|
|
Auto Insurance 101By Chris Tolamalu
Auto insurance, as the term suggests, is insurance that you can purchase for your vehicle (cars, trucks, SUVs, motorcycles, etc.). It provides protection against losses incurred as a result of vehicle accidents. While the product seems simple, there are many different types of auto insurance policies available for purchase. Depending on the policy that you choose, your coverage levels and types will vary. Broadly speaking, these are the types of auto insurance programs on the market today:
Coverage:
• ‘Comprehensive coverage’ (Comp) – This kind of insurance insures your vehicle against the cost of purchasing a new vehicle if it is stolen or destroyed in a fire.
• ‘Collision coverage’ (Coll) – This kind of insurance insures your vehicle against the cost of repairing the vehicle following an accident or the cost of purchasing a new vehicle if it is damaged in an accident beyond economic repair.
Protection:
• Personal Injury Protection (PIP) - This insures against the cost of medical expenses and lost wages related to the use, ownership or maintenance of a motor vehicle. This insurance is mandatory in some U.S. states.
• Medical Payments (MP) - insures against the cost of medical expenses for bodily injury sustained in an accident beyond any expenses that may be covered by PIP.
• Legal liability claims against the driver or owner of the vehicle following the vehicle causing damage or injury to a third party.
While ‘Liability insurance’ covers only legal liability, ‘comprehensive insurance’ covers PIP, MP, as well as legal liability. In the United States, liability insurance covers claims against the policyholder and any other operator of the insured’s vehicle. If, however, any other operators live at the same address, they must specifically be covered on the policy. For rented vehicles, most rental car companies offer insurance to cover damage to the rental vehicle.
While comprehensive insurance covers most aspects of damage which can affect the car itself or the driver, there is one risk associated with buying a new car is not covered even by comprehensive insurance – once the car is bought, there is a sharp decline in its value. During this period (immediately after a car is bought), in which the remaining car payments exceed the value of the vehicle and thus the compensation the insurer will pay for a ‘totaled’ (destroyed, or written-off) vehicle, customers may consider purchasing ‘GAP insurance’. GAP insurance was established in the early 1980's to provide protection to consumers based on buying and market trends.
|
Car enthusiasts comment on rare Ferrari find (The Register Citizen)
SHARON - Knowledgeable automotive enthusiasts shed light on the world of expensive cars Saturday, in the aftermath of police recovering a stolen Ferrari in Sharon on Thursday. Police are continuing the investigation into the theft of the rare 250 PF 1958 Ferrari, stolen in Spain in 1993. It was found at the home of Barney Hallingby, who has not been charged with any crime.
Steer Straight uses bumper stickers to try to improve teen driving (The MetroWest Daily News)
To help reduce car crashes involving teens, Sudbury's Deborah Smith and Wellesley?s Anne London have launched Steer Straight Inc., a Wellesley-based teen driver protection safety program utilizing bumper stickers to get its message across.
Police recover rare, stolen Ferrari in Sharon (Republican-American)
SHARON ? A rare 1958 Ferrari convertible that was reported stolen in Spain in 1993 was found late Thursday in the collection of Paul L. "Barney" Hallingby, who didn't know the car was stolen when he bought it in 2000.
DUI checkpoint set (Napa Valley Register)
Napa drivers had best not decide to drink and get behind the wheel of their car.
Consumer protection laws take effect Aug. 1 (Crookston Daily Times)
New laws going into effect Aug. 1 will help consumers get what they pay for, according to Minnesota House Commerce and Labor Committee Chairman Joe Atkins. From new laws that keep concertgoers and sports fans from getting ripped off to new penalties against unscrupulous insurance companies that wrongly deny and delay policyholders' claims, Atkins said 2008 was a great year for Minnesota consumers.
Fort Myers teen wins model car trophy (The News-Press)
Justin Hough, 14, likes cars.
Karen Pletcher is the Reader of the Week (Goshen News)
Goshen native Karen Pletcher raised four sons with her husband, Ernie, before joining the workforce in her downtown business Balloon Express. She explained that she first worked at her neighborhood school, Chandler Elementary, while the boys were in school, then at Salem Insurance for a time.
SANFORD: Too little, too late for electric cars (Daily Nebraskan)
At the New York International Auto Show on March 20, Progressive Insurance Company and the X Prize Foundation (which provided a multi-million dollar prize for the first private company to launch a man into outer space) announced the Automotive X Prize: $10 million for the first car to achieve 100 miles per gallon fuel efficiency.
Natural gas is viable option outside Florida (Orlando Sentinel)
So you've seen those TV commercials starring energy magnate T. Boone Pickens, touting compressed natural gas as an alternative to gasoline.
Innovative Information Analysis Leads to Stolen Car Recoveries (PR Newswire via Yahoo! News)
Through formal information exchange agreements with three private companies, the National Insurance Crime Bureau has proactively increased its efforts to detect and identify stolen vehicles.
|
Mapflow Launches Sharelift for Carsharing 2.0
What would a commuter carpooling service that actually tapped into the real-time transparency and flexibility of the Internet look like? Well, a lot...
THE WORLD today!
??????????????????????????? 1. US-Presidential Election 2008 and failed policies of Republican President Bush Barack Obama, winning more than 2206 del...
Lo That was the demand of reporters Audiovox control cruise the Paycheck star
The Cory idle belong to cable news. Late Birdie Gives Weir Razor Thin Advantage. S fastest growing major economy, contracted for a second straight mo...
sanborn maps
sanborn maps sanborn maps Meeting to examine comprehensive plan sanborn m...
1697 Campus Technology, boletín informativo, 3 de septiembre de 2008
Campus Technology News Update September 2, 2008 Contact the Editor | Sponsor this Newsletter | Subscribe | Change email address | Unsubscribe In T...
1970 Was a Good Year For Super Bee : Or Cruising Again in My Vintage Auto
Go out and find that special classic car Go out and don't hesitate, there's a world of good condition Super Bees out there. Buy a Super Bee now befor...
Buying a Foreclosure? Here are Some Facts to Consider
Elite Properties agents have been representing buyers on lots of foreclosure sales this year. What?s more, we?re not alone ? some 65% of the more th...
For Sale: 2003 ESX Stage 4 Subaru WRX
For Sale: 2003 ESX Stage 4 Subaru WRX Posted by on September 6th, 2008 Option Personal On Yes it?s time to sell the Subaru. (I know I rarely writ...
For Sale: 2003 ESX Stage 4 Subaru WRX
Option Personal On Yes it's time to sell the Subaru. (I know I rarely write purely personal posts on my blog, but heck even Sara has done it before...
Case of the Day- Dallas Court of Appeals
The police pull you over for speeding. The officer checks your criminal history and you have some old drug convictions. The officer thinks you look "...
Cafe owner Rick helps an old flame and her husband
Evangelicals rally behind Palin after pregnancy news. EU, Dependent on Russian Energy, Balks at Georgia War Sanctions. S daughter is pregnant, get ov...
Why is car insurance more expensive for men than women?
Why is car insurance more expensive for men than women? In most circumstances, males pay more for car insurance than females. Why? Could it be beca...
Do I need social security numbers for auto insurance quotes?
Do I need social security numbers for auto insurance quotes? Social security numbers are not required for auto insurance quotes. You may get quotes...
Do Police Know if You have Car Insurance?
Do Police Know if You have Car Insurance? Does police know if you have car insurance? In some states, officers do have instant access to a database...
THE WORLD today!
??????????????????????????? 1. US-Presidential Election 2008 and failed policies of Republican President Bush Barack Obama, winning more than 2206 del...
Online Car Insurance with No Credit Check
Online Car Insurance with No Credit Check OnlineAutoInsurance.com allows consumers to get online auto insurance quotes without credit checks or o...
Why is car insurance more expensive for men than women?
Why is car insurance more expensive for men than women? In most circumstances, males pay more for car insurance than females. Why? Could it be beca...
Does Auto Insurance Depend on your Car?
Does Auto Insurance Depend on your Car? Auto insurance rates can sometimes come at a surprise if one does not research the cost of insuring a vehic...
Friday Blog Roundup
Given all the recent problems with contaminated food, it?s not surprising that food labeling is a hot topic these days: Revere at Effect Measure think...
What is 100-300 Auto Insurance
What is 100-300 Auto Insurance The term 100-300 auto insurance refers to bodily injury liability coverage. This protection is often required when l...
|
|
Best Sellers from
|
