Smart Auto Insurance Blog

There are many reasons why your needs change during the retirement phase of your life.  Which vehicle you choose to drive is one of the facets of life that may change once you reach your retirement.  This could be for financial reasons, space or comfort.  Fox Business published a Bankrate article by Donna Fuscaldo with some great cars for retirees entitled “Seven Safe and Smooth Cars for Seniors on a Budget.”  You have to put a little more time and energy into your car search, but you can still find a car that is safe, affordable, stylish, and comfortable.

Take any potential health concerns into account when looking for a car in retirement.  If your vision is beginning to show problems, look for large controls, sun visors that extend, and larger side mirrors.  For those with arthritis, four door cars work best as well as those with keyless entry, power seats, and thick steering wheels.  All seven of the cars listed in this article are less than $20,000 to purchase.  You can also get a reasonable auto insurance quote, another way to help retirees with an often limited monthly budget when they stop working full time.

The Jeep Patriot 4 x 4 has top safety features and an electronic information center that makes it easy to monitor gas levels and other statistics.  Subaru’s Impreza 2.0i Premium has been voted the best compact car as well as the all-wheel-drive car with the best fuel economy in the United States.  The Ford Focus S has top safety features and an optional parking assist system that parks the car for you with the press of a button.  Chrysler’s 200LX is larger than the compact cars and offers comfort and a quiet ride.  Another Ford, the Fusion, is the most expensive on the list, but offers the title of the most dependable midsize car.  High safety and high technology abound with the Kia Sportage, which also offers a ton of optional additions.  Finally, the Hyundai Elantra GT has a lot of cargo space for retirement hobbies, as well as standard satellite radio.  As auto and insurance needs change in retirement, shopping around is the best way to make sure you find the right products for your needs and price.

Even though auto insurance quotes are quick and easy to obtain, and almost every state requires coverage, 1 in 7 people still choose to go without auto insurance.  This surprising number has increased slowly over the years, probably due to the economic downtown that is affecting so many Americans.  According to industry experts, 13.8% of motorists are uninsured and these causes higher rates for everyone who follows the rules and remains insured.

The article “One In Seven Drivers Have No Insurance” by Larry Copeland on USA Today, points out that insured drivers end up paying more because of uninsured drivers.  This came out to around $10.8 billion in 2007 based on recent data from the National Association of Insurance Commissioners.  David Corum, vice president of the Insurance Research Council, a non-profit group, says the number of uninsured drivers has been studied closely.  The consequences for not carrying coverage do not appear effective even though most states do require insurance coverage.

Loretta Worters, vice president of the Insurance Information Institute says auto insurance is compulsory in every state but New Hampshire but laws have proven ineffective in reducing the number of uninsured drivers on the road.  The state with the lowest uninsured rate is Massachusetts at 4% and the highest is Mississippi at 28%.  This huge difference is also surprising.  Obtaining auto insurance quotes has never been easier with the Internet instantly comparing multiple quotes, but this isn’t powerful enough to combat the fact that many Americans simply cannot afford the rising costs of auto insurance.  It will be interesting to see if these statistics change as the economy repairs itself.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

Auto insurance quotes in Florida continue to rise and this is causing some serious concern for consumer advocate groups in the state.  According to the article “Fla. Consumer Advocate Focusing on Auto Insurance” by The Associated Press on MiamiHerald.com, Florida’s insurance consumer advocate is forming a solid group to address the issue of increasing auto insurance rates.

Robin Westcott, appointed by Chief Financial Officer Jeff Atwater, points out that one of the main reasons rates continue to soar is because of the no-fault coverage for personal injuries layout of Florida auto insurance law.  Westcott is encouraging those who have stake in the personal injury protection system including lawmakers to considering these groups and join to show support.  This would be a huge move in the industry to work towards bringing rates down for the residents of Florida.

Westcott says she hopes to submit the group’s research to Atwater and the Florida Legislature by November of 2011 and make serious strides towards a solution.  Florida’s rising rates have been an issue for many years now and the way the law is set up is encouraging rates to keep rising.  Something needs to change to protect Florida drivers from experiencing some of the highest auto insurance quotes in history.  The time and effort it will take to implement changes is huge, so the more support they can rally the better.  Florida residents need a voice to ensure rates are kept affordable.  Times are tough enough without the rising costs of auto insurance.  Since auto insurance costs are necessary for most Florida residents, it should be a top priority for lawmakers.  Time will tell if their efforts will pay off in the end.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

New Jersey auto insurance consistently ranks as one of the highest states for auto insurance rates and regulators are looking to curb some of the rising costs through new regulations.  The article “What the New Car Insurance Rules Mean for NJ” found on NECN.com answers some of the top questions New Jersey residents have about how the new regulations will affect them.

New Jersey auto insurance is looking at a big overhaul from the proposed regulation changes for the personal injury protection component of auto insurance policies.  The changes will essentially change how and what physicians can charge for treatments and there will be a restructuring of the process for appealing a denied claim.  This is all in hopes that rising premiums will be slowed down and New Jersey auto insurance will become more affordable.

The article is very useful in answering questions many residents have.  It answers some details about personal injury protection and outlines why the system needs a makeover at this time.  The changes to medical services are discussed and gives an understanding of the changes being made to the approval and dispute process that New Jersey has long known.  Insurers will be benefiting from these changes in addition to the consumer so hopefully this encourages auto insurance companies to support the proposed changes and regulations are put into place quickly.  The regulations are not quite a done deal since the public has until the end of September to comment and a decision will be made at that time.

Auto insurance quotes can be higher on cars that are the most commonly stolen.  Knowing this can help you make a decision on what type of car you want to purchase when you start to compare auto insurance policies.  The National Insurance Crime Bureau (NICB) recently announced their findings for 2010 in the most commonly stolen vehicle types and consumers are anxious to know.

It’s no surprise that for the third straight year in a row the 1994 Honda Accord is the most stolen car for 2010.  Over 50,000 Accords were stolen in 2010 according to the article “The Most Commonly Stolen Vehicles In The United States” on US Insurance Online.  It’s suggested that weak security systems and a continuously high demand for parts are the two main reasons that the ‘94 Accord continues to be stolen the most.

The spokesperson for NICB, Frank Scafidi, says there is a black market for important parts and sometimes cars are worth more for their parts than they are when they are still in tact.  Between 2002 and 2009 there were many more foreign cars on the top 10 list when compared with domestic models.  In 2010, there were actually six American models on the list which is a turn in the trend.  The Honda Accord, Honda Civic and Toyota Camry were the three top most stolen cars in 2010, so consider this when purchasing your car considering your auto insurance rates many be higher due to the high theft.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

Many auto insurance companies have comprehensive coverage packages with great deals, but you have to do your homework to ensure you are getting want you really want.  One overlooked benefit that doesn’t come with all auto insurance policies is towing coverage.  Whether your car gets stuck in the snow, has a flat tire, the battery dies or it randomly will not start, towing coverage is invaluable and many policies offer it at no extra charge.  Unfortunately, many consumers do not realize this.

Specifically speaking, what you should look for when comparing auto insurance quotes is Towing and Labor Coverage according to the article “Does Your Auto Insurance Cover Towing” by Marcia Passos Duffy on FoxBusiness.com.  This type of coverage will often take care of the towing as well as labor to help get the car started again.  Labor generally covers small fixes and not parts so be careful when a mechanic offers to fix everything.  This coverage can also be called roadside assistance and some companies extend other benefits that mimic an auto club membership.

If you are a member of an auto club and paying an annual fee, double check with your auto insurance company to make sure you don’t already have the coverage you’re looking for.  If you have quality roadside assistance through your insurer, you may be able to cancel your auto club membership and save some money.  With this said, auto clubs such as AAA offer unique benefits that can be hard to find with insurers so you will want to be sure and compare the perks side by side and see what is the best fit for your budget and your personal needs.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

Florida has not had a hurricane for years, yet Florida auto insurance quotes continue to rise.  It’s been six years since the devastating Hurricane Wilma took it’s toll and since then every day claims for homeowners and auto insurance, including reopened claims, have risen 80%.  At this point insurers feel like there is not choice but to ask for higher homeowners and auto insurance rates according to the article “Soaring Claims Drive Florida Insurance Rates Higher” by Kenric Ward on SunshineStateNews.com.

Insurance companies are asking for rate increased for a couple of reasons.  First, there is a certain projection of future claims due to natural disasters and most states witness this type of increase.  Secondly, they are raising rates due to claims that have already been paid out that went above and beyond previous predictions.  Lynne McChristian, a Florida representative for the Insurance Information Institute confirms that these rate increases are due to future and past claims.

Just recently, Allstate Insurance Co and two of their affiliates asked for rate increases averaging 30%.  Castle Key Insurance Co. and Castle Key Indemnity Co. reported that there could be rates increases as high as 68% for individual customers.  These astronomical rate increases can devastate families financially, but it seems to be a no-win situation for everyone involved.  Some industry officials are blaming such increases on a new law, only affecting the state of Florida, which says insurers must pay full replacement costs for home repair upfront.  In addition to this, policyholders have up to five years to file a claim due to a particular hurricane which is throwing projections off.  The Insurance Information Institute reports that claims costs are increasing on average around 17% per year, and if this continues, no one will be able to afford a quality home or auto insurance policy.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

Industry studies continuously show Louisiana auto insurance rates to be sky high and this is frustrating residents more and more.  They want to know why this is happening and why they are subject to some of the highest auto insurance rates in the nation.  The article “Car Insurance Costs” by John DeSantis on HoumaToday.com, offers some insight as to why this is consistently the case.

If you talk to local auto insurance agents, many believe the higher number of lawsuits involving auto insurance claims is to blame.  This is just one of many factors, but this is a very direct reason why rates have been increasing.  Auto insurance fraud, auto theft, traffic congestion, and overall claims filed all play into auto insurance rates being generally higher in Louisiana.

Some Louisiana officials are working hard towards reform to keep costs down.  Specifically, there is one law being worked on to make it more likely for insurers to settle rather than to fight cases they may win.  The director of Louisiana Lawsuit Abuse Watch, a non-profit organization out of Baton Rouge, says a particular law requires that a claim of at least $50,000 or more be made before a jury trial is assigned to a case and she feels this is unfair.  She says this isn’t fair to auto insurance companies defending lawsuits because many cases end up in front of judges and wastes a lot of time and money.  She feels there are cases where the judge is more likely to find for the plaintiff, although this is not always the case.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/SaraSmart55

Car sales continue to be less than desirable for many car makers across the nation in 2011, but GM is looking to change that.  To stay competitive and offer something different, GM is looking to offer free auto insurance coverage to new car buyers according to the article on USA Today by Chris Woodyard.

Uninsured drivers is a problem across the nation, including states like California and Oregon.  These two states are the location of this free auto insurance test where people who buy a new GM car will receive a year long policy from MetLife Auto Insurance completely free of charge.  This will not only save a customer money, but will save them time searching for auto insurance quotes.  It’s a quality policy, including both liability and physical damage coverage and exceeds the auto insurance requirements for both states.  The offer is only good until September 6th and applies to 2010, 2011, and 2012 Chevrolet, Buick, GMC and Cadillac cars, crossovers and trucks.

GM hopes to bring in more buyers with this unique offer.  The policy will cover the car and anyone who drives it with the owner’s permission for the entire year from the date of purchase.  GM is still in the testing phase of this offer to determine if it will appeal to a wide group of buyers.  The owner does not have to renew the policy at the end of the year, but this could be a great opportunity for MetLife Auto to reel in more customers as well.  Very interesting concept and curious to see how it all pans out.

Purchasing auto insurance coverage can be complicated and is not as straightforward and some might think.  There is a lot to consider when shopping around for a policy and knowing the facts upfront will help you make the best decision.  J. Edward Knight & Co helps to put some rumors to rest out there about auto insurance in the article “Fact vs Fiction: Uncovering Auto Insurance Myths” on Waldo.VillageSoup.com.

The first myth discussed is that full coverage will include everything if you happen to be in an accident.  In most states, only liability insurance is required so be sure to understand what is actually covered in your policy.  Next, many people think you are required to get three estimates when looking for someone to fix your wrecked car.  While some insurers require this, many don’t so it might be a perk to look out for when you compare auto insurance quotes.

The next myth is that your auto insurance rates will automatically increase if you are in an accident.  The truth is, more and more auto insurance companies are giving graces to good customers so their rates don’t automatically jump after just one accident.  Definitely worth looking into.  Also, do not assume your car is covered if you lend it to someone and they are involved in an accident.  Sometimes it involves having a specific addition to your policy.  And the last myth talked about in the article deals with purchasing a new car.  Most auto insurance companies require that you notify them with the purchase of a new vehicle and despite what many people think, the DMV does not automatically update vehicle information with insurance companies.

Written by Sara Smart

Follow me on Twitter: http://twitter.com/#!/JoannaCliff78