Monthly Archives: May 2017

The Affect of Car Insurance Premiums

Insurance premiums are set by your insurance company using set criteria. Basically, it all comes down to statistics. They look at specifics of mortality rates for certain groups of individuals of different age groups, men and women.

 

What Affects My Premiums?

Most times when you get into an accident or get a ticket your premium goes up. When you get into an accident you will most likely file a claim with your insurance company. This is what you are paying for when you purchased your insurance policy. You purchased protection so that if you get into an accident you are covered and your damages will be paid for and fixed.

 

Filing A Claim For An Accident Where You Are Not At Fault

Even though you did not cause the accident and you were not at fault you should file a claim through your insurance carrier. This is important for a few reasons. First, if the other driver does not have insurance your comprehensive/collision coverage should cover your damages minus your deductible. If the other driver does have auto insurance it is still important that you file a claim with your carrier as they will assist you and assure that the other insurance company covers the claim. If there has been any injuries your medical coverage (as long as you have it) will cover your injuries.

 

Filing A Claim For An Accident Where You Are At Fault

It is very important to file a claim immediately following an accident. Your insurance will be responsible for your damages and medical along with the other party if you are at fault.

How About Cars Come to Your State

The day when self-driving cars will be sharing the road with human drivers is closer than you might think.

And in some ways, it’s already here.

But vehicles that take the driver out of the equation aren’t as futuristic as they sound. In fact, according to Business Insider, it is estimated that nearly 10 million self-driving cars will be on the road by 2020.

There were 22 companies testing autonomous vehicles in California as of February 2017, and Uber began offering autonomous vehicle rides, with a backup driver, in Pittsburgh last October.

Ford has announced plans to have a “high-volume, fully automated” autonomous vehicle commercially available by 2021 through a ride-sharing service. The vehicle will not have a steering wheel or pedals.

“Full autonomy is really just around the corner. It’s all the more amazing when you think about all the various hurdles that still have to be overcome between now and that point in time,” says Ed Kim, vice president of industry analysis for the automotive research firm AutoPacific.

A new report suggests that states will need to take the lead in dealing with the traffic and safety issues that will arise when autonomous and driver-operated vehicles start sharing the roads. The Governors Highway Safety Association issued the report in February. As of today, no state has enacted a law prohibiting autonomous vehicle testing or operations, and  self-driving cars can operate legally in most, if not all states without any explicit authorizing legislation, according to the report.

One of the key challenges is how drivers of more traditional cars will react when they’re sharing the roads with autonomous vehicles, says Kara Macek, spokeswoman for the GHSA.

For example if autonomous vehicles are following the speed limit, will human drivers become aggressive around those vehicles? Research shows that they could, Macek says.

“Should they be programmed to break the law? We don’t have the answers, just the questions,” she says.

Repair a Cracked Windshield

Just one tiny rock hitting your windshield can trigger a chain of events that can ultimately lead to costly repairs and potentially compromise the structural integrity of your vehicle. Even a small chip can crack and spread across your windshield over time.

And in most states, you can get a ticket for driving with a damaged windshield if the crack is large enough to impair the driver’s vision.

Needless to say, there are financial and safety reasons for fixing a damaged windshield in a timely manner. The good news is that as long as the damage is caused by something other than a collision, most insurance companies will not count auto glass damage as a claim on your policy, as long as you’ve comprehensive coverage.

Many companies pay for windshield repairs at 100 percent coverage.

Here are a few things you need to know about windshield repair and what’s covered by insurance. Be sure and ask about windshield repair coverage when shopping for auto insurance.

 

Why you should fix a chipped windshield

The windshield provides a significant portion of structural support to the cabin of a vehicle and helps keep the roof in place in the event of a rollover. According to the Auto Glass Safety Council, the windshield provides up to 45 percent of the cabin’s structural integrity in a front-end collision, and up to 60 percent in a rollover.

It also allows the airbags to properly deploy to cushion passengers, and it prevents people from being ejected in a serious collision.

ALSO: How Much Is Traffic Congestion Costing You?

When the damage is minor, taking early action almost always prevents the damage from spreading.

“Even if it’s a small chip, don’t wait. Because the glass layers in windshields are now thinner, most chips will eventually crack,” says Melina Metzger, spokeswoman for Safelite Group, a third-party administrator of auto glass claims for more than 175 insurance companies.

Cold and hot weather can make small chips spread quickly, so repairing chips as soon as they occur helps to eliminate the need for replacements in the future.

The United States are currently uninsured

An estimated 12.6 drivers in the United States are currently uninsured. What impact does this have to a licensed, law abiding driver? It means costs might not be covered when someone with no insurance hits your car, leaving you to pay out-of-pocket for damage and/or medical bills. Drivers with minimum insurance may not have enough liability coverage to pay your expenses.

Plus, chances are that these people with inadequate or no insurance do not have the money to pay for the damages on their own, which is where uninsured motorist property damage insurance comes into play.

Today, many insurance companies offer uninsured motorist property damage in their coverage to protect insured drivers from uninsured drivers. Uninsured motorist property damage insurance coverage can help pay for damage — up to your coverage limits — when accidents with uninsured motorists occur.

To help you better understand the situation, autoinsurancecenter.com has compiled a list of important questions, topics and items to know when it comes to uninsured motorist property damage insurance and how you can be best protected against uninsured motorists when they are the at-fault party.

 

What is an uninsured motorist?

An uninsured motorist is defined as “one who has no insurance, does not have insurance that meets state-required minimum liability amounts, or whose insurance company is unwilling or unable to pay the claim.”

Furthermore, a hit-and-run driver would be considered an uninsured motorist, as the cost of fixing the damage is left up to you.

 

What is uninsured/underinsured motorist property damage insurance?

First, uninsured motorist property damage coverage comes into play when the other driver involved is determined to be at-fault (or at least partially at-fault) for the accident. This at-fault driver must have either no insurance or inadequate insurance coverage. An underinsured motorist is a driver whose liability limits are too low to cover vehicle and medical costs in an accident where they are at-fault.

ALSO: Switching Car Insurance Companies: When Can You Cancel?

The function of uninsured motorist property damage insurance is to pay for the vehicle damage when the at-fault party does not have auto liability insurance. Most uninsured motorist property damage insurance will pay only up to the value of your vehicle, but it depends on your coverage and what state you currently reside.

If under your insurance policy, you do not have collision coverage, uninsured motorist property damage will pay up to a certain amount for car repairs. Depending on your state of residence, the limit might be up to $3,500. Some states will have the limit that matches the actual cash value of the vehicle. Again, check to see what your limit is within your current state. This goes the same for deductibles, as some states have uninsured motorist property damage insurance with a deductible, normally ranging from $200 to $500.