auto insurance comparison

According to a 2009 survey by trade association Property Casualty Insurers Association of America, 29 states have a limits trigger while 20 states have a damages trigger. Another variation is whether a particular state requires stacking of policy limits of different vehicles or policies. Due to the sharp decline in value immediately following purchase, there is generally a period in which the amount owed on the car loan exceeds the value of the vehicle, which is called "upside down" or negative equity. Thus, if the vehicle is damaged beyond economical repair at this point, the owner will still owe potentially thousands of dollars on the loan. The escalating price of cars, longer term auto loans, and the increasing popularity of leasing gave birth to GAP protection. GAP waivers provide protection for consumers when a "gap" exists between the actual value of their vehicle and the amount of money owed to the bank or leasing company. In many instances, this insurance will also pay the deductible on the primary insurance policy. These policies are often offered at auto dealerships as a comparatively low cost add on to the car loan that provides coverage for the duration of the loan. GAP Insurance does not always pay off the full loan value however. These cases include but are not limited to:In addition, some vendors and insurance companies offer what is called "Total Loss Coverage. " This is similar to ordinary GAP insurance but differs in that instead of paying off the negative equity on a vehicle that is a total loss, the policy provides a certain amount, usually up to $5000, toward the purchase or lease of a new vehicle.

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01.14.2007 | 34 Comments

There is no doubt that the biggest discount on auto insurance is the one that you get by reading the policy. Moreover, reading your policy will make you sound like a pro among the mass majority of people who do not read their auto policies. Combine to what your people advised by collecting more information online, information concerning the strength and weaknesses of your possible insurance carrier. But the right strategy to get your quote information is to check specific auto insurance companies and work with an independent agent. In contrast with captive agents who deal with one insurer, independent agents legally represent many insurance companies, and, hence can give more premium options. This can be managed online, over the phone or, simply, in person.

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01.14.2007 | 16 Comments

Thanks for the suggestions shared via your blog. The benefits industry was blindsided by this model, and they are facing lawsuits in multiple states but assuming they survive them, they will be in position to upend the traditional way benefits are marketed. The software looks great, and they claim 10,000 companies with 100,000 employees are already using them. Whether or not they survive the legal and regulatory onslaught, we love their innovative free software approach. It’s also interesting that they started in the Y Combinator startup accelerator. We expect more and more insurance and risk management startups to come from startup accelerators in the next few years as the tech crowd is waking up to the opportunities to disrupt our industry. Currently on invitation only beta, Evosure’s goal is to reduce the 60% of unwanted quote requests commercial carriers receive by simplifying the communication of constantly changing underwriter appetites through a web platform that allows brokers to describe the type of risk they have and finds you a matching underwriter. Their management team has some insurance chops unlike a lot of other insurance startups that are heavy on tech people: Matt Foran, former Director of Strategy for Zurich Specialty Products; Brian Wood, former SVP for Marsh and McLennan and Brett McKenzie, former Director of Marketing at Fireman’s Fund. We also really love their “Commercial Insurance is Sexy” t shirts, we completely agree!Combining social networking with personal lines insurance in a very interesting way creating a Peer to Peer P2P insurance solution. You create a group of friends needing the same type of insurance and pool your money together and insure the pool’s risks with a carrier. If money is left over at the end of the policy period because of good claims experience, you get a refund, or your next term’s premium is cheaper.