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Compare auto insurance : Color does not affect auto ratings.

Nathan Anderson : Does the color of the car matter when you compare auto insurance quotes or review car insurance coverage? Do certain colors give you a low auto insurance rate?

Compare auto insurance quote, review auto insurance
Myth : Red color car have higher auto insurance rates

Response : Nathan, I understand where this question is comming form. there is a myth that red color cars have a higher auto insurance rate and are expensive to insure.

The basis of this idea could be related to the fact that all fast or “cool” cars as they are better known are red. When you think of a Ferrari immediately a nice red car as seen above is picturized.

But is it actually true? Should you consider the color of the car when you compare auto insurance quotes online or review car insurance?

Definetly not. The insurance companies do not base their auto insurance rates on the color of the car. Let me tell you how the rates vehicles are based so you can understand how to compare auto insurance quotes online and review car insurance much better.

The vehicle is the prime factor on which the base rate of auto insurance is decided but the aspects taken into consideration for the rate are the make of the vehicle, model and year of manufacturer. These three are the unique identiifers for a vehcile rating matrix.

Each insurer designates a different symbol to each vehicle in their rating structure. Let’s explore why these factors are considered.

Comprehensive coverage or colloison coveage of auto :

Make and model are considered to determine the cost to repair of the vehicle in the event of a physical damage claim, or worse, if the car is totaled.

For example, it is quite a bit more expensive to repair a Lexus than a Honda (parts, etc.). Therefore, you can expect to pay more to insure the Lexus. It’s simple math to the insurance company.

The year your vehicle was manufactured also comes into play when determining your rate. The older a vehicle is, the less it is worth and the less you can expect to pay to insure it for physical damage coverage.

In fact, there is a point where, if you can afford to purchase a new vehicle in the event yours is damaged in an accident, you may want to remove the physical damage coverage (which includes collision and comprehensive coverage) from your policy.

For example, if your car is only worth $1,500, you may not want to cover it for physical damage, as the cost to insure it may be more than the cost to replace it.

Does the color matter when you compare auto insurance liability coverage or review car insurance liability coverage?

Well, color still has nothing to do with your final insurance premium, but the symbol, or make, model and year, are a factor here as well.

Unlike the physical damage coverage, which is based mostly on the car itself, liability insurance rating focuses the safety of the vehicle and here the insurance companies consider the safety test conducted by the Insurance Information institute and the data collected by the NHSTA and also the safety test of cars.

Remember that this article is written purely on the basis of the vehicle and we will discuss some aspects of the drivers on which the insurance rates are based, which is interseting to note when you compare auto insurance quote or review car insurance to get low auto insurance rates. Check out the auto insurance quotes here … Suprised with the low auto insurance rate?

Thanks.
Kamlesh

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Jay Stylish : What do I review before I compare auto insurance quotes?

Review 7 things before you compare auto insurance quotes

What you should review when you compare auto insurance quotes?

Response : Jay, knowing something is imprtant and once you are prepared you would defintely get low auto insurance rates. Before you sit down to actually start to compare auto insurance quotes, you need to review the following seven factors which will be important to pre-determine your auto insurance rates.

These are important since they are directly related to the rating factors of the general auto insurance companies take into consideration:
Credit history: Most companies consider you credit history or the driver’s credit history as an important factor when rating. A bad credit score would attract higher insurance premium and hence you need to review your credit and find out what it is or make an attempt to repair it before going for an auto insurance quote comparison.
Driving record: If you have been involved in an accident and have been able to get some proof of your not being at fault, it would be important to review that you have all the necessary documents for this. The more accidents and serious traffic violations you have, the more you’ll pay.

Check the renewal dates when you compare auto insurance quotes

Policy renewal date: It is important to renew your policy in time before the expiry. You may also pay more if you haven’t been insured for a number of years.
Miles that you drive: It is necessary for you to make a note of your mileage and review the usage of your car during the next period since the usage would affect the rating. If you drive less than 1000 miles you can get a lower mileage discount.
Purpose of use : The purpose of use of your vehicle whether it is business or personal use would also decide your rating. Review the usage of your vehicle. Remember that if the vehicle is used even for pizza delivery it is considered a business purpose. Any change in usage either way must be noted.
Car model or safety features: Any additional safety features in the vehicle need to be reviewed. Incase you have got yourself a new alarm system or got new air brakes installed, than you need to note this. This would earn you a low auto insurance rate when you do online auto insurance comparison.

Amount of coverage : The amount of coverage is most important since it would directly affect your car insurance rates. Consider and review car insurance coverage carefully before deciding or keep different options in mind. This is the only factor now in your hands if you want low auto insurance rates.
Online auto insurance comparison is definitely a winner since you can do it at your time and within minutes you can get auto insurance comparison from 5-11 general auto insurance companies.

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Kim Jang : What should I not do when I indulge into auto insurance comparison to save my time and of course money?

Compare auto insurance not the general auto insurance companies.

Response : What not to do when you compare auto insurance quotes is important since no-one has all the time. We want to save time and money. Hence it is important not to waste your time. Get low auto insurance rates in seconds, once you know what not to do.

The myth for anyone when they start auto insurance comparison is that they first want to start with the comparison of the general auto insurance company. You are climbing the wrong tree and missing your objective. Your objective is to get low car insurance rates, compare auto insurance quotes or review car insurance coverage. Why start with the general auto insurance company first? Are you going to buy it? All you need from them is customer services, if or when you meet with an accident or their ability to pay for the claim. Let me assure you, that the Insurance Act which has been laid down by each of the state is good strong enough and also the auditing carried by them is strict so that they would not let anyone operate if they do not have the financial ability to do so.

In case you have already bought your insurance from an insurance company which is not stable, you need not worry since as per the prevailing regulations, any company that takes over would assume the assets and liability. You would be paid for your auto insurance claim, if you have one.

Yes, the general auto insurance company, matters to you when you compare auto insurance quotes or review car insurance coverage – but first you need to decide on the insurance company which is offering you the low auto insurance rate or the best car insurance coverage.

Once you are certain that this is the insurance company you want to go for -you need to ring up the insurance company so that you get an idea of their customer service. This is the most important part for you since you would be dealing with the staff directly incase of any accident. Of course, you can ask any of your friends for their experience on the customer services. Get your low auto insurance rate at compareautoinsurancequote411.com

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Andy Jenkins: My auto insurance policy is due for renewal in January 2010. Are there any changes and new tips to compare car insurance quotes online in the New Year? Will there be any changes in the auto insurance business?

Response : An excellent question. The good news is that the New Year is going to give you a gift in the form of auto insurance discounts and low auto insurance rates if you compare auto insurance quotes.

Yes, insurance field is very dynamic and any changes in the life-style, environment or technology would bring in changes in the insurance. Auto insurance is also dynamic and you need to be aware of the changes to compare auto insurance quotes. This is the main aim of the blog to bring news of the insurance market and explain the same in simple logical terms to insurers so that they would benefit from this.

Here is the latest news on the 14th December 2009 from the Insurance Information Institute by the Vice President Loretta Worters. As declared by them the insurance industry is encouraging the ” going green” better technology and changes for the environment. More than 600 innovative, eco-friendly products and services are now offered by 244 insurers, reinsurers, brokers and insurance organizations in 29 states; of which 37 percent of those activities come from U.S. companies.

These changes are also brought about in the car insurance ratings and auto insurance quotes. The next year when you sit to compare auto insurance quote or compare car insurance quotes keep in mind the two points:
1) Pay as You Drive (PAYD) insurance programs. More than 24 insurers now offer PAYD programs in which a device or sensor is attached to your car and it would keep track of the miles you drive, your speed and your driving. One of them very much advertised and implemented latest in Ohio is by the Progressive insurance company. There are many similar programs like this which use different devices like the GPS system, which are web-based or collect readings from the odometer or use different technologies. The information is then used to reward policyholders who drive fewer miles than the average driver by providing them with discounts. You will have to compare auto insurance quotes after agreeing to use any of the devices depending upon the usage of your car, the technology you are comfortable with and also your own driving habits.
2) Hybrid discounts. If you are thinking of changing your car than it would be best if you would go for a hybrid car since you will save on your auto insurance premium. Some auto insurance companies offer premium discounts up to 10 percent for those who drive hybrid vehicles. I will let you know which are the safe cars in my next blog post.
You will be able to compare auto insurance quotes and also obtain a low auto insurance rate online.

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Kim Roach :I am looking for low auto insurance rates online but I do not know how to compare my auto insurance policy, can you please help me?

Response : I agree with you Kim, you need to know what is it that you are going to compare when you compare auto insurance rates online. Please see my earlier post on review auto insurance coverage. In order to compare car insurance quotes or to review car insurance coverages. you first need to know what your own auto insurance policy is providing. For this it is necessary to read your own auto insurance policy.

Your car insurance policy is a legal contract, so at first glance it can seem confusing. But, if you know what to look for and where to find it, your policy becomes a lot easier to understand. Each auto and homeowners insurance policy has three standard parts:
Declarations Page. This is where you’ll find your name, a statement of the policy period during which you are covered and the amount of premium you pay. The “dec” page also includes a description of the insurance coverage provided and gives the maximum dollar limit the insurer will pay for a claim under each coverage.
You need to see the coverages mentioned here and the lmits of each of them . For eg Liability coverage will be mentioned showing you a bifurcation for Bodily injury and Property damage coverage.
Insuring Agreement. This is the main part of the policy. It describes what the insurance company will do in exchange for the premium you’re paying. The insuring agreement will also say who is covered: The persons named as insureds on the declarations page, residents of the same household and persons using the car with the permission of the insured. Everything is spelled out specifically in an attempt to avoid misunderstanding. Read the definitions section and the list of exclusions that apply to each coverage. Its vital that you know what you are covered for and what you are not covered for when you need to use your coverage!

Conditions of the policy. This last section describes your responsibilities when you have a claim, for example how much time you have to report it and what documentation you must give to the insurance company. It also explains the terms for canceling your policy—both for you and the insurer. You can cancel your policy at any time, however your insurance provider may only cancel under certain conditions and with advance notice to you.
Exclusions of the auto insurance policy : Some auto insurance policy will have specific exclusions that will tell you what is excluded from scope of the policy. If the exclusions are not mentioned than the scope of the coverage needs to be re-read again so that you understand what is excatly covered. Once you know and have reviewed what you have you will find it easy to understand how to compare auto insurance quotes online.
Thanks.
Have a great day.
Kamlesh

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