Comprehensive Insurance Current Rates, News & Information

Understanding Diminshed Value Payments

Posted in Auto Insurance , Auto Insurance Claims , Collision Insurance , Comprehensive Insurance , Liability , Property Damage

April 16th, 2009
No Comments

Once a car is damaged in an accident, it will truly never be as “good as new,” because of the diminished value caused by the wreck. Once a car is involved in a collision, although auto insurance may cover the repairs of the vehicle, the car will never be worth its full value again because repair work for an accident lowers the value of your vehicle. Your car will now have a permanent history of being wrecked, and consumers will not be willing to pay full price for a previously damaged vehicle, no matter how well the repair job was done.

Why You Need Underinsured Motorist Coverage

Posted in Auto Insurance , Auto Insurance Claims , Collision Insurance , Comprehensive Insurance , Liability , Property Damage

April 14th, 2009
1 Comment

Underinsured motorist coverage is a way to protect an insured driver who becomes involved in a collision with another driver who does not have adequate auto insurance coverage. If the driver of the other vehicle is determined to be at fault and their policy limit does not cover your all the related expenses, you will most likely have to pay out of pocket to cover the rest if you do not have underinsured motorist coverage. Because many states have low auto insurance coverage minimums, their policies will most likely not cover them or involved parties in the event of a major accident.

Why You May Need Uninsured Motorist Coverage

Posted in Auto Insurance , Collision Insurance , Comprehensive Insurance

April 13th, 2009
No Comments

The state laws for minimum auto insurance coverage will vary. However, most states typically require uninsured motorist coverage as part of a comprehensive insurance policy. Uninsured motorist coverage will protect people involved in an accident with a person who is driving without auto insurance. When the uninsured motorist is legally liable to pay but does not have the financial resources to do so, the portion of your insurance covering uninsured motorists comes into effect.

Auto Insurance Benefits Forfeited in Street Racing

Posted in Auto Insurance , Auto Insurance Claims , Auto Insurance Quotes , Comprehensive Insurance , Liability

April 3rd, 2009
No Comments

There are many factors contributing to street racing. Teens are the most common violators of street racing laws. Many times this reckless behavior can be discouraged by more education and a better understanding of the consequences.

Street Racing is Illegal Everywhere

Street racing is not legal anywhere in the United States. Because of its high-risk status, auto insurance companies withdraw their benefits if they discover that an accident was caused due to street racing. By not offering insurance coverage for street racing, people will more carefully consider the financial and personal risks they are taking when participating in reckless driving behavior.

How Wrong Insurance on a Leased Car Can Put You Thousands of Dollars in Debt

Posted in Auto Insurance , Comprehensive Insurance

March 18th, 2009
2 Comments

Perhaps you’ve carefully considered buying a car versus leasing it, and decided to go with the lease. With a lease, you don’t need to borrow any money; you just pay a fixed monthly fee to the leasing company. Furthermore, the monthly payments on a lease are smaller than on a loan.

Unfortunately, the story is not so simple. If you are not careful, you may end up owing the leasing company thousands of dollars before you even get a chance to break in the car! Here’s how it can happen.

You lease a brand-new BMW and park in the street the first night, while clearing up some space in the garage. Unfortunately, the old tree that threatened to fall for the past year finally yielded to age, and scored a perfect hit on the beemer. The car is totaled.

How To Insure Highly Modified / Custom Vehicles

Posted in Auto Insurance , Comprehensive Insurance

March 12th, 2009
1 Comment

There are car lovers, and then there are the real car lovers. They take their automobiles and modify them with all kinds of expensive, customized work and accessories that make their cars truly something out of the ordinary. Many people who customize their cars seek to add extra speed to them, and of course, make them more flashy. If you’re wondering how to insure your highly modified vehicle, you need to do so before you spend all your money on expensive aftermarket parts. Many insurers are very hesitant to provide auto insurance for heavily customized vehicles, and even more will not provide that coverage altogether.

When Does Full Coverage Auto Insurance Make Sense?

Posted in Auto Insurance , Comprehensive Insurance

March 6th, 2009
2 Comments

Just about everyone has a healthy fear of having car problems – and not having the right coverage you need to address that problem. People buy auto insurance, but they get anxious, worrying that there’s some loophole in their coverage that they need to fix. This anxiety is quite possibly the source behind the myth of “full coverage auto insurance,” a mythical policy that basically covers anything and everything that could happen to your car. The reality is, there is no such thing as full coverage auto insurance. There are, however, some basic coverage options that come close to fulfilling the dream of full coverage auto insurance.

Car Insurance Term: Comprehensive

Posted in Auto Insurance , Comprehensive Insurance

February 24th, 2009
1 Comment

There are many terms and phrases associated with auto insurance, and one of these is the word “comprehensive.” Comprehensive auto insurance refers to insurance protection for your car in case it is stolen, or destroyed in a flood, for example.

Benefits of Gap Coverage

Posted in Auto Insurance , Collision Insurance , Comprehensive Insurance , Liability

February 24th, 2009
No Comments

In case you are unfamiliar with the term, gap coverage is auto insurance for people with very large balances left on their car loans. Gap coverage means that if the owner of the car is upside down on their loan, then the loan will be forgiven. The basics of gap coverage are easy to understand, and its benefits are obvious to people with big balances remaining on their car loans.

The Driver Who Hit Me was Uninsured

Posted in Auto Insurance , Comprehensive Insurance

February 18th, 2009
1 Comment

One thing many drivers worry about is being in an accident with someone who is uninsured. Should that happen to you, even if it’s not your fault, you will have to foot the bill for every single aspect of damages. As a result, people who want to protect themselves from what could be a nightmare scenario will often get uninsured motorist coverage.