Smart Auto Insurance Blog

A recent press release from Business Wire announces that Progressive Auto Insurance has been recognized for excellence in online auto insurance assistance.  In today’s online environment, more and more consumers are turning to the Internet to compare auto insurance quotes and benefits.  ProgressiveAgent.com offers a wide variety of services making the user experience easier and more straight forward and this has been recognized through receipt of the Standard of Excellence award from the 2011 Web Marketing Association’s WebAwards competition.

Progressive’s Agency distribution business leader, Karen Barone, says this website was specifically designed to make it easier for consumers to use a local agent and also help agents grown their businesses.  They feel honored to receive this award and feel good that they are doing things right.  ProgressiveAgent.com helps consumers find quotes, find a local agent, and also research insurance options.  You can learn more about Progressive’s variety of insurance options including boat, commercial auto and motorcycle insurance.

The judges at the online awards competition say ProgressiveAgent.com is useful and easy to navigate.  Many websites are looked at and seven criteria are considered.  This includes design, copywriting, innovation, content, interactivity, technology, and ease of use.  Websites across the nation are considered and 96 industries were reviewed by judges.  This is a great opportunity for websites to compete and show off their best practices through the competition.  Overall, it should make user experience better for all consumers turning to the Internet for their shopping needs.

Written by Sara Smart

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

One Beacon Auto Insurance is one of 14 companies marked as high dividend growth stocks for earnings this month by Seeking Alpha.  On their website they included details with interactive charts and price indexes to help readers see the impact these companies are having overall.  The Kapitall interactive charts are truly fascinating as you press a “play” button to compare changes in analyst ratings over the past two years.

Specifically speaking One Beacon reported earnings for their surety and title insurance industry.  The market cap was $1.26B while official earnings are to be released at the end of July.  Dividend yield is at 6.27%, a payout ratio at 11.91%, and a current year dividend per share estimated at $1.53 vs TTM dividend per share at $.84.  This has been an impressive stock over the course of 2011, gaining 24.91% over the past year.

Another insurance group, Selective Insurance Group Inc for the Property and Casualty insurance industry also reported numbers to discuss.  They reported a dividend yield at 3.2%, payout ratio of 33.77% and a current year dividend per share estimate at $.62 vs TMM dividend per share at $.52.  The stock as overall gained 14.18% in 2011.  The article goes on to detail the other 12 companies with dividend and stock information in a very smooth, and easy to read format.

Written by Sara Smart

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

You may have seen some recent commercials on TV or ads in the paper from Nationwide Auto Insurance discussing their Vanishing Deductible program.  A vanishing deductible sounds appealing but how does it exactly work and is it a good deal?

Basically this benefit will apply to good drivers only.  If you’ve never filed a claim with your auto insurance company you may feel that it’s unfair to pay the same deductible as someone who has filed claims in the past.  Nationwide believes you shouldn’t pay the same deductible if you have a clean record.  That is what motivated them to create this unique plan for good drivers where the deductible “vanishes” with good behavior.

The Vanishing Deductible program drops your deductible by $100 for each year you are a safe driver.  They even offer a $100 discount for signing up.  This optional feature does seem appealing and doesn’t have much of a downside.  According to their website, annual credits are subject to eligibility requirements with a maximum credit of $500.  It’s important to understand that details and availability of the plan vary from state to state so check with a local agent to see if this is an option for you.  Having an insurance company that offers little perks like this can make all the difference since the market is so competitive.

On February 23rd, the OneBeacon Insurance Group Board of Directors announced their first quarter results.  Based on their website information, they declared a $0.21 per share quarterly dividend, paid in cash on March 31st to shareholders of record Common Shares for the close of the business day on March 17th.

OneBeacon Insurance Group is a holding company and they offer a wide range of specialty insurance products sold through independent agencies as well as regional & national brokers, wholesalers, and managing general agencies.  They deal with products such as One Beacon auto insurance, OneBeacon Specialty Property, and services to assigned risk markets.

OneBeacon’s insurance businesses are available throughout the United States and offer competitive prices and unique programs for a variety of customers.  They also offer producers, brokers, and insureds the useful ability to report claims online.  With online expansion and continued success, shareholders should hope to see continued growth and return.

In today’s economic environment people everywhere are trying to save money where they can.  Once it’s time for a new car, many consumer are turning towards used cars as their purchase of choice.  Not only is this because used cars are generally less expensive but auto insurance on used cars is often cheaper as well.  If you compare auto insurance on a used car verses a new car you will find the quotes to be cheaper on the used cars in most instances.  This is because the used cars are on average less expensive to repair and replace.

The government offers a convenient outlet for buyers to search for used cars through auto auctions.  The General Services Administration (GSA) is helping consumers better understand the benefits of using auctions and work hard to make the process smooth.  It can be easy to find a very good deal on a used car through an auction, but it’s important to go through a reputable service to ensure you are getting your money’s worth.

The GSA offers a comprehensive website to prospective buyers that is very user-friendly.  GSA holds public auctions throughout the US at registered auction sites.  By registering at their website you can receive more information on auctions in your area and be well on your way to a quality used car at a competitive price.

Finding an auto insurance policy that is perfect for you is possible, you just have to ensure you are getting the education you need.  Once you understand your state laws, and have determined your personal needs you can put together the different pieces of an individualized auto insurance policy.

The first part of the policy tends to be liability insurance since that is the most important part.  If you only have minimum liability you may be taking a risk in case you hurt someone so understand the financial implications of upgrading to better liability insurance.  Based on the type of car you drive you may want collision coverage and depending on how many drivers you have in your household you may want to combine policies.

Shopping around is definitely important not only for price but for various benefits such as paying online, accessing information through your phone, superior customer service or efficient claim processing.  Companies ranging from First Acceptance Insurance to big companies such as Progressive Auto Insurance offer a wide array of benefits to suit their customers’ needs.  You can find a helpful agent to walk you through the variety of benefits made available and the differences in cost.  With the right research you really can find the most perfect policy suited just for you.

There are a few coverages included in most auto insurance policies across the nation that would surprise the average person.  According to the article “4 Things You Didn’t Know Your General Auto Insurance Covers” on TheAutoInsurance.com, you should always check with your insurer to ensure you have basic coverages, but there’s a good chance they offer the following great benefits:

1. Legal expenses are offered covered including a lawyer
2. Your car is probably covered in the case of a terrorist attack
3. Damage caused when someone else drives your car
4. Roadside Assistance

Again, it is possible that your coverage does not offer these 4 benefits, but if they don’t it may be time to shop around for better auto insurance rates with more benefits.  Many discount auto insurance companies are known for having lack luster benefits, so it’s worth getting a run down of the benefits your policy offers.  Do a side by side comparison of various policies to get a good understanding of what you may be missing.  Most auto insurance agents will happily sit down with you to explain the difference in policies to ensure you find a policy that best suits your needs.  If they don’t, then they might not be the insurer for you.

The Ohio Department of Insurance (DOI) is looking out for its residents as they shop for Ohio auto insurance quotes.  They recently launched the Auto Insurance Sample Premium Calculator according to the article “Ohio Department of Insurance Launches New Online Premium Comparisons Tool” found on Insurance-Business-Review.com.

The calculator is designed to assist Ohio residents in finding affordable auto insurance that fits their personal needs.  The tool is available on the Ohio DOI weblink and can be used to compare sample premium quotes provided by various auto insurance companies throughout the state.  Residents can also receive contact information immediately if they wish to get more information or purchase a policy.

This tool will give the consumer the opportunity to see what rates they may be eligible for as they start looking for auto insurance.  The educated consumer saves more money and this tool will help them with that.  The Ohio Department of Insurance Director Mary Jo Hudson believes this interactive resource will help consumers quickly sort through their research.  This is a great tool that truly looks out for the consumer in a highly confusing industry and will prove invaluable since all drivers must carry auto insurance.

According to the press release “The Hartford Tops Ranking of Auto Insurance Web Sites” found on Business Wire, Hartford Auto Insurance has one of the most user-friendly websites.

The Hartford Financial Services Group, INC, announced recent research put forth by Change Sciences Group, which gives their website top marks for consumer use.  The study looked at ease-of-use, content quality, the use of social media, and persuasiveness compared with the top 17 auto insurance companies.  Based on this information, this would be an easy site to use to get quotes on auto insurance as well as purchase a policy. 

Pam Pavliscak, a partner at Change Sciences Group says The Hartford scored the best in the research because the site requires lower user effort and simultaneously providing valuable information.  They practice hyper usability, which is working to ease the burden of entering data and navigating the site.  They provide the appropriate information at the right time, making it easier for consumers to get through the site with ease.  Hartford Auto Insurance prioritizes the improvement of their online presence because they realize how important it is to an overall successful insurer.

According to the article “Saving Money On Auto Insurance as a Senior” found on favstocks.com, there are special steps senior citizens should be taking to ensure they are getting the best auto insurance rate.

First and foremost, seniors should be shopping around to see what type of rates are out there. It doesn’t have to be hard to compare auto insurance quotes. Getting numerous quotes from various companies can ensure they are getting the best deal.  Another key is to get educated on driver discounts for seniors.  There is a 10% discount for drivers over the age of 55 who have taken a safe driving course in 35 states, including some of the top retirement states.

Seniors will also want to consider what address they are using for the auto insurance quote.  Many seniors own two homes and spend somewhat equal time in each so it can be beneficial to get quotes at both addresses and see what state has the best deal.  You will have to consider where you are registered to drive though and you must be upfront about how much time you spend in each location to ensure the auto insurance company has the most accurate information.