Caution: The Car You Want To Buy May Have Been Flooded

A car that has survived a flood can be a major repair waiting to happen. Water, particularly salt water, can have major effects on a car, depending on how deeply it was submerged and for how long. According to a new study, these cars are becoming more prevalent. The study, by vehicle history expert Carfax, found that the number of cars on the road with a reported history of flood damage rose 30 percent from 2013 to 2016, to a total of 271,000. More than a third of these vehicles are in four states – Texas, Pennsylvania, Florida and Kentucky – though every state has some. The number has been rising as powerful storms have become more frequent. The Federal 

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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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Top Apps To Avoid Drunk Driving

Drunk driving incidents claim the lives of up to 25,000 Americans per year, according to statistics from the National Transportation Safety Administration. That should be reason enough to do all you can to prevent yourself and your friends and loved ones from getting behind the wheel, while intoxicated. Even if no one is hurt, getting convicted of even one DUI offense can cost you your license, your insurance, and as much as $10,000 in legal fees and fines. In some industries, a single DUI offense can cost you your career, as well. Fortunately, thanks to mobile phone and computer technology, we now have a number of useful and innovative tools to help you have a good time, while responsibly managing 

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5 Insurance Changes to Make When You Retire

Whether you plan to travel the world, run marathons, serve your community or spend more time with family, retirement will bring radical changes in the ways you spend your time. And whenever life changes, so do the risks you face — which means retirement is a good time to look closely at your insurance coverage. You might need more, less or different coverage, and you might also qualify for new discounts.   Here are five insurance tasks you should prioritize as you enter retirement. 1. Ask about car insurance discounts and coverage There are a couple of ways you can save money on car insurance once you retire: Tell your car insurance agent or company you’re no longer commuting. Driving 

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5 Crucial Insurance Changes After Divorce

Any major life change sends a ripple effect through your finances — especially a divorce. Insurance matters may seem trivial next to the emotional upheaval of ending a marriage. But minding the details now can prevent financial pain later. Here’s a look at five insurance changes to address after a divorce. 1. Life insurance Buying life insurance and naming an ex-spouse as beneficiary may be required under a divorce agreement. If a former spouse dies, the surviving ex-spouse can use the life insurance payout to replace alimony or child support payments. Term life is an inexpensive way to provide the safety net. You choose the term, such as 10, 20 or 30 years. Once the term ends, the coverage ends. 

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What is Usage Based Car Insurance?

For decades, insurance companies have considered drivers’ histories when they calculated auto insurance premiums. They have based prices on a driver’s age, record of accidents and traffic tickets, and how long she’s been driving. Factors such as gender, marital status, and school grades have also been important. A new way of pricing auto insurance is taking hold, however. It is called usage-based insurance, though it also goes by “pay as you drive” or “mile-based insurance.” Instead of looking at how the driver has performed in the past, this method looks at what the driver is doing now. All usage-based insurance programs involve the driver reporting information to the insurance company. The most common method uses a technology called “telematics”. A 

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Do You Have Insurance When You Use Someone Else’s Car?

Joel is an attorney living in Manhattan. He relies on public transportation to get around the city and occasionally rents a car, so he does not own one. When he goes back home for a visit, he will sometimes borrow one of his parents’ cars to go out or visit friends. He certainly does not plan on having a car accident when he’s driving, so the question of who will pay if one happens is far from his mind. Liz lives in rural Maryland. She does own a small car for commuting to work. She also regularly borrows her father’s pickup truck because she owns a horse that she enters in nearby horse shows. She needs the truck to haul 

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How Vehicle Values and Claim Awards are Determined

When it comes to determining a car’s value for insurance purposes, there are several guidelines to help. Vehicle owners and insurers can use books such as Kelley Blue Book to help determine an accurate value. Insurance companies usually refer policyholders to a claims adjuster when they file claims. In addition to verifying the loss, the adjuster will determine the cost to repair the vehicle. This estimate should be used in comparison with a mechanic’s estimate. A good insurance company or adjuster will not expect a policyholder to sign any form of agreement to pay what the adjuster deems as fair. Agreements are typically made after the policyholder receives one or more estimates from mechanics, compares them to the adjuster’s estimate 

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Classic Car Insurance

Is your classic car insured on a standard personal auto policy? If so, you’re not alone but unfortunately you have the wrong insurance. Here are three reasons why you should never insure a classic car on a standard personal auto policy. Mr. Raymond’s Claim Mr. Raymond contacted my office in June after filing a claim with another insurance company for his 1963 Austin Healey. Mr. Raymond drove his car to play golf one Saturday and while driving on the Powhite Parkway he attempted to change lanes and collided with a car to his right. Both parties claimed they had the right of way but it the end fault could not be determined. When this situation happens each party files a 

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Uninsured Motorist Coverage

Unfortunately some driver’s do not follow the law and drive without insurance. According to DMV.org the Insurance Research Council (IRC) estimates that 1 out of every 7 drivers in the United States is currently driving without car insurance. Some states are now requiring uninsured motorist coverage and you might be wondering what exactly I am paying for? Uninsured Motorist Coverage Uninsured Motorist coverage provides protection when you are involved in an accident that is not your fault and the other driver does not carry insurance OR if you are involved in a loss when there driver of the other vehicle fled the scene or “hit and run”. This means there would be no coverage with their insurance company to pay 

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