auto insurance

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How to Save on Car Insurance

With so many options for insurance policies out there, looking for a good deal on car insurance can be a little overwhelming. But learning how to save on car insurance doesn’t really have to be complicated. You just need to know what things you can do to make sure you get the best deal. How to Save on Car Insurance Now Here are some of the things you can do to make an immediate difference to save on car insurance: Shop around for the best price. It may seem obvious, but there are still many drivers who only look at one or two quotes before purchasing their car insurance. The company you choose as your insurance provider makes a huge difference in how much you pay for your coverage. Take the time to compare quotes. Here at SelectQuote we gather and compare quotes for you, so you can save time…

How to Successfully File a Car Insurance Claim

No one likes thinking about being in a car accident but with more than 140,000 million Americans on the road daily, many of them drowsy, texting or otherwise distracted, the odds are you’ll experience at least one accident during your driving career.  We’re not suggesting every time you get behind the wheel you dwell on the idea of an auto mishap but knowing ahead of time what you need to do if you’re caught in one can make all the difference when it comes time to file your car insurance claim. Steps for Filing a Car Insurance Claim Whether it’s a fender-bender or major mashup, the idea of dealing with insurance adjusters and claim forms can be nearly as stressful as an accident itself. Take these steps before and after a collision and you’ll be able to handle the experience like a pro. First, be prepared by keeping the following…

Home and Auto Insurance Policy Basics

Summer is a busy time when people are on the move. But even if you aren’t getting a new address, it’s the perfect time to review home and auto insurance basics to make sure you have the right insurance coverage for you.  Before you get started, it’s helpful to understand home and auto insurance basics. We’ve outlined them for you below so you will be in-the-know when you talk to your SelectQuote licensed agent.  Auto Insurance Comprehensive Coverage Sometimes accidents happen. Maybe it’s a natural disaster, such as a flood, tornado or earthquake. Or maybe your car was damaged while parked at the store, stolen or vandalized. Whenever damage occurs, such as non-impact physical damage, theft and unoccupied accidents, comprehensive coverage covers your loss Liability Coverage Liability only is when a policy only includes coverage for bodily injury liability and property damage liability. It protects the people in the other car…

How Much Car Insurance is Required in Your State?

Without car insurance, the financial consequences of an accident can be devastating. Car insurance requirements by state vary so it’s good to know what is required where you live. But, most states insist you have car insurance to drive a car so it’s important to have the right amount of coverage. If you’re buying a new car, adding a driver to the family, or moving to a new state, now is the time to revisit your automobile insurance policy. Ensure you hold the required amount of car insurance, at a minimum, to protect you and your family should an accident happen. Car Insurance Requirements State-by-State Car insurance is a conglomeration of many different policies. Every state has its own requirements for the policies you need to hold. Some require you to carry liability insurance, others add on personal injury protection, and underinsured/uninsured motorist coverage. Liability insurance protects the people in…

Your Kid’s at College – Do You Keep Insuring the Car?

Should you keep your college student on your car insurance policy or have them take out their own car insurance policy when they go away to school? There’s not one right answer. For college students, car insurance premiums can vary widely due to factors such as vehicle type and age, the miles the student drives each year, where the vehicle is garaged, the grades he or she gets in school and driving record. All of which raises the question, are there reasons to keep my college student on my car insurance policy? Or is is better to have them take out their own policy? What if they don’t even take the vehicle they drove through high school to college? As you might expect, there is no single answer. But there are some basic guidelines for making the right decision. Reasons to Keep Your College Student on Your Car Insurance Policy…

Leasing a Car – Does it Make Sense for Your Money?

According to data at Statista, about 30 percent of Americans lease their vehicle. Are they onto something good or are they making a huge financial mistake? Let’s take a look at how vehicle leases work, pros and cons of leasing a vehicle, how a vehicle lease impacts your auto insurance, and whether or not a vehicle lease makes sense for you. How Car Leases Work When you buy a car, with or without a loan, it is clear you own the car. And it’s clear what happens when the loan is paid off. With a lease, things work differently. Rather than owning the car, people with a lease are essentially long-term renters. With a lease, you make a regular monthly payment for a fixed period of time. There may be some additional costs based on how many miles you drive. At the end of the lease, you have the option…

What are the Benefits of Bundling Home and Auto Insurance?

We’ve all seen the ads. Whether in a museum of inexplicable accidents or a fitness class where alter egos debate coverage, the messaging often includes: Bundle your home and auto insurance.  But should you? It often leads to greater savings and better service. Let’s explore why. Most Carriers Offer Multiple Products Bundling home and auto policies provides a good deal for most. If you can get a single stop for your insurance needs — and save money — who wouldn’t?  Aside from financial savings through companion discounts by purchasing multiple policies, a single carrier can save you time. Bundling Policies Should Save Money For bundling to make sense, combining your home and auto insurance under a single carrier should save you some money. Often called a multi-policy or companion discount, bundling home and auto insurance can save you as much as 20 percent to 30 percent on premiums than if you purchased…

What's Covered by Insurance When Your Car is Stolen?

Pop quiz: What is the most popular vehicle in the United States? If you answered the Ford F-150 pickup, you know the auto industry. What about the most popular vehicle among car thieves? If you said the 1996 Honda Civic, you know the insurance industry. So what happens if your vehicle disappears from your driveway, parking garage or wherever you last parked it? From an insurance standpoint, it all depends on the type of policy you purchased to cover the vehicle. If you’re driving a ’96 Civic, chances are you’re carrying only liability and/or collision insurance. That’s a wise decision for a 22-year-old ride. Unfortunately, you’d be out of luck as far as recouping the value of that car. However, if you have a comprehensive policy, you can expect a check for whatever your stolen make and model is worth, minus the deductible. Simple enough, right? Yes and no. It…

What Impacts the Price You Pay For Auto Insurance?

Many factors can affect how much you pay for auto insurance. Most insurers start with demographics, but personal behavior matters too. What matters most to insurers? It is a variety of reasons but some things are out of your control. The Gender Gap While it might sound discriminatory or unfair, how you identify might increase your premiums. Statistics show women are more likely to avoid accidents, less likely be cited for moving violations, such as driving while impaired or speeding, and tend to buy cars that cost less to insure. Women also don’t drive as much as the typical male. Auto insurers consider these factors when calculating premiums. Experience Behind the Wheel Counts Inexperienced teenagers, not surprisingly, are the priciest group to insure because they have more accidents. Once a person turns 25, premiums typically start to drop — but they start to rise again once you turn 60. To Have…

Personal Finance Habits for Your 50s

After reaching important financial milestones in your 20s, 30s and 40s, things should calm down a bit in your 50s. If you followed good financial practices, you should have sizeable and growing retirement savings, shrinking debt and a clear path to retirement. And if you are off of your ideal plan, be sure to put the right habits in place right away to get yourself on the right track. While you can’t go back in time and change past spending and savings habits, you can start the right habits today. Start with these five personal finance habits for your 50s to get started. Pay Off Non-Mortgage Debt While the average debt for American households overall is on the rise, you should be working hard to fight that statistic for your own family. In your 50s, you should be saving and swelling credit card debt loads can crush those savings rates…

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