Understanding The Basics of Auto Insurance

Auto InsuranceTo get the best possible insurance rates it is necessary to shop around. This can sometimes be an arduous process, but before you delve into your search for low cost auto insurance it is important to understand some of the basics aspects of insurance policies. These are some of the basic insurance policy components:


The deductible on your insurance policy can affect your monthly premium greatly. When you lower your deductive, your premium will be higher. If it is affordable, increasing your deductible to $1,000 will decrease your insurance premium. This means that you will have to pay more money out of pocket in case of an accident, but will have lower monthly insurance payments.


Insurance companies tend to partner with other businesses and organizations. These can range from credit unions, alumni associations, to banks. Sometimes it is possible to get a discount on your insurance premiums if you qualify or are a member of a partnered affiliate. If you have multiple drivers on a policy try to have the driver with the best driving record as the primary driver as this may also save additional money. Another effective method of lowering your monthly insurance premiums is to have multiple policies such as your car, home, or renter’s insurance with the same company.

Liability Insurance

Getting liability insurance is recommended if your car is not worth a lot of money. Liability will cover the other car in case of an accident if you are at fault. This insurance will also pay for any injures to other people and other damages to the car. This insurance costs less money than full coverage but is not recommended if you have a valuable vehicle.

Driving Record

Your driving record and type of policy affects your insurance premiums. If you have a good driving record and are over the age of twenty five, insurance rates tend to be much lower. Also if you record has been in good standing for the last three years you may also be eligible for premium discounts so make sure to have your insurance company evaluate your insurance policy and record.

Comprehensive Insurance

This feature of your auto insurance policy covers your car if an incident were to happen to it that is not an accident. For example, comprehensive insurance covers flood, hail, theft, and damage from storms. This insurance is necessary in most cases if there is an outstanding loan on the car as it will cover you for a replacement for a car of the same value. Comprehensive insurance is highly recommended unless you have enough money to cover repair costs or a replacement vehicle.

Collision Insurance

Collision insurance pays for repairs or for the replacement of a vehicle that was damaged in an accident. This policy will fix your car or replace it for one with similar value. For example, if your car was five years old and you were in an accident where the car was totaled, the insurance company would issue you a check to buy a car that was in the same condition and age of your car. Collision insurance is necessary if you are leasing your car or if you have an outstanding loan on it as it will allow you to replace you vehicle after an accident.

There are many useful tips and advice on car insurance online, so make sure to do your research before making a purchase.


Business Insurance For Startups

Business InsuranceIntroduction

Your business is ready to launch, so what insurance do you buy? Money is tight and it is your hide on the line. This article focuses on the insurance choices faced by entrepreneurs working to get a new business running. Three main categories to consider: 1. Required Insurance, 2. Critical Risks, 3. Economic Risks.

Required Insurance

For a new business entrepreneur, a core issue is the insurance required to open the business. These requirements can come from multiple sources.

Landlord – Often a Landlord requirement for a leased location is an early insurance barrier. A typical office, store or other commercial space lease has several clauses that trigger insurance requirements to protect your lessor. Your landlord will want your business to protect him from lawsuits stemming from your operations with Public Liability coverage. Another frequent landlord requirement is to have property coverage for any tenant building improvements. An Indemnity or Hold Harmless Clause will force your insurance company to waive any claim payment collection from your landlord even if they contributed to a loss. Your landlord will also want to be named as an Additional Insured to have access to your insurance policy and to be notified if the policy is cancelled. Before you sign your commercial lease, have your insurance agent read it and prepare a quote to consider.

Bank Loan – A bank loan is also a source of initial insurance requirements. If you borrow with your business assets as collateral, your bank will want it protected. Your banker will want adequate insurance to cover their risk and to be named as a Loss Payee. This forces the insurance company to settle any claim with approval from your banker and also to provide notice if the insurance is cancelled.

Jobsites – Construction trades often have specific jobsite requirements. If you are an artisan subcontractor, these requirements are set by the General Contractor or Jobsite owner. Most construction jobs will require General Liability Insurance. Other requirements can include Business Auto Insurance and Worker’s Compensation. The bigger the job, normally, the more intense are the insurance requirements. Before to start to work, get a copy of the insurance requirements and have your insurance agent quote what is needed. Be very wary of any job or General Contractor that is not upfront with these requirements. They will hold your paycheck until the insurance requirements are met.

Government – Legal requirements come up most often with business vehicles. In Texas, there is a minimum auto liability requirement. For larger vehicles, special types of vehicles or passenger carrying vehicles, much higher legal requirements are imposed and special state filing requirements must be met. In Texas, Worker’s Compensation is voluntary but most other states impose this as a legal requirement for business owners. State licenses for some trades will impose liability insurance coverage and reporting requirements.

Critical Risks

Once the required insurance is handled, the next focus should be on the risks that are so critical that, without insurance protection, they can destroy the business. Protection for some of these risks may be already in hand with the insurance protection that was required. However, you should still review your overall situation and identify risks that you can’t afford to take and can be offset with an insurance contract.

Perhaps you need higher liability limits than are required for your business to be a safe investment. Maybe an asset is so expensive that replacing it would bankrupt the business. Even though it is not required in Texas, Worker’s Compensation can be critical protection from the huge risk of an employee being hurt at work. Lawsuits can come from many potential directions. From which risks does your business need liability protection? A legal review from your business lawyer can help identify points of lawsuit venerability.

Even if you cannot fund this added protection at business opening, you should strive to purchase insurance for these critical risks as soon as possible. Until you are able to offset your business-ending risks with insurance protection, your new business will not be a safe investment.

Economic Risks

The third priority is risks that you want to insure because the protection is a good value. Why take a substantial risk, even if you can survive the loss, when you can offset the risk with affordable insurance? Often, the economic risk worth insuring is a business asset like equipment, inventory or vehicles. Consider the trade-off over a reasonable length of time. Ask yourself: is it better to pay an insurance premium and be protected or is it better to save the insurance cost and self-insure for a potential loss? A high property deductible can be a good strategy by taking the smaller risks yourself and shifting only the large asset risks to an insurance company.

Your cash flow may not be sufficient to buy protection for economic risks early but have your list ready to gradually add this productive coverage as you are able. Your long-term profitability will be improved by prudent use of insurance protection for your important assets.


Insurance should be part of your business plan. Your focus will first be on the insurance requirements that are barriers in the way of starting your business. Beyond these minimum requirements, fund insurance protection for your risks that have the potential to destroy your business. Finally, as revenues become available, enhance your long-term financial outcome by adding protection for your larger assets that can be economically insured. Good luck on your new business venture.

David W. Crump, Ross Gray Insurance Agency
Link to Business Insurance information & quotes: http://www.quoteaustininsurance.com/business

I specialize in Business, Health and Personal Insurance sales and service. A graduate of Texas Tech University (BBA Marketing), I began my career in retailing of Toy, Hobbies and Games. I have been a business owner but changed careers to insurance after selling my interest in a Dallas area Game Store Chain thirteen years ago. Hobbies include Gardening, Music (Bass Vocal) and Stock Investing. See our website at http://www.quoteaustininsurance.com/. Ross Gray Insurance Agency has a 30+ year history serving Central Texas on all facets of insurance. We are located in South Austin at 2404 S. IH-35. We are here to help!

Copyright 2009, Ross Gray Insurance Agency, Inc.

Article Source: http://EzineArticles.com/expert/David_Crump/317999

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Advice on Getting Car Insurance

Car Insurance 2If you own a car, you are obliged to obtain car insurance, but the number of car insurance companies may cause confusion, especially to someone who knows little about these policies. One common problem of car owners who want to obtain insurance is the lack of decisiveness. They often do not know where they should begin their search, and the high number of car insurance advertisements is not helping at all.

Not only should you be looking for car insurance companies, you should also look for the right coverage. In other words, you should understand what your requirements for an insurance policy are, then find out what your needs are. After you have done so, you can now look for the right insurance policy-not the right company. Many companies may provide an insurance product that matches your needs. You should then make comparison based on auto insurance reviews, features, and prices.

You have to keep in mind that while you have your own needs, the state you live in also has its own legislative mandate as to the type of insurance you should get. State requirements for car insurance vary, but most include $40,000 of insurance per accident. You must read the car insurance requirements in the state you live in.

Also, take note of the different types of coverage. Generally, they fall into three categories.

1. Liability: This coverage will only cover you if you have bumped into a car or property and caused damage to it. This coverage also includes the cost incurred by wounds sustained by the injured party. The insurance firm shall reimburse or pay for the damages that you have caused, but you will have to handle the expenses of having your car repaired.

2. Collision: This coverage provides reimbursement for repair expenses you gain after collision. Most insurance firms would require you to go to auto repair shops that they approve of.

3. Comprehensive: Complete car insurance coverage is expensive, but it provides complete coverage for all sorts of damage to your car. However, comprehensive insurance policies are not necessarily that complete. You must read the details on exclusions.

Car insurance requirements become complicated when you do not fully own your car. If you obtained your vehicle through car lending terms, then you are subject to the car lender’s restrictions when it comes to auto insurance. Normally, car lenders would ask you to get comprehensive insurance.

There are a lot of things that you have to consider when looking for the car insurance coverage that is practical for you. If you use your car mostly to go to the office and send kids to school, then you probably do not need complete insurance. It would be impractical to buy an expensive insurance policy that you may not even benefit from in the future. However, if you drive long distances, go to high risk areas, or pass along difficult roads, then, a comprehensive insurance may be appropriate. Car owners should also consider their driving habits. If your car stays in the garage most of the time, then basic insurance may be enough.

Shopping for car insurance is tricky. To find the ideal insurance product for you, read car insurance reviews. Do not be in a hurry. Take time to look into details and compare quotes.



What Is Temporary Motorcycle Insurance and How to Get It

Motorcycle InsuranceWhat is Temporary Motorcycle Insurance? Sometimes insurance policies can be really expensive and when you already have to pay regular insurance for your car it could be quite a burden to have to pay insurance again for another vehicle like a motorcycle which you may not even use every day of your life. You might be in the situation where you are about to give or completely sell your motorcycle to someone else or you might be the one borrowing someone’s motorcycle for a quick trip. For these situations you do not need to get a full yearly insurance plan; you can get temporary motorcycle insurance.

You could get motorcycle insurance to last just for a day or for a week. It really depends on your needs. The important thing is that you have insurance even if only for a short while. You might be out just for a quick trip and suddenly you’ll find yourself in the worst of accidents. Without temporary motorcycle insurance you’ll be paying a lot of money upfront, not to mention the fine you’ll have with the traffic ticket the police will bill you on. There are a lot of different temporary insurances. Take a look at the following examples below:

Daily Motorcycle Insurance; this is perfect if you are only going to be out for a single day. Say you need to borrow your friend’s motorcycle and you aren’t included in any third-part insurance plan or if you haven’t got one yourself. All you need to do is get online, fill the forms and pay through credit or debit and then print out the insurance papers yourself. This is also perfect when you have just purchased a brand new motorcycle and you know that the ride from the person you bought from back to your house is a bit far and prone to accidents. You can never be too sure and a quick, one day insurance plan is perfect.

Weekly Motorcycle Insurance; this kind of temporary motorcycle insurance is the best bet if you are going to go somewhere for vacation or if you have errands out of the state you live in. A lot of people do not get insurance for their bikes until they need to but the problem is that it can be really costly; one week insurance plans is affordable and will be able to cover your safety and the costs for accidents no matter where you go. These are a bit more flexible than the weekly plans and are a bit less expensive since you will be out for a longer period of time.

Racing Insurance; separate from the one day insurance plan, this sort of temporary insurance is specifically designed for those who will be on a bike out racing on the tracks. Racing is definitely dangerous and there are so many ways how a person could get seriously hurt and the bike could get completely ruined within the span of a single race. A racing insurance is available for those who want to get full coverage for a single day speeding on the race tracks.

How to Get This Insurance – All you need to do is log on online to the different insurance companies that offer temporary motorcycle insurance. The most common requirements that they’ll ask of you is your driver’s license information and basic contact information. There will be a quick verification process and then you can pay online using a debit or credit card. Afterwards all you need to do is print out the page they email you and that will serve as your proof of insurance in case you ever get into an accident. It is that easy and that quick to get insurance for a short period of time. Why risk your life and savings when all it takes is no more than fifteen minutes in front of a computer to print out an insurance plan to cover you for the day?

Temporary motorcycle insurance is the best viable option when you know you aren’t going to be using your bike for a very long time. Whether you just bought it or you plan to sell it, a temporary plan for a single day or a week’s time is enough to ensure your safety. It is better to be safe than sorry and now you have the option to get it for a shorter period of time for a much lesser cost.

You can read more about how to get a one day motorcycle insurance at LookUpInsurance.com


Car Insurance in Different Countries

Car InsuranceSince auto insurance can differ from province-to-province, state-to-state and country-to-country, we’ve decided to clear up the main differences with this basic rundown of the mandatory policies of the largest countries.

In Australia, Compulsory Third Party vehicle insurance is a mandatory requirement throughout most of the country. This type of car insurance usually only covers personal injury liability and comprehensive coverage is sold separately and can cover everything else a person may want for their car insurance.

Basic auto insurance is mandatory throughout Canada, but each province chooses which benefits are included in mandatory insurance and which benefits can be found with additional coverage. The provinces of British Columbia, Saskatchewan, Manitoba and Quebec provide a public vehicle insurance system while in the rest of the country insurance is available privately. All Canadian provinces have some sort of no fault insurance available to accident victims. The only difference between provinces is how much “no fault” is emphasized.

In Germany, car insurance is available through several private insurers. It is compulsory for every owner to have third party personal insurance before owning a vehicle in any federal state in Germany.

The European Court of Justice in Luxembourg ruled that gender cannot be used by insurers to set auto insurance premiums. This is a controversial law because statistics have found that men drive more kilometers than women and are also in more accidents, but also because this classification breaches the European Unions equality laws. The controversy mostly arises from the insurance companies finally being unable to take advantage of differences in gender.

Most motorists in the UK have to prominently display a vehicle license on their vehicle. This helps to make sure that all motorists have proper insurance, as the valid insurance is needed to obtain the vehicle license. The most basic and minimum level of car insurance available and required for every motorist in the UK is third party only insurance. It covers any liability to third parties, but no other risks.

The regulations and minimum requirements for auto insurance in the United States vary from each state and territory. Though every state has a compulsory minimum car insurance scheme, these schemes are different in each state.

In Ireland, the law requires that all drivers of mechanically propelled vehicles operating through public places have at least third-party car insurance. Drivers also have the option of depositing a sum of money with the High Court to guarantee against claims.

It should be noted that most insurance companies would not offer compensation for war or nuclear peril, vehicle failures or malfunctions and breakages or if the vehicle was used outside of its intended geography. For example: roaming off road with a BMW Mini that has not been upgraded to suit the task would not commonly be covered by car insurance. Being caught in the middle of America’s War on Drugs would not be compensated by insurance, either.

If moving to a different country, it would be advisable to look into their car insurance system to determine the best car insurance to suit your needs.