Archive for December, 2010

What is the average payout on bodily injury liability coverage?

According to the Insurance Research Council (IRC), in 2007, the average payout for a bodily injury liability claim was $8,522. That was just for economic costs which include medical care, lost … [more]

December 29th 2010 Steve Wyrostek

I live in Florida and the minimum insurance you have to carry is $10,000/$20,000 for bodily injury liability and $10,000 for property damage liability. That seems low.

That is why many states and insurance companies recommend that higher limits be purchased. With the medical costs increasing so much, and car prices rising, at least $50,000/$100,000 limits … [more]

December 29th 2010 Steve Wyrostek

Can I obtain insurance later if I decide to discontinue my car insurance because I have a suspended license?

You may be able to get insurance again but the gap in coverage will probably cause the premiums to be very high. You may not even be able to obtain insurance via the traditional markets. You … [more]

December 29th 2010 Steve Wyrostek

How will a suspended license affect my insurance?

You license can be suspended for many reasons. They can include but are not limited to: · Driving under the influence · A hit and run accident · Reckless driving · Reckless endangerment … [more]

December 29th 2010 Steve Wyrostek

I have a person living in my home that I do not want driving my car. Do I have to list them on my insurance?

Most insurance companies will allow you to do what is called a designated exclusion. This is a separate endorsement that specifically excludes said driver from insurance coverage. It is used … [more]

December 29th 2010 Steve Wyrostek

How can I receive the cheapest insurance coverage that still satisfies the insurance requirements in Atlanta where I live?

Whatever company you decide to purchase insurance from, if you are truly looking for the cheapest insurance and still be legal to drive in Georgia, you need to consider the following: · The … [more]

December 29th 2010 Steve Wyrostek

I’m moving from a small town in Illinois to Chicago for college. I will be bringing my own car. Can I remain on my parent’s policy?

With most companies, you can. However, you will have to report the change where your car is domiciled. In this case, your rates will probably increase since Chicago driver rates are probably … [more]

December 29th 2010 Steve Wyrostek

Do car insurance companies offer discounts to college students?

Most definitely. Assuming you stay on your parent’s policy, there are at least three ways you can significantly reduce the car insurance premium: · Maintain good grades via a good GPA or … [more]

December 29th 2010 Steve Wyrostek

Can I legally drive my parent’s cars in Massachusetts without my own insurance? I am a college student and only drive it when I come home.

You may be covered assuming you have permission to drive the car. However, many insurance companies require that all of the drivers using that household as a primary address, be listed on the … [more]

December 29th 2010 Steve Wyrostek

Does my passing in a no passing zone citation raise my insurance?

You will be assessed some type of points on your driving record. For example, in California, they would assess one point for a moving violation like passing in a no passing zone. When your insurance … [more]

December 29th 2010 Steve Wyrostek