Archive for the ‘Saving Money On Auto Insurance’ Category
Discounts & Saving Money on Auto Insurance
Posted by Cassandra in Saving Money On Auto Insurance on May 4th, 2010
When shopping for auto insurance the ultimate goal is to find a reputable company and the lowest premium. While searching for insurance on the web or over the phone it is important to remember carriers will offer different discounts for various reasons. Saving money on your auto insurance is easy, when requesting a quote ask if the following discounts apply to you:
- Low Mileage Discount: Those who drive less than the average driver are more often than not eligible for a low mileage discount. The magic number is commonly 7,500 miles or less per year however some carriers offer discounts for those who drive less than 10,000 even 12,500 per year. This key discount can make a significant difference and is important to ask about.
- Auto Club Member: Drivers who belong to an auto club, such as AAA, are usually eligible for additional discounts and in some cases may increase your current auto policy limits with NO extra charge!
- Good Students: Not only will good grades get a student into the college, graduate program, or aspired career – they can also give young drivers a discounted rate on their auto insurance.
- Continuous Insurance: Drivers with a continuous record of auto insurance policies are often eligible for discounts.
- Completed Defensive Driving: Once successfully completing a defensive driving course, motorists should be eligible for an additional premium discount.
- Companion Policy: Drivers who purchase a companion policy, meaning those who bundle their auto and home, condo, or rental insurance together, are eligible for discounts on both policies. Drivers who sign companion policies through MassDrive may save up to 5% on their auto insurance and up to 20% on a home owners policy.
Make note of the above discounts. If your agent or the online quote generator does not ask about them, you may not be receiving the best quote. When receiving a quote it’s also important to realize your date first licensed and driving record have a great impact on your premium. If you have not been asked about your first licensed date or verified your driving record, you may not be receiving a final quote. Ask your agent if you are eligible for additional discounts and if they have verified your record to ensure you are receiving an accurate quote.
For a free quote comparison, give your friendly MassDrive agent a call today!
Massachusetts Makes Top 10 for Least Expesive Auto Insurance
Posted by Cassandra in Saving Money On Auto Insurance on April 14th, 2010
A recent survey published by Insure.com has revealed the United States most and least expensive states for auto insurance. The study was based on the average auto insurance premium for more than 2,400 vehicles in 10 zip codes per state with six of the United State’s largest auto insurance providers.
With an average auto insurance premium of $2,510.87, Lousiana takes the lead for the most expensive state to insure a vehicle. Insure.com reasons Louisiana holds this title as a result of the state’s court system and the rough condition its roads are in. Not far behind is Michigan as the second most expensive state to insure an auto at an average premium of $2,098.29. Michigan’s high insurance rates can be attributed to a state medical law and a terribly high unemployment rate. With unemployment at a whopping 15% many are driving uninsured, which increases the burden on insurance companies and in turn a driver’s premium.
Maine however has nothing to complain about as it comes in as the least expensive state to insure a vehicle with an average premium of $902.85. Maine’s low rates can be attributed to a couple factors including less people on the road and less traffic congestion as well as a low number of accident claims. Additionally at least 30 insurance providers offer coverage in Maine, increasing competition and pushing premiums down.
When the Massachusetts auto insurance market was deregulated additional insurance providers entered the scene encouraging greater competition and gradually lower auto insurance premiums. Massachusetts holds out as at the 7th least expensive state to insure an automobile. The best way to find the lowest insurance premium is through comparing quotes through different carriers. MassDrive compares auto insurance premiums and coverages for you, saving you time and money. Give a friendly MassDrive agent a call for a free quote comparison today!
TOP TEN MOST & LEAST EXPENSIVE STATES FOR AUTO INSURANCE & AVERAGE PREMIUM
Top Ten Most Expensive:
1. Louisiana $2,510.87
2. Michigan $2,098.29
3. Oklahoma $1,869.39
4. Montana $1,857.96
5. California $1,774.41
6. South Dakota $1,772.83
7. Washington, D.C. $1,753.19
8. Georgia $1,751.42
9. Illinois $1,679.15
10. Connecticut $1,678.90
Top Ten Least Expensive:
1. Maine $902.85
2. Vermont $968.58
3. Ohio $999.86
4. Wisconsin $1,010.93
5. New Hampshire $1,011.23
6. Iowa $1,039.04
7. Massachusetts $1,043.80
8. North Carolina $1,130.45
9. Arizona $1,152.50
10. Tennessee $1,170.12
Recourse for Toyota Drivers & At Fault Accidents
Posted by Cassandra in Saving Money On Auto Insurance on March 29th, 2010
Toyota drivers involved in recent recalls have worried about how this will affect their auto insurance coverage and premiums. Although a standard auto insurance policy does not exclude vehicles damaged while under recall, drivers may face additional surcharges and/ or costs if they were involved in an at fault accident. Thankfully Massachusetts residents have the option to appeal a court decision over an at fault accident, a privilege that was almost taken away by the former Massachusetts Commissioner of Insurance Nonnie Burnes.
Burnes felt, according to an article by William Lapointe, that with the newly deregulated market drivers would be able to shop around and find lower rates thus making no need for an appeals board as the driver may simply switch carriers. Massachusetts residents were weary of this measure to eliminate the Board of Appeals, however the final push to keep the Board came when the spot light focused on the fact that if a driver was assessed fault of an accident, although they have the ability to chose a different carrier their SDIP, or license point assessment, would remain the same. Pressure from the public, legislators and lobbyists was enough to force the government to maintain the Board of Appeals.
The Massachusetts Board of Appeals hears approximately 50,000 cases in a year from drivers who believe they were wrongly assessed the blame for an at fault accident. On average about half of the appeals are overturned and the at-fault-accident is removed from the driver’s record as well as surcharges by a driver’s insurance company.
The Massachusetts Division of Insurance issued a Consumer Alert announcing hearings for drivers who appealed a decision prior to the recall would be reopened. The Massachusetts Board of Appeals was not previously aware of the manufacturer’s defect and is looking to overturn any court decisions a Toyota driver may feel was wrongly determined with the new knowledge of the nation wide recall. After an at fault accident a driver should automatically receive a notice for their right to appeal the decision.
Appeal hearings are open to the public and for the most part informal. A written appeal is read by the hearing officer and after this is read the driver will proceed to make his or her case for the appeal. It is also good to be aware that a representative for the insurance carrier will also be present. A person’s driving record is one of the most important determinants of auto insurance premiums. Do not take it lightly if you have been wrongly assessed fault of an accident.
Specifics on Toyota Recall & At-Fault-Accidents
Posted by Cassandra in Saving Money On Auto Insurance on March 10th, 2010
Drivers who own vehicles recalled by Toyota over the past month have raised concerns about what this means for their insurance coverage and rates. Drivers who were involved in an accident prior to the recall have faced surcharges other related costs of an “at-fault-accident” that may have been due to the manufacturer’s defects and reason for recall.
Thankfully Massachusetts drivers have an appeal provision that protects these drivers from additional charges and costs of an accident due to Toyota’s recalled parts. The Board of Appeals hears approximately 50,000 cases each year, of which about half the original verdicts are reversed. Once overturned the “at-fault-accident” affecting a drivers record and increasing a driver’s insurance rates will be removed.
Drivers who wish to appeal a decision should discuss the appeal with their local agent first. Speaking with an agent will give the driver a better understanding of the terminology and may share a greater knowledge of auto insurance w to use in Massachusetts insurance carriers are required to use specific standards of fault when determining someone’s responsibility or fault in an accident. One of these standards includes the “Standard of Fault 19″ in a collision that a single vehicle is involved, the fault is assessed to the person driving that vehicle. In other words if the accelerator of a recalled Toyota became stuck and the vehicle drove into a tree or other object, besides another vehicle, fault would be assessed to the driver. This is an at-fault-accident someone would want to bring to the Court of Appeals to remove this at fault accident from their record.
The Massachusetts Division of Insurance issued a Consumer Alert that announced hearings for drivers who appealed a decision prior to the recall would be reopened. The board was not previously aware of the manufacturer’s defect and is seeking to right any court decision that a Toyota driver may feel would have been different with the recall. After an at fault accident a driver should automatically receive a notice for their right to appeal the decision.
Appeal hearings are open to the public and for the most part informal. The written appeal is read by the hearing officer and the driver is then going to make his or her case for the appeal. It is also good to be aware that a representative for the insurance carrier will also be present. A person’s driving record is one of the most important determinants of auto insurance premiums. It should not be taken lightly when you are wrongly assessed fault of an accident.
Gas Prices drop again!
Posted by Ryan in Saving Money On Auto Insurance on February 6th, 2010
For the second week in a row, gas prices drop in Massachusetts! AAAof Southern New England reported monday that the price of self-serve, unleaded regular at Ocean State stations was $2.72 per gallon. This is a 3 cent drop from last weeks prices.
This may be the cause of the 8.2 percent price drop of oil in January. The first month-to-month decline since July and the biggest decrease since December 2008, Bloomberg News reported.
This is great news for Massachusetts drivers, so get out there and fill up while the prices are low!
Massachusetts Housing Market Recovering
Posted by Cassandra in Consumer Advocacy, Saving Money On Auto Insurance on January 26th, 2010
A four year decline in the housing market came to a halt this past December. According to a new report by The Warner Group single-family home sales increased from 40,356 in 2008 to 41,583 home sales in 2009. Although the median purchase price of homes continued to drop 6.6 percent, the decline was not as steep as the 11 percent fall in 2008 and the 10.6 percent drop in 2007.
“The latter part of 2009 gave us some clear signs that the housing market is stabilizing and heading for a recovery, and while prices were still falling the percentage drop last year wasn’t as steep as it was in the previous two years. What’s more, December was the first month in more than two years that the monthly median home price climbed year-over-year. The improving economy and the home buyer tax credit definitely helped fuel home sales.”
-Timothy T. Warner Jr., CEO of The Warner Group
First time homeowners seem to be jumping at the opportunity to save up to $8,000 on new homes. A first time homeowner is defined as someone who has not owned a primary residence in the past three years. However it is important to recognize repeat homeowners may receive up to a $6,500 credit as well. To qualify for the federal tax credit as a repeat homeowner a person must have owned and lived in the same residence for a minimum of five consecutive years during the past eight years. For more information on the federal housing tax credit visit the official website at: www.federalhousingtaxcredit.com.
When purchasing a new home another key purchase, required by most mortgage companies, is homeowners insurance. With purchasing a new home come many payments, bills, and debt. A great way to save on homeowners insurance is to bundle it in a companion policy with your auto insurance. For a quick free quote bundling auto and homeowners insurance together give MassDrive a call.
Comparing Quotes in Massachusetts
Posted by Cassandra in MassDriver.org, Massachusets Division of Insurance, Massachusetts Insurance Agents, Massachusetts Auto Insurance Rates, Saving Money On Auto Insurance on December 30th, 2009
Auto insurance is mandatory to drive a vehicle in Massachusetts, and with good reason. Auto insurance will help pay the cost of damages to another person’s auto or property, your own vehicle, even your passengers medical bills depending on the types of coverages purchased. Although the benefits of insurance are obvious, choosing the right carrier is more difficult.
Talk to your friends, family, and co-workers about their auto insurance. Ask if they have any tips from their experience comparing quotes or have anything to say about their current carrier. Also be sure to take a look at any insurance carrier through the Better Business Bureau and National Association of Insurance Commissioners websites. Read up on the number and severity of complaints made against any auto insurance company you may be considering. Signing a policy with an company that consistently has bad reviews and serious complaints may not be in your best interest.
Try shopping online, finding and comparing quotes may be easier than you believe. After the Massachusetts auto market was deregulated many drivers have stayed with their previous insurer. A great way to save money is to compare quotes from different insurance companies.When comparing these quotes however make sure you’re comparing apples to apples. The Massachusetts Division of Insurance warns drivers:
When comparing quotes, keep in mind that coverages, limits, deductibles, and discounts have big effects on prices. A small difference in even one of these areas can make a bad quote look like a good one.
An even easier way of comparing auto insurance quotes is through a auto insurance broker. A broker represents you, helping drivers compare and find the most affordable plan. Brokers can look over insurance quotes and explain the benefits and differences between them. When shopping around give MassDrive a call. Your insurance shopping experience will be breeze when someone who knows the ins and outs of auto insurance compares the quotes for you.
Check Insurance Before Driving Rentals
Posted by Cassandra in Consumer Advocacy, MassDriver.org, Massachusetts Auto Insurance Rates, Saving Money On Auto Insurance on November 30th, 2009
As the holiday season takes full swing many travelers find themselves in need of a rental car. When purchasing rental cars most businesses will offer the option of additional insurance. It’s important for a driver to check in with their current carrier to find out what coverages would follow members of the policy.
Many drivers who already have an auto insurance policy will find their current coverage offers identical or better coverage than what rental companies offer. A number of drivers will decline the coverage without knowing what their own auto insurance policy covers leaving themselves under or uninsured. While on the contrary other consumers purchase the additional coverage which their current auto insurance would cover.
Not only is it important to consider current auto insurance, but other insurance policies held. For example someone with renters or homeowners insurance policies may cover burglary of things from inside the car. Also health insurance policies may cover the driver’s medical bills should an accident occur.
Another great alternative to checking with your current auto insurance policy is to check with your credit card company. Some credit card compaies will offer secondary auto insurance when you charge the rental. If they do offer secondary coverage, it’s still very important to call your auto insurance carrier to confirm between the two coverages damages would be paid for by them and not out of your own pocket.
Mass Home Sales on the Rise
Posted by Cassandra in Consumer Advocacy, MassDriver.org, Saving Money On Auto Insurance on November 25th, 2009
The Warrner Group, a publisher of real estate information based out of South-Boston, reported last week Massachusetts single family home sales have have risen 17% from October or 2008. This has made October the 4th consecutive month of increased home sales. Many of the sales seem to be driven by first time homeowners looking to take advantage of the $8,000 tax credit, that was to expire the end of November but has been extended into 2010.
This increase in sales will also mean a number of new homeowners are looking for homeowners insurance. To save money on your insurance policies ask your insurance carrier for a companion policy. For example MassDrive offer these policies, when you sign up for your auto and homeowners insurance together you receive discounts on both.
Determining Auto Insurance Premiums
Posted by Cassandra in Consumer Advocacy, Saving Money On Auto Insurance on November 12th, 2009
Auto insurance rates are generally determined by the same standard factors. In addition to your previous driving record your rates depend upon the following factors:
1. The type of vehicle you drive: Statistically some vehicles have a higher rate of accidents and may be more expensive to repair. Also some vehicles are stolen more often than others.
2. Use of the vehicle: If you use the vehicle for work your premiums will most likely be higher than if you used the vehicle for personal use.
3. Your age, sex, and marital status: Studies have shown older drivers, females, and married individuals are involved in fewer accidents, thus they will receive a lower premium.
4. Your neighborhood: Where you live will have a good effect on your premiums as well. More densely populated areas will be more prone to accidents, thus a higher premium.
5. Prior insurance: If you lack prior insurance or you’re a resonably new driver insurance companies see you as a high risk. With less experience than other drivers you’re premiums will be higher.
