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Auto Insurance Discounts

Las Vegas Auto Insurance Discounts

Below is a list of discounts commonly seen in Auto Insurance Policies.

  • Auto/Homeowners Discount – A discount on your Auto Policy may be applied if the person named on the auto policy, or their spouse, is also the person named on a Homeowners or Renters Policy.
  • Two or More Automobile Discount – The Two or More Car Discount shall be applied to two or more private passenger automobiles which are kept at the same location and owned (or leased on a long term basis) by:
    • An individual or husband and wife or a parent, grandparent, son, daughter, son-in-law, daughter-in-law, brother, sister or grandchild of either who is a resident of the same household.
    • A corporation, partnership, or association if the automobile is not rated for business use.
  • Affinity Discount – This discount may be available for insureds who are members of an “eligible” group and meet other specified criteria.
  • Electronic Funds Transfer (EFT) – This discount may be available to customers who enroll in automatic checking withdrawal billing system.
  • Farmers and Ranchers Occupational Discount – Automobiles, including farm trucks not exceeding one ton, shall be entitled to the “Farm Discount” or the “Farmers Occupational Rates” provided: The named Insured is the owner, tenant, or permanent resident of the farm or ranch premises, and; The automobile is principally garaged on a farm or ranch, and; The automobile is not customarily used in driving to and from work other than farming, or in driving to or from school, and; The automobile is not customarily involved in nor required for any occupation other than farming.
  • Good Student Discount – All single owners and operators under 25 years of age, whose use of the automobile affects the rates charged, must be full-time students in high school, or enrolled as full-time students in academic courses in a college or university. Each student must be in the upper 20% of the academic standing of his or her class, have a grade average of “B” or its equivalent, in schools that maintain a system referred to as a “Dean’s List”, Honor Roll”, or comparable designation, the student shall have attained such designation of academic standing.
  • Senior Defensive Driver Discount – To qualify for this discount in most cases the principal operator must be at least 65 years of age or, in some states, 55 years of age and have successfully completed a Driver’s Education course approved by the Department of Motor Vehicles. A certificate of completion from the approved agency must be furnished to the company.
  • Anti-Lock Brake Discount – To qualify, the automobile must be equipped with a factory-installed Anti-lock braking system on all 4 wheels.
  • Passive Restraint Discount – The discount is available on Medical coverage. To qualify, the automobile must be equipped with a factory-installed air bag or other passive restraint system that meets Federal Safety Standards.

Call Macquel at 702.477.7776 for more information on Las Vegas Auto Insurance discounts.

Micah Bleecher No Comments

Car Accident Tips – Auto Insurance FAQ

So You’ve Had an Automobile Accident:  What’s Next?

Driving on America ’s highways can be a risky proposition.  Whenever you’re in a vehicle, there’s a chance you’ll be involved in a traffic accident.  Whether it’s a small fender bender or a major injury accident, knowing in advance what to do can help you avoid costly mistakes.  This guide discusses what to do after an accident and what to expect when you file an automobile insurance claim with your insurance company.  For your convenience, an accident checklist is contained herein which can be kept in your vehicle for future reference.

When purchasing car insurance, carefully review the application before signing it to be certain that the coverages, policy limits, and deductibles suit your needs.  After you receive the policy, review the declaration page.  It contains important information on who is covered, the vehicles insured, as well as the coverage limits and deductibles. Make sure the information is correct and the coverage is what you purchased.   If changes are needed, send your request to your agent and/or insurance company in writing and keep a copy.  Use certified mail/return receipt requested to verify receipt of your letter.

Become familiar with your automobile insurance policy before it’s needed. Read the policy thoroughly so you know what is covered and what is excluded.

Some of the most frequently asked questions about automobile insurance claims are discussed below:

What to Do If There Is an Accident

Q.  What Should I Do at the Scene of an Accident?

A.  Immediately stop at the scene.

  • Call 911 if there are injuries.
  • Call the police. In some areas police authorities may not come to every accident scene.   They may consider factors such as the severity and location of the accident (e.g., some police authorities will not come to the scene if the accident is on private property).  However, you should attempt to notify the police.  You should also be aware that most policies require notification of police within a specified time period if the accident is a hit and run.  Obtain names, addresses, telephone numbers, and driver’s license numbers from all drivers.
  • Obtain license plate(s) and vehicle identification numbers.  Ask to see driver’s license(s) and vehicle registration(s) to verify that the information is accurate.
  • Obtain names, addresses, and telephone numbers of other passengers and any witnesses.
  • If you have a camera, take photographs of the damage, the position of the cars, and the accident scene (e.g., traffic controls, visual obstacles).
  • If the owner of a damaged car or damaged property cannot be located, leave a note with the names and addresses of the driver and owners of the involved cars.
  • Notify your agent and/or your insurance company immediately.
  • If anyone is injured or the vehicle damage exceeds $750.00, you must report the accident to the Department of Motor Vehicles within 10 days.  Failure to notify the DMV may result in the suspension of your driver’s license.

Things to Avoid at the Scene of an Accident

  • Do not argue with other drivers and passengers. Save your story for the police and your insurance company.
  • Do not sign statements regarding fault or promises to pay for damage.
  • If another party offers to pay your deductible, don’t sign anything releasing him or her from further responsibility.  By releasing the other party, you jeopardize your insurance company’s subrogation right, and the company may refuse to pay for damage to your car.

Frequently Asked Questions

Q.  What Happens After I File the Claim with My Insurance Company?

A.  Your insurance company will contact you for additional information, such as a detailed account of the facts, or a written or recorded statement.  An examination under oath may be requested.  As part of the investigation, other drivers and witnesses may be contacted. If you have medical payments or an uninsured motorist claim, you must provide documentation of your injuries, medical expenses, lost wages, etc.

Q.  What Should I Do If the Insurance Company Does Not Contact Me?

A.  A claim representative should contact you within a reasonable period, usually 24-72 hours after you report the loss.  If you do not hear from anyone, call your agent or insurance company for assistance.  If they are not responsive, or you believe there is an unreasonable delay in settling your claim, contact the Department of Insurance.

Q.  How Does the Insurance Company Evaluate Vehicle Damage?

A.  An adjuster or appraiser usually inspects the vehicle.  Do not authorize repairs until the adjuster has inspected the vehicle and you are satisfied with the scope of repairs and the repair facility.  If the damage is relatively minor, the company may ask you to submit competitive repair estimates.

Q.  What Will the Company Pay on a Physical Damage Claim Under a Standard Auto Policy?

A.  Generally, the company will pay the lesser of
The amount necessary to repair the vehicle or
The actual cash value (ACV) of the vehicle.
Read your policy to be certain of what is and isn’t covered.  Pay particular attention to exclusions. For example, there is usually no coverage for stereo equipment, a telephone, or a citizens band radio unless the equipment was permanently installed by the automobile manufacturer in the normal opening in the dash or console.  Coverage is usually available for such special equipment for an extra premium charge.

Q.  What Is Actual Cash Value (ACV)?

A.  Actual cash value means the fair market value of your car before the accident.  This is the price that a willing buyer would pay a willing seller, neither under pressure to buy or sell.

Your company may survey dealers, value guide books, and private parties for a similar vehicle to approximate the ACV.  A computerized market analysis system might also be used.

If you do not agree with your company’s figure for ACV, you may want to do your own survey of dealers and private party sellers in your area.  Companies are required to offer a fair settlement.  If you can show that your figure more closely approximates the ACV, your company should be willing to negotiate.  Your policy may also contain an appraisal provision.

Q.  What Is an Appraisal Provision?

A.  Most standard policies contain an appraisal provision which can be helpful in the event that you do not agree with your company on the amount of loss.  Read your policy to see if it contains one. Under this provision either of you can demand an appraisal.  Each party selects a competent appraiser.  The appraisers then select an umpire.  If the appraisers cannot agree on the amount of loss, their differences are submitted to the umpire.   An amount that any two agree upon is binding.  Each party pays its appraiser; the umpire fee is shared.

Q.  How Is the Check or Draft Prepared?

A.  The check may be made payable to the insured and any lienholder, such as a bank or finance company.  If the vehicle is repaired, the company may also include the repair facility as a payee.

Q.  Who Is Responsible for the Balance of a Car Loan?

A.  The borrower is responsible for the balance of the loan, even if the vehicle is stolen or damaged beyond repair.   If your claim payment is less than the loan balance, the lender will expect you to pay the difference.  Coverage commonly referred to as “gap” insurance can usually be purchased to protect against this situation.

Q.  Will the Company Pay for a Rental Car While Mine Is Being Repaired?

A.  Yes, if you have purchased rental vehicle coverage.  Review your policy before you rent a vehicle. Although policy limits vary, the company pays up to a specified amount per day for a specified number of days.  The coverage ends when your vehicle is repaired, the loss is paid, or after the specified period, whichever comes first.

If your vehicle is stolen, the policy may automatically provide transportation expenses. Again, review your policy to be sure.  This type of coverage usually begins 48 hours after the theft and ends when your vehicle is recovered, the loss is paid or after a specified period, whichever comes first.

Q.  What Is a Collision Damage Waiver and Will the Company Pay These Charges for the Rental Vehicle?

A.  The terms of the rental agreement make the customer responsible for collision damage while he or she has possession of the vehicle.  Additionally, rental companies insure themselves for damage  to the vehicle caused by collision.  For an additional fee, the rental company will waive all or a portion of the customer’s obligation to pay repair costs for damage to the vehicle caused by collision.  Both the amount of the fee and the language of the waiver vary.

Coverage for collision damage to the rental car under your  personal automobile policy depends upon the policy language.  Read your policy carefully.  Ask your agent or company before you rent a vehicle.

Q.  What Is the Salvage Value?

A.  This is the remaining value of your damaged vehicle if your vehicle is determined to be a total loss.  It is usually determined through bids from salvage buyers.  The company may sell the salvage to the highest bidder.  However, it is not obligated to do so. If you decide to keep the damaged vehicle, the highest salvage bid may be deducted from your settlement.   In effect, you are “buying back” your vehicle for the salvage value.   If you retain possession of the salvaged vehicle, it is your responsibility to file a salvage certificate with the Department of Motor Vehicles.

Q.  What Is Subrogation?

A.  Subrogation is the right of the insurance company to recover from a third party the amount of damages it paid to you.   For example, if another party is at fault in an accident that damages your car, and you have a collision claim, your company will ask the other party to reimburse the money it paid on your claim.  The policy requires your cooperation with the company’s subrogation efforts.  Also, you cannot do anything that jeopardizes the company’s right of recovery.  For example, you cannot sign an agreement releasing the other party in exchange for payment of your deductible.

Q.  Is the Company Required to Help Me Recover My Deductible?

A.  Yes and no. The insurance company must advise you as to whether or not they intend to pursue subrogation.  If the company pursues subrogation, they are required to include your deductible as a part of the process.  However, if the company does not pursue subrogation they are required to advise you of that fact so that you may pursue your deductible on your own.  If their efforts are successful, in whole or in part, the company will reimburse you in accordance with the recovery.  For example, if 100 percent of the paid claim is recovered, you will receive 100 percent of your deductible; if the recovery is 65 percent, you will receive 65 percent of your deductible.  Any expenses or fees (e.g., legal fees, incurred by the company in its recovery efforts) will be apportioned between the company and you, if recovery is made.  However, if you choose not to have the company include your deductible in its efforts, you can seek recovery directly from the other party on your own.  But before you do, discuss the matter with your company to avoid jeopardizing its recovery.

Q.  Is the Car Covered Outside of America?

A.  Most policies provide coverage in other states, U.S. territories and possessions, and Canada. Most states and territories have enacted financial responsibility laws requiring drivers to carry a specified amount of automobile insurance to cover losses resulting from ownership or operation of a motor vehicle.  If the financial responsibility requirements where you are traveling are higher than your policy limits, your company will meet the higher requirements.  Most policies do not provide coverage in Mexico, so if you plan to drive your car there, it’s wise to buy that coverage separately.  Check your out-of-state coverage before you travel. 

Q.  What Should Be Done If a Lawsuit (Summons and Complaint)Arises Out of an Accident?

A.  Notify your agent and car insurance company immediately.  Keep a copy for yourself and mail or deliver the original documents to your company.  Do not give statements or discuss the accident with anyone except a verified representative of your company.  If the lawsuit arises out of a covered loss, your company will provide legal defense.

Q.  Is a Newly Acquired Vehicle Covered?

A.  Most policies provide 30 days automatic coverage for a vehicle that replaces a vehicle already on your policy.   The coverage normally is the same coverage you had on your previous vehicle.   Notify your broker-agent as soon as possible of any replacement vehicle. If you wish additional coverage, there is usually a requirement that you notify your agent or your company within a designated time period.

Most policies also provide automatic coverage for a newly acquired vehicle that is an addition to the vehicles you already have on your policy.  There are usually specific conditions that must be met. For example, the purchased vehicle must be reported to your agent or company within a designated time period (e.g., 30 days) or there may be a requirement that in order for coverage to automatically apply, all of your other owned vehicles must be insured with the company.

Important Tips

    1. Read your policy. Don’t wait until after an accident.
    2. If you don’t understand your policy, ask your agent and/or company for clarification.
    3. If you have an accident, call the police.
    4. If there are injuries, call the paramedics.
    5. Get as much information as possible at the accident scene to furnish to your agent and/or insurance company.
    6. Immediately notify your agent and/or insurance company of an accident.
    7. Cooperate with the insurance adjusters/investigators to aid in their efforts.
    8. If you don’t understand something about the claims procedure (e.g., amount of settlement offer), ask your agent and/or insurance company representative to explain.
    9. Notify your agent or company in writing of any change in your vehicle ownership.

Your Rights Under the Fair Claims Settlement Practices Regulations

In general, insurance companies are required to do the following:

  • Advise you of all benefits, coverage, time limits, or other provisions of your insurance policy.
  • Acknowledge claim, start investigation, provide forms and instructions, and provide reasonable assistance immediately, but in no event later than 15 days after receiving notice of claim. (Notice of claim is any written or oral communication to the insurance company which reasonably apprises the insurer that you wish to make a claim.)
  • Respond to communications received from you immediately, but in no event later than 15 days.
  • Accept or deny the claim immediately, but in no event later than 40 days after receiving proof of claim. (Proof of claim is documentation in your possession which provides any evidence of the claim and supports the magnitude or the amount of the loss such as estimates of repair or police report indicating theft of your vehicle, etc.)
  • Unless the insurer has provided you with the name of a specific towing company prior to your using a towing facility, the insurer must pay reasonable towing expenses.
  • Offer a fair settlement.  If you suffered a total loss, settlement must include taxes, license and transfer fees.  The settlement must reflect the value of a comparable deductions from the settlement for salvage must be fair, measurable, and discernible.
  • Once the claim has been accepted, the insurer must pay the claim immediately, but in no event later than 30 days from the date settlement was reached.
  • Advise you whether or not they will pursue subrogation.  If the insurance company pursues subrogation, they must include your deductible unless you have already recovered your deductible.

The above represents a paraphrased brief overview of some of the Fair Claims Settlement.

Automobile Insurance Fraud

Red Flags
Automobile insurance fraud in the U.S. historically has  taken several forms.   The most common fraud schemes involve automobile property and automobile accidents.

Automobile Property – This type of fraud most often involves dishonest auto body and repair shops and/or insureds who may employ a variety of illegal or questionable techniques including:

  • Reporting parts of vehicles as damaged or lost when in fact they were not damaged or lost prior to the shop receiving the vehicle.
  • Making final cost in excess of the original estimate of damage.
  • Billing for repairs that were not authorized.
  • Charging for genuine parts when aftermarket or used parts from a junkyard were used.
  • Pounding out dents or using bondo when charging for brand new auto parts.
  • Falsely reporting stolen vehicles or vandalism of vehicles in order to collect insurance monies.

It is always important for the consumer to review carefully all paper work from auto body and repair shops in order to protect against potential fraud.  Also, consumers should be cautious of any auto body or repair facility that makes referrals to medical or legal offices. This practice may be an indicator of “capping.” Capping (a felony in most of the U.S.) is the illegal referral of clients to legal offices for a fee.

Automobile Accidents – Automobile fraud often involves organized auto accident rings. Staged auto accidents, which are not accidents at all, follow several basic schemes including:

  • Suddenly stopping for no apparent reason
  • Intentionally disregarding the right-of-way
  • Giving up the right-of-way in order to cause an accident
  • Claims report list passengers who were not in the vehicle at the time of the accident
  • Witnesses are listed who were not at the scene of the accident
  • Injuries claimed are excessive compared to vehicle damage
  • Driver has a temporary vehicle registration
  • Prior damage to the other vehicle
  • Contact by an attorney without being solicited

If you have been in an auto accident, be cautious of any unsolicited referral to a body shop, law office or medical office.  Organized accident rings and cappers actively solicit others in the community to participate in the creation of accidents.  Often these accidents only exist on paper (referred to as paper accidents), and no innocent parties are involved.  Paper accidents have gained in popularity among fraud perpetrators, as they are less dangerous from a bodily injury standpoint, and there is less likelihood of police involvement.

Auto Body Repair Shops

Under California Insurance Code §758.5, for example, an insurance company cannot require that an automobile be repaired at a specific repair shop.   However, an insurance company can recommend that an automobile be repaired at a specific repair shop under the following conditions outlined by law:

  • The consumer specifically requests a recommendation from the insurance company to a repair shop.
  • The consumer has been informed in writing of the right to select a repair shop of his or her choice.
  • If the consumer agrees to use the recommended repair shop, the insurance company must restore the damaged vehicle to its condition prior to the accident or loss with no additional cost other than as stated in the policy or as otherwise allowed by law.
  • If the company makes an oral recommendation to a repair shop, and it is accepted by the consumer, then the company must follow the oral recommendation with the prescribed written notice within five calendar days as specified by law.

If the vehicle is repaired in a shop chosen by the consumer, then the insurance company must pay the reasonable costs to repair the vehicle in a workmanlike manner.  The insurance company is prohibited from limiting or discounting reasonable repair costs based on charges that would have occurred if the vehicle had been repaired at the company’s recommended repair shop.  Also, the car insurance company must stand behind the repairs of the recommended shop if the vehicle is not repaired properly.

Auto Replacement Parts

In some cases an auto repair may include replacement of damaged parts with after-market parts.  After-market parts are parts which are not made by the original manufacturer.  After-market parts may be equal, better, or worse in quality than original equipment manufacturer parts.  Consumers should take note of the following:

  • An auto repair shop is required to provide a written repair estimate of the cost of repairs prior to initiating repairs to the vehicle.  Once the work is completed, the shop must then provide a written repair invoice.  State law requires that the type of auto parts used in repairs must be identified on the repair invoice.  Consumers should carefully check their invoice to ensure that the auto body shop has identified each auto part replaced as being used, reconditioned, rebuilt, an original  equipment manufacturer part, or an after-market part.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

Factors That Affect Your Auto Insurance Premium and How to Lower It

There are many factors that affect your auto insurance premium. Each is a statistically based risk for a specific population. The higher the risk associated with a person, the more he or she is likely to pay for coverage. We have elaborated on some of the risk factors below, but there are numerous others, including driver’s gender, miles driven per year, purpose for using the vehicle (commuting to work, using for work, leisure only), etc.

Factors you cannot easily change that affect your car insurance rates:

  • Your Age
    Statistically, drivers under the age of 25 are at greater risk of being in an accident than those over age 25. Drivers between the ages of 50 and 65 generally have the safest records.
  • Your Gender
    Women are statistically safer drivers (sorry guys).
  • Your Marital Status
    A married person will pay less than a single person with an identical driving record.

Factors you CAN change that affect your car insurance rates

  • Your Location
    Where you live and work makes a difference. Folks living in certain areas with little or no traffic are likely to spend less on car insurance than those living in congested cities or suburbs because areas with a lot of traffic tend to see more accidents. Some neighborhoods also have a higher rate of vehicle thefts, which can result in a higher premium.
  • Your Driving Violations
    Having an accident or moving violations on your record (speeding tickets, DWI, reckless driving, etc.) put you at a higher risk for accidents and will likely mean a higher premium. insurance companies will penalize you for your record for as many as five years from when the incident occurred. However, keep in mind, as your record improves, your premium will get lower.
  • Your Vehicle Type
    A cheap car will cost less to insure than that status symbol SUV sitting on 24″ rims.
  • Your Accident Claims
    A driving record that is clean and free of accidents will hold fare better for you than lots of tickets and/or accidents.
  • Your Credit History
    Many car insurance companies view having a poor, or even no credit history as suggestive of higher risk and thus, charge you a higher premium.
  • Your Occupation
    Insurers have statistically found a correlation between your occupation and risk of filing claims. For instance, a newspaper delivery person is most likely a higher risk than the personal banker sitting at their desk all day.

Other factors that help determine car insurance premiums:

  • Driving distance to work
  • Miles driven annually
  • Years of driving experience
  • Rather or not you have taken safe driving courses
  • Business use of the vehicle
  • Whether or not you currently have car insurance
  • Theft protection devices (often results in discounts)
  • Multiple cars and drivers (another opportunity for discounts)

What can I do right now to make sure I have the car insurance lowest premium?

Shop around and compare car insurance insurance quotes from different insurers. They base their premiums on their claims experiences, which naturally differ. One company may see your area as a higher risk than others may. Another may charge more because of your occupation.

Where do I go for quotes?

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

More Las Vegas Car Insurance Buying Tips

Consolidate Insurance Policies

Insuring two or more vehicles with the same car insurance company can save you between 10 – 15% on your premiums.   Covering your home through the same company that you have auto insurance with can reduce your premiums by another 10-15%.

Increase Your Deductible

One rule of thumb is to carry the highest deductible you can afford. By increasing your deductible from $100 to $1,000, you could save up to 25%. Keep in mind, though, that your lender might not agree to a higher deductible.

Install Anti-Theft  And Safety Devices

Installing a vehicle recovery system such as Lo-Jack or Teletracer could save you up to 7-10% per year.  There are other relatively  inexpensive anti-theft devices such as “The Club”, which locks the steering wheel in place, as well as having your Vehicle Identification Number (VIN) etched on each window.

Safety features such as air bags, traction control and anti-lock braking systems (ABS) are viewed positively by insurance companies which, in turn, is reflected in your premiums. Although these systems may not reduce injury during an accident, they will reduce your premiums.

Clean Driving Record And Safety Courses

While traffic tickets and auto accidents will increase your premiums, most car insurance companies offer discounts to drivers with clean records. Also, some insurance companies will offer a discount if you attend a Driver Training School Program, and your employer might even pay the cost if you use a company vehicle for your job. Training school discounts may vary between 7-10%.

Reduce Coverage On Older Vehicles

If you have an older car worth between $1,000 – $2,000, you might be better off dropping the collision coverage. Check to see if your collision premium is more than the value of the car.

Non-Smoker Or Early Retiree Discounts

Yes, some companies provide discounts for Non-smokers and Early Retirees.   Insurers consider smoking a dangerous driving activity.

Park In A Garage

Sometimes the difference between getting auto insurance and going uninsured is where you keep your vehicle at night. Most thefts do not involve a garaged car and this is reflected in premium discounts. If you have a winter home with no garage, try putting the vehicle in storage. Let your insurance company know that your car is in storage, and you could receive a partial premium reduction.

Carpool With A Co-Worker

Most insurers surcharge premiums if the commute to work exceeds 3 miles. Carpooling with a co-worker may result in a discount for low-mileage use.

Drive A Conservative Car

Before buying a car you might want to find out how much your car insurance will cost annually.  Insurance companies consider certain cars easily damaged and expensive to repair, and other cars the target of thieves.    You could end up paying a premium surcharge between 10 – 20%. The National Highway Traffic Safety Administration (NHTSA) has established the Auto Safety Hotline at 1-800-424-9393 to report safety defects or to obtain information on cars, trucks, child seats, highway or traffic safety.  The Insurance Institute for Highway Safety provides information on death rates by car make and model as well as the standard safety equipment available.  The Institute can be reached at 703-247-1500.

Teenage And College Bound Drivers

You may want to consider letting your teenager drive the family car instead of buying his/her own vehicle. This will very likely lower your cost to cover them. Students in school and living away from home can reduce their premiums by 30 – 50%, depending on the insurer.

Conclusion

After reviewing all of the savings tips, you may have determined that if you added up all your credits you could receive a 70 – 90% reduction in your premium. Well, unfortunately it doesn’t work like that. Certain measures that you take may qualify you for being placed with the “preferred” company of a particular insurance group. This “preferred” company will be able to give you additional premium credits.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

Tips for Buying Cheaper Car Insurance

6 Tips to Buy Cheaper Car Insurance

With the rising costs of car insurance for most American families, there are more and more people searching for cheaper car insurance. Although it is certainly possible to get cheap car insurance quotes, let the buyer beware. The old adage “you get what you pay for” is as true in buying car insurance as it is in the retail world.

Not all car insurance companies are not created equal. Cheap car insurance is wonderful when you pay your premiums each month, but can be an utter nightmare when you find that your cheap, cut-rate car insurance fights you rather than work with you to settle an insurance claim.

If you have already found a discount car insurance company don’t just take the cheapest quote that you get just because it is the cheapest. You need to research the insurance companies offering those cheap car insurance rates.

You can reduce the cost of your car insurance, with cheap insurance providers and even with the best of companies. Here are some simple tips for anyone wanting cheap car insurance without compromising their coverage.

Cheaper Car Insurance – 6 Tips to Save Money

  1. The type of car you drive. Some cars have higher car insurance rates. Sports cars, SUVs and high theft candidates cost more to insure. If you are buying a car, find out which makes and models these are before you purchase. Read more information about which cars are the cheapest to insure.
  2. Security systems and anti-theft devices. These affect your risk profile positively. Safer cars less at risk of theft are cheaper to insure. Ensure your insurance company is aware of any installed safety devices in your car, if they are not tell them.
  3. Become a safer driver. Your car insurance cost is a factor of your risk profile. You won’t qualify for cheap car insurance if you have had 3 speeding fines and 2 accidents in the previous year. These incidents are taken into account. And it all adds up onto your bill. Big safe driver discounts are available to those who qualify.
  4. Your deductible is the amount that you pay first out of any claim. The policy’s cost is directly related to your deductible. Many people, especially those who have had their insurance policy for a long time, have never considered varying their deductible. If you have a clean driving record and are prepared for the risk of paying a larger amount in the event of a claim you can save money by increasing your deductible.
  5. Consider other insurance companies. Many insurers offer a discount for multiple policies. For example, insuring your house and car with the same company may qualify you for loyalty discounts that they offer.
  6. Look at your policy when it comes to renewal time, don’t just pay. Often there is coverage which duplicates other insurance that you may, these can be eliminated. Look carefully and ask questions about each of these before renewing your policy.

As you can see, if you are in the market for cheap car insurance that there are many ways you can get a better deal. Do not just accept that car insurance is always expensive as a fact, get out there and do something to improve your current rates.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

How to Find Car Insurance Discounts

Saving money wherever you can is important to us all. Car Insurance should be no different. Do not assume that your insurance agent knows everything about you and your car. At Bleecher Insurance Advisors we go out of our way to find all the possible car insurance discounts that are available to each customer.

Drivers should take advantage of all discounts that many providers offer, that can significantly reduce the cost of car insurance. Understanding discounts and how they can affect car insurance premiums can help smart shoppers make better decisions about their coverage and possibly save themselves some money in the process.

Read below to identify possible discounts that could help you save money on car insurance this year. Other than discounts, there may be some other ways for you to save on your insurance premiums. We will go over several discounts that can help with your current situation.

First, there are discounts for Car Safety features. Certain states will give you discounts for anti-lock breaks. Make sure you know if it is two or four wheel anti-lock break vehicle. Automatic seatbelts and airbags are frequently discounted on your car insurance premiums. In most states, a defensive driver class discount may apply. If the principal driver usually 55 years old or older has completed an approved defensive driving class a discount could apply. Keep in mind that most states will only approve this class if it is voluntary meaning that it was not the result of a violation or infraction.

Some insurers will give you a discount for having multiple cars. In some cases, this will only apply if you have two or more drivers. If you have a clean driving record, meaning you do not have any tickets, accidents or suspensions in the last three years (some companies require five years) then you could be eligible for a safe driver’s discount.

Many insurance companies will reward you with staying with the same insurance company for many years without any accidents reported. They will offer you a renewal discount. It makes sense, you have carried insurance with a company for several years, and have not had an accident, your insurance company likes you and wants to reward and keep your business. Some companies honor you with a discount if you had prior limits on your previous policy. They discount you because they understand you are a better risk.

Conversely, if you do decided to change insurers a proof of prior insurance discount may apply. Most insurers request at least 6 months of consecutive insurance from the previous insurer. If you are a full-time student who meets certain grade requirements and are unmarried and usually under 25 years of age (some states the age is 21) you could be eligible for a good student discount. If you own a home, including condominium, town home, or mobile home, which is used as a principal residence, a discount could apply. Military personnel either currently active or retired from any branch of the US military a discount could apply. If your vehicle is equipped with an anti-theft device, a discount could apply.

You could lower the cost of your car insurance in other ways as well.

For people who own older cars, it may not be necessary or cost-effective to protect them with collision and comprehensive coverage. By comparing the book value of your vehicle and the premium that the insurer has offered, you may find that it cost as much for the insurance as it does for the vehicle. If the car is worth less than $2,000, you will probably spend more insuring it than it is worth. The whole idea of driving an older car is to save money, so why not get what is coming to you.

In addition, keep in mind that the type of vehicle you buy could greatly affect your premium. A flashy red sports car is usually going to cost more to insure than a mid sized sedan. This is also true of vehicles that are on the list of most stolen. There are many ways that policyholders can save on their insurance. Knowing more about auto policies and premiums can help consumers take advantage of less obvious discounts while ensuring that they have the appropriate protection for their vehicles. The last way to save is to assume more risk. If you chose higher deductible on your Personal Injury Protection or Comprehensive and collision coverage will lower your premium as well. The deductible is the amount of money you have to pay before your insurance company begins paying the rest.

Understanding how discounts affect your car insurance rates is important to save you money.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

How Does Credit History Affect Car Insurance Rates?

Many personal car insurance companies consider your credit information when determining how much premium to charge for your insurance. So if you are calling around for new car insurance, keep in mind that many insurers are looking at your credit history to determine your car insurance rates. I hope that we will be able to let you know why and how they do this.

The reason that some insurance companies use credit information is because they feel there is a direct correlation between consumer’s credit history behaviors and expected claims that may occur. Therefore, they feel that people with better credit behavior are less likely to severe insurance losses.

Many insurance companies still use your age, driving history, type of vehicle, where you live in determining how much you should pay for your insurance. Therefore, if you have not established a credit history yet, the companies that use credit history may not be best for you. They may not allow you to be eligible for certain discounts, which could result in higher premiums.

The companies that do use credit scoring will still use other factors in determining your premium. They will also use your age, driving history, type of vehicle, where you live in determining how much you should pay for your insurance.

Is it fair for a car insurance company even look at my credit information without my permission? The answer is yes. The Federal Fair credit-reporting act says “Reasonable procedures. It is the purpose of this title to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this title.” This can be found at http://www.ftc.gov/os/statutes/fcra.htm

If you feel that your credit history is better then the insurer can find, make sure the insurer has your correct name, address, social security number, and date of birth.

Some insurance companies will look directly at your actual credit reports when determining your rate, however most will use what is called an “insurance credit score.” An insurance credit score is developed by using statistical techniques and methods to predict the likelihood a consumer will have a higher than anticipated losses. These are similar to what lenders use to predict the reliability of an applicant repaying a loan.

Credit History Factors and Car Insurance Rates

Insurance companies use many factors in determining your credit score. Here are some examples of those factors:

  • Public records: bankruptcy, collections, foreclosures, liens, charge-offs, etc.
  • Past payment history: the number and frequency of late payments and the days between the due date and late payment date.
  • Length of credit history: the amount of time you have been in the credit system.
  • Inquiries for credit: the number of times you have recently applied for new credit, including mortgage loans, utility accounts, and credit card accounts.
  • Number of open lines of credit: the number of credit cards, whether you use them or not.
  • Type of credit in use: major credit cards, store credit cards, finance company loans, etc.
  • Unused credit: how much you owe compared to how much credit is available to you.

Your insurance credit score may differ from company to company, as they will use different factors in determining your premium. Notice that we call it an insurance credit score. This means that it encompasses many factors including credit.

Since each car insurance company uses different techniques to determine your credit score it is hard to tell you what a good credit score is. Usually a good credit score will result in lower premiums.

Your agent or company is not obligated to tell you your credit score. In fact, they might not even know what it is. All they usually know is that your credit score qualifies you for a specific rate or policy. Some companies also offer better rates under each qualifying tier.

If you feel that there is incorrect information on your credit report, you should tell the credit bureau. If you report and error, the credit bureau must investigate the error and get back to you within 30 days. You can ask the credit bureau to send a notice of the correction to any creditor or insurer that has checked your file in the past six months. Once the errors are corrected, it is a good idea to get a new copy of your credit report several months later to make sure the wrong information has not been reported again.

The three national credit bureaus are:

Tell your car insurance company. Do not wait until the credit bureau investigates the errors to contact your insurer. Tell your insurance company right away and ask if the errors will make a difference in your insurance. If the errors are big, tell your insurer that you are disputing the information and ask if they will wait to use your credit information until the errors are corrected. Small errors may not have much affect on your insurance credit score. If the errors are big, it can make a significant difference in your premium. Some companies are unable to adjust the premiums until the score is corrected, but it does not hurt to ask.

If you have taken the steps to improve your credit, score you should ask your insurance company to re-evaluate your credit score at renewal.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

Car Insurance Tips for Senior Drivers

Like all drivers, senior citizens (or as we like to call them “seasoned citizens”) want to get the best rates on their auto insurance policies. What they may not be aware of is that older drivers may present a higher risk than other drivers, usually leading to higher auto insurance rates.

Following a few simple tips and taking these measures will ensure that you are getting the lowest rates possible on your car insurance policy.

  1. Avoid more Accidents, Pay Close Attention at Intersections. Auto accidents involving seniors often occur at intersections. Make sure to look ahead if you plan to quickly change lanes after an intersection. Pay attention to protected left turn lanes with their own arrows, and always keep your tires pointed straight ahead when stopped, so that a rear-end accident doesn’t push you into oncoming traffic.
  2. Follow the flow of traffic, Drive at the at or near the speed limit. Driving too slowly can be just as dangerous as speeding, especially when entering or exiting interstates or freeways. It can also trigger dangerous “road rage” in less patient drivers. You don’t have to be Mario Andretti, but keeping to the right and following the flow of traffic is the safest bet.
  3. Many violations include failure to yield right-of-way, improper turning or incorrect lane changes, so keep current on the traffic laws relating to new traffic designs.
  4. Sit high enough in your seat so that you can see at least 10 feet in front of your car, advises the National Highway Traffic Safety Administration. If your car seat does not adjust to allow this, add a cushion. This will make it easier to see pedestrians and bike riders, and reduce problems from oncoming headlight glare at night.
  5. Do not wear sunglasses or tinted glasses when driving at night. For many older drivers, night vision is reduced, so safety dictates not driving at twilight or after dark.
  6. Make sure you learn how to operate a New Car. Things like Anti-lock brakes, for example operate differently in slippery situations. If you have never driven a car with anti-lock brakes, sure to get training on proper use.
  7. Senior drivers can refresh their skills and knowledge — and get a discount on car insurance coverage in many states — by taking a refresher driving course, such as the eight-hour “55 Alive” course offered by AARP. More than two-thirds of states mandate auto insurance policy discounts for such courses, and many insurance companies offer the discounts voluntarily.
  8. Look for cars with rear-view mirrors that automatically dim and filter out headlight glare.
  9. Air bag technology has become more advanced, with sensors that deploy air bags based on the weight of the occupant, reducing air-bag-related injuries. Some new cars also have side air bags in the seats or door frame that offer better protection.
  10. Consider fit and comfort in your new car. Seat belts that comfortably fit over your shoulder and low on your lap will keep you safer. Automatic transmission, power steering and power brakes require less physical effort.
  11. Last but definitely not least, Check to see which car insurance companies offer specific ‘Senior Discounts.’ While shopping around for the best auto insurance rates is important, which insurance company you choose might depend on how they treat senior drivers. You’ll get their best rates if you’re healthy and drive a safe, modern vehicle.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

How To Change Car Insurance Companies

Changing Car Insurance Companies in Las Vegas May be Easier Than you Think!

There are many reasons why you may choose to change your car insurance coverage to another company. Perhaps you’ve found another company that offers you the same amount of coverage for considerably less money. You might have changed jobs and are eligible for a group discount through another insurer, or maybe you’re unhappy with the service that your present company provides. With the growth of the internet and quote comparison sites, investigating your options has never been easier!

Why change to a new Car insurance carrier?

You need to regularly review your auto insurance coverage to make sure that you are receiving the best insurance value for your money. You will discover that it pays to shop around. In some states, premiums for identical policies vary widely among different auto insurance companies. The reasons for this price variation can be very complicated, but they boil down to a company’s claims experience with policyholders in a coverage group (e.g. people of similar age, number of accidents, type of vehicle). For example, if a large number of people in a coverage group files claims during a given year, their rates will likely rise. When this happens, better discounts and lower overall premiums may be available at other insurance companies. When you decide to switch your auto insurance to another company, you’ll find that it’s fairly easy to do so.

How to cancel your old Car Insurance policy

Generally, all you need to do to cancel your auto insurance policy is to inform your insurance company in writing, specifying the date you want the policy canceled. In some states, the new agent must notify the previous agent of the policy change. Some auto insurance companies ask the policyholder send back the actual printed policy. The insurance company will send a cancellation request form that will need to be signed and returned. Examine the form carefully to make sure that all information regarding the policy is correct. If the form is not received within two weeks of sending the letter, call the agent or company immediately to check on the status of the cancellation. Don’t just walk away from the old policy without formally canceling it. Each state requires that auto Insurance policies be cancelled with notice, thus the insurance company might assume one wished to continue the coverage, and it might eventually terminate the policy for failure to pay premiums and report the lack of coverage to the state Department of Motor Vehicles. This can hurt your credit rating and ability to get a new policy.

Be sure to get a new Auto Insurance policy first

Always have a new policy in place before canceling the old car insurance coverage. Otherwise you might have a gap in protection for a day or more! Most states require all drivers to carry a minimum level of auto insurance and most insurance companies require policyholders to present proof of new coverage before they will cancel an active policy. The new company will be able to time the beginning of the new policy to coincide with the cancellation of the prior coverage.

When to Change Auto Insurance policies

At Renewal:

Renewal is a convenient time to change auto insurance policies, as you don’t have to wait for a refund from your current carrier. A renewal notice will be sent to you approximately 30 days before a new policy begins, depending on the regulations in your state. Should you decide to switch companies, you’ll need to have a new policy by the time the current policy renews. Though a company might say there is 10-30 days to get your payment in before a policy terminates, you do not have coverage until the carrier receives the payment. If you have an accident during this time period you most likely will have no coverage since the premium wasn’t paid!

Anytime:

All Car insurance policies contain a provision allowing you to cancel your policy with proper notice at any time. In a few states auto insurance companies “short rate” the policy that means one pays a penalty for canceling before the policy renews. Most insurance companies pro-rate their policies so there is no penalty. The advantage of switching before the renewal date can save you a lot of money. For example if you have a policy that runs from Jan 15th to Aug 15th and you have an accident or ticket that will be over 36 months on March 15th. By switching Auto insurance companies on March 16th, you get a discount for having a clean driving record. Your current carrier won’t apply this discount until the policy renews on August 15th! This can save you Hundreds of dollars immediately!

How long does it take to change Car insurance?

When you change car insurance companies, the new agent or insurer can generally change carriers while you wait! Generally they’ll just need a copy of your current declaration page, driver’s license and down payment to get the policy issued.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors

Micah Bleecher No Comments

Determining how much Auto Insurance Coverage you Need

The Three Basic parts to a Car insurance Policy

1: Other Party:

Car Insurance Bodily Injury (BI) Liability and Property Damage (PD) coverage is Legally required in most states today. (BI & PD) Most people understand that they need BI & PD, but they have no idea how to determine how much coverage they need.

Try this simple question: What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed? Remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! So, what do you think their family would sue you for? $15,000? $25,000? $100,000 or even maybe a Million dollars! Where would you get the money to pay them?

Perhaps the Equity in your Home would help? How about your Savings and/or Investments? You could even have up to 25% of your wages attached to pay the award in most states! Are you prepared to sacrifice everything you own to pay an award due to this accident? If not, read on for how to choose the auto insurance coverage you need.

2: You and Your Family:

Now let’s turn the above accident around. For some unfortunate reason, you or a loved one is the one who is injured or killed in an auto accident. Where would you get the money if the person who hit you did not have car insurance or not enough car insurance? Medical bills can be covered if you have health insurance. But health insurance doesn’t cover loss of life, pain & suffering or permanent disability.

Maybe you have a Life insurance policy through your employer or your own individual life policy. Is the benefit amount sufficient to cover your family if your loved one is killed? But even if you have life insurance, what pays for the misery, the pain & suffering, maybe the fact you or a loved one can’t walk or use their arms again?

You might have a disability insurance policy through your work if you’re lucky or had good financial advice. But disability insurance doesn’t pay for loss of life, pain & suffering, permanent loss of your legs, arm or hand.

The only coverage that pays for these things is a part of an auto insurance policy known as Un/Under-insured motorist coverage. You can only buy as much coverage here as you have in Liability coverage. Your auto insurance agent should be able to help you determine the exact amount you need.

3: Your Car:

Comprehensive and Collision Coverage are the third part of an auto insurance policy and are sometimes referred to as “Full coverage.” Basically the difference is this: If you run into the tree you are covered by Collision coverage. If the tree runs into you (hypothetically of course), then you are covered by comprehensive coverage. Comprehensive also covers broken windshields, fire, theft and vandalism. The higher deductible (risk) you take here, the lower the premium. Use the savings here to purchase higher limits in the coverages that protect your assets and your family.

The bottom line to determining proper auto insurance coverage is, of course, the money available in your household budget. An excellent place to start in determining the proper auto insurance coverage for your family is to meet with your local car insurance agent.

Most cut-rate companies concern themselves with one thing only: Price. Tell them what coverage you have and they’ll see if they can give you the same coverage for less. You become the insurance professional. If this is the only need you have then that is ok. If not, you need to seek the advice of a professional to help you determine the proper amount of coverage you need and how best to accomplish it.

Review these tips for auto insurance coverage to make sure you have enough to protect your family.

So why not get started today and call Micah and Maria at 702-477-7776 for excellent advice from Bleecher Insurance Advisors