Can I borrow your car�insurance?

Can I borrow your car�insurance? by Lee Romanov

Which celebrity would you least trust to drive your car, for fear they'd crash it?

Selection - Based on 11,419 Responses:
Paris Hilton 45%
Tommy Lee 13%
Courtney Love 28%
Nick Nolte 14%

This survey result raises a vital question. No, not: �What were the 55 per cent that didn�t choose Paris Hilton thinking?!� but�

Did you know that when you lend your car, you also lend your insurance?

When a friend wants the keys to your car, how often do you hear the question, �Can I borrow your car insurance?� Not often. But that�s exactly the question that should be asked! Did you know that if your friend is involved in an at-fault accident , it�s your insurance rate that goes up? And that�s not the worst news. It takes nearly six years for your insurance rate to shake off the effects of an accident!

Accidents happen: So what should you do if one happens to you?

It is critical to periodically check your rate. As the accident fades from memory, your rate should also decrease. When it�s time to renew, you need to shop around. I compared the rates of 30 insurance companies on InsuranceHotline.com using a driver with one accident on their driving record. Take a look:

Driving Record Low High Difference
1 Accident $2,793 $6,903 $4,110

As you can see, the quotes vary significantly � with a price difference of more than $4,100.

No matter who was behind the wheel � you deserve to be on the insurance A-List! Don�t have a head on collision with your pocket book when it comes to your insurance rate.

No matter what your driving record, to check out rates go to a site such as InsuranceHotline, enter your driving information, and receive a free, instant quote with the lowest rates from the top 30 Canadian insurance companies.



Lee Romanov is the founder and president of The InsuranceHotline.com, since 1994. InsuranceHotline.com provides a rate comparison service for auto, home, life and commercial insurance via the internet, now processing over 3,000 quotes a day, internationally.
Get Instant Auto & Car Insurance Quotes here

Article Source: http://www.articlerich.com

Claims & Your Insurance Rate by

Claims & Your Insurance Rate by Lee Romanov

Whether you have a $1,500 fender bender or you write off a Bentley, it doesn't matter. Either way, if you're considered to be at-fault, or partially at-fault, your rate increase will be based on the fact that you caused an accident, not on the amount of the claim. Many drivers make small claims of under $1,500 and end up paying thousands of dollars for it in insurance premiums. Any reported accident, even if there was no damage at all, stays on your insurance record for six long years, seriously impacting your insurance rates.

Do lower insurance rates mean poor service, disappointment and dissatisfaction? NO. Auto insurance policies are identical, word for word. Drivers with high insurance rates DO NOT receive extra coverage or more value. All standard insurance companies report that their claims satisfaction levels are between 75% to 85%. You'll never know if you're going to have a claims problem, until you have it, regardless which insurance company you're with or how much you paid for your insurance.

Claims History Report: When you receive an online quote from a site such as InsuranceHotline.com, you are given access to your Claims History Report. This report shows all your claims since you were first licensed. Like your credit history report, it is good for you to periodically check this report to be sure that it is completely accurate. Your insurance rate depends on it!

Accident Forgiveness
Many insurance companies throughout Canada and the US use the term �Accident Forgiveness� to attract new business. Be careful, as it does not necessarily mean your insurance company will forgive you for having an accident.

In Canada, if your insurance company offers �Accident Forgiveness� it means that if you have an at-fault accident your �star rating� drops. When your rating drops, your rates increase.

The accident also appears on your insurance claims record and will count against you for six years. The term �Accident Forgiveness� would more accurately be called �Falling Star�.

To determine the true definition of �Accident Forgiveness�, ask your insurance representative the following questions:

1. Will the accident go on my claims record?
2. Will my rate increase on renewal?
3. Will my preferred �Star Rating� drop?

If �yes� is the answer to all these questions, ask your rep to point out where, exactly, the forgiveness is.

Claims Protection
Claims protection keeps your insurance rate from increasing upon renewal, after an at-fault accident. The accident will, however, be recorded on your driver�s history.

The claims protection is removed after a claim. A second accident would not have this protection.

Further accidents or a combination of claims and tickets for driving infractions could result in the non-renewal of your policy. In some cases, claims protection will entitle the policyholder to an extra at-fault claim before the insurer will refuse to renew the policy.

Most insurers will sell drivers who have been driving for 5 years or more accident free claims protection. If you qualify, buy it. It is like buying insurance to keep your insurance premiums low. The cost is usually around $35 to $50 dollars a year. But before you do that, make sure you�re with the insurance company that has the best rate. Otherwise, all you�ll be doing is paying more money to protect a lousy rate.

Repair Shops
After your accident, your insurance company may suggest where to take your car to get repaired. The advantage of using one of your insurance companies preferred repair shops is that they guarantee the repairs.

Your rights: In spite of which shop your insurance company suggests, you ultimately have the right to choose the place you wish to get your vehicle repaired. This is the law. The advantage of using a repair shop of your choice is that they can act as a mediator if you're unhappy with the adjuster's assessment of what needs to be repaired.

Repair job: Before you authorize any repairs, make sure you show your insurance company the estimate. Insurance companies will restore your vehicle to the same condition that it was in prior to the accident. Previous damage is not covered. A fraudulent attempt to get the insurance company to pay for damage unrelated to the accident could cause them to deny payment of the true cost of your claim. Adjusters have high tech ways of determining previous damage not caused by the accident, and you could be charged with fraud.

Original equipment: As a rule, if the vehicle is less than two years old, you should get the Original Equipment Manufacturer (OEM) part. Older vehicles will be repaired using after-market parts or used parts. The OEM part comes from the original manufacturer; the after-market part is produced by a separate company. It's like getting a brand name versus a no name product. Once the vehicle is fixed, by law you will get a minimum warranty of three months, or 5,000 km, whichever comes first.

Generally, you should receive a 2-year warranty. You should investigate this when you are calling around for estimates.

Before driving away, check the appearance of the repaired area close up and at a distance, examine the paint for color match, texture and over-spray, take a test drive to check mechanical repairs, and check that the vehicle is clean. If you are not satisfied, mention your concerns immediately.

In most vehicles, the paint will not be an issue unless it is an older vehicle, as the original color may have faded over time.

Value of your car after an accident: Many people feel that the vehicle will never drive the same if it sustains heavy damage. This is now a myth. Ten years ago, this may have been true, but with the technology today, frames and other parts can be repaired to their original condition.

However, insurance companies in Canada do not reimburse you for the "loss of the value" to your vehicle because of an accident. Insurance companies pay for the repairs only. If you decide to sell or trade in your car, there may be a depreciated value because it had been in an accident. Some dealerships minus $1,500 to $2,000 from the value because of a collision.

In the US however, some insurance companies do take the new value of the vehicle into account when settling a claim. The best solution is to have the garage where you are most likely to purchase a new vehicle do the repair work. Let them negotiate with the insurance adjuster to make the point that the car they repaired is not worth as much as the car before the repairs.

Insurance adjuster: Not all claims adjusters are created equal. If you�re unhappy with your adjuster, there are options available to you. You can speak with different levels in the insurance company's claims department. You may also speak with the company's Ombudsman. If you still are unhappy with the way your claim is being dealt with, you can contact your province or state�s regulatory body on insurance and speak with their Ombudsman.

Rental vehicle: While your car is in the shop, you'll probably need a rental vehicle. This is covered under an insurance endorsement called "Loss Of Use". The price of the endorsement is around $20 and if you do not already have it, get it! If you're at-fault for the accident, your rental vehicle costs will be covered. If you are 100% not at-fault and do not have this endorsement, you may still receive it under the "Direct Compensation" part of the insurance policy, subject to the policy restrictions and limits.

Insurance rates: The fear of skyrocketing insurance has many people paying for the damages out of their own pocket. Many body shops now ask whether the repairs are going to be covered through insurance or out of your own pocket, as some repair shops now offer payment plans.

The purpose of insurance is to put you back in the place you were in before the loss. Unfortunately, that doesn�t include your insurance rate.

Rate comparison: Paying insurance rates for one accident for two years can cost more than your car is worth. So be careful and do the math. Maybe you don�t need collision coverage, saving you insurance dollars.

Here�s an example of a 1997 Chrysler Intrepid, driven in a metropolitan area, showing a spread of 30 insurance company rates, lowest to highest. To purchase this car would cost around $3,000. The amount for insurance after one accident, which affects your rate for 6 years, more than doubles the cost to purchase the car.

Profile Lowest Highest
Clean $1,463 $2,629
1 accident $2,634 $8,212
2 accidents $5,627 $8,427



Lee Romanov is the founder and president of The InsuranceHotline.com, since 1994.
InsuranceHotline.com provides a rate comparison service for auto, home, life and commercial insurance via the internet, now processing over 3,000 quotes a day, internationally. Get Instant Auto & Car Insurance Quotes here.

Article Source: http://www.articlerich.com

Don�t Let the Fear of Higher Insurance Rates Put the Brakes on Your Dreams!

Don�t Let the Fear of Higher Insurance Rates Put the Brakes on Your Dreams! by Lee Romanov

Picture yourself in a new car. Wind whipping through your hair as you race down the winding, curvy road. Bruce Springsteen�s �Pink Cadillac� is pumping in the background and you feel like you�re in a commercial.. You are so cool. And then you come to a screeching halt. It�s going to cost too much. The payments! The gas bills! The insurance!

In your wildest, most fantastic dreams, could you ever have imagined that what you�re currently paying for car insurance could land you a new car? Read on.

At some online insurance sites you can compare your current car insurance rates with competing companies, and there�s a good chance you�ll find a much lower rate. The difference could be enough that the next time you leave your house you�ll be on your way to lease a new car!.

We surveyed more than 5,000 people and asked: Is fear of higher insurance rates influencing your decision to buy a new car?

Selection - Based on 5,096 replies:
Yes 3,838 (75%)
No 1,258 (25%)

A staggering 75% of respondents said "yes"!

Is this concern justified? Or is there something much more sinister at work in your subconscious? Could it be an irrational fear of high insurance rates?

Brand new car or mom�s hand-me down: Checking out rates for a new car isn�t something to fear. In fact, it could save you money! The lowest rate possible on a brand new car could be cheaper than what you are currently paying for your older car. If you don�t shop around�you�ll never know! The key is to get the best rate possible, and you can do that online.

Getting quotes from the top 30 insurance companies in Canada, we compared the insurance rates between a new car and an older model of that same car.

Newer Vehicle Insurance Rates VS Older Vehicle Insurance Rates

Year Vehicle Low High
2008 Pontiac Grand Prix 4DR $1,395 $4,924
2001 Pontiac Grand Prix 4DR $1,609 $4,698

In this case the older vehicle is more expensive to insure by $214.

Still not sure? Repeat this insurance affirmation: �I am working towards change. I am open to new possibilities. I deserve the lowest car insurance rate possible.�

Remove the roadblocks to happiness! Simply go to a site such as www.InsuranceHotline.com and enter in your driving information, and receive an instant quote with the lowest rates from 30 top Canadian insurance companies.



Lee Romanov is the founder and president of The InsuranceHotline.com, since 1994.
InsuranceHotline.com provides a rate comparison service for auto, home, life and commercial insurance via the internet, now processing over 3,000 quotes a day, internationally. Get Instant Auto & Car Insurance Quotes here.

Article Source: http://www.articlerich.com