Insurance Companies

When you ask for a new car insurance quote from your current or a new provider they always ask the question if you have been involved in an accident or have been pulled over recently etc, etc. My question is, do they already know this info and are they maybe testing me or do they really don’t know? I’ve had two moving violations within the past 5 years and I’m wondering how to answer these questions when I shop for insurance on a new vehicle.

if you have gotten a ticket or two or three, i would stay with the same company and not make too much noise. unless you get in an accident, the likelihood of the insruance company running your driving record is almost zero. they won’t know. if you try to go to another company – they will run your driving record – bank on it. and, the ticket(s) will show up and their quote will be higher as a result. Your current company does not know about it. Stay w them and don’t make any noise.

Are car insurance companies regulated by any state or federal offices?

The insurance companies are regulated by the state insurance department. This applies to all insurance companies irrespective of whether they are general insurance or life insurance companies

A few years ago I had a minor bump in my car, as it was outside a volvo main dealer I asked for a quote to repair it. They quoted £690 including a guarantee on repairs. Insurance company wanted it to go to approved repairer, ended up costing £1790. No wonder insurance is so expensive.

You would actually expect a posh main dealer to charge more than an approved but tatty repair shop.

It’s insurance economics 101. they pay the prices and then they are justified to increase your premiums and make more profit. It’s a vicious circle.

Because of my credit low rating, I have been paying regularly my creditors such as phones providers, professional bodies and charities through standing orders. But the insurance companies insisted on Direct Debt or Credit cards which I cannot use as of now. Please assist in finding any car insurance company that would take a bank standing order. Thanks.

Progressive.com

Just wanted to know if most companies cover insurance on your car when it has been vandalized?

If you carry Comprehensive (sometimes abbreviated as FTC) coverage, then yes, vandalism is covered. You probably carry a deductible that you would be responsible for. Most people carry a $250 – $500 deductible. Your policy or your renewal bill will tell you.

However if something is stolen from your vehicle, that would actually be covered by your Homeowner’s or Renter’s insurance.

Im 17 ears of age livin in the UK. I really NEED to know te best car insurance companies. Ive not passed yet but i will have soon, il only be drivin an old punto or clio or summat. ideas please people! thanks

When you get a car the best thing to do is go on compare.com or meekat.com
We have saved a small fortune over the years with these as they search for the cheapest.

I have found for the last couple of years a company called bullseye have been the cheapest for us. (google them)

Good luck

Oh my friend just said a company called quinn may be a cheaper one for you.

x

I was looking for a list of costs for different treatments that car insurance companies pay out to claimants (personal lines).

You’re not going to find that list, at least, not for free.

This is part of the proprietary data that insurance companies use to create their rates – trade secret. They heavily guard that information.

Should we target them for a federal government tax dollar paid for competitor?

I mean its not fair for car insurance companies to make a profit either is it?

The federal government could compete with them for our business like they would with health insurance..

Oh wait, wouldn’t that put them out of business?
We are required by LAW to have car insurance.

Being a bad driver is a choice. Bad drivers can choose not to drive, or they can choose to drive responsibly. Insurance companies charge increased rates to bad drivers based on demonstrated risk of injury and property damage, based on a driver’s record. Following this model, insurance companies cover everyone and are profitable.

Auto insurance companies do not kill people to make a profit as health insurance companies do.

Being sick is not a choice. Bad choices are a very small factor in health. Nobody chose to have complications after surgery or have a disabled kid. ∠°)

I keep seeing ads on TV which claim this or that car insurance company is cheapest. Are they really that different, or is this just marketing?

Make sure you understand why the rates are different. For instance if your current policy has towing and car rental included, make sure that is included in the policy you are comparing it too. Make sure the deductible is the same…and so on….

That said, I did have an experience where I just bought a newer car and my old insurance company raised my rates quite a bit! When I called in to pay a bill, they asked me if I’d like to compare rates, and I did get a much lower quote on exactly the same (apples for apples) policy!

They were both national company, so I guess the new company is using price to bring in new business. Good for me. I switched!

Compare rates. It is pretty easy these days.

My friend has just had a letter from her old car insurance company, saying they have set up a direct debit for monthly car insurance. However, she has recently changed car insurance companies, and has not instructed the old company to set up these direct debits.

Is this legal?!

My husbands insurance runs out on 6th March and he already pays by direct debit.He got a letter telling him price etc for renewal and unless he contacted them it would be renewed automatically without having to do anything. I called them and cancelled the policy and the bank to cancel the direct debit because we got cheaper elsewhere.