Hagerty Insurance announces the creation of Car Club Central, an online resource tool for clubs and their members. Car Club Central is designed to showcase all of the benefits and features that Hagerty offers to car clubs nationwide and to make those benefits more easily available. Car Club Central can help support events by providing products such as bags, pens and magnets. Clubs can also use various downloadable ads to drive people to their events. Articles and tips for building club membership can also be found at Car Club Central. Other benefits include meeting assistance, sample PR pieces, request for an agent ambassador and club liability insurance. “Through daily correspondence with our clients we realized that the majority of them belong to car clubs and are passionate participants,” said Donna Wares, Vice President of Agent Marketing and Channel Development. “With our new Car Club Central, we have created a resource that organizers can utilize in order to … [Read more...] about Hagerty Classic Auto Insurance – Car Club Central
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You wouldn't explain the average cost of buying a Lamborghini to someone who asks you how much he should expect to pay for a Chevy. The same applies to auto insurance. You can spend all day collecting quotes from various insurance companies, either online or directly with an agent, but if you're comparing the equivalent of an Aventador to a Bolt, you're not going to get the accurate answers you're looking for. The key to comparing insurance quotes is making sure that all aspects and provisions of the policies are equal. Do they have the same deductibles?If Insurer A tells you it's going to cost $3,000 a year to insure your vehicle, while Insurer B quotes $900, your natural inclination might be to jump at the $900 offer. Before you sign in haste, make sure you're responsible for the same deductible on each policy - the amount that comes out of your pocket for repairs if your car is damaged. If Insurer B expects you to pay $1,500, while you'd only be responsible for $500 with Insurer A, … [Read more...] about How to compare auto insurance quotes to help save money
Several factors affect that expensive auto insurance premium that has you shaking your head each time the bill comes in. Tweaking any one of them can reduce your payments, and adjusting more than one might result in a marked difference in cost. Don't wait for your agent or insurance company to be forthcoming about the little nips and tucks that lower your premium costs - go online or pick up the phone to ask. Increase your deductibleThe higher the amount of your deductible, the lower your premiums will be. This makes sense because you're assuming some of the responsibility for the damages when something goes wrong. You might swerve into a tree trying to avoid a family of ducks crossing the road and, although the ducks may go happily on their way, you're faced with a $5,000 car repair bill. Your insurer must pay $4,500 of that if you have a $500 deductible, but if you agree to a $1,500 deductible, the company's liability for the accident drops to $3,500. Your grateful insurer will … [Read more...] about Tips for lowering premiums for your auto insurance
The term "full coverage" gets tossed about with some frequency when discussing auto insurance, but it's less a reality than what most drivers actually think they're paying premiums for. According to Allstate, insurers don't offer anything specifically called a full coverage policy, but it typically means you're covered for both liability and property damage. To really insure yourself to the hilt, take advantage of all the protections your insurer offers, and also meet or exceed the highest thresholds of coverage required by your state. Liability coverage is requiredAllstate indicates that liability insurance is required in all 50 states. This coverage is the part of your policy that protects you if you cause damage to others - either property damage or personal injury - because you're at fault in an accident. Each state requires that you carry minimum amounts of coverage for bodily injury per person and bodily injury per accident, as well as for property damage, but the required … [Read more...] about Full coverage auto insurance: what is it really, anyway?
Google might not be selling its autonomous car quite yet, but the search giant is dipping into another major facet of the auto industry in the US with the launch of its Google Compare Auto Insurance website.As previously rumored, the site lets people get car insurance quotes, and Google gets a portion of any sales. At the moment, the service only works for those in California, but the tech company reportedly is cleared to sell in 26 states in the future. The search business has offered a similar tool in the UK since 2012.Google's Compare site offers a simple layout, and it first asks users for their zip code. The tool then asks for further information about a user's address and vehicle. After selecting the desired coverage, the services spits out quotes from 14 insurers. According to TechCrunch, in addition to going to the page directly, searches for "car insurance" in the future should also direct people there as an option.While the Compare site is yet another revenue stream for … [Read more...] about Google officially launches Compare auto insurance tool
You just graduated from college and you’ve decided it’s time. You’re 22 years old and you need your own car. How long will you be bound to these shackles of having to take others’ schedules into consideration? You want your freedom and you want it now. You also want it in the shape of a fire-engine red Mini Cooper. So you’re going to buy a car. By which, of course, I mean that your parents are going to buy a car for you. What’s the first and possibly most important thing that you’re going to need? (Hint: it’s not racing stripes). It’s auto insurance. And boy is it going to cost you. More so because of your age and your, rather expensive, tastes. Auto insurance companies, and insurance companies in general, are master statisticians and they must weigh the costs of having you (someone who enjoys an overly intimate relationship with their accelerator) as a customer. This includes taking into account pretty much … [Read more...] about Road rage, region, the colour red: Factors that affect your auto insurance premium
There is still a lot of work to be done on the autonomous driving front, as a handful of automakers steadily work the bugs out of their self-driving cars. Thus far, the results have been modestly successful, but there have been some hang-ups along the way. One big question as cars become autonomous—yes, it will happen at some point—is how it affects the insurance industry.When asked on CNBC's Squawk Box about the impact of self-driving cars on the insurance industry, billionaire Warren Buffett said there's no question that it will be great. "Anything that makes cars safer is very pro-social, and it's bad for the auto insurance industry. But nevertheless, the auto industry has always worked on making cars safer. They've led the way on seatbelts and all that. But if there are no accidents, there's no need for insurance."In 40 years, when all cars are theoretically self-driving, the automotive insurance industry will probably look much different, but it's very likely to … [Read more...] about Warren Buffett Says Automated Cars will Forever Change Auto Insurance
California’s insurance regulators have launched an investigation into Wells Fargo following the bank’s confession that it forced hundreds of thousands of auto loan borrowers to pay for insurance policies they didn’t need and, in many cases, were unaware of.There’s also a congressional investigation underway, where U.S. senators are asking the company basic questions like who was affected, how broadly, whether they get a refund, and why the hell this occurred in the first place.Unlike JPMorgan Chase or Bank of America, Wells Fargo’s auto loan contracts allowed the lender to obtain collateral protection insurance on a customer’s behalf if they failed to buy liability coverage themselves — or if the bank assumed they hadn’t. It’s not common practice and, when it causes paying customers to default and have their vehicle repossessed, it’s not difficult to see why. Samir Hanef, a longterm customer of Wells Fargo, … [Read more...] about Wells Fargo Under Intense Investigation Following Auto Insurance Scandal
To quote Nobel Prize winner Bob Dylan, “You don’t need a weatherman to know which way the wind blows.”You certainly don’t need TTAC to tell you auto insurance premiums are on the rise. You already know rates are trending up, well in excess of inflation. Nonetheless, let’s unpack some of the factors that have the average American now spending more than $100 per month on auto insurance.First, let’s verify our experience with some facts. According to the Bureau of Labor Statistics, the average auto insurance premium per passenger vehicle in the United States increased 16.8 percent between 2009 and 2013, against consumer inflation of 8.6 percent over the same period. Based on data from AAA, the average American spent $1,222 in auto insurance premiums last year, which is consistent with research findings from Consumer Reports and the National Association of Insurance Commissioners.The five largest auto insurers, State Farm, Geico, Allstate, Progressive, … [Read more...] about With Premiums on the Rise, What’s the Truth about Auto Insurance?
Shopping around for an auto insurance policy? Google has a comparison tool that might just help you find what you seek.TechCrunch reports the tool, Google Compare for Auto Insurance, allows consumers to compare rates either directly through the tool or via a questionnaire that pops up upon entering the words “car insurance” in Google’s search engine. Either method asks for the consumer’s zip code and information about their car, then compares up to 14 quotes from Google’s insurance partners like Mercury Insurance, MetLife and Stillwater Insurance Group; insurance giants like Progressive, State Farm and GEICO have declined to work with the tech giant on this project thus far.Said partners become involved through a flexible cost-per-acquisition scheme, with Google adding that partner ranking and eligibility aren’t based on payment. The tech giant says its partners can use the service to set themselves apart from the others by mentioning what features … [Read more...] about Google Introduces Comparison Tool For Auto Insurance