Low Cost Car Insurance Current Rates, News & Information

Today’s News: U.S. Vehicle Thefts Decline, Life Insurance Outlook Improves and California’s Low-Cost Auto Insurance to Extend

Posted in Auto Insurance , Low Cost Car Insurance

May 20th, 2010
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The auto insurance industry is benefiting from a decline in auto thefts as well as an extension in low-cost coverage for one state. Life insurance is seeing improvements as well, as Moody’s brings good news about the state of the industry.

U.S. Vehicle Thefts Decline for 6th Year Straight

Good news for the auto insurance industry. According to the National Insurance Crime Bureau, auto thefts have declined nationwide for the sixth straight year. The bureau’s recent report on thefts shows that of the 366 Metropolitan Statistical Areas, 304 have reported lower rate of thefts for 2009 than the year prior. Fewer thefts have a positive effect on auto insurance rates, so the lower incidences of theft help keep rates lower. (Business Week)

Moody’s Says Life Insurance Outlook Has Improved

Moody’s Investors Service has upgraded the U.S. life insurance outlook from negative to stable. This upgrade shows that Moody’s expects the industry’s financial strength to grow in the next 12 to 18 months. However, the report looks at the overall state of the industry and not individual life insurance companies, one-third of which are still rated with negative outlooks. (Life and Health Insurance News)

Senate to Look at Bill that Extends California’s Low-Cost Auto Insurance

A bill that will extend California’s Low-Cost Automobile Insurance program has been sent to the state Senate after clearing the state Assembly in a 73-3 vote. Lawmakers hope that by extending the program, drivers suffering through these tough economic times will have continued access to affordable auto insurance.

A similar bill was vetoed by Gov. Arnold Schwarzenegger in 2009, but the new bill accounts for his objections. If the bill passes Senate, it could be extended through 2016. (Insurance News Net)

Importance of Comparison Shopping for Auto Insurance Quotes

Posted in Auto Insurance , Auto Insurance Quotes , Low Cost Car Insurance , Save on Auto Insurance

September 23rd, 2009
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We all know that finding auto insurance quotes can be a major chore, but it’s an important one that you should not skate past because you’re tired of searching. Why, you ask? Mainly because if you don’t shop around for quotes from various companies, you may be missing out on big savings!

Of course, you aren’t going to have time to shop with every insurance company in existence, but it’s a good idea to visit as many as you have time for. After all, the more you shop, the more you save – doesn’t that sound like a familiar catch phrase?

Increase Your Chances of Finding the Best Deal

As mentioned previously, when you’re looking for the right coverage, it’s hard to know if you’ve found it if you only go with the first company you inquire with. You may be bummed out at the idea of shopping around for auto insurance quotes because it can be a bit time-consuming. But the good news is that with the convenience of the Internet, you can obtain a myriad of accurate quotes in no time. Go Insurance Rates offers free auto insurance rates online.

Comparison Shop Even if You Already Have Coverage

Consumer advocates are said to recommend that even if you have coverage you feel is both reliable and affordable, it’s a good idea to shop again for auto insurance quotes twice a year. While you may have grown accustomed to the company you’re with, you may be missing out on even better rates from a company that is just as – if not even more – reliable. Looking doesn’t mean you’re committing to anything. It just means you’re taking care of your own best interest when it comes to your car.

When you’re comparison shopping, it’s a good idea to remember one tip: the greater the details, the more accurate the quote. In other words, when you’re entering your personal information to obtain a quote, the more detailed it is, the better. This means entering the car’s VIN, your social security number and/or driver’s license number. By entering these details, you should receive a more precise quote.

How Much More Expensive Is Comprehensive than Liability Insurance?

Posted in Auto Insurance , Comprehensive Insurance , Liability , Low Cost Car Insurance

August 11th, 2009
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If you own a car, or are thinking about buying one, then you probably know you have to have car insurance. Only a few states do not require it, but what they do require instead is proof that you can pay for any accident damages you inflict on others out of your own pocket. A few people here and there can afford repairs or hospital bills, but they would bankrupt the vast majority of us, so we need to have car insurance.

Two general components of car insurance are liability insurance and comprehensive insurance. Liability insurance is itself broken down into two parts: personal liability insurance and property liability insurance. Personal liability insurance will pay for medical bills stemming from an accident for which you are at fault. Property liability insurance will cover property repair or losses stemming from an accident for which you are responsible. Comprehensive auto insurance, on the other hand, will protect you should your car be stolen, for example, or damaged at a car show. The auto insurance policies will cost you, of course, but generally speaking, comprehensive car insurance will cost you more.

When you buy auto insurance, you select the level and amount of coverage protection that you want, or can afford. It’s a trade-off, really: the higher your monthly premium, the lower your deductible. So, if you get into an accident and it’s your fault, and you pay a lot of money every month for a low deductible, you will pay that deductible and then be relieved seeing the insurance company pick up the rest of the tab. Your strategy will have paid off. If you pay a low monthly premium and have a high deductible, you’ll really feel the bite when you have to cough up the first $5,000 the other party’s repair bill.

Generally speaking, comprehensive auto insurance is more expensive than basic liability insurance because it must cover the full price of your car should it be stolen or declared a total loss due to an act of nature. Policy prices vary from state to state and insurer to insurer, so be sure to check out all your options.

To learn more about comprehensive auto insurance and liability auto insurance, be sure to consult with an insurance expert.

How to Lower My Auto Insurance Rates

Posted in Auto Insurance , Low Cost Car Insurance , Save on Auto Insurance

July 29th, 2009
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Many people would like to pay less for auto insurance but don’t know what they need to do to get the lowest auto insurance rates. You may think you need to live with high rates because of a bad driving record or dinged credit report. However, there are a few simple things you can do to lower your car insurance rates, regardless of your history or driving record.

Steps to Lowering Your Car Insurance Rates

First, shop around. Auto insurance prices can vary greatly from company to company, so it pays to get at least three quotes from different companies. You can call the companies directly or get a quote online through various websites. Go Insurance Rates offers you multiple auto insurance rate quotes for free in only a few minutes!

Opt for a higher deductible. If you don’t know what your deductible is, check your policy and find out. Chances are you were sold a very low deductible, such as $200 or $300. Low deductibles are great, but if you are comfortable with the idea of shelling out $1000 in case of an accident, then you can save yourself a whole lot up front: you’ll be paying up to 40% less a month for car insurance.

Look for group rates. Are you a member of a professional organization, alumni group, or union? You may be eligible for a group rate through one of these associations.

Consolidate all your policies with one insurer. Some insurers will give you a break on car insurance rates if you purchase more than one type of insurance, or if you have more than one vehicle insured by the same company.

Finally, is your car an old clunker? If your vehicle is more than 7 years old, do the math and see if your car is worth less than 10 times the insurance premium. If it is, you might consider taking on a more basic policy that doesn’t include collision or comprehensive insurance.

Remember, though, that it is never a good idea to go without insurance entirely. Aside from being illegal in most states, if you ever are in an accident, you will be liable for any damages not only to your own car, but also to the other party’s car, property or person. Also, you may also want to rethink lowering your insurance rates if it will cost you in other areas.

Why Lower Auto Insurance Rates Aren’t Necessarily Better

Posted in Auto Insurance , Low Cost Car Insurance , Save on Auto Insurance

July 28th, 2009
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When you are shopping for auto insurance, you’re probably thinking primarily about getting the best deal and the lowest car insurance rates you can find. There’s no doubt that it’s important to get the best policy you can for your money, and part of that is finding the cheapest rates on car insurance. But low rates shouldn’t be the only thing you are thinking about when it comes to buying auto insurance. Your car is a major investment, and there are many other things you should take into consideration when choosing an insurance company.

Car Insurance Company Research

For instance, take a close look at the company that’s insuring your car. Are they reliable? Do they pay out claims, and do they have a reputation for honesty and credibility? Remember: the whole purpose of having insurance on your car is that you want the support and coverage to be there when you have an accident. If you save $50 a month on car insurance, but the company you choose does not fulfill your claim when you get into an accident, you’re not getting much of a bargain on car insurance.

Fortunately, it’s not difficult to do research on companies before you buy. Ask friends if they have an insurance company they are happy with, and search for online reviews. It’s important to choose your car insurance company carefully, and find a stable insurer with a solid history of taking care of its customers.

Dangers of Underinsuring

Also, don’t short yourself on insurance just because you’re working with a low budget. It’s true that you can save by requesting a higher deductible, or reducing your collision and comprehensive coverage. But don’t underinsure your vehicle just to cut corners and save a buck here or there. If your car is fairly new and worth more than the coverage you have, you could be facing a substantial loss if you are ever in an accident. Of course, you should always keep at least the legal minimum of insurance that is required in your state.

***And don’t forget to comparison-shop for your car insurance quotes to ensure you’re really getting the best deal. Fill out our online form, and within minutes Go Insurance Rates will provide you with auto insurance rates from trustworthy insurance companies absolutely free. You can also read more about the factors affecting car insurance rates.***

Should I Get Property Damage Liability Only?

Posted in Auto Insurance , Low Cost Car Insurance , Personal Injury Protection , Property Damage

July 15th, 2009
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It is a fact, to legally own and operate an automobile in the United States, a minimum amount of auto insurance coverage is required in some states. Although the minimum coverage amount is determined by law, the state in which a policyholder lives and registers the vehicle determines the amount essential for each vehicle. The minimum levels of auto insurance is comprised of both bodily injury liability limits and the the property damage liability limit. If you want to drive legally and provide a level of respect and responsibility to your fellow man, you need to have both in your car insurance coverage and not just property damage liability.

Do You Need Property Liability?

Property damage liability is a great type of insurance to have. If a policyholder is found at fault for causing an accident, the property damage liability portion of the policy will kick in to cover the cost of fixing or replacing the victims vehicle or other property damaged in the accident. This limit is capped by the maximum property damage liability insurance you purchased in your policy.

What Does Property Damage Liability Cover?

Property damage liability only covers property. If you get involved in a collision and are found at fault, you may also become responsible for paying the medical bills of the injured driver or passengers in that vehicle. That is where the bodily injury liability insurance comes in handy. If you choose to only get property damage liability, and are liable for the accident, you may have to pay large sums of money, based on the level of medical expenses they incur due to your driving.

Opting to only get property damage liability is not a smart decision. Not only is it probably illegal in your state, it is a foolish risk to take just to save a few dollars in the short-run as it could destroy you financially. Did you know that medical debt accounts for 60% of new bankruptcy cases? It’s true, and medical bills can come about due to medical illness or, you guessed it, bodily injury caused by accidents.

Do you need a car insurance policy that covers the all-important personal injury protection and property damage liability? If so, Go Insurance Rates can give you access to free online auto insurance rate quotes. The process only takes minutes and is absolutely secure.

Factors Helping You Lower Car Insurance Rates

Posted in Auto Insurance , Low Cost Car Insurance , Save on Auto Insurance

July 1st, 2009
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Sometimes getting the best rates on car insurance can seem like a big balancing act. There are so many factors that go into determining your car insurance rates – your driving record, your age, even your sex, can play a part in the kind of rate you are offered. But if you look at those factors as chances to help you get lower rates on auto insurance, there are as many ways to save as there are factors affecting your rates. Take a look at the following and see if you can find ways to save and get the best car insurance rates.

How to Lower Your Auto Insurance Rates

How far are you driving? If you change jobs or find yourself working from home, contact your insurance company and let them know. Losing a job is never good news, but you could save a bundle on car insurance.

Can you combine policies? If you have auto and home insurance policies with the same company, you could qualify for a multi-policy discount. If you’ve recently gotten married, thats another opportunity for car insurance savings.

Can you raise your deductible? It may not sound like the best idea in the world, but in the world of risk management, it may make sense to raise your deductible if the savings are comparable to how much more you would have to pay on a claim. For instance, say you raise your deductible from $500 to $1000. If raising your deductible saves you $50 quarterly in payments, that is a savings of $200 a year. Thats money in your pocket that, in two years, will equal the amount you would have spent if you had filed a claim. If you don’t have an accident in two and a half years, that’s a “good driver” bonus you can really use!

Of course, the best way to save on car insurance is to shop around for the best deal. Get a car insurance quote online from various insurance companies, and talk to your insurance agent and see if he or she will match the quote.

Three Ways to Lower Auto Insurance Premiums

Posted in Auto Insurance , Geico , Low Cost Car Insurance , Save on Auto Insurance

June 30th, 2009
1 Comment

If you are like most consumers, you are always on the look out for low rates on car insurance, or ways to lower your car insurance rates. But what are the best ways to get the best auto insurance rates? Even if you don’t qualify for a good student discount or have a membership in an auto club, here are three things you can do right now to make sure you are getting the best auto insurance deals you can find.

First, you have to look for them. Seems obvious, right? But often people get complacent and never shop around to see if they could get a better rate. Experts suggest that you shop for auto insurance once a year; if you work with an insurance agent, see if your agent will match an online price quote, which is typically a lot lower than standard insurance rates. Taking some other insurance rates out for a test-drive is the best way to get a deal.

Second, what discounts do you qualify for? It’s true that insurers now factor in things like your credit score and parking tickets when determining your rate. But many also offer substantial discounts to good students, those with clean driving records, and members of professional organizations such as Mensa, the Dental Hygienist’s Association, and many alumni groups. Geico, for instance, has 200 qualifying groups that can save you up to 27%.

Third, take a closer look at what you are paying for and look into alternatives, such as pay-as-you-go insurance or package deals. For example, if your kid’s car is sitting in the garage while she’s off at college, some companies will let you take advantage of a discount rate for cars that are driven less than 2,500 miles a year. Or, you could save 10-20% by packaging your auto insurance and renters insurance at the same company. It pays to check out package deals with whoever holds your policy; they might give you a discount just for asking!

If you’re looking for the best auto insurance rates, check back with Go Insurance Rates often as rates information changes daily.

Outsmarting the Car Insurance Rate Hike

Posted in Auto Insurance , Low Cost Car Insurance , Save on Auto Insurance

June 21st, 2009
1 Comment

We may have seen a significant drop in gas prices over the past few months, but car-related costs like car insurance are not offering the same generosity. In fact, according to brokerage firm, Stifel Nicolaus, rates raised an average of 2.5% in 2008 and could even rise as high as 7% in 2009 aftera fewyears of staying flat. Premiums are going up for everyone!

In a tough recession, no one wants to hear that prices are going to rise in any area of their expenses. So if you currently own a vehicle and are concerned about car insurance rates, you’re probably already trying to figure out how you can get a break on coverage. There are a few ways to outsmart the car insurance rate hike. Let’s look at what they are …

Try a Little Haggling

While it’s not necessarily easy to bargain with an auto insurance underwriter, you don’t have to settle for the quote you’re given. If you express your desire to have a lower rate, they may search harder for some discounts.

One popular discount that you might consider taking advantage of is being insured with the same company for more than one type of insurance. For instance, if you already have homeowners insurance, you might be able to receive a discount on auto.

Adjust Your Deductible

Another option that you can try to outsmart rising insurance rates is to increase your deductible. The higher your deductible is, the lower your monthly premium will be. Of course, with a higher deductible, you will have to come up with more money before you can place a claim to have your vehicle fixed after an accident. However, if you think you can cover, say a $1,000 deductible as opposed to your original $500 deductible, it’s a good idea to increase it to lower your monthly payment.

Clean Up Your Credit

Since your credit score can determine how high or low your auto insurance premium will be, it’s a good idea to obtain a copy of your credit report to see what items you can clean up. The more you pay up or pay off, the higher your score can be. So before obtaining a new policy, it’s a good idea to make credit a high priority.

Don’t let rate increases determine how much you will pay for auto insurance. By outsmarting the rate hike, you can easily pay the price you’d prefer.

Simple Ways to Lower Your Car Insurance Rates

Posted in Auto Insurance , Low Cost Car Insurance , Save on Auto Insurance

June 15th, 2009
1 Comment

Like many people in these tough economic times, you are probably looking hard at your monthly budget and trying to find ways to save money on everyday costs. One place that many people can find cost savings is by finding the best deal on auto insurance rates. Saving money on auto insurance doesn’t have to be hard, and it doesn’t have to increase your risk on the road. Here are some simple ways to save money on car insurance rates.

First, shop around for the best deal. This is something that experts suggest you do at least once a year, but most people stick with the same company for their entire life, even over generations. You might still do that (and you should definitely give your car insurance company a chance to match an online price quote), but get a car insurance quote online or talk to an insurance broker to make them compete for your business.

Second, see what discounts you qualify for. Are you a member of a professional organization, an alumni group, or an auto club? Your auto insurance company may offer a discount to those group members, and you don’t even know it.

Has your job situation changed? Are you working from home, or have you changed jobs, since you first took on your policy? Mileage plays a big part in how your premium is calculated and if you are laid off or work from home, it might be worth calling your auto insurance company and letting them know you are not driving as much as you used to (but don’t forget to call them again when you go back to commuting!)

Finally, look for package deals. If you have more than one policy at the same company, most companies will give you a multi-policy discount.

And for the best car insurance rates online, visit Go Insurance Rates often as rates change daily.