Why Should You Shop Around for Auto Insurance?Written by Jon Register
How do you know if what you are paying for your insurance is a good deal? What is a good deal? Is choosing cheapest company best way to go? Does buying from most expensive company mean you are buying best coverage? Generally, a good deal is a state of mind. As long as you are happy, with amount of coverage, you have and how much you paid for it, you got a good deal. For each person, amount of coverage they need and what they can afford to spend is usually a different amount.
The main reason drivers overpay on their insurance is they do not shop around. CarInsurance.com offers an easy way to shop around. They do compare pricing of several auto insurance quotes. Knowing how much coverage you need will help you select an insurance company. This is one of best ways for consumers to maximize what they get for their insurance premiums.
Insurance is a highly competitive business. There are thousands of insurers offering policies to consumers. Each consumer's goal should be to find a financially solid company that offers a fair price along with superior customer service. How do you know which company can provide such a combination of both good pricing and customer service? One way is to talking to friends, relatives, and business associates. Ask people you know and respect what insurance company they use. Ask if they are pleased with how their company handles claims.
The insurance industry is highly regulated. It is important to do business with a company that is licensed by state in which you live. Another factor of strength a company has is its A.M. Best Company rating. You want to be comfortable knowing that in event of a claim your company will be there for you. A.M. Best Company is industry leader providing ratings and financial information for insurance companies. AM Best ratings are recognized as standard by which an insurers' financial strength is measured. The ratings are available here: http://www.ambest.com. CarInsurance.com lists AM Best rating of each company once you complete your quote.
Should I Buy Rental Car Insurance?Written by Tim Register
Rental car agencies have a menu of insurance policies they would like to sell you. While each policy could be of some benefit under right circumstances, you should review each plan (its provisions, limitations, and exclusions) before making a purchase. It is a good idea to request detailed information from an agent at rental office, as most companies only provide a summary on their Web sites.
Keep in mind; you may not need to buy this additional car insurance because you have auto insurance from your own car insurance company. Generally speaking, when you rent a car, liability coverage limits you have in your own auto insurance policy remain in effect with same limits. In addition, comprehensive and collision coverages you have in your own auto insurance policy remain in effect with same deductibles. You do have comprehensive and collision coverage don't you? See our article, "How Much Car Insurance Should You Buy?" for a listing of coverage types and definitions.
You may also have some kind of additional auto insurance coverage through your credit card but it is important that you check your credit card information for specific details. Some cards only offer coverage if you rent your car from a particular agency. Some limit days for which coverage is available. Some will only provide coverage for certain types and/or classes of cars. With some cards, coverage is not automatic and you must enroll in a program to get coverage. Some cards that advertise automatic rental insurance really only reimburse you for deductible that you would have to pay under your regular insurance policy. Still others may provide only collision and comprehensive coverage, leaving you exposed for personal injury or property damage to others. Rental car agencies typically offer liability coverage in two parts - a supplemental liability policy protects against claims from others and a Loss Damage Waiver (LDW) covers rental car. LDW is not technically insurance; rather, it is a company's agreement not to hold consumer liable for loss from all or part of any damage to merchandise.