driving record. Whether a parking ticket, moving violation, at-fault accident or DUI charge, each infraction comes at a price as each has a certain value associated with it. The fewer of these points on your license (cannot be less than zero), the better shape your driving record is in.
Canceling your auto coverage?
So, you managed to get your vehicle insured. Congratulations! But, now, for whatever reason, you want to cancel your policy. We don't need to know why, but don't worry, we have some useful tips to help make the process as quick and painless as can be.
Auto insurance 201
We covered the basics, now it is time to dig deeper. Let's start with “gap insurance” because it's additional coverage that's pretty much essential if you plan on buying or leasing a new vehicle. Why?
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