Čet. ožu. 21st, 2019

Insurance

This is page where will be shown informations about car insurance, cheap credits and gas.

Vehicle insurance (also known as car insurancemotor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles.

Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle.

Car Insurance: It costs, factors and how to calculate it

Besides the benefits, reasons for purchasing, and all the dilemmas circulating around the topic of car insurance, what people sometimes really want to hear is an answer to the question, ‘how much is car insurance’. It’s a very buzzworthy aspect of the automobile insurance for the simple fact that the price can be a tipping point for someone and something that will push them to either buy one or don’t.

In the past, it was much harder to pinpoint all the costs and to see how much cash will drip away from your budget. Luckily, those times are gone. Today we’ll help you with all the car insurance calculations you need. Get a pen and paper, and it’s time to do some mathematics, folks!

How Much Is Car Insurance – Average Rates

According to the National Association of Insurance Commissioners, in the United States, the average amount which you give in order to ensure your car is around 800 USD. This sum has been changing in the last years. For instance, in the years 2013, 2014, and 2015, the rate has been slowly increasing and in 2015 it reached $889.

However, that doesn’t really mean much. Why you may ask. It’s because there are all sorts of different factors that determine the amount of money you’ll spend on insuring your vehicle. Just to give you a quick example – a male under 25 years may pay around $1,000, whereas a man who is married and approaching the fifties and has a good driving record can pay something in the range of $600 to $700.

how much is car insurance

Average Rates for car insurance

So, the insurance gap between certain categories of people is widening and that is causing some fears among people as to the future prices of automobile insurance.

How Much Is Car Insurance – Factors That Determine the Price

As we said earlier, there’s no universal cost for insurance, but it all boils down to the different factors you have or your vehicle has. Let’s take a look at some of the ones that are important for determining the price.

Driver’s Information

By this, we mean all the data that the car insurance company has on you – whether it’s your gender, age, marital status, where you live, and similar information. Even your credit score is evaluated!

You’d be surprised to find out how big a role your location plays in all this as well. It’s considered that in areas which are densely populated, you pay more. That’s because the risk of getting into an accident or suffering an injury is extremely high.

According to some statistics, states like Idaho, South Dakota, North Carolina, and others have a lower average spent on car insurance. On the other hand, New Jersey, New York, Washington D.C., Florida, and other states rank higher.

Individuals, usually, ask how to save when it comes to this factor. The truth is that that’s very, very hard because you can’t just change your location and move into another state just because of your car insurance. The same goes for marrying – people certainly wouldn’t find a husband/wife only to pay less.

Driving Experience and History

This one pretty much stands out from the crowd as to why companies consider it when calculating your rate. It’s very simple – if you have a bad driving history, speeding tickets, and other violations, the more you’ll pay. Some sources even claim that violations like driving under the influence or irresponsible driving can double the premium.

Driving Habits

Connected to the previous factor, the driving habits can be meaningful to insurers, too. How often you drive your car, whether you use the public transport, whether you drive only during the weekends, where you park your car – in the street, in a garage, or somewhere else… All of this is calculated into how much your premium would cost.

How to save? Well, the obvious answers would be carpooling, going to work by bus or on foot, driving less, and so on.

Your Vehicle

Car insurance was probably lying in the back of your mind when you were purchasing your car. And you won’t trade it or buy another one just to evade the high rates. Besides the demographics and all the info regarding the driver, the car is super important, too.

Some of the factors connected to your automobile include the type of car, the company that manufactured it, security, model of the car, where you keep it, and similar.

Type of Car Insurance

The advice to save on this one is not to go blindly to the insurance company and get the first type that you see. Instead, you should assess the current situation you’re in.

To illustrate this, the protection against personal injury isn’t a mandatory thing in all states. So, if you’re living in a state where it’s optional, you may decide not to purchase it. What’s more, the collision coverage or the comprehensive ones may not be the best solution for you if you seldom drive your car or if your vehicle isn’t worth much.

How Much Is Car Insurance – Saving Money on Your Car Insurance

Did you know that you can actually save some money on your car insurance? Yes, there are a few ways that you should follow if you want to accomplish this. They involve:

  • Driving carefully – You should strive to have the best driving record as possible. This is because the better driver you are the lower your rate will be. To achieve this you can try online courses that cost no more than $30 or spend around half a day in a classroom. In any case, after successful completion, you have a chance to remove any violation points you may have in your license and improve your overall driving record.
  • Buying online – When you sign up online, many insurers will provide you a discount on the insurance rate.
  • Keeping your car in a garage – If it’s inside, the vehicle is protected from most dangers, which makes it clear why the rate is lower this way.
  • Considering the type of automobile – Of course, the automobiles, which are luxurious, high-performing or imported from Europe have higher insurance rates. So, if you want to reduce your insurance costs, you should go for the more regular brands.

Final Words

Did this help you understand the way insurance rates are calculated and which factors play a vital role? What’s your experience with this? Share your story with us!

 

source: efourwheel.com

5 quotes you should take care about Insurance

1. How To Compare Car Insurance Quotes

With a raft of comparison sites available, it can be extremely confusing to understand how to compare ‘like for like’ car insurance quotes. What matters to one driver will not be as important to another. Here at WeTrust we have made this process simple for you by allowing you to compare car cover quotes not just on price, but based on feedback from other customers just like you. For many the cheapest car insurance quote will not be the best choice so we allow you to compare based on a range of factors. All of our car insurers must meet a minimum feedback profile to stay on our list.

2. How To Get the Lowest Car Insurance Quotes

To get the lowest car insurance quote that is right for you, it’s imperative that you first consider your needs. For example, will you require a courtesy car if your car is out of action for repair? Do you need fully comprehensive insurance? Some providers offer reduced car insurance premiums if you fit a ‘black box’ or if you are happy to pay a high excess if you do have an accident. It is also worth considering insuring multiple drivers on one policy as this can reduce your car insurance quote too.

3. How Long Do Car Insurance Quotes Last?

How long a car insurance quote is valid for is at the discretion of the car insurance provider. In some cases, your car insurance quote may last for 60 days. While other car insurance providers may consistently update their car insurance quotes.

4. How Far In Advance can you Get a Car Insurance Quote?

If your car insurance is up for renewal, it’s actually a good idea to look around early – more than two weeks prior to your policy expiring. In fact, research shows that in many cases, those looking for car insurance more than two weeks before it is due are likely to get cheaper car insurance deals as, for some insurers, those who leave it to the last minute are considered a bigger risk.

5. Why Do My Car Insurance Quotes Keep Changing?

Car insurance companies are constantly reviewing their pricing structures, and, as outlined above, often choosing your car insurer early can assist to keep costs down. In order to get the best car insurance quote, it’s a good idea to use a price comparison site like WeTrust. Remember, price should only be one consideration when factoring in what car insurance is right for you. It is worth making a list of ‘must have’s’ and comparing providers on the basis of your list.

Can you trust car insurance comparison sites?

Follow our guide to get the best cheap car insurance using price comparison websites

Car insurance comparison websites have created some of the most memorable TV advertising campaigns of the last ten years, with meerkats, opera singers and non other than Arnold Schwarzenegger all putting in the time to generate traffic to the big names in price comparison.

The budgets these sites spend on advertising certainly suggests there is a lot of money to be made in the online insurance market. It was no surprise then, that approximately 40 per cent of drivers we asked in our annual Driver Power survey went to comparison websites to get the best/cheapest deal on car insurance.

As the majority of insurance companies do little to reward loyalty, in fact they often do the opposite at renewal time,  it is no surprise that people shop around when the time to update their policy comes. There was a time where you would be required to call insurance providers and brokers one by one to hunt for the best deal.

While there will have been a few oddballs who enjoyed doing this, for the majority of people this was tedious and boring. This then, is where comparison websites came in, supposedly offering us a solution which saves time and money.

Even though this can be true, as there are now numerous comparison websites covering car insurance, it is worth checking multiple ones as premium prices can fluctuate greatly between the sites. As comparison websites are not independent, a conflict of interest has previously been brought into question.

One investigation by the Financial Conduct Authority (FCS) investigated whether insurers such as Esure and Admiral have profited from owning stakes in GoCompare and Confused.com respectively. The findings stated that there was in fact no evidence to suggest either were making profit, but did find the websites weren’t always making it easy for consumers to get the right policy.

That’s why Auto Express – with help from the British Insurance Brokers’ Association (BIBA) – has compiled this guide to navigating price comparison sites.

Key things to consider on comparison sites

Voluntary or compulsory excess?

To drive down the headline price and get ranked near the top of the site, insurers will add a high voluntary excess on top of the compulsory excess, irrespective of what details you’ve entered. Make sure you check the excess before proceeding with the deal.

Is it the best deal?

Previously, comparison sites told insurers they could only offer their best deal on the sites, but a review by the Competition Commission has put a stop to this practice.

Websites charge a fee to the insurers to appear on the site and cash in by getting successful concluded deals. This fee adds to the amount you pay so ringing the insurer could net you the same cover, but without the site fee added on.

Is it suitable for you?

Comparison sites cater for the average motorist, but if you don’t fit into this category you’re unlikely to see the best deals online. For example, if you’ve got a classic car, need driving abroad cover or have convictions on your licence, then trying a specialist insurer is the way to go.

• Click here to take part in the 2016 Driver Power survey

The devil is in the detail

Some sites make assumptions that can pump up your premium. The better sites ask all the necessary questions to return relevant deals, but if you’ve got modifications on the car or you’re not the main user, then the offers you see won’t be applicable.

Time is of the essence

If you find a suitable policy at a decent price you’ll want to take advantage of it. Check how long any deal is guaranteed for and if it’s guaranteed at all. Once you click through, be careful that the offer in front of you is the same as you’ve seen on the comparison websites, and unwanted extras haven’t been added on or the APR for instalments has risen.

Multicar policies

Comparison sites offer one-car deals, but bundling your motors together can score you a good discount under a multi-car policy offered by some of the big insurers when you call up.

• Best and worst car dealers 2015

Can a broker help?

Not everyone signs up to comparison sites and so their best offers won’t show up – for example Direct Line or Aviva. Consider using a broker, too, as they can tailor a policy for you.

BIBA’s top tip

“It’s not all about the headline price. Make sure the cover is right for you.”

What you’ve told us about price comparison sites

Auto Express readers have differing views on price comparison websites. Here’s what they told us…

“I am wary of insurers’ renewal procedures. They are often much cheaper on comparison sites than at renewal time.”

“I always check directly with the chosen provider as they always match the comparison site and usually better it.”

“Ideally, I’d prefer to order it by speaking to someone as searching and selecting categories can be a little uncertain sometimes.”

“You obtain a quote but then search elsewhere online, too. You come back to the original quote only to find it is no longer available and instead receive a higher quote for the same cover.”

“Beware of discounts online as they don’t always add up as they say.”

“Comparison sites saved me nearly 50 per cent from renewal quote.”

“I had to phone the insurer to get them to process it and they tried to charge me a higher price than it was advertised online.”

“The price difference from comparison site to comparison site for the same product was the strangest anomaly.”

 

source: autoexpress.co.uk