Pros and Cons of Combining Coverage on Homeowners and Auto Insurance

First, to avoid confusion, a homeowners and auto insurance in one policy is not possible. The combination or “bundling” as some call, just means that both auto and home insurance policies will be procured from the same insurance company. Know the pros and cons of combining or “bundling” your insurance coverage. PROS Save money, of course Insurance companies offer discounts which are 5%-20% off the insurance policy if you get both the homeowners and auto insurance from them. While others may not give out discounts, they compensate … Read more

How To Effectively Compare Car Insurance Rates

Car insurance is a must if you are legally driving and these days, it can be quite a challenge to pick the best car insurance for you. And though it is a common strategy to compare the rates of different insurance companies, not everyone knows how to effectively do this. For you to be able to effectively compare car insurance rates, you should employ the following strategies: Get Three Quotes Insurance rates these days are very competitive and it is not surprising to see insurance … Read more

Reasons to Change Auto Insurance Companies

It can be possible that you have been with a insurance company for more than five years and don’t really change insurance companies for whatever reason. However, there are actually a lot of reasons why you should change them, but these reasons can sometimes be unnoticeable because of the convenience of having the same agent or because you have availed of automatic payment setups. You might be paying more for something you do not actually need. Change of address Unless your insurance company can provide insurance … Read more

Auto Insurance Lapsed? Here’s What You Should Do

The importance of getting an insurance policy cannot be overemphasized. It is mandatory, required by law, with consequences and penalties, depending on the circumstances. It is required for anticipatory reasons: when you incur damage in an event of a mishap or accident, the insurance coverage can answer for your liabilities. It also manages to keep your savings intact. If you get involved in an accident without insurance, it can wipe out your bank account and attach your properties if you do not have enough money … Read more

Auto Insurance Limit: What You Need to Know

All states require car owners to show a form of financial responsibility and one way of being able to meet this requirement is through auto insurance. When it comes to auto insurance, there is this thing called auto insurance limit. So what is an auto insurance limit? Basically, auto insurance limit refers to the maximum amount of money that auto insurance will pay out if you make a claim. And there are a number of things that you should take into account that affect auto … Read more

How to Review Your Current Auto Insurance Policy

Just because you have procured an insurance policy over your car does not mean your responsibility stops there. You have to read the policy to know the processes of claiming, the important dates and periods of time, the terms, conditions and the clauses inserted. Drivers There may have been some addition or reduction of the number of people in the household or your civil status might have changed. The drivers covered by the insurance policy should be changed accordingly. In this way, you may have … Read more

Benefits of Increasing Car Insurance Deductibles

Why would increasing your car insurance deductible be beneficial? Isn’t it going to cost you more when you become liable for damages? As surprising as it may sound, there really are benefits—for economical and practical reasons. Lowers the premium Increasing your car insurance deductible will lower your premium rates. Why would the insurance company do that? They are more than willing to do this because in the event of an accident or damage that you may incur, they will have less amount to be liable … Read more

Factors That Determine Auto Insurance Premium

Auto insurance premium refers to the amount of money that you need to pay an insurance company, in order to be able to take advantage of your auto insurance policy. The amount that you need to pay for your policy depends on a multitude of factors. Coverage The value of your premium is partially influenced by the kind of coverage that you and the auto insurance company agreed upon. There is the option for drivers to go for basic liability and there is also the … Read more

How Do Auto Insurance Deductibles Work?

For those who are not familiar with the term auto insurance deductibles; deductibles refer to the amount of money you pay out of your wallet before your auto insurance coverage take into effect. Insurance companies require policy holders to pay a certain amount depending on their contract before the policy holder can take advantage of their insurance. By knowing the amount that you can comfortably pay when accidents happen, you will be able to determine the right car insurance for you. Defining a Deductible Payment … Read more

Auto Insurance Endorsement

There will come a point that your auto insurance needs or your financial situation may change which will force or require you to make changes on your existing auto insurance policy. And this is where auto insurance endorsement comes in. Basically, an auto insurance endorsement refers to the changes that you may want to do on your existing auto insurance coverage policy. These changes can be to expand it or to restrict coverage with the former giving you more benefits but getting you higher premium … Read more