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Lending Your Car? Are You Liable?

Last week, as I was preparing for my next vacations, I got a question from my dad. You see, my wife, kid and I are going to Virginia Beach where we’ll be meeting with my parents. We’re flying there but they’ll be driving so he asked me a question. “If I lend you my car, will you be covered and if so by which insurance?” Fairly easy question I thought but then I had doubts so I researched it online and also asked my insurance broker about it. Thankfully, they both came back with the same answer:) Basically, yes I’m

Don’t Leave That GPS Out For Everyone To See

I don’t get it. Not one bit. Why do some people continue to leave valuable and visible stuff in their car? Take for example GPS devices which a lot of people tend to leave out in the open. Why they do it? I guess part of it is because: -they don’t feel like a GPS is as costly as it once was -they are insured so figure what’s the worst that can happen There are a few problems though. First off, having a visible GPS sends out a signal. It gives a hint to anyone looking for a good “steal”

Why It’s Not Just The Price That Matters When Buying Car Insurance

I often turn on the TV and see these ridiculously low-budget commercials for car insurance companies that are screaming about how ridiculously low their rates are and how you can stay within the legal limits of the law for almost no money. When I see these I can’t help but think that people who dial the number are setting themselves up for a rude awakening when they go to make a claim. There are good deals and value to be hand in the car insurance industry (just like any other), but these companies that are offering absolutely bargain rates have

How To Buy Car Insurance For The First Time

“If I knew then what I know now.” How many times a year do we all say that as we grow older? Sadly, for most of us, wisdom only comes at the cost of our youth. If I could write my 18-year old self an article on how to buy car insurance for the first time I would likely have saved myself thousands of dollars during a period of my life when I needed it most. Just think about what those compounded savings on a car loan or a mortgage would have looked like, or even how a basic investment

When Renting A Car, Would An Accident End Up On My Record And Affect My Insurance Premium?

This is a question that we received, a very good one I might add. There is unfortunately no clear answer to this from what I was told. When renting a car, two common choices are to get insurance from the rental company or to charge the rental to a credit card that offers such coverage. In all cases, a minor incident that does not end up requiring further investigation will usually not have an impact. However, any collision that would end up being reported and included into your driver record would likely become available by the time you are either

How To Get Cheap Car Insurance

If you’re like most people out there and wondering how to get cheap car insurance, don’t worry, you don’t necessarily have to sacrifice quality in pursuit of a good deal. There are several way that you can get cheap car insurance without putting yourself at risk for an extremely high deductible or payment, or even worse, not being covered in the event of an accident. These range from some of the more obvious methods that you have likely heard about, to some strategies that may not have crossed your mind. The classic answer to the question of how to get

Liability Car Insurance

Liability car insurance is absolutely essential to drivers in the USA and Canada, as well as most other places in the world. As common as it is, many people are unaware of exactly what liability insurance means, or what it entails the owner of a liability insurance policy to. Contrary to what many people think, liability car insurance does not cover any costs to the driver who is at fault including any of their medical bills and/or car repair expenses. Liability only covers damage to the person who is NOT liable, including any damages to their property and/or any medical

Car Insurance Premiums and Deductibles

A car insurance premium is the amount that gets paid on a consistent basis (some people schedule them monthly, others quarterly, bi-annually, or yearly). It gets paid whether to ever make an insurance claim or not. Now some might think that this doesn’t sound like a good idea at all. It is true that you could pay hundreds of dollars in car insurance premiums over your lifetime and never once get anything back from the insurance company. On the other hand, most of society accepts this as a price worth paying in order to protect oneself from the danger of

Rental Car Insurance

Rental car insurance is one of the lesser known aspects of the vehicle insurance world. Rental car companies love to take advantage of this fact. Most people don’t think about the slightly dry world of insurance very often, and the vast majority don’t even consider the idea that their rental vehicle won’t be covered under their normal plan until they hit the front desk. This situation is tailor-made for a high mark-up since you can’t drive without the car being insured (in most places anyway) and you are already at the desk. The end result is the average consumer paying

Coverage Characteristics of Auto Insurance

If you go into an insurance brokerage without knowing some of the coverage characteristics of auto insurance, you’re setting yourself up to pay a lot more than you have to. By doing a few minutes of reading you can educate yourself on the basic terms and features that most auto insurance packages will include. You can also take a peek at what the market rates are so that you don’t pay more than you should. Knowing that you and your vehicle are protected is extremely important, and getting good value for your hard-earned dollar is essential in these tough economic

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