Insurance Whiz

Average Car Insurance Rates On the Rise

Insurance Whiz — Wed, 06 Jan 2010 12:59:15 +0000

When shopping for car insurance it is a good idea to check out the average car insurance rates for your area and time of year. Much like the stock market and price of oil car insurance rates fluctuate all over the country depending on the time of the year. If you are in the market for a new insurance policy this information could be useful in getting the lowest premiums possible.

The average car insurance rate for the nation for this year is currently $1,780. When you’re looking for a policy keep this information in mind as it is a good indicator of what you are saving in terms of money. However you have to take into account where you live in the country. Typically states on the north eastern United States and the west coast have the highest insurance premiums. Much of this has to do with the amount of traffic in the area along with state regulations for car insurance companies. Incidentally enough the rates of car theft and aggressive driving are higher in these areas of the country helping to contribute to the higher insurance premiums. Anyone who lives in the north east can attest to the amount of traffic on the major highways in New York, New Jersey, and the New England states.

To find out the current pricing trends the Car Insurance Premium Index keeps a monthly chart for the last year showing the pricing trends. If you look at the current chart for the last year you see that the cost of insurance starts to drop once school starts in the fall usually hitting its low during the months of September and October. This is a good indicator that if you do want to buy a new policy that doing so in the months of September and October. When you go to compare car insurance rates at this time for your new policy they will be at their lowest prices throughout the year. Once November hits and the holidays roll around prices start to slowly rise through the holidays and hit their peak at the end of spring and beginning of summer. This seems to be about the time kids get out of school and the amount of drivers on the roads increase due to the peak vacation time across the country.

One important piece of information to keep in the back of your mind is the age and sex of the driver. Teen drivers have some of the highest insurance premiums due to their high risk of accidents due to inexperience. Male teens have a slightly higher premium than female drivers and continue to do so until after the age of 25. However if you’re a married male driver under the age of 25 your rates will be lower than the equivalent single male driver. Female drivers no matter what age will always enjoy having lower insurance premiums than male drivers with the same driving record because they are considered to be less aggressive drivers.

Remember when shopping for car insurance that average car insurance rates fluctuate throughout the year. If you can try and do you’re shopping during the fall months of September through November for the lowest premiums throughout the year. While the overall trend suggests that the national average rate does rise from year to year this does not mean that rates rise straight through the year. Taking advantage of these monthly fluctuations throughout the year can save you money on your next insurance policy.

Do You Need Business Interruption Insurance?

Insurance Whiz — Mon, 04 Jan 2010 12:57:48 +0000

Business owners are diligent about purchasing insurance to cover fire, theft, or injury to an employee but many never think of business interruption insurance. While not a part of traditional business insurance policies protecting your company from lost profits is an important consideration. Lost profits due to an accident or temporary closure of a business are often overlooked until something happens.

In the event of a problem business interruption coverage takes two to four days before it starts to kick into gear. While this may seem like allot of time if you have had a fire, flood, or other damaging industrial accident losing a few days profit is much better than loosing several weeks or months while the business is put back together. Most policies will also cover the costs of the operating expenses of the business. Electricity, water, and gas are all continuing expenses that build up even if your business is not running at all never mind the cost of your lease from month to month.

There are several things to keep in mind about a business interruption insurance policy before you do your shopping. An important thing to be sure of is make sure your policy allows for ample time for the worst disaster that may happen. One of the last things you want to happen in the wake of a stoppage of business is to have your interruption insurance coverage to run out because repairs or relocation is taking too long.

When it comes to obtaining quotes for your policy premiums they are affected in a few ways. First is the type of business you own. A small retail or office type business that does little in the way of physical work will have relatively small premiums. If your business is a bit more dangerous such as an auto repair shop or a machine shop where there is allot of machinery and flammable materials your premiums will be higher. This is not the only thing that will drive up premiums. If you have a niche business like automotive transmission repair it will be much harder to open a temporary place to continue business than if you ran a small accounting and bookkeeping business.

It needs to be said that the only drawback is that interruption insurance only covers net income losses. This is to be expected though and gross income in the case of a retail or manufacturing business includes the cost of goods and materials covered by other insurance policies. For service related businesses the coverage for things like rent and power are covered anyway so the loss is minimal.

While business interruption insurance many not initially be on an old or new business owner’s radar it is something to think about now. Like any other insurance policy there are some hoops to jump through to get what you need. Quotes need to be found and coverage’s need to be determined. But in the end no matter the amount of papers work and red tape to go through recovering any lost income and expenses while rebuilding a business after a disaster is worth the little time it takes to get the policy and get it to kick in.

Protecting Your Business: Commercial General Liability Insurance and Why You Need it.

Finding Cheap Liability Insurance Coverage to Fit Your Needs

Insurance Whiz — Thu, 31 Dec 2009 12:56:13 +0000

If you own a business, home, or drive a car you may be in the market for cheap liability insurance. By law most drivers are required to have a minimum amount of liability insurance in case of an accident. This is for your protection so your insurance company will cover the costs of any damages you did to property or life. For home and business owners it is just as important to protect yourself and your investment in case someone gets inured on your property.

For business owners finding cheap commercial liability insurance is not as hard as people may believe. With the internet at your disposal finding the right policy and price for your business couldn’t be easier. Just like car insurance many insurance companies offer quotes online instantly. It is just a matter of making sure you know the type of coverage you need and how much of it to get a quote. If you’re really in a time crunch there are websites out there that will allow you to obtain quotes from several insurance companies at once. Be warned that some may not be instant quotes and you will have to wait for an insurance agent to call you or email you your information. If you prefer to do business face to face you can call some independent insurance agents to get some quotes and see how they stack up against an online quote. Often you may find a price from a local independent insurance agent will be better than any you got online. If you work as a contractor you may need to look into purchasing public liability insurance. Most liability insurance policies don’t cover accidents to construction contractors working on a home or business. So to protect yourself and your business when it comes to personal on the job injuries a good insurance policy will help ensure you are able to pay your medical bills and keep your business intact while you are out of work due to an on the job accident.

Homeowners who want to protect their investment will want to look into liability insurance. If you throw allot of dinner parties or have frequent visitors you will want to protect yourself in case there is an accident. If a visitor to your home get injured in any way on your property you are liable for the injury. It is possible that you could be sued in the event of such an accident and without liability insurance you will have no choice but to pay out of pocket in any lawsuit. With liability insurance your personal finances are better protected if an injury happens on your property.

If you drive a car most states require you to have a minimum amount of liability insurance coverage. Luckily finding cheap auto liability insurance is easy as it is part of any quote you get for auto insurance. The amount of coverage varies from state to state and the amount of that coverage does have an effect on the price for the insurance policy.

It has to be noted that finding cheap liability insurance is important to people and businesses. Just be careful and make sure to look over your policy completely to be sure you have all the coverage you need. Cheap can sometimes mean you have left yourself underinsured and it could cost you much more down the road that spending an extra few bucks a month on your insurance. Make sure you have all the information at hand about the amount and type of coverage you need and shopping for a liability insurance policy will be a painless endeavor.

Tips for Finding the Right Kind of Commercial Trucking Insurance for You

Insurance Whiz — Mon, 28 Dec 2009 12:55:03 +0000

Commercial trucking insurance is a must have for anyone who drives a truck and delivers goods for a living. It doesn’t matter if you own your truck, lease it, rent it, or borrow it commercial insurance is a necessity. Insurance providers consider commercial trucks to be any vehicle that is not listed as a car and is used for a business as a commercial truck. It could be a van, box truck, pickup, suv, or a farm tractor. If it is used and registered as a commercial vehicle it qualifies for a commercial policy.

Getting commercial truck insurance quotes is as easy as shopping for regular car insurance. There are many sites that will allow you to obtain quotes from many companies at once. These kinds of sites have a couple of drawbacks to watch out for. The first is some of these sites don’t give you instant quotes but pass on your information to insurance companies or independent agents who then call you when they have a quote for you. With the wealth of insurance companies available for commercial truck policies you may be better served to going directly to insurance company websites. Not only will you receive instant quotes but you will be able to see firsthand the types of policies they offer on commercial vehicles.

When shopping for truck insurance you have a few things you needs to know beforehand to get accurate quotes. What type of truck is it? A pickup truck is going to need less liability insurance than someone who drives a tow truck that has more equipment on it and is more likely to cause a greater amount of damage in an accident. Because of this the liability insurance needs are going to be greater for the tow truck and will of course create higher premiums. What are your monthly or yearly mileages? If you’re driving an eighteen wheeler across the country your insurance rates are going to be higher than if you’re driving the same truck for shorter runs in your region. How much liability coverage do you need? If you are purchasing insurance for one truck or a fleet of trucks you’re going to want to look for a policy with at least $250 thousand combined single limit liability. Anything less than this and you run the risk of putting the business in jeopardy incase of a major accident. You can carry the state minimums for coverage is you need the lowest rates possible as most insurers do offer these minimums.

As with any insurance the cost of your premiums is related to a few things. Your business type, truck type, and the amount of driving you do have been mentioned. Like any other automobile insurance product your driving record comes into play. If you have had a bunch of moving violations or insurance claims against you your premiums will be affected as with any other policy. Keep this info in mind when shopping for a quote so you can get the most accurate quote possible.

If you drive any kind of truck for a living or own a business that has its own fleet commercial trucking insurance is a must have form of protection. Keeping your business protected from lawsuits and injuries that do and will occur is an important part of any business plan. Not only does it protect your livelihood but the lively hood of your employees as well.

Is it Time to get Life Insurance?

Insurance Whiz — Sat, 26 Dec 2009 12:54:00 +0000

Is it time for you to get life insurance? It is kind of a loaded question and does depend on a few factors to think of life insurance as a necessity. If you are single with no family whatsoever then life insurance is not high on your list of priorities. However having a family and own home or a business it may be time to go out and get life insurance quotes to get a policy in place to protect them if something happens to you.

Why get life insurance you ask? Simple, to protect your family from having to pay funeral costs out of pocket. If you own a house there is an even bigger reason, leaving your spouse and children with the burden of a mortgage hanging over their heads. If you have children not only do you want to protect them from losing their home due to financial hardship but also make sure they are covered come college time. In the case of a business owner who has a partner you want to make sure the business is able to weather the financial storm upon your death. While not on the same level as taking care of your family and business you leave behind will be a part of your family’s life and so protecting it and your business partners makes sense in the grand scale of things.

When it comes time to get a policy the easiest and quickest way is to get life insurance online. Just like shopping for auto or home owners insurance getting quotes can be quick and painless. Armed with a few vital pieces of information and between ten to thirty minutes of free time you can get several quotes from several different providers. The fastest way is to visit a site that will get you instant quotes from multiple providers at once. Be aware that some of these sites only pass on your contact information to agents who then call you. These sites are the slowest way to get quotes so avoid them if you’re in a hurry. Another way is to visit the insurance provider’s sites directly and get a quote through their system. While this is slightly more time consuming it is also a great way to see what each company offers in the way of policies. The only information you will need handy to get your quote is your weight, height, and if you’re a smoker or not.

The only other consideration you have is what type of life insurance policy you want. If you only want a temporary policy for a business or to cover a mortgage a term life insurance policy may be what you need. Term life insurance covers you and pays out in a certain time frame ranging from five to 30 years. This is great for a mortgage because a typical mortgage is a 30 year loan. However if your looking for more of an investment and something to cover you for however long you live a Whole life insurance policy is what you want. There are many types of whole life insurance policies available and if you chose to obtain a quote directly from an insurance provider your options will be fully explained to you.

When you have a family or start a business it is time to get life insurance. Not only for the protection of your family and business but as peace of mind for yourself. With a life insurance policy in place you can rest easy knowing your family and business are protected if tragedy strikes and you are no longer around to take care of things.

Private Dental Insurance Information and Shopping Tips

Insurance Whiz — Tue, 22 Dec 2009 12:53:01 +0000

Private dental insurance is most often overshadowed by the need for health insurance. But it should not be so quickly pushed to the wayside as dental health is as important as overall health for any family or person. Most people may not realize that even if they go in for a general cleaning once a year that the cost can run upwards of $400. If any other work must be done like a filling the costs can run between $75 and $150 per filling depending on the filling type. This doesn’t include x-rays and the office visit.

Private dental insurance plans come in two different type’s traditional insurance with a monthly premium and low cost dental discount plans. The best type of dental coverage is going to depend on your dental needs. If you have healthy teeth and want to get the lowest possible monthly premiums a dental discount plan may be the best choice for you. However if you want the best coverage for the future than a regular insurance plan will be the best choice.

One of the draw backs of a private dental insurance plan is the relatively high monthly premiums for a family. The typical costs for a family plan are a shade over $100 a month for the top coverage plans but run between $30 and $60 for individuals or a couple. These top plans cover 80 to 100 percent of preventive cleanings and office visits and 60 to 80 percent of simple dental work like fillings. If you need more expensive work like a crown or work from an Orthodontist the typical coverage is between 0 and 50 percent depending on the type of work. Also when it comes to these coverage’s typically require a 6 month waiting period for fillings and if offered 12 months for other major work. Most lower end plans only cover cleanings, fillings, and crowns and offer no coverage for an Orthodontist.

Shopping around for an affordable dental insurance plan is much like looking for car insurance. There are several major insurance providers who may or may not be able to directly sell you an insurance plan. The only way to check this is by searching the internet for these providers and checking their websites. You can get direct quotes from these providers if they can sell direct to you. If they are unable to sell a direct plan in your state most will provide you a link to a third party website that offers plans in your area where you can purchase a plan or get a quote. More often than not the plans will be from the main or other major providers. the rates are typically the same quotes you will see directly from the insurance companies so you will not be paying much more if anything more when going through a third party website.

Private dental insurance is an important part of you or your family’s overall health and wellness plan. Preventative dental cleanings are the corner stone for long-term healthy teeth. With the rising costs for dental care a dental insurance plan is a great way to keep costs down for the entire family.

Return of Premium Life Insurance Policy: Facts and Fiction

Insurance Whiz — Sat, 19 Dec 2009 12:51:38 +0000

Term life insurance by definition is a short term form of protection and at the end of the term your premiums have been paid for nothing unless you chose a return of premium life insurance policy. With most term life insurance policies unless the policy holder dies their premiums were paid for nothing. While some people will say that the policy can be rolled over into a regular life insurance policy the money still was spent for nothing.

Like any type of life insurance policy you have a few choices to make. How much coverage do you need? How long of a term do you want on the policy? For this question the typical terms available are between 5 and 30 years increasing by 5 year increments. What is your current height and weight? Are you a smoker? How often do you want to pay your premiums? Payment plans can be paid yearly, twice a year, quarterly, or monthly which is the most popular option. Having all of this information close at hand will make it easier for you to get quick policy quotes.

There are many people who say that return of premium life insurance policies are an unwise investment. However most term life insurance policies are purchased as a shot term form of protection of an investment like a home or business. They are typically not used in place of a regular life insurance policy and so it seems unwise to discount them as useless. For instance the typical homeowner’s mortgage is 30 years. So if you purchase a return of premium term life insurance policy of 30 years to cover the cost of the house. For the sake of argument let’s say you pay $50,000 in premiums over the course of those 30 years. Which sounds like a better deal? Having wasted that $50,000 now that the house is paid off after 30 years or getting that $50,000 back now that you don’t need the extra life insurance policy to cover the cost of the house? The reason that many professionals and consumers alike think the policy is a waste of money is because they are treating it like an investment. They will argue that you would make better returns if you used that $50,000 in another form of investment. While this is true that other investment will not protect your family from the debt of a mortgage if you die. That is exactly what a term life insurance policy is a specific form of protection for an investment in case you die. The bonus of term life insurance with return of premium is that if you never have to use it you at least get your initial investment back. That is something you can’t say about other insurance policies that never get used.

If you are in the market for a term life insurance policy for protection take a good hard look at a return of premium life insurance policy. While the yearly premiums can be up to 50% more expensive over a regular term life insurance policy chances are you will get the premium all back in the end. This is just not the case with a standard term life insurance policy where if the policy doesn’t get cashed in you lose the money.

Shopping for RI Auto Insurance

Insurance Whiz — Wed, 16 Dec 2009 12:50:21 +0000

Shopping for RI auto insurance can and has been a difficult task due to their insurance laws. For years Rhode Island has been one of the most expensive states to insure a car and their rates are still well above the national average. Luckily with changes in insurance laws auto insurance in RI has become more affordable. This in part has been because of drivers having more shopping options with the explosion of the internet.

Rhode Island auto insurance rates are high for several reasons. One of the major ones being that their laws stipulate that at least one driver needs to be found at fault in an accident. Because of this law the driver found to be at fault is required to have their insurance cover all damages for both parties involved including medical bills and auto repair. This also hurts any claims that must go to court if things need to be taken that far in any major accidents. This of course hits insurance companies where it hurts, their pocket book and they have adjusted their rates for Rhode Island drivers accordingly.

Finding the rates for RI car insurance is no different than shopping for insurance anywhere else. The best rates are typically going to be found online. It is recommended that you start off with the sites the offer quotes from multiple insurance companies. Make sure the site you use is going to give you instant quotes instead of having local insurance agents call you. If you are unable to find such a site most major insurance companies will provide you instant quotes from their own websites. The only drawback to this is you will be entering the information over and over again for each company. Make sure to get quotes back from at least three to four different companies to get the best rates. Going with the first quote you see can often times lead to paying more than you need to for coverage.

There are some things to keep in mind to help you get accurate insurance quotes. Rhode Island insurance laws require you to carry a $25,000/$50,000 uninsured / underinsured motorist bodily injury coverage. The same limits need to be in place for bodily injury liability coverage as well as $25,000 in property damage coverage. These high limits will are also a factor in the higher prices for Rhode Island drivers. These are the state minimums and in some cases much higher than other states. It is something to keep in mind if you’re moving to Rhode Island from a state that only requires liability coverage for vehicles. To help keep your costs down you can increase the amount of the deductable for your policy. While this means that any claim you make will require more money for you to pay damages out of pocket. If you’re a safe driver and have very few claims it is something to take a look at to keep the monthly costs down.

Just because RI auto insurance rates are some of the highest around doesn’t mean you can’t find a deal. Just keep the information provided in the article close at hand and you should be able to get the best deal possible on your insurance. Just keep it in the back of your mind if you have moved to Rhode Island that your insurance rates will probably be higher than what you’re used to.

Tips for Getting Quick Car Insurance Quotes

Insurance Whiz — Mon, 14 Dec 2009 12:48:55 +0000

If you are in need of car insurance now or are just looking for a better rate there are many ways to get quick car insurance quotes to save you time. Traditionally it would take several phone calls to different insurance agents to find the best price. That meant repeating the same information over and over again wasting time that could be better spent doing more productive thing With a few tips that time can be cut down dramatically allowing you to spend most of the day doing what you want and not having to spent it shopping for insurance quotes.

No matter how you shop for insurance there are some pieces of information you need have handy to get accurate quotes from anywhere.

Make, model and year of the car.
If it has an anti theft system or not.
What size engine does it have?
Does it have anti lock braking or not.
What safety features it has, where the air bags are, automatic seatbelts, etc.
How many moving violations you have had in the last 5 years.
How many accidents or insurance claims you have filed in the last 5 years.
If you have had an insurance policy canceled in the last 30 to 90 days.

The easiest way to get a quick car insurance quote is by using the internet. There many different types of sites available and the best kind are the ones that will give you quotes from multiple companies. These sites work one of two ways either giving you quotes directly from insurance companies or by having a local insurance agent call you. By far the quickest way is to use the sites that give you instant car insurance quotes. While some insurance agents are quick to call you, it is still a time consuming process and may not be worth the hassle.

If you don’t feel comfortable sending personal information to a third party website you can go to most major insurance companies websites and get a direct quote. For accurate insurance quotes companies needs information like social security numbers, number of recent insurance claims, speeding tickets, and other personal information you may not want to share with a third party site. Insurance companies often use your social security number to determine if you have had many policies canceled in the past and to make sure of your identity. It should be noted that sometimes using a company’s own website will get you a better quote than using a third party system. You may also be able to better tailor your insurance policy to your needs saving you money in the long run while still getting a quick insurance quote.

Quick car insurance quotes are easy to find online and are often much quicker than calling local insurance agents. Not only can you save time but many insurance providers offer discounts off their normal rates by buying a policy online. They can do this because it saves them from having to pay agents and pay customer service reps who you may otherwise call to help you instead of doing it yourself. If you do purchase your insurance online you also gain the benefits of paying your bills online. Getting instant insurance cards to keep in your vehicle instead of having to wait for them to be mailed to your home. If you need to add a vehicle or remove a car from your policy in most cases that can be done instantly online saving you time and money in the long run.

Tips on Getting a High Risk Auto Insurance Quote

Insurance Whiz — Thu, 10 Dec 2009 12:48:03 +0000

Are you a driver who has had some insurance problems in the past and need a high risk auto insurance quote? If so you aren’t alone, many people from all walks of life fit into the classification as a high risk driver. High risk drivers are drivers that fall into several different categories. Drivers under 20 years of age or elderly drivers are considered high risk due to inexperience in the case of young drivers or diminished driving skills that comes with old age.

If you are a driver that has received several moving violations over a 3 to 5 year period you also fall into the high risk category. If it has been more than 3 to 5 years then these older violations don’t count towards your classification as a high risk driver and should not be of concern to you. Even if you don’t have any speeding tickets if you have a modified car or a car that is considered to be a high end speed model you may have no choice but to consider looking at high risk auto insurance companies for your policy.

Shopping for high risk driver auto insurance is no different than looking for any other auto insurance policy. A few basic pieces of information need to be kept handy to get accurate high risk auto insurance quotes. The more accurate the information the more accurate the quotes will be. You will need to know the make, model and year of vehicle you have. If you have safety accessories like air bags, automatic seat belts, and anti lock brakes these will help keep the insurance premiums down.

If you have a car that has been modified in anyway y be it a high end sound system or performance wise you will need to disclose this information. If you don’t truthfully disclose this any theft or damage may not be covered and you will have no protection for your investment. Standard insurance policies only cover OEM equipment that comes with the car. So if you have a high end system and it is stolen they will only reimburse you for the cost of purchasing a stock system from the manufacturer of the car. The same goes for any items like high end wheels and tires, turbo chargers, etc.

Auto insurance for high risk drivers is no longer difficult to find. There are several insurance companies specializing in providing insurance to those deemed as high risk drivers. The best option is to obtain quotes directly from the company’s web sites. All of them can be found on the internet with very little work and their sites will provide you with instant quotes. If you would rather deal with a company face to face you can try local independent insurance agents as they often deal with multiple insurance companies.

Obtaining a high risk insurance quote can be done quickly and easy. Gone are the days of having to call all insurance agents or companies that server your state and hope for the best. Everyone makes mistakes and some auto insurance companies have realized this and have tailored their company to fit eh needs of those people. If you are considered a high risk driver you no longer have to worry about finding auto insurance that will cover you. It is as simple as getting on the internet and getting a few quotes from the insurance companies that cater to high risk drivers.