Credit Life Insurance

Credit life insurance is a type of insurance that is bought by people who are repaying their debts and want to make sure that in the event of their death, the dues are paid off by the policy. There are some lenders that ask for credit life insurance before they actually approve your loan. Such an insurance policy can be bought for life or for a term period. Credit life insurance could be an individual or a group policy.

Why Credit Life Insurance

Credit life insurance is a good option so that your debt is eliminated and doesn’t have to be paid by your family in the event of your death. The premiums for credit life insurance are usually collected on a monthly basis, and their amount depends on the balance of the loan amount. It’s not that a credit life insurance has to be a single coverage; some companies offer double coverage in them.

Credit life insurance comes in handy when you want to purchase something eagerly. For instance, the purchase of your vehicle could be made easy through your credit life insurance because it will stay protected in the untimely event of your death and your family won’t be deprived of it. The good thing about credit life insurance is that most companies don’t ask for a physical exam while you purchase this cover. Also, the occupation that you have adopted is not a hindrance and the coverage begins immediately from the point of your purchase.

Understand The Difference

The basic difference between regular life insurance and credit life insurance is that the policy beneficiary in this case is the creditor, not a family member or a friend. Apart from that, credit life insurance policies are usually term policies as compared to regular life insurance plans. Experts also recommend that as compared to credit life insurance, you can buy term life insurance, which would give you much better coverage along with leaving sufficient money to dispose of your loans.

Buying Credit Life Insurance

You can easily hunt for a good credit life insurance policy on the Internet, where you will have many free quotes and will also be saved the trouble of dealing with overzealous salespeople. Don’t simply select the first policy that is offered to you. You can negotiate terms and also shop around for a deal that gives you value for your money. There are some more important things to check before signing on the dotted line, like if the rate of premium will decrease with the decrease in the loan amount and if so, what the percentage is.

One form of credit life insurance is single premium credit life insurance. This has been blacklisted as one of the most expensive kind of insurances that is sold. The sales agents involved in such deals often get 40% of your premium money. This credit life insurance works by adding the entire amount of the policy to the amount of the loan at one go.

Considerations for Credit Life Insurance

Credit insurance is not high ranked in most of the states, since the legal fine print in such policies makes it difficult for people to make their claims. Credit life insurance that is payable in monthly installments as opposed to a lump sum payment is the preferred option if there is a dire need for them. Home equity is basically the biggest asset for homeowners. Experts feel that with credit life insurance, this equity is actually being stripped off and could even result in the loss of one’s home in some cases. Therefore, if you want to go in for credit life insurance, do so at your own risk. But a word of caution, be sure to read the fine print and ask about it if you can’t understand.

(http://www.usinsuranceonline.com)

Supplemental Insurance Considerations

By: Lance Winslow

More than one labor union has gone on strike over health care coverage, benefits and insurance. Most companies have no choice as health care costs rise, medical lawsuits grow and health insurance goes through the roof, but to increase their costs to employees or lower the benefits. Nearly 80% of the companies are doing both. Today, fewer companies are offering health insurance than they were in 1999, about 8% for employers in America, that is a prime example of how serious this really is.

During this time health care insurance premiums have climbed some 15% and they do not seem to be slowing down, each year the costs go up. When you throw in a little stagflation, and harsh economic times you can see it is the Middle Class American Worker that is getting hammered here, these are the same families that are raising our next generation and one only has to wonder what will happen if the trend continues. What can a family do?

Well, they do have the option of buying supplemental insurance that will help with deductibles, copayments and kick in where coverages run out or where the employers insurance does not cover. Many supplemental policies also cover disabilities that lead to inability to work, loss of income or long-term illness preventing work. Perhaps you should look into a supplemental policy to protect you and your family. Maybe you can get with an insurance agent and discuss these things, see what makes sense, do an audit of the insurance you already have and figure out what you need and what that extra supplemental insurance might run you. Give yourself and your family a little peace of mind, please consider this.

"Lance Winslow" - Lance Winslow's Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.

(http://ezinearticles.com)

PMI vs Combo Loans

Now that private mortgage insurance (PMI) is tax-deductible, many borrowers may be considering a single loan instead of a “piggyback”. Mortgage insurance is required for any single loan over 80% loan-to-value, though it can be avoided if you execute a combo loan, keeping the first mortgage at 80%, and putting the remainder on a second mortgage.

So which method makes better sense for you? Let’s look at some of the benefits of each.

Combo Loans Eliminate the Need for Mortgage Insurance

The obvious benefit of utilizing a mortgage combo is that you can avoid paying mortgage insurance each month. By breaking the loan amount up into two loans, you can circumvent the mortgage insurance requirement, which in turn can save you hundreds of dollars a month. An example would be an 80/10 which is expressed as an 80% first mortgage with a 10% second. Together it is 90% combined-loan-to-value, but since the first mortgage stays at 80%, PMI is not required.

Combo Loans Often Yield Lower Blended Rates

More times than not, a blended rate can save you money. Imagine one loan with PMI at a rate of 7.5% versus a combo loan at a rate of 6.5% on the first mortgage, and 9% on the second loan. While 9% may seem high, often the second mortgage is only ten percent of the purchase price or appraised value, so the blended rate here is actually 6.778%. That’s considerably cheaper than the 7.5% interest rate you’d get with a single loan, and that’s without even factoring in mortgage insurance. Check out our blended rate calculator to determine if two loans price out better than one.

Combo Loans Allow More Financing Options

Typically, a single loan will only allow you to finance 95% loan-to-value, but a combo loan will usually give you the option to finance up to 100% of the purchase price. In addition, loan amount limits will likely be higher, so you can finance higher loan-to-values at higher loan amounts. Mortgage combos offer the flexibility to structure your loan in a variety of different ways, such as 65/25, 75/15, 80/10, and so on. That means you can play around with interest rates to find a blended rate that suits your situation best. You can also put less money down and get a better home without the need for mortgage insurance.

Mortgage Insurance Can Help you Avoid High-Cost Second Mortgages

There are situations where a second mortgage can be as high as 13% which is a pretty nasty interest rate. If you elect to stick to one loan with mortgage insurance, rates will be more reasonable, often not exceeding 8% for average to good credit borrowers. Along with a lower interest rate, you’ll also avoid fees that come with second mortgages, such as underwriting, doc drawing, origination fee, and anything else a broker or lender may charge you. And you won’t need to worry about a prepayment penalty or early closure fee that second mortgages often carry.

Mortgage Insurance Streamlines the Loan Process

Sometimes breaking up the mortgage into two separate loans can be a lot more work, especially if the loans are being handled by two different banks. It’s not unusual for a bank to do your first mortgage and have the second outsourced to another bank. This can make things difficult if the two banks are not in sync, and can often create twice the amount of work, and subsequent headaches. Also consider post-closing, when you’ll need to make out two separate checks each month for the first and second mortgage. And if you’re ever late, you may be hit with two mortgage lates instead of just one, which could make future financing extremely difficult.

Mortgage Insurance is Temporary

While mortgage insurance does increase your mortgage payment each month, it does so only until your mortgage balance reaches 78% of the original purchase price of your home. At this point PMI is automatically canceled by the lender. And if your loan-to-value reaches 80% you can initiate the cancellation yourself even earlier. So if you decide to finance a single loan at 85%, it may only take a year or two to eliminate the need for PMI and lower your monthly housing payment.

Mortgage Insurance is Tax-Deductible

This is a new benefit that was passed by Congress in December 2006, though it must be voted on again this year to remain valid for next year. PMI is now fully tax-deductible for borrowers if their adjusted gross household income is $100,000 or less. The amount you can write off is then incrementally lower as your household income rises.

So Which Option is Better?

PMI companies highlight the fact that mortgage insurance is predictable, affordable, and cancelable. They also say that second mortgages are often adjustable-rate mortgages and that you’re stuck with the loan until you pay it off. You can argue for or against PMI and combo loans, but the only way to decide what’s best for you is to do the math. You really need to shop around and crunch the numbers to see which scenario makes more sense for you. There will be cases when each are more attractive based on a variety of factors including loan amount, down payment, transaction type, credit score, income tax bracket, and much more.

You also need to consider how long you’ll be in the property, and what you plan to do with the home. Be sure to factor in housing prices in your area, and whether they are appreciating or dropping. If prices are on the rise, you may reach that 80% loan-to-value mark quickly and you’ll be free of PMI with only one loan to worry about. If prices drop, you could be stuck with PMI for years to come. If you don’t like the idea of PMI or a second mortgage, there’s always the Bank of America No Fee Mortgage which promises no mortgage insurance even if your loan exceeds 80% loan-to-value.

(http://www.thetruthaboutmortgage.com)

Check Mortgage Insurance Protection Cover Out Online

By Simon Lance Burgess

Checking out mortgage insurance protection cover is imperative before you rush into taking it out. There are many factors you have to be aware of if you are to ensure suitability for your circumstances. You also need to get the cheapest premiums, while at the same time buying a quality product. With this in mind you need to turn your thoughts to independent providers of payment protection, as these offer you the cheapest premiums and plenty of information.

Information about the mortgage insurance protection cover you are considering is essential, as this is where the exclusions can be found. Once you have checked them against your lifestyle you can then rely on the cover. A policy is taken out for a fixed premium based on the amount you want to insure of your mortgage and the level of cover needed. Some providers offering age based mortgage protection will take your age into account and this is where first time buyers with huge mortgages and little spare cash can benefit.

You are able to choose the amount of protection most suitable. A policy can be taken for accident, sickness and unemployment together. However you could also just choose to protect against incapacity only or unemployment only, whichever suits your circumstances better. The amount you choose to protect will be the amount that is paid out to you, tax-free, if you need to put in a claim. All standalone specialist providers will set a limit on the amount that you are able to take insurance for each month, so check this in the terms before taking it out.

You would have to stand to so many day of unemployment or incapacity, but some providers will backdate to the first day you become unemployed or were incapacitated. Providers will usually state anywhere between days 30 and 90 and then the policy would continue paying out for either 12 months or 24 months. This is usually enough time for you to have made a full recovery and be able to go back to work, or for you to have found work again.

Mortgage insurance protection cover could give you the money needed for you to keep out of arrears with your mortgage repayments. It is a far better solution than considering falling back on savings or believing that the State would step in and provide you with your mortgage repayment. You would have to be eligible to make a claim for State benefit and this means meeting many requirements. You cannot have over a certain amount of money in the bank and you also cannot have anyone living with you who are earning a full time income. Even if you were entitled to receive State benefit, the money it provided would only go towards the interest payment on your mortgage. You could also have to wait for several months before you would see any benefit. While mortgage payment protection does have some conditions that have to be met, once you have checked it is suitable you would have protection you could rely on.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage insurance protection cover.

(http://ezinearticles.com)

House Mortgage Insurance

House mortgage insurance rates have risen tremendously over the past few years. In certain parts of the country, some insurers are even refusing to sell new policies and/or renew policies because losses have been so high. Florida homeowners, for example, were hit by a number of costly natural disasters in 2004, and many people are finding it very difficult to get homeowner's coverage, especially if they never had it before. It makes you wonder what consumers can do to help keep premiums down and make sure that their insurers will renew their current policies. There are a number of ways that homeowners can help to keep their premiums down and help to insure that their policies will get renewed. First and foremost, it is important to keep the number of claims filed down to a minimum or none at all. Just because a claim can be filed does not mean that it should be. House mortgage insurance should be used mostly for costly emergencies, especially if an individual already lives in a high-risk area. Too many small claims that are filed throughout a year or two can make insurers not want to renew a policy or substantially raise the premiums. Another good way to help keep house insurance premiums down is to raise policy deductibles. If an individual currently has a deductible of $250 or $500 respectively, it could end up saving them quite a bit if they raised it to $1,000 or $1,500 instead. Generally, just by doing this, individuals can save between 10 and 20 percent on the premium. Naturally, consideration needs to be given as to whether or not the individual can absorb the deductible amount in case they suffer a loss of some sort. When you are looking for some house mortgage insurance do your research on the best policies that suit your specific needs, and be sure to think about the are in which you live.

(http://agonist.org)

Mortgage Protection Insurance

Mortgage protection insurance, also known as mortgage life insurance, is a type of life insurance purchased to cover your mortgage and provide financial protection in the event of your untimely passing. Not to be confused with Private Mortgage Insurance or PMI (which is used to protect your lender should you default on payments), mortgage protection insurance is instead used to protect your family and your home.

With a mortgage protection insurance policy, the death benefit is used to pay off the remaining balance on your mortgage. And if your mortgage is for thirty years, then a thirty year term life insurance policy is normally purchased (however, depending on the time remaining in the mortgage and other needs, the term of the policy can be more or less than the term of the mortgage).

Mortgage protection insurance can be purchased with the sole purpose of paying off your mortgage, but many financial planners would suggest that you look at your financial situation as a whole and buy a life insurance policy that takes all of your finances into account. That being said, mortgage protection insurance—purchased solely to pay off a mortgage or coupled with other needs—is a great investment that creates peace of mind now and could potentially save your family a lot of financial stress at a time when more stress is not needed.

At Wholesale Insurance, our goal is to make getting mortgage life insurance easy, affordable, and stress-free. To instantly see accurate mortgage life insurance quotes, fill out the form on this page.

(http://www.wholesaleinsurance.net)

Why You Need Mortgage Repayment Protection Insurance

By: Robert McKnight

A house is the largest purchase that most people make during their lifetime. Not only does it represent a sizable investment, but it is where you live. Your memories are kept there, along with your possessions. Learn how to protect your ability to pay your mortgage even if you should become unemployed.

Mortgage Repayment Protection Insurance Pays Your Mortgage When You Can't

If you were unable to work due to illness or disability, would you be able to make your mortgage payments? Many people just don't have the financial means to keep up with their financial obligations if they don't work. While you may qualify for unemployment benefits, these do not pay enough for you to keep up with all of your financial obligations.

When you consider what is at stake if you can't make your mortgage payments, buying mortgage repayment protection insurance coverage may make good financial sense. If your home was repossessed, you would need to find another place to live, in addition to dealing with the fact that you are between jobs.

Mortgage Repayment Protection Insurance: Questions to Ask Before Buying

Before you decide to buy mortgage repayment insurance, make sure you take the time to investigate your options fully before choosing a plan. You will want to compare rates and find out what level of protection you are getting for the premiums you are paying. It's a good idea to ask whether there is a waiting period before you can collect benefits under the policy. If you choose a plan with no waiting period, you will pay more in premiums but if you need to make a claim, you will start receiving benefits sooner.

Find out whether the plan you are considering pays out for a certain number of weeks only if you are laid off from your job. You may only be able to collect benefits for up to 12 months. If you become sick or are off work due to an injury, the maximum number of weeks you could collect benefits may change.

Your mortgage repayment insurance may also include a life insurance portion as well. If the first named person on the policy passes away, your mortgage may be paid off in full. This means one less bill to be concerned with when the worst happens, and is an attractive option for a number of people. Other life insurance coverage can be used to replace that person's income or to pay off other debt. Many people are caught in what is known as the "Sandwich" generation. They are caring for their children as well as aging parents. Some mortgage repayment protection insurance plans will pay out benefits if you need to take time away from work to become a full-time caregiver.

When Mortgage Repayment Protection Insurance is the Right Thing to Do

The main reason why you need mortgage repayment protection insurance is that it's part of an overall financial plan. You want to anticipate future events that may affect you and your family's financial future. You have worked hard to be able to buy a house and you want to make sure that you will be able to keep it if your earnings are interrupted. Take steps to insure that you can make your mortgage payments even if you should become unemployed. Get started finding mortgage repayment protection insurance today!

Article Source: http://EzineArticles.com

Auto Insurance Companies - Which is Best?

Selecting the best auto insurance company – best rates and best customer service

People use different criteria for choosing an auto insurer. Some base their decision on the opinions of friends, some on marketing and advertising promotions, and others simply on the cost of premiums.

Typically, new auto insurance buyers tend to choose the lowest cost provider, assuming that most providers are essentially the same. As they become more experienced, and after having made a claim or two, they become more wise to other factors that determine a good car insurance company. Let's be clear, all insurance companies are not alike.

Eventually, most automotive insurance buyers place the most importance on how companies treat them after filing a claim. Low premiums become much less important if a company won't pay when they should, or immediately raise rates after an accident.

What's the problem?

Many thousands of auto insurance customers are happy with their insurers. A significant number of people have been with the same insurance company for 15 years or more. However, other customers don't find their companies very satisfactory. The most frequent complaints that customers have with car insurance providers are:

· Refused claims

· Slow adjustment process

· Unsatisfactory payout on claims

· Feel forced to use insurer's repair shop

· Poor repair quality

· High premiums

· Company raised rates after accident

· Lack of personal attention or compassion

· Billing, policy, and other non-claim issues

Unfortunately, most of these problems don't surface until after a claim has been filed, when it's too late to find another company. That is why it is important to do your homework before selecting an insurance provider.

If you have been involved in an accident and are being sued or are not satisfied with your insurance company, you may need to get help from an auto accident attorney.

How to choose the best car insurance company
There are a number of ways you can go about choosing a good insurer:

Research consumer opinions

Consumer Reports magazine frequently surveys readers on auto insurance companies. The last large survey results were reported in the March 2006 issue. The survey measures overall customer satisfaction and claim problems. Of the 27 companies reported, satisfaction score difference between the best company and the worst company was only 16 points out of 100. This is hardly enough of a difference to make for a solid decision choice. Find the report on Consumer Reports' web site (a subscription fee is required) or look for the magazine at your local library.

Browse online forums

Consumer forums and automotive discussion boards often have sections in which car insurance is discussed. These sources change frequently and the quality of the information can vary widely, so don't use this as your only research source. Remember that people who have experienced problems are more likely to post comments than those who don't have problems.

Ask repair shop managers

Nobody knows about car insurance companies any better than the body shops that have to deal with them. Ask the owners or administrative managers of accident repair shops about which insurers are the best to deal with – which are the least trouble when settling claims and paying for proper repairs. We've seen body shops in which auto insurance company ratings were actually posted on the wall in the waiting room. Don't forget your car dealer's body shop, if he has one.

Check state government data

Most states have departments that regulate insurance companies and and handle complaints against them. This may be the Attorney General's office of consumer affairs or it may be the office of the Insurance Commissioner. You can often find which auto insurance companies have the best and worse complaint rates on your state's website. Actually, it may be helpful to look at other state's web sites as well. Just be aware that most state web sites are not well designed and it may be somewhat difficult to find the information you need.

Use broker web sites

Insurance broker web sites (see recommended sites below) are one of the best and easiest ways to compare auto insurance companies online. Brokers work with multiple insurance companies so that they can offer customers a variety of choices to meet their needs. It's easier than shopping individual companies on your own. Their services are free. Some of these broker sites contain comparative information and ratings.

Get quotes from as many companies as you can (quotes are free) so that you have plenty of data to compare. The more information you provide when asking for a quote, the more accurate your quote price will be. Many people overpay for their insurance simply because they do not shop around enough.

(http://www.leaseguide.com)

Cheap Car Insurance - Rates, Quotes Online

Let's say it right up front. There is no really cheap car insurance. However, there is almost certainly insurance available that costs less – possibly significantly less – than you are paying now. Car insurance is one of those annoying expenses in our lives that has no immediately apparent benefit, unlike the cost of a meal in a nice restaurant or the purchase of new music CD. State laws require it and we know deep down we should have it, but that doesn't make it easier to pay for it. Of course, it can bring some peace of mind knowing that we are protected financially if bad things happen. And there is nobody who denies being happy they have insurance when bad things do happen.

Given the fact, then, that insurance is necessary, how do we make sure we pay as little as possible for the coverage we need. Cheap car insurance is not difficult to find if you use the following tips.

Shop for the best rates

Car insurance companies charge different rates – differences of $1000 or more a year – for the same car, the same driver, and the same coverage. There are no "standard" insurance rates. Each insurance company sets its own risk-based rates, according to its own data and claim experience. Rates can change multiple times in a year.

Even if your current company had the cheapest rates a few months ago, the rates may have changed such that they are no longer the cheapest. So it pays to shop around and get free quotes from a number of insurance providers. Quotes are quick, free, and easy to obtain, especially from online insurance company web sites such as eInsurance.com. It costs you nothing to switch to a different car insurance company that provides better rates and better meets your needs. If you switch, be sure to ask for a refund of any prepayment to your current company.

Auto insurance for teen drivers

Teenagers driving for the first time, especially boys, suffer the highest auto insurance rates of any other category of drivers. The reason, of course, is that, as a whole, this group represents the highest risk of accident claims.

Insurance costs for teens can easily be the highest of any other costs associated with owning and driving a car. Without a driving record and credit history, teens automatically get assigned the highest rates. In addition to the tips below, young drivers should work to minimize insurance rates by making good grades, taking driving courses, and avoiding high-powered sports cars. It is also cheaper to be listed as a driver on parents' policy than to get a separate policy.

Select vehicles with lower insurance costs

The car you drive can make the difference between cheap car insurance and expensive car insurance. Cars that cost the least, have the lowest repair costs, are in accidents less often, and are stolen less frequently are the least expensive to insure.

In general, the older the car, the less expensive the car, the safer the car, the less insurance will cost. Insurance rates for expensive luxury cars are considerably higher than for economy compacts. Sports cars suffer from generally higher rates than family sedans. High performance cars in the hands of teenage drivers will cost a small fortune to insure. Frequently stolen vehicles such as the Cadillac Escalade cost more to insure than cars with less "thief appeal." Surprisingly, some older cars such 1990's vintage Honda Accords are frequently stolen for parts, and are more expensive to insure.

Here's a list of the cars that are least expensive to insure, and a list of those most expensive to insure. Insurance rates are reduced for vehicles with extra safety equipment, such as stability control and side air bags. When car shopping, ask your insurance company to quote you rates on each of the different models you are considering – or get your rates on the Internet.

Watch your credit score

Yes, many car insurance companies now use your credit score to set your rates. Studies show that people with low scores tend to submit more claims. People with low scores can pay as much as three times more than those with excellent scores. Therefore, it's wise to know your credit score before you shop for insurance.

Select coverage options that best meet your needs

Collision and comprehensive insurance coverage for your own vehicle pays for the cost of repairs or for the value of your vehicle in case it is totaled or stolen. You could consider dropping collision coverage when your vehicle has aged to the point that your annual collision premiums are significant when compared to the vehicle's replacement value. Be aware that, if you still have a loan on your vehicle, your loan company may require collision and comprehensive coverage.

In their quest for cheap car insurance, many teenage drivers often choose to do without collision and comprehensive coverage. However, this can be a huge mistake. Drivers who have struggled to save money for a car, or have taken out large loans, are devastated when they realize that there is no insurance coverage when their car is stolen or totaled in an accident. It happens all too frequently. There's one good case for not buying full insurance. If you have enough cash savings that you would be willing to risk to pay for your car's repairs or replacement in the event of an accident, you could "self-insure" yourself and avoid the cost of collision and comprehensive coverage.

Most states have laws that dictate the minimum liability insurance coverage you must carry. In these days of sue-happy accident victims and high medical costs, it is good to have as much liability coverage as you can afford. Remember, if you get sued for an accident and your insurance is insufficient, you may find your personal assets in jeopardy. Financial ruin could be only one accident away.

Location is important

Auto insurance costs can be dramatically different depending on where you live. If you live in New York state, you pay the highest rates in the US. If you live and work in a heavily populated metropolitan area, you pay more than your cousin who lives in a nearby small town. Should you have a choice in where you live, work, and drive – which many people do not – you can affect your car insurance cost by choosing the right location.

Gap protection

If your vehicle is totaled or stolen, your auto insurance is only going to pay the amount that the vehicle is worth, not what you still owe on a loan or lease. This point is misunderstood by many consumers. If you are "upside down" on a car loan or lease, you'll have to come up with the cash to pay off the remainder of the amount you owe. To prevent this situation, you need "gap" insurance. Gap coverage is usually included in leases, but almost never for loans. Unfortunately, this type of insurance is a little hard to find. Some auto insurance companies offer it, some extended-warranty companies have it, and some dealers sell it. Fortunately, gap coverage is not very expensive and can be dropped as soon as you pay enough of your loan or lease to exit your "upside down" situation.

Avoid at-fault accidents

Pretty obvious, but one of the factors that contributes most significantly to high auto insurance rates is the at-fault accident history of a driver. Insurance companies typically raise rates after only a single accident, assuming that other accidents will follow. Since accident reports are shared between insurance companies, don't think you can avoid higher costs by switching companies. This might work in the short-term but it will soon catch up to you.

Choose a higher deductible

One of the easiest paths to cheap car insurance is to increase your deductible — the amount you're willing to pay out-of-pocket when you make a claim. For example, raising your deductible amount from $500 to $1000 can reduce your insurance costs by 30%. Just be sure that you would be able to afford the immediate cash expense in case of an accident.

Check your profile often

Contact your auto insurance company and make sure your personal and family's driving profiles are accurate, and that you are getting all the discounts to which you are entitled (see Auto Insurance Discounts). Your driving record, marriage status, age, commute distance, and home address can affect your insurance costs. Your credit history can also have an affect with some companies. Multiple-car discounts are available, as are discounts for vehicle safety features, anti-theft devices, having home insurance with the same company, and even for getting good grades in school.

Avoid making small claims

Making small claims with your insurance company can trigger rate increases. Certainly, if the cost of repairing minor accident damage is less than your deductible, don't file a claim. Even if the cost is moderately higher, consider the cost of a possible rate increase compared to simply paying the cost yourself.

Check insurance company ratings

Cheap car insurance is not so cheap when the insurance company is difficult to deal with, is not responsive to your needs, and doesn't pay fairly. Therefore, take care in choosing your company on criteria other than premium cost. JD Power, a national research company, publishes a rating of auto insurance companies that can be helpful in selecting auto insurance companies. Some of the companies in the rating only do business in certain states. Furthermore, the evaluations do not include rate comparisons.

Get your own rate quotes

Insurance companies and brokers provide free online rate quotes that allow you to easily compare costs and coverage. The advantage of a broker is that they work with multiple companies and their services are free. We suggest the following companies:

eInsurance is a free insurance shopping service that allows you to compare rates from major national carriers such as SafeCo, The Hartford, Progressive, Allstate, Farmers, and more by simply filling out one online form. By matching your profile with multiple insurance companies, their detailed application form ensures you will receive only quotes that best fit your particular situation. Quotes are 100% free.

Esurance is one of the most recognized car insurance companies due to their clever TV commercials. They are a relatively new company, formed in 1998, but have since become one of the fastest growing insurance companies in the country. They are innovative, value their customers, and work hard to provide excellent service. Get a quote from them to find out for yourself. Get free auto insurance quotes.

GEICO is one of the well-known top four car insurance companies in the country with low prices and the top ranked customer service web site of all. You not only get free quotes but you can file claims, view estimates and photographs, contact your adjuster, and get payment status. They also explain exactly how they process a claim, what to do if you're in an accident, and where to find a repair shop near you. A great web site!

InsureMe is an established and popular company, having been around since 1993. They have a network of thousands of participating insurance agents and companies across the United States, including in your neighborhood. Once you complete their online form, they match your profile to as many as five companies, who will provide you free rate quotes that you can compare and choose from. Remember, you are not obligated to accept any of the offers.

Be careful where you buy

Beware of car insurance companies that offer unrealistic low rates for high-risk drivers. Such companies can charge cheap rates because they don't pay claims. Affordable rates are one thing; getting paid when you have an accident is quite another. Be sure to research any such company before you make a decision about cheap car insurance.

(http://www.leaseguide.com)

Different Types of Auto Insurance

If you own a car, no doubt you’ll understand when people sit around complaining about the cost of their car insurance. But, the fact is that the cost of you car insurance is going to depend as much on what type of car insurance you buy as it is on what insurance company you use to insure your car.

So, what are the different types of auto car insurance options available?

Auto Insurance Policy Types

Fully Comprehensive Auto Insurance

Fully comprehensive auto car insurance is without doubt the most expensive. However, with so many cars financed by finance companies, it is also probably the most common type of auto insurance – as the finance companies make it a requirement that the owner insure their automobile fully comprehensive.

In short, as its name suggests, fully comprehensive auto car insurance insures the owner of the car against all manner of events – from an accident to theft of the car. The upside of this type of insurance is there is no need to show ‘fault’ in order to claim. So, if you have an accident, which is not your fault, and the owner of the other car, who is at fault, doesn’t give you his insurance details, or, worse, is uninsured, you can still claim against your insurance company. Similarly, if your car is stolen, then fully comprehensive insurance allows you to claim against the insurance company.

However, do read your insurance policy carefully, as most auto car insurance companies refuse to insure 100% of the value of a car, choosing instead to only insure 80%, or so, of the value. The auto car insurance companies claim that doing this prevents fraudulent losses of cars where the owner of the car either no longer wants the car, or is encountering financial difficulty.

Third Party, Fire & Theft

Third party, fire & theft auto car insurance is a middle of the road car insurance package popular with those who have already paid off their auto loans, but who still have a certain level of intrinsic value in their car.

Under this type of auto insurance, most of the pay-out events covered under fully comprehensive auto insurance are covered – such as fire & theft. However, in the event of an accident, the insurance company is only required to pay-out if you are at fault, and you hit another car. So, in the event that you hit a wall, or only damage your car, the insurance company will not be required to pay. Likewise, if you are involved in an accident with another car, and are not at fault, your insurance company will not be required to pay-out, regardless of whether or not the other person has sufficient insurance to pay for the damage done to your car.

Third Party Insurance

Third party insurance is the ‘basic’ type of insurance, and only covers circumstances where you are involved in an accident, are at fault, and hit a third party. In all other events, the auto car insurance company is not required to make a payment. As such, it is also the cheapest type of auto car insurance you can purchase. That said, this type of insurance is usually only purchased by those car owners who have an old car with little or no value.

Specialized Car Insurance

Finally, strictly speaking any car over 25 years old is considered a ‘classic’. As such, this type of car should be insured as a classic car – with all of the benefits and requirements of such. Although ‘classic’ auto car insurance usually has all of the benefits of fully comprehensive auto car insurance, one significant disadvantage that classic car insurance has is that you are usually limited to the number of road miles you can drive in any given year – so check your policy carefully.

(http://www.moneyinstructor.com)

Is Your Auto Insurance Enough?

By: Michelle Crimson

Mother Nature can really create a wreck from a really powerful looking vehicle. And according to statistics, the vehicle losses have gone straight up. These vehicle losses include those that became the target of hurricanes, tornadoes, hailstorms, firestorms, floods, and other forms of Mother Nature’s wrath. This date is according to the International Organization for Standardization’s (ISO) Property Claim Services (PCS) department. This department is the official authority on insured property losses from catastrophes in the areas of the North Americas including Puerto Rico and the Virgin Islands.

According to Ron Berry, who is the senior vice president at the Council of Better Business Bureaus, "Drivers spend a lot of money on auto insurance and it is important for them to be as familiar as possible with what their coverage includes when they’re making their purchase decision. But too often, people shopping only for the lowest rates do not notice their lack of certain types of coverage until they try to make a claim." With this, it is indeed important that you do ask for information about auto insurance from experts before you do go ahead and make that purchase.

Now, according to experts, you should also be able to know what you purchased if you already have auto insurance for your car. That way, if your car gets damaged, you would be able to know if you would be able to get some claims. You should be informed about the details of your insurance. Also, if your car gets damaged, report it as soon as possible. If your insurance policy entitles you to claims, by reporting the damage as soon as possible, the insurance company can have it towed to a repair center and start work immediately. You see, some insurance policies even cover a replacement car during the time that your car is still in the works.

As Jaguar keeps on producing cars that have this distinct blend of luxury and performance, Jaguar Parts and Jaguar Auto Parts maintains its lead on product excellence through its great supply of quality Jaguar body parts and many other Jaguar accessories. You have a choice from the vast array of Jaguar parts at its online store.

(http://www.buzzle.com)

Three Auto Insurance Secrets

By: Steven Gillman

You have heard the usual auto insurance tips, like getting several quotes, and getting home/auto discounts. Why not learn some new tricks? Want to learn something new about auto insurance? Something that can save you a lot of money or get a claim paid? Forget the usual tips. Check out these secrets.

1. Demand the legal policy minimums if you have no assets.

Do you really need a lot of liability coverage if you have no money in the bank? Insurance companies will tell you that you do because you can be sued regardless. It's possible. I can't promise you that you won't be sued and end up paying a chunk of your paycheck to someone for life.

However, honest insurance salesmen admit that people without assets are rarely sued. Lawyers work on a commission in these cases, and won't take a case where there is no money to be collected. In fact, having a bigger liability policy can be an invitation to sue, and it won't protect you from personal liability, because they always sue for more than the policy limit anyhow.

If you have no assets to protect, why buy auto insurance? Because it is a legal requirement. In that case why not just buy the minimum coverage required? But be careful. My own insurance guy lied for years, claiming I had just that, when in fact I was paying for "company-recommended minimums." You might have to push the point, and may even have to sign something saying you understand how risky it is to be "under-insured."

2. Claim diminished value.

If you have a collision policy, your insurance company will pay for the repairs after an accident. However, is the financial damage really fixed? Not necessarily. A car that has been in an accident and had the body fixed may look the same, but it won't sell for the same price. Would you pay the same for a car that has been in an accident?

A car that has been in an accident might be worth $2,000 less than a similar un-damaged car. This is called "diminished value," and may be covered by your policy. However, diminished value is often not paid unless you push the point. Get a car dealer to do an estimate of the diminished value if necessary, and present this to the insurance company. You pay for insurance to have your losses covered, and they aren't covered if you aren't paid for this.

3. Lower your premiums by removing kids from the policy.

You may have already discovered that you pay a lot for insurance as long as you have driving-age children at home. Even if they are off at school, if their legal residence is your house, you pay more. However, there is a little-known exception to this rule. If your children are at a college that's more than 100 miles away, you can have them taken off the insurance policy. This can dramatically reduce your premiums. The catch? They are excluded drivers, so you can't let them drive the car when they come home to visit.

These are just a few examples of the auto insurance secrets that insurance companies probably don't want you to know.

(http://www.buzzle.com/)