Automotive

Auto Insurance A Necessary Expense?

Auto Insurance A Necessary Expense?

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Life has become so complicated nowadays that people have to multitask and perform different functions and roles all at one time. The increasing population as well as the diversified activities of man has made efficient transportation a must.

People who have to go to work everyday have the option to purchase their own vehicles or to take the public transportation. There are pros and cons to both choices. Taking the public transport would mean having to wait up for bus or train schedules and to race for available cabs. Driving their own cars would however mean having to face parking problems and high fuel costs. More Below:

Get Cheap Car Insurance For Your Teenager - Three Tips To Save Money

Get Cheap Car Insurance For Your Teenager - Three Tips To Save Money

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Our children bring us great joy – first words, first steps, and first days of school, to name a few. Our children also bring us great worries and expenses, many of which are preventable. An event that brings us both worries and expenses is when our teenagers begin to drive. Statistics for auto-related injuries and fatalities keep us biting our nails until our teenagers get home, and the same statistics have us emptying our bank accounts every month for high car insurance costs.

While we may not be able to drive our teenagers every where they need to go for the rest of their lives, there are several ways we can get cheap car insurance for our teenagers.

Auto Insurance Information And Terms – Motor Vehicle and Car Coverage Varies By State Laws – Liability Collision Comprehensive

Auto Insurance Information And Terms – Motor Vehicle and Car Coverage Varies By State Laws – Liability Collision Comprehensive

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(Best Syndication) Auto insurance is one of those requirements for driving a car, along with a valid driver’s license. Although indemnity obligations may vary, every state except New Hampshire requires some sort of policy before you can drive on public roads. In California, drivers may have their vehicle impounded if caught driving without the basic coverage.

Typically, drivers are required to cover the loss and damage to their own. The obligatory policy protects the “third party” and the financial consequences of their loss, damage or injury caused by your vehicle. Most of the time it is optional to cover your own vehicle against damage. Of course the law may vary according to state, so check with your insurance broker to determine your minimum requirements.

There are a number of factors that determine the insurance rate. Age, driving record and type of car help underwriters calculate the risk to the insurance company and the premium amount. In some instances, the rates may be set by law.

When the premium is not set by the government, insurance companies usually determine the rate from the calculations of an actuary based on statistical data. Since women get in fewer accidents, their cost of coverage may be lower. But if the woman drives long distances to work, this may adjust the rate upward.

Liability insurance covers claims against the specified car owner and those who may drive the car. The coverage may exclude others at the policy holder’s address unless they are added to the policy. The coverage may be car-specific and may not cover the holder if he or she drives another car. Check with your insurance agent before you choose your plan.

The policy will spell out the maximum liability to be paid in the event of an accident. The owner may be liable for ancillary damages caused by the accident. For instance, if the driver hits a power pole, the insurance will pay for the pole but not the loss-of-service claims.

Some policies will cover the owner in a rental car while others may not. When in doubt, you may want to pay the rental company for the coverage when you rent a car. It may be worth the peace of mind.

Collision insurance will cover damages to your car in the event of an accident and it is your fault. When a vehicle is not worth the deductible, it is usually not practical to get this coverage. For instance; if your car is only worth $700 and you have a $1,000 deductible, the company won’t pay you anything if you are involved in an accident.

Comprehensive will cover your damages even if you are not involved in an accident. For instance, if your stereo is stolen, this policy may pay for a replacement. If your car catches on fire or is damaged in a hail storm, you may be covered.

But what if you are hit by someone who does not have insurance? You can get Uninsured/Underinsured coverage (also known as UM/UIM) that will pay you if the other party is at fault and does not have insurance. If the other party does not have enough coverage, this coverage may kick in and pay the difference.

You may be able to get rental coverage with your policy. This will cover rental expenses in the event that your car needs to go into the shop for a covered loss.

Policies can also be purchased to pay off the lease or the loan on the car in the event that your car is totaled. Sometimes referred to as GAP insurance, the policy is practical if you buy a new car.

When a new car is driven off the lot it loses value. Your loan may be worth $40,000 while your car immediately becomes valued at $35,000. If you are involved in an accident soon after your purchase, you could be liable for that extra $5,000. GAP insurance will pay that difference.

There are various types of towing insurance policies. Some policies require you to pay for the towing cost up front and then submit an application for reimbursement. Triple A (AAA) offers great Roadside Assistance coverage because there is no out of pocket expenses.

There is no single policy that fits everyone. Compare the policies and the various options to determine which one is right for you.

By Dan Wilson
Best Syndication News Writer

Citi and JP Morgan Unable To Unload Chrysler Loans – Stock Prices Fall

Citi and JP Morgan Unable To Unload Chrysler Loans – Stock Prices Fall

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(Best Syndication) Citi and JP Morgan shares fell Wednesday when investors learned that the companies were having trouble unloading billions of dollars worth of loans to finance Cerberus' buyout of Chrysler Group and Kohlberg Kravis Roberts' buyout of Alliance Boots. Both Citi and Morgan have a larger debt load of unwanted debt securities on their balance sheets.

Their stock prices were down 1% on the news. The Street reports that the setback comes as the banks and their Wall Street rivals have belatedly sought to rein in their exposure to risky debt. According to their sources in the market, banks have cut back funding to collateralized debt obligations that buy mortgage debt, and increased their collateral requirements for lending to hedge funds.

Senate passes Renewable Energy Bill – New Fuel Standards set for Automakers

Senate passes Renewable Energy Bill – New Fuel Standards set for Automakers

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[Best Syndication] The Senate voted 65 – 27 in favor for legislation to change the national fuel economy requirements for automakers and also to increase ethanol manufacturing. Missing from the package was a $32 billion tax proposal that would have raised some taxes on oil companies that would be invested into renewable energy sources such as wind, solar and geothermal.

What did get passed was an increase in fuel economy standards for automakers from 25 mpg to 35 mpg by the year 2020.

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