Motorcycle Insurance

Weekenders and regular bikers all face the same challenges in selecting motorcycle insurance. First-time owners often make the mistake of buying a motorcycle before giving any thought to researching insurance options. The fact is, many carriers do not provide motorcycle insurance. Those that do, offer policies that are very expensive by comparison to auto coverage.
Motorcycle Insurance Coverage Basics

Rates vary greatly among companies, and coverage varies by law from state to state. Basic options in a policy may include the following:

• Medical pays a portion of costs for injuries.
• Liability covers costs for damages and injuries to others, but not the policy owner.
• Collision is the portion that pays for damage to your motorcycle.
• Comprehensive coverage helps recoup losses from vandalism, theft, or natural occurrences as well as damage from an accident.
• Uninsured and underinsured motorist coverage pays for personal injury and property damage if the person at fault does not have adequate insurance.
• Roadside assistance covers towing arrangements and certain repairs.
• Motorcycle Liability Coverage

Liability is the portion of a motorcycle insurance policy that most states regulate by law. The rates can be low, but insurance companies may require that coverage be high enough to include what you owe on the motorcycle if it is financed. Liability coverage is also variable. Most state regulations begin at the low end. You may choose to raise this protection based on your budget—or what you are at risk to lose in the event of a lawsuit.
Determining Factors in the Cost of a Policy

Several common factors determine the cost of a policy:

• Annual mileage expected
• Brand and whether it is classified as a "sport" bike
• Driving record and age
• Engine size
• Region in which you live
• Type of riding (i.e., leisure, sport, everyday transportation).

Show bikes, customized choppers, and some vintage models will typically have higher rates than average, mid-range cruisers.
Motorcycle Insurance Shopping Tips

• When shopping for a policy, be sure that medical coverage is adequate. Lower policy rates sometimes skimp on this very important segment.
• Be aware of replacement costs included in any policy. These might be stated as depreciated value rather than full replacement value. The former will pay only the cost of your bike at the time of the accident, if it is totaled. The latter offers coverage for the price of a new motorcycle, but at a higher premium.
• Under the liability portion of a policy, find out if passengers are covered. This inclusion may not be an option in all states or with all insurance companies.

Source: http://www.autoinsurancetips.com

New Car Insurance

Choosing the right new car insurance policy can be a frustrating and confusing process. Once you understand the specific requirements for your region, state, and personal circumstances, soliciting a quote also becomes an important part of the equation. Here, you'll discover a few tips that will help make shopping for new car insurance much easier.
Anatomy of a New Car Insurance Policy

Choosing the right insurance policy for your new car can be a frustrating and confusing process. Once you understand the specific requirements for your region, state, and personal circumstances, soliciting a quote also becomes an important part of the equation. Here, you'll discover a few tips that will help make shopping for new car insurance much easier.
Your New Car and the Cost of Insurance

The process of buying a new car, although sometimes filled with a little trepidation, is exciting, nonetheless. When calculating the cost of a new car, you add in sticker price, taxes, maintenance, and cost of gas. Somehow insurance costs get lost in the mix. A good rule of thumb is the more you pay for your car, the more you are likely to pay for insurance. A top-of-the-line, fully loaded luxury car will cost more to insure than the no-frill economy car for two reasons: the luxury vehicle is more likely to be targeted for theft and the luxury vehicles parts are much more expensive to repair and/or replace. Now, there are exceptions to this rule. For example, Volvos receive more insurance discounts because they, on average, inflict and receive less damage in collisions. Volvos also have lower rates of theft and do a better job protecting passengers than most other car brands.
Liability Insurance for New Cars

Liability refers to bodily injury and property or vehicular damage when you cause an accident. You will want to carry a recommended $100,000 for the former and $300,000 for the latter, per collision. You can choose the amounts, but it is often wise to go with the highest levels you can afford. State laws regulate lowest-end amounts for leased or purchased vehicles.
Collision and Comprehensive Coverage for New Cars

Collision and comprehensive coverage are determined by the Blue Book value of your car plus repair cost estimates. If you are involved in an accident, collision coverage will pay for repairs or replacement. Comprehensive coverage is also effective in the case of acts of vandalism or damages incurred from natural disasters, including weather-related damages.
Personal Injury Protection and Uninsured Motorist Coverage for New Cars

Personal Injury Protection (PIP) will cover medical expenses in accidents involving a vehicle. Protection extends to you or covered family members even as passengers in other vehicles. If a vehicle strikes you while walking, you are also eligible for coverage.

Uninsured and underinsured motorist coverage fills the gap when the other person cannot or will not pay. If you are the victim of a hit-and-run or your vehicle receives damage by someone else, this portion of the policy covers you.
Tips to Save on New Car Insurance

Always shop around, both locally and through Internet resources. Obtain at least three quotes to make an informed decision and consider these tips:

• Consider safety add-ons that protect occupants, including side-impact restrains, collapsible steering columns, and interior padding
• Consider safety add-ons that help collision avoidance, including anti-lock brakes.
• Look for companies that offer replacements for total losses. Some companies are now offering a service that replaces a new car that is totaled with another new car (same make and model), without charging or deducting for depreciation. “New” is usually defined as having less than 15,000 or within the first year of purchase (whichever comes first).

Source: http://www.autoinsurancetips.com

Used Car Insurance

When purchasing insurance for your car, there are a variety of factors to consider. The state minimum requirements for auto insurance coverage vary depending on the state in which you reside; for example, in the state of Colorado, where I currently work as an insurance agent, the minimum requirements for auto insurance coverage is 25/50/25, which pertains to bodily injury liability limits. This translates out into $25,000 per person, $50,000 per incident, and $15,000 for property damage. Keep in mind that these are the absolute minimum limits required by law. I would definitely recommend carrying more than that in bodily injury and liability/property damage coverage. If you cause a multiple-car pile-up, or even cause an accident where a few people are injured, chances are that you would cause more damage than you think. The extra premium you are paying for more coverage is well worth it (and this is coming from someone who is pretty conservative when it comes to spending money).

Comprehensive and Collision Coverage
It is also important to consider what deductible amounts would work for your used car situation. It is important to keep in mind that the higher your deductibles are, the lower your premium amount for that year is. Also, there are two kinds of deductibles: comprehensive and collision. Comprehensive pertains to any damage caused to your vehicle by vandalism, acts of God, hit-and-run, and hitting an animal. Collision has to do with actually hitting another vehicle while on the road. Comprehensive claims do not affect your future insurance premiums, but collision claims do negatively affect you future premiums. So, I feel that you should have a lower comprehensive deductible, and a higher collision deductible. My personal auto policy has a comprehensive coverage of $100 and a collision of $1000. Also, glass is covered under the comprehensive deductible. Some insurance companies have a $0 deductible for glass coverage, so ask your agent about this.

Used Cars Worth Less than $2000

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Auto Insurance Costs for Your Teenager

Parents of newly minted drivers have much to fret about, with research showing that concerns about teen driving top all other parental worries. In addition to lost sleep, count on significant additional expenses, too. Parents can expect their auto premiums to nearly double when adding a teen driver, because 16-year-olds are nearly 10 times more likely to get into accidents than other drivers, according to the Insurance Institute for Highway Safety.

You can impact these expenditures and still maintain good coverage with these ten effective ways to control teen auto insurance costs:

• Add your teen to your policy rather than buying separate coverage. The premium rates will typically reflect a combined history of all drivers on the policy.
• Unless your teen drives an insured vehicle more than anyone else, you will save additional money by designating her an “occasional driver” rather than a principal driver.
• Insurance costs will be far higher on new and sporty cars, and higher on two-door cars than four-door cars.
• If the car is more than six or seven years old, consider buying liability insurance but not collision or comprehensive insurance, or at a minimum get a high collision deductible.
• Get plenty of liability coverage, at least 100/300/50.
• If you don’t already have one, get an umbrella policy which adds at least $1 million to your auto or homeowner’s liability protection. It’s comparatively cheap insurance, and it’s frighteningly easy to run up seven-figure medical and legal costs with catastrophic crashes.
• Recheck your rates frequently. Many rates for teens drop every six months to a year.
• Some insurers will give a discount if your child has a “B” average. Ask.
• Some insurers offer discounts

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Selecting an Auto Insurance

When shopping for auto insurance, do a little homework first, shop around, and select your insurer carefully. Your insurer should offer both fair prices and excellent service. These tips will help you find the right insurer for you:

1. Know your state's auto insurance requirements:
2. Write up your personal auto insurance profile:
3. Comparison Shop:
4. Meet with potential insurance agents:
5. Compare Again:
6. Read your policy:

• Most states require you to carry a minimum amount of liability coverage. Many states have "no-fault" auto insurance systems. Coverage for medical costs for you and your passengers is optional in some states. Coverage for damage to your car is optional.
• List pertinent information concerning what type of vehicle you drive, where you drive, who else drives, what your driving record is, where you live, what optional safety features your car has. This profile will make the next step easier.
• Prices for the same coverage can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the Yellow Pages, and call your state insurance department for guidance. Contact insurance agents or companies for general pricing information. Select a few insurers for personalized quotes.
• Make a few appointments, bring your personal auto insurance profile with you, and ask questions. You want a fair price AND quality service. Ask about available discounts, higher deductibles, service options and claims procedures after accidents. Take notes.
• Consider cost, coverage offered, and quality of service available. Select your insurer.
• Yes, even the fine print! Ask questions. Keep your policy at hand. Call your insurer to keep your policy up-to-date, inform your agent of any changes (new car, new job, new driver, etc.), and ask periodically about any possible discounts. Review your policy yearly with your insurer.
• Keep your insurance information with you:
• Many states require drivers to carry a proof-of-insurance card with them when driving. Ask your insurer for a card, and keep it in your wallet or in your car.