Auto Insurance Rates Are Going Up

Get ready to pay more for auto insurance. A combination of factors is pushing car insurance premiums up across the country. The reasons are varied, but they all combine to result in higher premiums for car owners from coast to coast. Here’s what’s behind the coming rate hikes – and some tips on how you can minimize the pain. More accidents First, the number of fatal traffic incidents has spiked recently. According to information from the National Traffic and Safety Administration, fatal accidents increased nationally last year by 10 percent. That far outpaces inflation and population growth, and reflects the biggest year-over-year increase in traffic fatalities since the 1960s.   More distractions The likely culprit: Texting and driving. Distracted driving 

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Student Driver Discount Insurance

Student-Driver Discount Insurance helps you save while they learn Your child is away at school for the year and not using the family car regularly, so you may think it’s time to drop them from your auto insurance policy. That is certainly an option when your child leaves home, but the student-driver away discounts can be a better fit for your family than taking your child off the plan entirely. Let’s see if you qualify for student-driver away discounts, why the discount is worth it and how much you’ll save. Who Is a Student-Driver Away Discount For? Most auto insurance carriers consider you eligible for a student-driver away discount if your child attends boarding school or college at least 100 

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The Difference Between an SR22 and FR44

I am often asked the difference between an SR22 and an FR44. SR22 Insurance An SR22 is required by the Virginia DMV if you have tags on a car and it’s not insured. Regardless, if you are driving the car or not, you have to maintain insurance as long as you still have tags on the car. The Virginia DMV randomly checks for active insurance so make sure your policy is paid to date. Alabama has recently implemented a real time insurance verification system so look for more states to introduce this as well. FR44 Insurance An FR44 is required if you obtain a DUI or DWI. With an FR44 your liability limits must be equal to or greater than 

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How Teen Drivers Affect Your Car Insurance

When teens are about to turn 16, chances are they’re dreaming of carefree days behind the wheel with the windows down and the wind in their hair. As the parent of a new teen driver, your dreams may be clouded with worry and higher insurance rates. Talking to your insurance agent is a first step in dealing with both topics. Knowing that you have adequate car insurance coverage can offer peace of mind when you hand over the keys to your teenager. Your agent can help you design a policy that protects your family and meets your budget. When to Add Your Teen Driver to Your Car Insurance Every driver must be insured, even while they are driving with their 

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How Does My Marital Status Affect My Car Insurance Rate?

Being single has its advantages. A lower rate on your car insurance isn’t one of them. Your marital status is one of several factors that car insurance companies look at when they calculate your rate. What the companies are trying to do is predict how big of a risk you are. They’re trying to determine if you’re more or less likely to get in an accident than someone else. One way they might do so would be to look at your life in detail – talk to your neighbors, your family, your boss to find out what kind of person you are and how likely it is you’ll get in an accident. While that might seem more fair in some 

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Multi-policy Discounts Can Save a Bundle on Auto Insurance Rates

Are you looking for easy ways to save time and money? Then, you should learn more about combining the various types of insurance you have with one insurance company to take advantage of a multi-policy discount. You may qualify for a multi-policy discount if you have one or more cars and an apartment or home. But it might be up to you to ask your independent insurance agent about the discounts available to you. Let’s see what kind of insurance policies you can bundle, why it’s beneficial to get a multi-policy discount, and what you can expect to save by consolidating your insurance premiums under one provider. What Policies Can You Bundle with Auto Insurance? Chances are that you have 

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How Can I Save Money On Car Insurance With a Teen Driver?

Ah yes, your teen is finally behind the wheel, which allows you to hang up your hat as the resident chauffer. But in addition to that newfound sense of freedom for both parent and teen, comes a new pinch in the pocketbook. It’s true, parents of teen drivers typically incur an increase in their car insurance premiums. But we have some tips on ways to save that can offset the cost of having a young driver on your auto insurance policy. Choosing a Vehicle for Your Teen Driver One factor that can affect your rate significantly is whether your child will have their own car. There is a substantial savings in having a new teen driver share the family vehicle 

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What Affects My Car Insurance Rate?

There are many mysteries in the world. How your credit rating is determined is one of them. The Loch Ness monster is another. What affects your auto insurance rates is a third. Knowing what affects your auto insurance rates – and how to get the best rate you possibly can – is not as hard as it seems. The key is to understand that several factors are considered to determine insurance rates, some of which you can control and some you cannot. What Auto Insurance Coverage Do You Really Need? Determining the type of coverage that you need for your car insurance plays a role in the cost of your insurance premiums. Your independent insurance agent can help you determine 

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Do I need to buy more than the minimum bodily injury liability protection?

Not if you’re a billionaire and aren’t concerned about forking over hundreds of thousands of dollars if you injure others in a car accident. For the rest of us, the answer is almost always yes. Bodily injury protection can be what stands between you and bankruptcy. By paying it, you can lean on your insurance company to cover you in case you get in a wreck that seriously injures one or more people NOT IN YOUR CAR. (The insurance that takes care of you and your passengers is called Medical Payments or Personal Injury Protection.) Bodily injury liability coverage is defined by two numbers, individual and total coverage amounts. The former is what would be paid to a single person 

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Insurance Rates Increasing in Richmond

Why are insurance rates increasing in Richmond, VA? Storms throughout the country, low interest rates and increased repair costs are putting a lot of pressure on insurance companies. Tornados, hurricanes, wild fires and strong thunder storms have caused severe damage throughout the country. Even though this damage did not happen in Richmond, insurance companies draw from the same pot of money. It doesn’t seem fair but it’s the concept of insurance- spread around risk to off-set major financial loss. Would you rather pay an extra $300 a year or $300,000? Insurance companies are required to invest in fixed assets. Because interest rates have been low for a long period of time, insurance companies are not able to off-set losses with investment gains. What used 

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