Saturday, July 9, 2011

Auto-insurance fraud hurts all motorists

OUR OPINION: Insurers aggressively should pursue the con artists

The lawsuit that Allstate Insurance recently filed in federal court in Miami may be bad news for the defendants -- tow-truck operators, chiropractic clinics, auto-body shops, some policyholders and others -- but it could be a good omen for policyholders. It definitely will be if it emboldens insurers to aggressively pursue fraud.
Staging accidents
The lawsuit alleges that the defendants collaborated in staging 17 auto accidents -- and possibly more -- and then filed fraudulent insurance claims. The lawsuit isn't a first. Allstate and other insurers do go after businesses and policyholders when they suspect cheating. More often than not, though, insurers find it easier to pay the claim and move on. That's because lawsuits are messy, expensive and time-consuming. Worse, the outcome of a jury trial can be unpredictable. In South Florida, even cases where the evidence of fraud is overwhelming have ended with insurers leaving the courthouse in shock and disbelief because of an unfavorable jury verdict.
As a consequence, many insurers are overly cautious about going to trial. Too often it is easier to pay than fight. The ultimate losers in this game of chicken are honest policyholders. They end up paying premiums inflated by the cost of fraudulent claims. This is why it is encouraging when an insurer goes to court to challenge an alleged bogus claim. Frankly, we wish it would happen more often.
The Allstate case involves an alleged network of businesses that brazenly and repeatedly filed claims in a scheme to steal from insurers -- and indirectly from policyholders. One driver would ram another driver's car. Both were part of the scam. Both would file claims for damages and medical bills, and the insurance companies would dutifully pay.
In these cases, the insurance companies paid out tens of thousands of dollars. Allstate realized that something was wrong when representatives noticed that the same cars with the same damage turned up in multiple accidents. The company investigated, gathered evidence and hired a lawyer to bring suit.
Billions lost
Whatever the outcome, the lawsuit sends a message to the scammers that they could end up in court and lose their businesses. There are other benefits, too. Once they're busted, the network of con artists has to cease doing ''business,'' or at least take extraordinary precautions to continue. If all insurers aggressively pursued fraud -- or even just a majority of them -- they could significantly raise the stakes for the thieves to stay in business.
Prosecutors say relatively few groups engage in organized fraud, but they steal billions each year from insurers and honest drivers. Insurers should consider prosecuting scam artists as an investment that results in lower costs for their business and lower premiums for customers.

Most Famous Auto Insurance


Safeco insurance company sells their products solely via a countrywide network of autonomous agents and dealers who offer the advice and options to the client. They also own a web-based dais where a client only needs to register his name, contact details and the requirement. The agents within minutes contact him, quote the policy and issue insurance to his vehicle.


Geico offers auto insurance to clients across the U.S. They also provide insurance coverage for your home, boat, RV, life and much more.


This auto insurance company has been in this trade for offering first-rate auto cover at a reasonable price since 1922.

Auto Insurance is designed to fiscally cover up the possible auto-related damages, loss or injuries. It assists you in the protection of the automobile, other people's property the other vehicles and drivers and the pedestrians. It may also help defend you in the incident of an auto-associated lawsuit.


Progressive is the 3rd largest insurance company in the country with the clientele of around or above 10 million people to insure their vehicles. Progressive is mainly known for the wide variety of products to suit the requirement of almost all the drivers. They provide unbeatable customer care and attention making their client permanent.


Mexbound is an online company that facilitates auto insurance to the clients all over Mexico. The insurance policy can be chosen and bought online. Mexbound through a secure online process lets you easily get a quote and take a print of your Mexico Auto Insurance policy within minutes, totally eliminating the hassles of taking halt at the border. Mexbound auto Insurance company provides 24*7 toll free claim service, roadside aid and law and travel information.

ICICI Lombard auto Insurance Company Limited is a joint business enterprise between ICICI Bank Limited and the Canada based $ 26 billion Fairfax Financial Holdings Limited.India's second largest bank, ICICI Bank and Fairfax Financial Holdings is a spread out financial company affianced into a business of auto insurance, insurance claims management, reinsurance and investment management.


Today's Texas auto insurance market does not seem to have senior drivers in mind when it comes to lower rates. Even when actual car use has diminished, some mature drivers find themselves paying higher premiums. The problem is not that Texas insurers are attempting to push senior drivers into a position of unaffordable auto insurance. The reality is simply that changes in pricing structure have made it more difficult for individual seniors to understand all of the factors that may apply to rate reduction. Consequently, senior drivers are often unaware of the specific ways in which their auto insurance rates may be lowered.

Senior drivers looking to lower their premiums on auto insurance should review their policies taking the following considerations into mind.

* Driver classification - Commonly described as automobile usage, a driver classification specifically defines the type and amount the auto will be used by the insured senior driver. Types of usage include "to and from work" or "pleasure only." A senior's driver classification may also take into account the decreases in mileage annually. Some seniors use their vehicle only on special occasion, which could result in further rate decreases. A senior looking for lower auto insurance rates should make sure the carrier is aware of the actual vehicle usage, and that this factor is being taken into account in the rate calculations.

* Drivers history - Auto insurance carriers in Texas use these three major indicators in underwriting policies and determining rates. It is recommended that all Senior drivers make their driver's history as "clean" as possible. One should contest all moving violations when possible, and cover others with defensive driving courses.

* Claims history - A Senior's claims history carries significant weight as well. The Texas Department of Insurance requires carriers to record all claims reported to them by the insured. With this in mind, it is important to understand that when contacting an insurance representative, one should specify whenever the call is for information only. Otherwise, it may be recorded a filed claim, thereby affecting your claims history and possibly rates.

* Financial score - Senior drivers should do whatever they can to improve their financial score when looking for low auto insurance rates. Stability and debt ratio are major factors that carriers take into account when underwriting a Senior's policy. Seniors that have reduced their financial obligations should make sure their financial scores reflect this, and alert their insurance agents whenever such information has changed.

As with all types of insurance, seniors should feel that their carrier's representative is willing and able to take the time needed to discuss and adjust the auto insurance policy to their clients benefit. George White understand the importance many seniors place upon the ability to contact a human being that can give them the personal time and attention they need to feel confident and secure about the auto insurance policy they receive. For this reason, George White will make sure to speak with you on an individual basis about your policy, and how lower rates may be attained. If he cannot offer you the lowest possible rate or the best policy appropriate to your situation, he will refer you to someone who can!

Give George White a call today toll free at 866-663-5262 to learn more about how you can lower your auto insurance rates by getting the type of coverage that is right for you!


Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.

Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India , like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.

There are different types of Auto Insurance in India :

* Private Car Insurance – in the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.
* Two Wheeler Insurance – the Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.
* Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle.

The auto insurance generally includes:

* Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.
* Liability for third party injury/death, third party property and liability to paid driver
* On payment of appropriate additional premium, loss/damage to electrical/electronic accessories

The auto insurance does not include:

* Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage
* When vehicle is used outside the geographical area
* War or nuclear perils and drunken driving

Some of the leading Insurance Companies offering Auto Insurance in India are:

HSBC India – Auto Secure
Bajaj Allianz - Bajaj Allianz's Motor Insurance
ICICI Lombard - Motor Plans, Two Wheeler Package Policy
United India Insurance Co. - Motor Package and Liability Only Policies
The New India Assurance Co. - Motor Policy

Types of Coverage auto insurance

Each person who drives necessitates car insurance. In fact, most states command it by law. When you purchase car insurance, you are purchasing what is called a policy. Your policy is grounded on a diverseness of factors admitting what kind of car you drive as well as what sort of insurance you want. compare auto insuranc policies are in reality a package of dissimilar types of insurance coverage.
The first step in interpreting an auto insurance policy is to ascertain the various types of coverage insurance companions offer. Some of this coverage may be compulsory by your state and some of the coverage may be facultative.

• Liability - This coverage antes up for accidental corporal trauma and property indemnification to others. Injury impairments include medical disbursements, pain and bearing and lost wages. Property damage admits damaged property and automobiles. This coverage also compensates defense and court costs. State laws ascertain how much liability coverage you must leverage, but you can forever get more coverage than your state compels.
• Collision - This coverage pays for impairments to your vehicle stimulated by collision with additional vehicle or object.
• Comprehensive - This coverage compensates for loss or impairment to the insured vehicle that doesn't come about in an auto accident. The types of damages comprehensive insurance covers include loss caused by fire, flood, vandalism, wind, hail, or theft.
• Medical Coverage - Pays medical expenses disregarding of fault when the expenses are stimulated by an auto accident.
• PIP - Personal Injury Protection (PIP) is commanded in some states. This coverage compensates medical expenses for the insured driver, irrespective of fault, for discourse due to an auto accident.
• Uninsured Motorist - compensates your car's impairments when an auto accident is induced by a driver who doesn't have financial obligation insurance.
• Underinsured Motorist - compensates your car's impairments when an auto accident is stimulated by someone who has deficient liability insurance.
• Rental Reimbursement - This type of coverage will compensate for a rental car if your car is besmirched due to an auto accident. Frequently this coverage has a day-to-day leeway for a rental car.
Numerous insurance policies coalesce a number of these eccentrics of coverage. The first step in picking out the compare auto insurance you desire for your car is to know the laws in your state. This will tell you the lower limit insurance you need for your car. It's benevolent to keep in mind that, just since your state may not compel extensive insurance, extra coverage may be meriting the expense.
After all, no one desires to be bewildered with thousands of dollars worth of bills because of an auto accident.Now, let's take a look at how to determine your insurance needs.

Bringing the Costs Down

There are four main components that can donjon compare auto insurance rates bolt down. See if you accrue into any of the accompanying categories. If you do, you may be able to save money on your car insurance disregarding of the appraise of your automobile.

1. If you are awaiting to buy a car, turn over buying a car that looks benevolent to insurance companies. For instance, insurance companies be intimate what varieties of cars are prostrate to problems. They also experience what varieties of cars are most frequently stolen. If you haven't bought your car yet, find out what cars make this "good list" amidst auto insurers.

2. Most insurance companies extend discounts for a variety of reasons - for example, estimable students, having additional than one car insured and accident-free driving are all worth a discount. Necessitate insurance companies just about particular discounts that may be uncommitted to you.

3. Deliberate carpooling or using public expatriation to get to work. The less you use your car, the less your insurance will cost you.

4. Finally, drive with kid gloves! Insurance companies are not happy to insure accident- prostrate drivers, so the more dependable you drive, the less you will have to compensate for auto insurance. Source :

Six ways to save on auto insurance

“It was an old Oldsmobile that my mom and dad gave me and the gas pedal never even worked and I had it for two weeks!” said Vickie Sheaks.
Most everyone can remember their first car.
"Our first car was a '55 Oldsmobile," said Granger resident Dave Byers.
However, most drivers can't remember what they paid for insurance then or now. “Oh, I have no idea," said Byers.The cost of insurance revs up a lot of drivers and not in a good way. To obtain copies of free quotes, you must first know a site that offers this service. There are 2 options, you can either go to each insurance company's website and fill out their Free Auto Insurance quotes form or else you can find an online insurance broker that works with a number of insurers to get your Free Auto Insurance Quotes . Both ways have their advantages but we definitely recommend you to go online and fill out all the quote forms. When it comes down to it, you can do whichever you think is the best.
The Next step is to provide accurate information on yourself as well as what you are looking for in your free quotes. Remember, if you mess up even one detail , you may end up having an inaccurate free quotes in your hand. This could lead to a huge disappointment down the line when you are told that you cannot obtain the price of the original quotes. Please bear in mind, to get a cheaper free auto insurance quotes, please provide them this detail - your background, type of car, driving history, police record, date of birth.

Remember, the more auto insurance quotes you got, the more choices you can compare. We personally recommend a minimum of 3 free car insurance quotes. Getting one quotes is a great place to start, but this is not where you should stop. Even if your first auto insurance quote looks great, you never know what the competition is going to do for you; this is until you get free quotes from them as well. Remember to set a budget for yourself, a price that you can afford.

In the end , your final step is to purchase a policy from the auto insurance quotes that you have received. This may be the most difficult decision that you are faced with; especially if there are a couple of policies that you like.

Oh ya, a short note from me, Insurance companies are inter-linked with each other, it's better to be honest with them. That's why providing precise and accurate information to get free auto insurance quotes is no joke, make sure you give the same information to every insurance company. Don't simply try out by filling the quotes with different information, they have information exchanged everyday and they would know. You will end up getting free auto insurance quote which are much more expensive and there will be no chance to lower the premium down."You’ve gotta find somebody that you trust, that understands the business and will work for you to find out what your needs are,” stated Jim Holland, owner of Holland Insurance in South Bend.

For 18 years Holland has been providing drivers with coverage and says there are some super savings available for savvy consumers.

"Increasing deductibles — we're seeing 10 and 15 plus percent discounts, taking a deductible from $500 to $1,000," said Holland. "Does the vehicle have anti-lock brakes, air bags, all the typical credits?"

You can save up to 20 percent on your bill by insuring both your home and car with the same company — that goes for renters, too.

If your credit score has improved over the last year or so, call your agent. You can roll up to a deep discount.

Parents with student drivers can save, too.

“If you have students, good student discounts are available,” Holland adds, “If you have a student away at school, you've got to make sure your agent is aware of that so they can give you the appropriate credit on your policy.”

Don't be afraid to shop around for the best rates. Byers did and he saved $500 a year.

"I just got a quote from a local insurance agency, compared it to what I had been paying for 20-something years and said ‘Hey I've got to do something different,'" said Byers.

Experts say to get at least three quotes from three reputable agencies.

Putting the brakes on big car insurance bills is as easy as:
# Increasing your deductible
# Listing all the safety features on your car
# Combining home and car insurance with the same company
# Letting your agent know if your credit score has improved
# Letting your agent know when your student is away at college; good students get better premiums
# Shopping around for the best bargain

In these tough economic times it is good to know you can get affordable auto insurance without breaking the bank or the speed limit.

"The industry is designed to protect people and we want to do it at the right value for them," stated Holland.

Auto Insurance company of United states

American National Insurance Company
American National Insurance Company (NASDAQ: ANAT) is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa. Through its subsidiary, American National de México, Compañía de Seguros de Vida, it provides products and services in Mexico.Company description

American National was founded in 1905 by Galveston businessman William L. Moody, Jr.. Today the company offers a wide array of insurance products and services including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. Mutual funds and other securities products are distributed through its broker-dealer subsidiary, Securities Management and Research, Inc.

Although a publicly traded company, the majority of the stock continues to be controlled by the Moody family through foundations and trusts administered by the trust department of the family owned Moody National Bank.[6][7]

Financial ratings[8]

American National is subject to insurance regulation and examination by all 50 states as well as federal entities like the SEC and FTC. In addition, its records are audited by KPMG as well as the major financial rating agencies. The ratings reflect the company’s capitalization, operating performance and liquidity.

* A. M. Best Company: A+ (Superior)
* Standard and Poor's: AAA (Very Strong)

American Automobile Association

The American Automobile Association was founded on March 4, 1902, in Cleveland, Ohio as a response to a lack of roads and highways suitable for autos. The organization originally had 1000 charter members, who were generally of an auto enthusiast demographic. AAA’s membership base is and was formed from a number of local and regional motor clubs that later combined forces to create a more powerful organization.

The association expanded its scope of services as years progressed. The first AAA road maps were published in 1905, and AAA began printing hotel guides in 1917. AAA began its School Safety Patrol Program in 1920, and many driver safety programs followed in the decades to come. The AAA Foundation for Traffic Safety, which conducts a large volume of studies regarding motorist safety, was established as separate entity in 1947.

AAA was a sanctioning organization for auto racing in the United States until 1956. It sanctioned many races, including the Indianapolis 500. After the 1955 Le Mans disaster, AAA decided that auto racing distracted from its primary goals, and the United States Automobile Club was formed to take over the race sanctioning/officiating.

[edit] Current operations
A typical AAA office
A typical AAA Car Care Plus center

Members belong to an individual club (such as AAA Northwest Ohio, AAA Mid-Atlantic, the California State Automobile Association, the Automobile Club of Southern California, AAA Oregon/Idaho, or Auto Club South, for example) and the clubs in turn own AAA. The member clubs have arranged a reciprocal service system so that members of any participating club are able to receive member services from any other affiliate club. Member dues finance all club services as well as the operations of the national organization.

From the standpoint of the consumer, AAA clubs primarily provide emergency road services to members. These services, which include everything from lockouts, winching, tire changes, automotive first aid, and towing, are handled by private local towing companies contracted by a state AAA club. Many AAA clubs have an automotive fleet division serving large metro areas, while private towing companies cover the surplus call volume by area. Recently, certain clubs have implemented an "on the go" diagnostic/installation automotive battery program, which offers members an additional service to an ever more demanding commute. This is part of AAA's vision for the future of automotive services, termed Go, not Tow. Clubs also distribute road maps and travel publications, and rate restaurants and hotels according to a "diamond" scale (one to five). The best hotels and restaurants according to AAA's criteria receive the Five Diamond Award. Many offices sell automobile liability insurance, provide travel agency, auto-registration and notary services. AAA also offers member discounts at over 100 partners including many hotels, Amtrak, Hertz rental cars, Jiffy Lube, LensCrafters, and Payless ShoeSource through its "Show Your Card & Save" program.

[edit] International affiliates

The AAA has reciprocal arrangements with a range of international affiliates. In general, members of affiliates are offered the same benefits as members of the AAA while traveling in the United States, whilst AAA members are offered equivalent benefits whilst traveling in the territory of the affiliate.

International affiliates include:

* The Automobile Association in the United Kingdom.
* The Canadian Automobile Association in Canada (TourBooks and maps of Canadian places are published by AAA, and are distributed by AAA and CAA clubs using both AAA and CAA logos).
* The ADAC in Germany.

[edit] AAA and motorist rights

The AAA has a mixed record with its support of motorist rights.

The AAA is known for occasional high profile motorist advisories of unreasonable traffic enforcement, such as when it rented a billboard to warn motorists of the speed trap town of Lawtey, Fl.[1] In addition, the speed trap in Denmark, South Carolina, continues to receive scrutiny, especially since the municipality raises revenue by issuing unwarranted speeding tickets, which, unfortunately, also puts unearned points on motorists' drivers licenses.[citation needed]

However, the AAA has taken positions contrary to motorist rights. Prominent examples include:

* Support of the old 55 mph National Maximum Speed Law[2]
* Support of Virginia's now-repealed traffic citation tax because of its revenue generation potential.[3][4]

In many states, the mere presence of a ticket on driver's record allows a provider of automobile insurance to charge higher rates regardless of actual risk, if any, posed by the actual violation. Therefore, as a major provider of automobile insurance, the AAA has a fiduciary interest in supporting policies or practices that maximize motorist citations.

* American National Insurance Company
* American Automobile Association
* Allstate
* American Family Insurance
* American Farmers and Ranchers Mutual (formerly Oklahoma Farmers Union Mututal)
* Amica
* Auto-Owners Insurance
* California Casualty Insurance
* CapitalOne

* Commerce Insurance Group
* COUNTRY Insurance & Financial Services
* Cuna Mutual Group
* Electric Insurance Company
* Esurance
* Expatriate Insurance
* Farm Bureau Insurance
* Farmers Insurance
* Frankenmuth Mutual Insurance Company
* GAINSCO Auto Insurance
* GMAC Insurance
* Geico
* The General
* GuideOne
* Hanover Insurance
* The Hartford
* Hastings Mutual Insurance Company
* Haulers Insurance Company
* Infinity Auto Insurance Company
* Liberty Mutual
* Nationwide Insurance
* National Interstate
* Metropolitan Life Insurance Company
* Mutual of Enumclaw[1]
* OneBeacon Insurance Group
* Pekin Insurance[2]
* Pemco
* Progressive
* Safeco
* Safeway Insurance Group
* Standard Insurance Company [3]
* State Auto Insurance Companies[4]
* Shelter Insurance Companies
* Solid Insurance Group
* State Farm Mutual Automobile Insurance Company
* The St. Paul Travelers Companies, Inc.
* Trustgard Insurance
* Unitrin Direct Auto Insurance
* Wawanesa (California)
* Westfield Insurance

Steps to Filing Your Auto Insurance Claim, getting paid !!

Getting Paid on an Auto Insurance Claim Steps to Filing Your Auto Insurance Claim, part Your Auto Insurance Claim,Evaluate Your Auto Insurance Claim, Fill out Your Auto Insurance Claim,getting your car fixed on Your Auto Insurance Claim
1. Evaluate whether or not you should file a claim: Did you know that just when you call your insurance company with a question about possibly filing a claim it is often recorded on your insurance record? It is important to keep your insurance record clean and one way is deciding whether or not you should file a claim. It doesn’t matter if the accident is your fault or not, you should ask yourself first if you can pay for the damage. Simply put, if you can pay for it yourself without financial hardship, don’t file the claim.
2. Fill out your What to do After an Auto Accident Worksheet: This worksheet, which when you click on the title is provided for print-out, will help you keep track of the information you will need to file your auto insurance claim. It is important to get every detail of the accident documented and to try to find witnesses that would be willing to talk to your insurance company to back-up your story.

3. File the claim ASAP: You will want to file the claim as soon as possible with your insurance company. Even if it is not your fault, your insurance company will handle the claim process as your advocate.

4. Prepare for a possible call from the other insurance company: If there is a dispute between the two parties in the accident, you may get a call from the other driver’s insurance company asking for your version of what happened at the accident scene. If this happens make sure you document everything you say and the name of the customer service agent you talked too.

5. Finally, getting your car fixed: If you had body damage to your vehicle this is when you will finally get it fixed. After your claim is approved, you will likely get a call from your insurance company about sending an insurance adjuster out to assess the damage or asking you to send your car to a pre-approved shop to get it fixed.

Sooner or later it happens to nearly all of us. An auto accident. You do all the right things at the accident scene. Then you made a few phone calls to get the insurance company to get the claims process started. Now it's about time for the payoff. Who's going to repair your car and how much will the insurance company pay? Let's see if we can't negotiate a fair deal for ourselves.

In most cases you'll need to get an estimate of what it will cost to repair the damage to your car. Remember that your goal is to get your car repaired properly so you won't have problems later. The insurance company's goal is to pay you as little as possible. They may suggest that you to use their 'convenient drive-in claims adjuster'. Or perhaps they'll use a quote from a local repair shop that gets lots of business from them.

Don't go for it. In either case the person providing the estimate is loyal to the insurance company. They have no reason to try to satisfy you. Find a shop that has your confidence. The dealer that sells that make of car is probably the best if they have a repair shop. You may want to get estimates from a couple of different shops. That's your choice. Check your policy. It rarely requires you to go to their shop or to get more than one estimate.

What happens if your car isn't driveable? Then have it towed to the shop of your choice. It's cheapest to do that right at the time of the accident. It's good to have the shop's name and address already available in your car. By having the car to the shop of your choice you've forced the adjuster to play on your home field. He has to respond to their estimate. On the other hand, if the car's in your driveway he can offer to have it towed to his favorite low cost shop. Then he'll have all the advantage in negotiating the price of the repairs.

OK, you've agreed on a shop and the work is completed. So it's just a matter of picking up the car. Right? Wrong! This is your last real chance to get the job done to your satisfaction. The insurance company will have named you on the check. You will be required to sign the check or a repair order stating that the work is completed. You may also need to write your own check to the repair shop for the deductible.

Don't sign off until you've thoroughly inspected the car. And I do mean thoroughly. Look at the bodywork under bright lights. Sunlight is best. Look at the car from all different angles. Is the sheetmetal straight? How's the paint? Try all the doors, windows and anything else that moves in the repaired area. Make sure that nothing is binding or crooked and that everything is properly aligned. Take it for a test drive. It should run and sound like before the accident. No new rattles. Make sure you understand your guarantee. If something goes wrong later you'll be dealing with the repair shop, not the insurance company.

If you've been forced to use a shop chosen by the insurance company, be especially careful to inspect the car. In fact, you probably would be wise to 'drop in' once or twice during the repair to actually see what's happening. Ask to see all the old parts that they were going to replace. They could save some money by repairing a molding or other part instead of buying a replacement part. All shops are not dishonest, but some are.

Suppose that your agent calls and says that you car is a total loss. They want to cut you a check for the value of the car and you just give them the car and title. There are two potential problems. First, your car was worth more to you than anyone else. That's why you were still driving it. Second, how do you determine what the car's worth?

The adjuster will probably use the Kelly Blue Book. They might also include classified ads for similar cars to come up with an offer for your car. Expect them to offer you the 'wholesale' value. That's what the dealer would pay for the car before they add their profit margin to sell it to you. Naturally, you'll end up paying retail. Shouldn't your payoff be at retail?

How can you get a higher price? By shopping! Go to a number of dealers. Read the classified ads for comparable cars. Make a list and give it to the adjuster. If that fails, ask him to find a replacement car for the amount he's offering. He's the one that says it's out there. Let him prove it.

Now's the time that homework pays off. Was your car a low mileage vehicle? That's worth something. Did you keep maintenance records to show that the car was in above average condition? Do you have any pictures or other evidence that your car was a 'cream puff'?

Oh, and don't forget to add in the cost of tax and title. In some places it can be 6 or 8% of the price of the car. In almost all cases that will be hundreds of dollars.

Hopefully, you won't ever need to settle an auto accident claim. But, if you're ever in an accident, knowing how to deal with the insurance company is essential. They expect you to pay your premiums faithfully. It's up to you to make sure that they pay properly on your claim. Nothing that the average driver armed with a little knowledge can't do. And if it ever comes up, so can you!

Auto Insurance History and Claim easily...

Claim easily,Principles of insurance,claims and loss handling is the materialized utility of insurance,Insurance company claim departments
Finally, claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for, though one hopes it will never need to be used. Claims may be filed by insureds directly with the insurer or through brokers or agents. The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form such as those produced by ACORD

Insurance company claim departments employ a large number of claims adjusters supported by a staff of records management and data entry clerks. Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience. The adjuster undertakes a thorough investigation of each claim, usually in close cooperation with the insured, determines its reasonable monetary value, and authorizes payment. Adjusting liability insurance claims is particularly difficult because there is a third party involved (the plaintiff who is suing the insured) who is under no contractual obligation to cooperate with the insurer and in fact may regard the insurer as a deep pocket. The adjuster must obtain legal counsel for the insured (either inside "house" counsel or outside "panel" counsel), monitor litigation that may take years to complete, and appear in person or over the telephone with settlement authority at a mandatory settlement conference when requested by the judge.

In managing the claims handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages. As part of this balancing act, fraudulent insurance practices are a major business risk that must be managed and overcome. Disputes between insurers and insureds over the validity of claims or claims handling practices occasionally escalate into litigation; see insurance bad faith.

[edit] History of insurance

Main article: History of insurance

In some sense we can say that insurance appears simultaneously with the appearance of human society. We know of two types of economies in human societies: money economies (with markets, money, financial instruments and so on) and non-money or natural economies (without money, markets, financial instruments and so on). The second type is a more ancient form than the first. In such an economy and community, we can see insurance in the form of people helping each other. For example, if a house burns down, the members of the community help build a new one. Should the same thing happen to one's neighbour, the other neighbours must help. Otherwise, neighbours will not receive help in the future. This type of insurance has survived to the present day in some countries where modern money economy with its financial instruments is not widespread (for example countries in the territory of the former Soviet Union).

Turning to insurance in the modern sense (i.e., insurance in a modern money economy, in which insurance is part of the financial sphere), early methods of transferring or distributing risk were practised by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively. Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practised by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen.

Achaemenian monarchs of Iran were the first to insure their people and made it official by registering the insuring process in governmental notary offices. The insurance tradition was performed each year in Norouz (beginning of the Iranian New Year); the heads of different ethnic groups as well as others willing to take part, presented gifts to the monarch. The most important gift was presented during a special ceremony. When a gift was worth more than 10,000 Derrik (Achaemenian gold coin) the issue was registered in a special office. This was advantageous to those who presented such special gifts. For others, the presents were fairly assessed by the confidants of the court. Then the assessment was registered in special offices.

The purpose of registering was that whenever the person who presented the gift registered by the court was in trouble, the monarch and the court would help him. Jahez, a historian and writer, writes in one of his books on ancient Iran: "[W]henever the owner of the present is in trouble or wants to construct a building, set up a feast, have his children married, etc. the one in charge of this in the court would check the registration. If the registered amount exceeded 10,000 Derrik, he or she would receive an amount of twice as much."[1]

A thousand years later, the inhabitants of Rhodes invented the concept of the 'general average'. Merchants whose goods were being shipped together would pay a proportionally divided premium which would be used to reimburse any merchant whose goods were jettisoned during storm or sinkage.

The Greeks and Romans introduced the origins of health and life insurance c. 600 AD when they organized guilds called "benevolent societies" which cared for the families and paid funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose. The Talmud deals with several aspects of insuring goods. Before insurance was established in the late 17th century, "friendly societies" existed in England, in which people donated amounts of money to a general sum that could be used for emergencies.

Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates. These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance. Insurance became far more sophisticated in post-Renaissance Europe, and specialized varieties developed.

Toward the end of the seventeenth century, London's growing importance as a centre for trade increased demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house that became a popular haunt of ship owners, merchants, and ships’ captains, and thereby a reliable source of the latest shipping news. It became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures. Today, Lloyd's of London remains the leading market (note that it is not an insurance company) for marine and other specialist types of insurance, but it works rather differently than the more familiar kinds of insurance.

Insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured 13,200 houses. In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, "The Fire Office," to insure brick and frame homes.

The first insurance company in the United States underwrote fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina, in 1732. Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly against fire in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses. In the United States, regulation of the insurance industry is highly Balkanized, with primary responsibility assumed by individual state insurance departments. Whereas insurance markets have become centralized nationally and internationally, state insurance commissioners operate individually, though at times in concert through a national insurance commissioners' organization. In recent years, some have called for a dual state and federal regulatory system (commonly referred to as the Optional Federal Charter (OFC)) for insurance similar to that which oversees state banks and national banks.
Auto insurance

Main article: Vehicle insurance

A wrecked vehicle

Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage: (1) Property coverage pays for damage to or theft of your car. (2) Liability coverage pays for your legal responsibility to others for bodily injury or property damage. and (3) Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses. An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.

Most auto policies are for six months to a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium. [8]

AUTO INSURANCE CHECKLIST : a guide for saving money on auto insurance

Shopping for auto insurance? The price you pay for your auto insurance can vary by hundreds of dollars, depending on your driving record, the type of car you have and the insurance company you buy your policy from. Here is a list of things you can do to save money.

Shop Around

Get at least three price quotes. You can call companies directly or access information on the Internet. Your state insurance department ( may also provide a means to compare prices.

Get quotes from different types of insurance companies. Some sell through their own agents. Some sell through independent agents who offer policies from several insurance companies. Other companies sell directly to consumers over the phone or via the Internet. The price may vary depending on the sales method.

But don't shop by price alone. You want a company that answers your questions and handles claims fairly and efficiently. Sources for finding the right kind of company include: word of mouth, i.e. friends, relatives, co-workers; your state insurance department, where you can find consumer complaint ratios by company; and consumer magazines. You can also check the financial health of insurance companies through independent rating companies.

Before you buy a car, compare insurance costs

Your premium is based in part on the car’s sticker price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft, such as air bags, anti-lock brakes, daytime running lights and anti-theft devices.

For more information on car safety, check the Insurance Institute for Highway Safety.

Cars that are favorite targets for thieves cost more to insure. For more information on car theft, check the National Insurance Crime Bureau (NICB).

Ask for a higher deductable

Your deductible is the amount of money you pay out-of-pocket before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage premium by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. However, keep in mind that you’ll need to have the amount of the deductible on hand should something happen to your car.

Reduce coverage in older cars

Consider dropping collision and/or comprehensive coverage on older cars. It may not be cost-effective to continue insuring cars worth less than 10 times the amount you would pay for coverage. Any claim payment you receive would not substantially exceed your premiums minus the deductible. Claims occur on average only once every 11 or 12 years. Auto dealers and banks can tell you the worth of a car, or you can look it up online at Kelley Blue Book.

Buy your homeowners and auto coverage from the same insurer

Many insurers will give you a discount if you buy two or more types of insurance from them. Also, you may get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce premiums for long-time customers. But shop around carefully; you may still save more money buying from a different insurance company even with the multi-policy discount.

Take advantage of low-mileage discounts

Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also apply to drivers who carpool to work.
Ask about group insurance

You may be eligible to get insurance through a group plan from your employer, or through professional, business and alumni groups or other associations. Group plans often provide substantial discounts. Ask your employer, or any groups or clubs of which you are a member, about this option.

Maintain good credit

Your credit rating may affect what you pay for insurance, so monitor it carefully. You can get this information directly from the three major credit-rating agencies (Equifax, Experian, Trans Union). There are also various Web sites that allow you to check your credit rating and provide tips on how to improve your score.

Seek out safe driver discounts

Most insurance companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also qualify for a cut if you have recently taken a defensive driving course, if you are over 50 and retired, or if there is a young driver on the policy who is a good student, has taken a drivers education course or is away at a college, generally at least 100 miles away.

When you comparison shop, be sure to inquire about discounts for the following (availability will vary according to the state and company):

o No accidents in 3 years
o No moving violations in 3 years
o Drivers over 50 to 55 years of age
o Driver training course
o Defensive driving course
o Student drivers with good grades
o College students away from home
o $500 deductible
o $1,000 deductible
o Air bags
o Anti-lock brakes
o Daytime running lights
o Anti-theft device
o Low annual mileage
o Auto and homeowners coverage with the same company
o More than one car insured with the same company
o Long-time customer

But don’t forget that the key to savings is not the discounts but the final price. A company that offers few discounts may still have a lower overall price.

Memphis Insurance - How To Find The Right Memphis Car Insurance Policy

Did you know there are over fifty national insurance companies and untold independent Memphis insurance agents offering a variety of coverage for everything from renters insurance to comprehensive health plans? It’s no wonder Memphis and Shelby County residents have a difficult time choosing a company with whom to place their insurance. Everyone in the Memphis metropolitan area knows the ongoing joke about the drivers in this city. If you’ve ever driven on the I-240 loop at any given hour of the day, you are familiar with the relevance of the joke.

Fortunately for citizens of Memphis, an over abundance of Memphis insurance agents makes it easy to shop competitive quotes when looking for a auto insurance Memphis. Competition helps to keep rates low and the level of service good which in turn translates into bargains and the assurance we have proper coverage. Let’s look into what we should consider when looking for auto insurance.

First and foremost in people’s mind is the rate or insurance premium they will pay for coverage. Finding the maximum benefits should not be overly expensive. It should be noted that insurance is all about benefits. You should ask yourself first, “what benefit will I receive in return for my paid premiums?” The scope of this article will not get into the details of Memphis car insurance policies and will be covered in a later article.

Your insurance rate is very important since the money you spend on insurance premiums can have a major impact on the family budget, especially in the current economy. Since the Memphis insurance market is highly competitive, it should be difficult to locate a rate that does not have a negative impact on your budget and still provides all the benefits needed for proper coverage.

Customer service is another important factor when considering a company. Memphis car insurance providers and their actuaries are very aware of the “Memphis reputation” and are very skilled in customer claims. It is important to locate a company that is dedicated to a high degree of professional customer service. Search out companies that employ professional and courteous representatives and local agents.

Talking to friends and family is a great source for locating Memphis insurance agents that provide quality service since they have probably experienced situations where benefits have been utilized. Ask how their claims adjusters interacted with them. Did they provide the level of service equal to the amount of premiums paid? Were they courtesy and timely in claim status and explanation? Was the agent readily available when services were needed? These are all important questions that should be asked before settling on a Memphis car insurance policy.

Reputation is another consideration that should be given when choosing a car insurance provider. Logging onto your computer and searching the Internet about the parent company of a local Memphis insurance agent can help answer many questions and establish what kind of reputation the company carries across the nation.

Also, many insurance companies offer discounts for multi-policies for other family members that need coverage as well as discounts when other lines of insurance such as homeowners or umbrella policies are held at the same insurance agency.

A Word About Dropping Your Memphis Car Insurance Due To The Current Economy

With the current economic crisis, many families are under financial strain with ever increasing pressure on the family budget. Some people have went as far as to stop paying their insurance premiums in order to make ends meet which makes it even more important for you to have minimum requirements of insurance. A few years ago, we didn’t need to worry as much about uninsured drivers on the streets. However, this fact is changing. Memphis insurance agents are seeing an increased number of policyholders letting their insurance lapse because of the current economic situation and this does not bode well for the public at large.

An increase in claims across the nation because of uninsured motorist will no doubt cause the insurance companies to increase rates to absorb the cost of these claims. If you are considering letting your car insurance lapse, first talk to your insurance agent to see if there are solutions to the problem. Memphis car insurance agents will be willing to find ways to reduce your premium through a reduction in benefits to the minimums required by Tennessee stat law rather than letting your insurance policy lapse completely.

Although times are increasingly difficult financially for families, losing your auto insurance should be not be considered lightly. Memphis insurance agents are willing to help you and your family through these tough financial times in order to keep you Memphis car insurance in force and protecting your family.

Memphis Insurance - Choosing The Right Memphis Life Insurance Policy

One thing is certain! No, not death since we all know this event is certain. The other “certain thing” is, most people don’t understand what a universal life insurance policy is and how they work. Unless you take the time to do your research or make an appointment to see your local Memphis insurance agent, odds are you will never understand how a universal life insurance policy works. Universal life insurance is just one of the many life insurance policies available and determining if this type of policy is what you need requires that you first determine what your long term goals are and if this policy will fit into your goals.

Universal life insurance policies are also know as variable life since the premiums will fluctuate over time. There are advocates of universal life insurance and there are people that believe this type of policy to be the worst possible use of money set aside for life insurance. Whatever your opinions, we are going to cover this type of policy and how it works in an ongoing series of Memphis life insurance and the various types available to Memphis area residents.

Unlike the traditional form of whole life insurance which requires set premiums to be paid over the “whole” life of the policy, universal policies can fluctuate and even use the value in the policy to pay the premiums in the future. Policyholders can also adjust the amount of the death benefit to paid. The benefits that are available through a universal life insurance policy include the flexibility outlined above as well as a growing account value that builds over the life of the policy.

One of the most appealing aspects of this kind of policy is the investments choices that can be made with the policy. Universal or variable life allows the policy holder to choose different investment instruments which part of the monthly premium is invested. These investments reflect possible gains that can be enjoyed over time, especially when the current financial markets are trending upward. However, the policyholder will also suffer losses if the financial markets are contending with a prevailing downward trend. Not unlike a 401k, the universal life insurance policy long term value is derived from market swings.

Arguments can be made that the universal life policy is not an ideal policy for people. However, it can also be argued that some people know very little about investing in the financial markets and have no other way of investing except through life insurance. This is a poor argument it is a position that holds an element of truth. Many people would rather pick peas than take the time to learn and practice sound investment procedures. Universal life allows these people two benefits. One is a death benefit that is paid out to their family when they die and an investment vehicle, however poor suited, that allows them some form of money coming in when they retire. Only by meeting with both your Memphis insurance agent and your financial advisor can you decide if a universal life insurance policy is for you.

The naysayer’s of universal life prefer term life insurance over whole life and universal policies. Their rezoning and the most sound, is the fact that the policyholder receives the maximum amount of death benefit for the least amount of paid premium. Although we will cover term life insurance and it’s benefits in a later article, simply put, term life is the probably the best type of insurance for anyone that is willing to spend a sufficient amount of time planning and setting goals for their financial well-being. People that utilize term life insurance to meet one need: A death benefit paid out in the event of their death to their family to maintain the families lifestyle and meet their expenses.

Memphis life insurance agents offer a wide variety of insurance policies that can fit the needs of anyone under any circumstance. Only by visiting your Memphis insurance agent can you determine what is the best choice of life protection for you and your family.

Memphis Car Insurance Information And Benefits

Auto insurance is one area of the industry which tends to raise many people’s emotional level. It was not always this way but with the ever increasing premiums, automobile insurance tends to raise levels of frustration, anger and resentment, Memphis car insurance is no different. When policyholders receive their bills and open them to see what they are asked to pay, these feelings of emotion are increased. What makes it increasingly so is the fact that within most states, auto insurance is mandated by state law. Because of these bills and laws making car insurance mandatory, insurance companies are not inclined to keep rates low.

The controversy over automobile insurance and the emotions it generates does not stop with the individual policyholder. The issue provokes strong responses from the insurance companies themselves who are responsible for paying claims. One of the prime targets is what the companies call “greedy lawyers” who they fault with bringing frivolous lawsuits designed to line their pockets rather than obtaining a fair settlement for their clients. The ire of insurance companies do not stop there, continuing on with rants about body shops that charge astronomical fees to repair damaged cars and the large cost of medical fees for injuries suffered in automobile accidents. On the reverse side of the issue, lawyers are equally contemptible about insurance companies and their “unfair practices” that force people to retain the services of lawyers. The argument is a vicious cycle of finger pointing and litigation with the policyholder/victim stuck in the middle.

Since Tennessee requires all residents to obtain and be insured, Memphis car insurance companies have no shortage of potential policyholders, although not everyone adheres to the prevailing laws. We are going to cover some important facts about car insurance and how understand the auto insurance business. Determining fault is often the core of litigation involving car accidents. Car insurance agents can attest to this fact. Every state has different laws governing negligence where a car accident is involved so this article will be in generalizations.

Negligence is defined as when another party causes injury to another party and is handled by the civil court systems. Not to be confused with criminal negligence. Once negligence is thought to have happened, the party accused of the act of negligence is held responsible in a civil court of law for the damages or injuries caused. There are three types of damages that can be awarded in a negligence case: punitive, special and general damages. Punitive damages are usually awarded when the guilty party intentionally engages in wrongful acts. Special damages are generally awarded to compensate injured parties for medical bills, property damage, lost wages and even funeral expenses should some one die from injuries suffered during and automobile accident. Memphis car insurance policyholders know how often this can occur with uninsured motorist driving on our roads.

The fault system is not without criticism however. Insurance companies tell us the number one reason for higher auto insurance premiums is because of the fault system and the expensive time consuming litigation involved and is major source of backed up court cases in the civil court system. The fault system can also delay payment of benefits over an extended time period which causes financial stress on both parties in legal and medical fees. Because of the prolonged litigation process involving “at fault” insurance cases, no fault is used in some cases to settle the issue and reduce the amount of litigation that ties up the court systems. Tennessee is a no-fault insurance state. As insurance premiums continue to increase, no- fault insurance is becoming more and more popular. No fault insurance is designed so that injured parties receive compensation from their own insurance companies for injuries resulting from auto accidents. In a nutshell, you insurance company is responsible for compensating you if you are injured even if it is the other parties fault. You should contact your local Memphis car insurance agent to learn more about your policy and no-fault guidelines.

In this section, we will discuss the different types of coverage. Liability coverage we will cover first since it is the most expensive and what is required by state law. Liability coverage is defined with three very different aspects: property damage, bodily injury and the cost associated with defending a lawsuit. Property damage coverage pays for negligent damage caused to another’s property or vehicle by negligent driving. Usually, the damage done is to a vehicle but this is not always the case. In some cases, a driver may lose control of their vehicle and cause damage to property such as mailboxes, fences or even houses.

Most Memphis car insurance policyholders are aware of what bodily injury coverage is but we will discuss it anyway. If your operation of your car causes someone injury, this provision is used to compensate injured parties for medical bills, lost wages and compensation for pain and suffering. It should also be known that you can be held responsible if someone is killed for replacement of income that would normally be there had the person lived.

Protecting the value of your vehicle is another important part of the insurance policy. Collision and comprehensive coverage cost about one third of what the entire policy cost. Collision is usually defined as the part of the policy that pays to repair and protect your car should you be involved in an accident. The comprehensive provision of the policy covers other damages that result from other sources aside from a moving vehicle accident. These damages could come from wind, malicious mischief, animals crossing a road, riots, hail and many other factors. Anything other than moving vehicle accident is covered by the comprehensive provision in the policy. You should consult your local Memphis car insurance agent for detailed information about your collision and comprehensive coverage.

It should be noted that collision insurance is not mandated by the Tennessee stat legislature and residents of Tennessee are only required to carry liability coverage. This is so innocent people are protected should you be negligent in driving. However, not carrying a full force policy could cause substantial hardship on you and your family should you be in a moving vehicle accident that is your fault.

The uninsured motorist is another benefit provided in insurance policies. The provision is self explanatory by it’s name but covers you in the event you are unfortunate enough to become involved in a moving vehicle accident with a person that does not have Memphis auto insurance. However, the uninsured motorist provision does not cover property damage but is designed to compensate you in the case of medical injury and loss of wages.

There are other benefits available including a rental car reimbursement and towing provisions. It is best to meet with your local insurance agent to discuss these benefits and select which is best for you and your family. Having adequate coverage is very important in today’s society. With the court systems tied up with car accident cases, it is not difficult to understand why it is so important to have and maintain a Memphis car insurance policy.

Memphis Insurance - How To Shop For The Policy You Need

We all had to do homework when we were in school and shopping for your Memphis insurance policy is no different. Doing your research and shopping for the least expensive premiums and the most benefits takes work- homework! In order to find the best policy, be it for Memphis car insurance, homeowners or a health insurance policy, you should prepare yourself for the task at hand and learn as much as you can about the product you will be purchasing. Purchasing insurance is not unlike buying anything else such as a car. If you bought a car, you would want to “kick the tires” before spending your hard earned money, so should you kick the tires, so to speak, of an insurance policy.

As stated in a previous article on this blog, Memphis Insurance companies and agents are abundant for no other reason than we all need insurance. Shopping for insurance may seem a bit overwhelming, however, once you roll up your sleeves and get down to work, odds are you will find the policy that is the best fit for you, your family and your budget.

It should be noted that there are fifty one different insurance markets across the nation including the District of Columbia. Different geographical areas bring different risk so doing business with a company in another state may not be in your best interest. Although any company doing business within any given state must be licensed by that state’s Department of Insurance and Commerce, doing business locally is probably the best bet since Memphis Insurance agents are familiar with the area and what is required within the borders of the state of Tennessee.

The number one source of information about the many different insurance policies sold within the state is the Tennessee Department of Insurance. They will have available to the public a wealth information about the various policies that are sold under their jurisdictions. Another source of obtaining the information you require when shopping insurance policies is home office representatives. All insurance companies have representatives in states in which they are licensed to sell policies. Visiting the website of a insurance company should direct you to that state of Tennessee’s representative for their company.

Your local Memphis insurance agent is also a source of excellent information but most people have a mental wall built in when dealing directly with the a person that want to sell them something, insurance is no different. Most insurance agents are professional and are well versed in their profession and will provide all the information you will need to make an informed decision, however, our natural bias toward sales people will make us skeptical and it is best to research on your own until such time you can make an informed decision.

Consumer advocate magazines are another source of information such as Consumer reports. Consumer reports is a nonprofit magazine that does not offer advertising within it’s pages and compares companies on their products and services. Best Insurance Reports is a yearly publication that rates the financial stability of insurance companies and buying a policy from a company that has a poor rating within the publication is not a good idea.

There are many different Memphis insurance agents to choose from and determining which one to purchase a policy from may be a daunting task. But shopping and doing your research will not only help you place the best policy but also give you piece of mind knowing you researched and understand all the benefits of your policy upon purchase.

The insurance agent or broker should have certain attributes that are essential with the top three being knowledgeable, courteous and reliable. Take special care to make sure your chosen Memphis insurance agent is additional educational classes in their area of expertise. In most cases, state licensing laws require that agent and brokers take continuing education classes to stay up to date on the ever changing insurance industry and it’s applicable laws.

As an insurance consumer, you should research agents and brokers just as you would individual insurance policies. By interviewing many different agents or brokers, you are exposing yourself to the many different companies that offer varying degrees of policies and their benefits. By comparing many different agents, both independent and exclusive, you open yourself up to finding the best policy with the least expensive premium, although least expensive should not be the underlying reason for purchasing a policy. After all, we are seeking the best coverage we can obtain within our budgets and this does not mean always by the least expensive policy.

By researching the local is insurance market and taking the time to educate ourselves on the insurance industry, we are increasing the odds of obtaining the best policy and meet our Memphis insurance needs.

Memphis Insurance And Understanding Your Declaration Page

The insurance industry is a mystery to many and most insurance consumers don’t really understand what they own. They get the concept of insurance, but the real nuts and bolts are rarely understood. This is the reason the Memphis Insurance blog was created as a source of easily understood articles which explain how insurance works. In this article, we are going to explain what a declaration page is and what purpose it serves.

The declaration page is usually found on the front of a policy and defines in summary form the terms of the policy and what coverage is included in the policy. The first thing found on the declaration page is the name of the insurance company that is responsible for issuing the policy. Usually this is the name of a nationally recognized company, however, if you are dealing with a local Memphis Insurance company, their name may be in place of the national company.

The next item found on the declaration page is the type of policy. This part of the declaration page tells if the policy is a life, auto, homeowners or some type of health insurance policy such a disability policy. Then the name and address of the policyholder will follow and when the policy will become effective and coverage begins. Because the insured’s name is on the policy, it identifies the policyholder to whom the policy has been issued. It is also very important to know when you policy is in effect in order to avoid a lapse in coverage.

Your declaration page will also indicate the amount of coverage issued by the company. There are a wide variety of policies available and depending on what type the insured has been issued will determine what is in this section of the declaration page. For illustration purposes we will use a Memphis car insurance policy as an example. This kind of policy will reflect the different types of coverage and the amounts. Liability and it’s maximum coverage, property damage, uninsured motorist and comprehensive will all be broken down into their on section outlining type and coverage amounts. Each type of coverage will have it’s own section providing the above details.

There will also be other very important information on the declaration page and we will use a Memphis car insurance policy again as an example. The declaration page will identify individual cars that will be covered by the policy. If it were a Memphis homeowners insurance policy, the address for the property would be shown along with coverage maximums, the deductible if there is one, it’s total amount and the amount of the premium and payment mode.

It should be noted, there is one thing which will not appear on the declarations page and this is exclusions. Exclusions are things that are specifically not covered by the issued policy and it is very important that you, as the insured, should not stop once you have read the declaration page in order to understand your policy and what you have purchased.

There will also be another section in the declaration page which covers endorsements and riders. Many times we already have an insurance policy in force and choose to increase the amount of coverage or add additional protection. Of course these increases in coverage and protection will increase the amount of dollars we pay for coverage, but our lives change as do our needs. In the property and casualty part of the insurance industry, these additional changes or increases in coverage are called endorsements and are referred to as riders in the health and life sections of the industry. All riders and endorsements will be outlined and listed on you declaration page of your insurance policy.

At the bottom of your declaration page you find the signature of the authorized company representative. All insurance policies are contracts and the nature of contract law states that no contract is valid unless signed by someone that is authorized. The declaration page will usually have the signature of a company officer along with your signature making the insurance policy a binding contract.

The declaration page of your insurance policy provides a wealth of information which outlines what you have purchased. It is important however, that you look further into your policy to completely understand your coverage, protection and it the limitations of the policy. Once you receive your policy, set aside time to read the entire policy and if you have questions, please call your local Memphis insurance representative or national company representative for a precise explanation. Insurance professionals are trained to answer your questions and provide you the information you need to be an informed insurance consumer.

Uninsured Motorist And Auto Insurance Memphis

Driving the streets of Memphis many citizens have often found themselves wondering about whether or not other Memphians are insured. In this article we will discuss uninsured motorist and understanding how this part of your Memphis insurance policy works by answering questions such as will you be covered if the other driver doesn’t carry auto insurance Memphis.

If you currently carry uninsured motorist insurance as part of your total auto coverage, the chances are very good that you will be covered for the accident. If you were to ask any local Memphis insurance agent if you should carry uninsured motorist, the answer would be a resounding yes, especially in this city since there are so many uninsured motorist. This is especially true with the current economic situation with most people looking for ways to trim expenses and save money. Unfortunately, insurance is one area where many people look first to cut expenses.

In the state of Tennessee, as a tort state, residents are required to carry a minimum amount of insurance. However, in many states, uninsured motorist within each state have been statically proven to be as high as twenty five percent making it even more important that Memphis area drives carry uninsured motorist coverage.

What Is Uninsured Motorist Coverage?

Generally speaking, uninsured motorist is that part of your policy which will pay for medical expenses for injuries received to both you and your passengers if you are in an accident where the other driver is legally responsible for the crash and is uninsured and in some cases even if they have coverage, they could be underinsured.

A uninsured driver is defined as someone involved in an accident and is responsible for the accident who is not insured; did not meet minimum state requirements for liability insurance. Hit and run drivers, drivers that leave the scene of an accident are consider by most states as uninsured drivers which usually falls under bodily injury.

We should discuss underinsured drivers. Memphis insurance professionals know what the legal limits and requirements for the state of Tennessee so your agent will be able to answer any questions about state minimums. Underinsured drivers are those drivers that meet state requirements but do not have their limits within their policy high enough to pay for damages caused by an accident. It should be noted that most insurance companies consider uninsured motorist and underinsured motorist as two different areas of coverage.

Some states have mandated uninsured motorist as a requirement, however most states do not require uninsured motorist coverage and only require liability coverage. If you as Memphis insurance policy owner, purchase uninsured motorist coverage, your coverage must comply with state mandates but cannot exceed the policy limits outlined by your insurance company.

When purchasing auto insurance Memphis area residents should seriously consider adding uninsured motorist and underinsured motorist coverage. Memphis is a high accident and uninsured motorist city so you want to have the assurance if you were unfortunate enough to have a accident that is the fault of another driver, that you are made whole, just as you were before the accident occurred. By providing yourself with the coverage, you are being both physically and fiscally responsible in lower you risk. What’s more is both uninsured and underinsured motorist protection is realativily inexpensive for the enormous advantage of having the coverage.

If you were unfortunate enough to be in a car accident and you have uninsured coverage, your medical bills will be paid, wages that may have been lost can be replaced and compensation can be given for pain and suffering. Most importantly, if you are involved in an accident with an uninsured motorist, you are covered since many times the responsible party and uninsured motorist seldom has the money to pay out to injured parties.

Memphis area residents know the ongoing joke we hear daily on local Memphis radio stations about Memphis drivers. Unfortunately, there is an element of truth to the joke and should be considered sage advice in areas of Memphis insurance. Having the minimum liability limits if you are a driver is mandated by state law in Tennessee. However, you should give yourself added piece of mind by adding uninsured motorist and underinsured motorist to your auto insurance Memphis policy.

Umbrella Liability Coverage Through Your Local Memphis Insurance Agent

Almost everyone understands the basic concept of insurance and the needs it is used to fill such as protection and risk coverage on property, health and life itself. Auto insurance is probably the most familiar to everyone since most people start driving at an age before they need to understand such insurance coverage as health and homeowners. However, there are lesser known types of insurance policy provided by your local Memphis insurance agent like the umbrella policy.

Umbrella policies are utilized for a variety of reasons but most often, umbrella policies are used as a way to fill gaps in insurance coverage and extend the limits of standard policies once their maximums are reached. A small business owner is an excellent example of someone that would benefit from having this type of policy in place. Most business owners are required to have certain levels of general liability insurance in place to comply with local laws and requirements for operation a business. I fact, most municipalities will not issue a business license until general liability insurance has been purchased and in force.

In many cases, having a standard general liability policy is not enough coverage to protect the interest of the business. In order to extend coverage, business owners often purchase an umbrella policy to fill the gaps often left by general liability policies. Memphis insurance agents council clients on the benefit of owning an umbrella policy and how it can protect them in the event an unfortunate event occurs that could result in devastating effects on their business. In today’s society, litigation ties up the courts and is big business for lawyers and law firms. An umbrella policy in place over and above a general liability insurance can provide the peace of mind a small business owner needs.

Parents of teenage drivers are also excellent candidates for umbrella insurance. Teenage drives are more susceptible to car accidents and place their parents assets at risk should they become involved in an auto accident. Automobile insurance polices have per occurrence minimums which can place parents at risk should liability resulting from a car accident exceed policy maximums. An umbrella policy will takeover once basic automobile insurance ends, giving parents added protection and out of pocket losses.

As with anything financial and involving assets, evaluation of current risk and needs should be considered. A meeting with a financial advisor should be sought first as they are qualified to evaluate financial matters. Once a meeting with a financial advisor is completed, a meeting with you local Memphis insurance provider can determine how to best protect your assets. Standard homeowners, auto insurance and life insurance policies may be enough. However, in the event standard polices do provide enough protection for potential risk incurred, an umbrella policy may be needed to cover the short fall in basic coverage.

Umbrella insurance policies cover claims for accidents or damages that were caused by you or members of your family. An umbrella policy is unique in the sense that benefits will not be paid until the limits of standard liability policies such as homeowners and auto insurance policies max out. We will use an example of a homeowners policy to illustrate how a umbrella policy would be beneficial and provide needed protection. If your homeowners policy with liability provisions of $350,000 and a claim or judgment by the courts for liability exceeded $350,000, the umbrella policy would pay claims once the $350,000 general homeowners policy is exceeded. The umbrella coverage would pay claims up to the amount of the policy limits selected when the policy was purchased, for example,$1,000,000. If a claim were to be made for $750,000 against the insured, the homeowners policy would pay up it’s limits of $350,000 and the umbrella policy would payout the remaining $400,000 of the claim.

When a umbrella policy is purchased, the insured is increasing higher liability limits that they would otherwise receive from their standard coverage. Having an umbrella insurance policy in force can provide the added protection needed to fill gaps over and above your standard insurance coverage providing the security you need. By visiting your local Memphis insurance agent or broker, you can learn more about liability insurance and specifically, umbrella insurance.


If you want to save on car insurance you can do yourself a big favor by talking to as many auto insurance companies as possible. The more options you have for yourself, the better chance you have of one of those options giving you a good price. Year long rates can vary by as much as $1,000. If you haven't yet purchased a car and cant decide what car to get, see what premiums you'll have for each. Generally, the more powerful and expensive the car is, the higher your car insurance costs will be. Furthermore, the more safety features a car has, the less the premium will be. One of the most popular ways to save money on car insurance is by increasing your deductible. Your deductible is how much money you pay out of your own pocket to fix your car before the insurer pays for the rest of the damages. You just don't want to open yourself to too much riskSection 3171 of the Act allows injured policy holders to access the full benefit of their own insurance plan, prohibiting insurance companies from deducting the amount of insurance carried by the negligent driver in the accident. In addition, health insurance companies cannot deny coverage for medical care if medical expense coverage is included in one’s auto insurance. The result being that injured individuals may have access to a greater amount of financial coverage for medical costs due to injuries.“These new laws are extremely important for people injured in car accidents as they can have a big impact on the settlement an injured person may be eligible to receive,” said Steve Eisenberg, Wisconsin personal injury attorney and one of the founders of Eisenberg Law Offices, S.C., of Madison, Wisconsin. “You need a lawyer that understands the new laws and how to maximize your recovery.”The budget also mandates that insurance companies will no longer be able to deny coverage for hit-and-run accidents because physical contact did not occur. This gives injured drivers access to uninsured motorist coverage if they can provide independent, third party evidence of the accident.New minimum coverage amounts have been set for auto liability insurance, requiring that policies must cover “$50,000 because of bodily injury to or death of one person in any one accident and $100,000 because of bodily injury or death of two or more persons in any one accident, and $15,000 because of injury to or destruction of property of others in any one accident.”Other changes include the requirement of all liability policies to include underinsured motorist coverage if at least $100,000 per person and $300,000 per accident. Along with the new insurance mandate is the repeal of a 14-year-old law that banned insured drivers from stacking auto insurance policy limits for uninsured and underinsured motorist coverage.
Eisenberg Law Offices, S.C. provides superior representation in Wisconsin personal injury, criminal defense, family and divorce, drunk driving, and civil litigation cases. They have over 25 years of experience representing injured victims of auto, truck and other vehicle collisions and have won millions for their clients in Wisconsin personal injury cases.


Auto Insurance Quotes step by step in easy and simple steps
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There are more than 1500 cases of road accidents which are reported on a daily basis in the United States itself. Individuals are getting more anxious than ever before on how to safeguard their lives and their expensive cars against such incidents.

Auto insurance is a definite solution to this dilemma. Auto insurance provides us security against the losses, one can incur with an automobile accident. Before enrolling for a policy, it's imperative to have detailed knowledge about the auto insurance rates or quotes.

Auto insurance quotes differ from company to company, which is why it's of paramount importance to carefully review insurance quotes of different providers before selecting the one, which best suits your needs.

As such, gathering auto insurance quotes could be a ruthless task in itself, especially if you have very little knowledge about insurance, or if you have allowed your policy to lapse for a substantial period of time.

There are certain factors which play a pivotal role in determining your auto insurance quotes. Your driving record, gender, marital status, age and the type of vehicle are amongst the contributing factors which are considered by the insurance company while determining your insurance quote.

If you have been convicted for rash driving, or have several speeding tickets issued against you, then some companies may showcase their hesitation in insuring you. Even if you are considered for a policy, you will have to shave off higher premium amount.

Installing high-tech security features in your vehicle is a good idea to consider as insurance companies will get a sense that you are a responsible driver. Also the extent of damage would also be less if good security functions are installed within the vehicle, thus increasing your chances of getting reasonable or satisfactory auto insurance quotes.

Your residential area is another factor taken into consideration while evaluating the quotes. Individuals living in high metropolitan area will have to pay more premium, in comparison to those who live in rural areas as incidents of theft and accidents are high in metropolitan areas.

Another determining factor with insurance quotes is the level of coverage you consider for yourself. If you go for the best coverage with low deductible, then you will have to pay high premium amount. However, you can still end up having the best coverage with low premium if you fix or consider the above mentioned factors before applying for an insurance policy.