Mr. Quotey's Blog

Teenage driver auto insurance discounts

2012-03-01T10:01:00.000-08:00

Teenage divers, just the sound of that statement can reek fear to any parent who is about to have one on the road. The parent's fear of when their teenage son or daughter gets their drivers license and are ready to get behind the wheel is of course for their safety and for the other drivers . This fear is natural and to be expected. With that said knowing how much it will cost to insure them could be the worst fear of all. Rates with auto insurance companies of course will vary, but either way teenagers never seem to be cheap. No matter what insurance company you decide to go with remember these tips and you might just be surprised at how much it will the insurance premium. Fist, ask you agent or insurance company about a good student discount. Though some may think this is just a gimmick, insurance companies feel very strongly about the correlation between a student with good grades and the decreased risk of getting into an accident. So much that the discount can be as much as 25% off. For most insurance companies to qualify for a good student discount one must have a 3.0 or "B" average. They also require for that student to be attending full time. This discount often can be applied through college or till the student reaches 25 yearold. Another great way to save is ask the agent or insurance company if they have some type of youthful safety course. Very much like what they would have experienced in a drivers education class. Even if the teenager has already taken drivers education this discount is worth it to spend the time to complete. These courses are often only 30 minutes long and the teenager will have to fill out a questionnaire after the course. This discount can be up to another 15% off. Though they may not be paying the same rate on their car as you would, it certainly can help when that insurance premium renewal comes in the mail. Stay tuned for more quick tips to save on car insurance.

Mr. Q

Stolen luggage

2012-02-27T22:51:00.001-08:00

Mr. Q travels quite often and one thing is for sure. Some day your luggage will be lost or stolen. If it is lost the airline has insurance to cover the value of your belongings. So what do you do if your luggage is stolen while you are on the road. The answer is, your home owners policy. Yeah that's right. Your home owner's policy has coverage for personal property. With most major companies, home owner's policies will have your personal property about 70% to 80% of what ever your dwelling coverage is for. This means two things. One being that you will not have to decide how much coverage to add to your policy. Second is that your home owners insurance policy gives you worldwide coverage on all of your personal property up to 10%. This means if your home is covered for $200k, you will have personal property coverage of about $150k with 10% of that being $15k to cover your belongings if they were to be stolen anywhere in the world. For the majority of travelers, thinking of your home owners policies would not be the first thing after such an event. That of course is why Mr. Q is here to help before something like this were to happen to you. So if it does, you will be prepared to contact your insurance company and start the claims process. Happy traveling and keep the great questions coming.

Mr. Q

Crazy Insurance story

2012-02-25T23:37:00.000-08:00

This is a true story from one great agent who shared his story with Mr. Q When it comes to home owner's insurance your policy has limits on what it will cover, whether it is for a total loss on your home due to fire or stolen personal property. Specifically on jewelry most policies have a very low limit. This crazy story begins with a lady who loves her very expensive jewelry. She would wear custom made tennis bracelets inlaid with diamonds along with big name watches. Her agent expressed many times to her that in order for them to be covered for what they are worth she would need to add them to her home owner's policy under what is called a jewelry floater. This is available on every policy so that one may have items that exceed the policy limits listed on the policy covered in the event of a loss. After many months the client decided to go meet with the agent and consider having them added. She started her day by taking all of her custom jewelry to be appraised and then headed to the insurance office with appraisal in hand. Of course she also had the jewelry in her purse because she was just at the Jewelers. The agent began to discuss the cost of insurance to cover the appraised amount of jewelry that was valued just over $10,000. The insurance agent explained that it would be $110 per year to add this coverage to her policy. The client was outraged by what she thought was a ridiculous amount. She left in disgust, making the comment that it was highly unlikely that she would lose or have any of it stolen, especially all at one time.

Less than 25 minutes later a call came into the agents office from the same client. The agent of course expected to hear that she was ready to add them to the policy. But this, as you may have guessed, was not the reason! After leaving the office she made a quick stop at the grocery store which ironically is in the same complex. As the client was putting the groceries in her car a purse snatcher make a quick grab of her hand bag. Her jewelry was in that hand bag and was never seen again. The client begged and pleaded with the agent to see if there was anyway that it could be covered because they had talked about it. The agent expressed his sorrow and explained that he could not do that because she had rejected coverage. The agent wanted to recommend that she could use the $110 per year that it was going to cost for the coverage and save it so that by year 90 she would have enough money to go and replace it, but he couldn't muster up the gall. Just goes to show when you have an opportunity to protect yourself, take it.

Save money and carry high auto insurance limits

2012-02-24T22:06:00.002-08:00

When it comes to determining what level of limits to carry on auto insurance, one might assume that selecting the state minimum would be the cheapest. Well, believe it or not, this is not always the case. Here are some reasons why and how making the decision to carry more than the state minimum will help you in the long run.

One of the biggest reasons is if you have more than the minimum limits and decide to switch insurance companies, many of them will give you a discount for carrying the higher limits. One company in particular that Mr. Q knows all too well has a cheaper rate for those who carry these higher limits and the rate is actually priced less than what the state minimum rate is. Yes - shocking I know.

Another reason that is probably obvious is when you are involved in an accident that is your fault and you are not carrying enough coverage to pay for the damage or injuries to others. You are responsible for the outstanding balance of damages over the limit of your insurance. This means that once your insurance company has met their obligation based on the coverage limit you selected, they are no longer responsible for the remainder. Many people assume they can sue their insurance company and have them pay more. This leads nowhere.

The most costly mistake is when your coverage limits are exceeded and you are responsible for whatever amount is owed, many states allow your future earnings to be withheld or garnished to cover the outstanding amounts. In the home state of Mr. Q, your wages can be garnished up to 40% for 20 years in order to cover any auto insurance judgement. This of course is the worst case, but it does happen more often then you think.

So a very easy solution to protecting yourself when purchasing auto insurance is to simply take a few minutes and ask your agent or company representative to give you a comparison between state minimum and higher limits. You will be surprised at how little the additional cost is even if you do not get a discount for having previous high limits. Doubling you coverage doesn't cost double the price. It may only cost $5-$10 per month to double or triple the coverage. It is a small price to pay to know you will be protecting your pocket book for the future.

Mr. Q

Distracted while driving!

2012-02-23T21:59:00.003-08:00

We've all sent a text or used our phone while driving, it's no secret. We know it's dangerous, but how dangerous is it really? Well Mr. Q went digging and will share the shocking findings with you. Hopefully it will change your mind and make us all think twice in the future. Mr. Quotey has made the pledge to stop using phones while driving. Mr. Q challenges you and your family to do the same. Here is some of the more interesting data -

Cell phone use was reported in 18% of distraction-related fatalities in America.

Texting takes your eyes off the road for 4.6 seconds. At 55mph, that's like driving an entire football field blindfolded.

In 2009, 5,474 people were killed in crashes involving driver distraction, and an estimated 448,000 were injured. (NHTSA)
16% of fatal crashes in 2009 involved reports of distracted driving. (NHTSA)
20% of injury crashes in 2009 involved reports of distracted driving. (NHTSA)
In the month of June 2011, more than 196 billion text messages were sent or received in the US, up nearly 50% from June 2009. (CTIA)
Teen drivers are more likely than other age groups to be involved in a fatal crash where distraction is reported. In 2009, 16% of teen drivers involved in a fatal crash were reported to have been distracted. (NHTSA)
40% of all American teens say they have been in a car when the driver used a cell phone in a way that put people in danger. (Pew)
Drivers who use hand-held devices are 4 times more likely to get into crashes serious enough to injure themselves. (Monash University)
Text messaging creates a crash risk 23 times worse than driving while not distracted. (VTTI)
Sending or receiving a text takes a driver's eyes from the road for an average of 4.6 seconds, the equivalent-at 55 mph-of driving the length of an entire football field, blind. (VTTI)
Headset cell phone use is not substantially safer than hand-held use. (VTTI)
Using a cell phone while driving - whether it's hand-held or hands-free delays a driver's reactions as much as having a blood alcohol concentration at the legal limit of .08 percent. (University of Utah)
Driving while using a cell phone reduces the amount of brain activity associated with driving by 37%.

Make the pledge! The life you save could be your own.

Mr. Q

data supplied from (NHTSA) (distracted.gov)

My iPod was stolen!

2012-02-22T15:36:00.000-08:00

Wednesday's quick tip. In the unfortunate event your car is stolen or broken into, it's devastating enough dealing with the loss. The guessing and speculating of how this could have happened will drive anyone crazy. The aftermath can be just as bad when you are dealing with the claims department and find out that your precious iPod is not covered. What? How can this be? It was stolen out of your car so why will the insurance not cover it? Your iPod is not covered under your auto insurance because your auto insurance does not cover personal property. Personal property is anything you own that you bring into the vehicle. So what can you do?

Before this happens to you, here are a few ways to protect yourself. First, is quite obvious, don't leave items that are of value out for others to see. Second, and the solution to covering the iPod if it is stolen is to have a renters insurance policy or home owners policy. You can get a renters insurance policy for $10 per month with almost any major insurance company. Also when adding a policy you will receive a discount on your auto insurance up to 15%. In some cases, it is enough of a discount to pay for the renters policy. Hope this helps.

Mr. Q

Insurance rate based on zip code

2012-02-21T23:08:00.000-08:00

Today Mr. Quotey was asked by a loyal follower a very common question that many of us have experienced but are not sure of why it happened. "Why did my auto insurance rate go up just because I moved within the same city? In many states your insurance rate may be partially based on what zip code you live in. Which can result in various rates for the same person and car depending on where you live. How can this be? This is because the data that insurance companies use from their claims department show some zip codes experience a higher number of thefts and vandalism. Often one living in rural areas have lower rates then one who lives within a major city even if it is just a few miles away. This is a very confusing and often inexplicable issue for an agent to convey to the client because the the agent does not set rates nor do they have access to the claims data to explain. Consumers are often advised incorrectly by many outside sources as what to do to reduce your rate. For example, a local television station recommended on the evening news to obtain a P.O. Box out of town and use that address with the insurance company. This could possibly be the worst advice we have heard. First of all your rate is determined on the garaging address not your mailing address. Do not use a PO Box to try to lower your rate. Second if you did use a garaging address outside of town and you had a claim, the adjuster would ask where the vehicle was at the time of loss. If it was stolen from your house which is in town they would again ask why you have an out of town address. Simple making any claim harder than it needs to be would not be a good thing.

So what can one do if the rate goes up just because of a new address. There is no magic wand to use because you can't control rates, but here are some ideas that will help. For states that allow rates to be different based on zip code remember this: It may not always go up. Yea that's right if it can go up, it can also go down. So don't let the fact that insurance companies vary rates based on zip make you assume it will always go up. Of course the more crime ridden that area is, the more likely one will have a higher rate. So tell your insurance company if you have any anti-theft devices or alarm on you vehicle. Make sure you are receiving all discounts you qualify for. I know you have heard this a million times but it is amazing how often discounts are overlooked. Also look at how you pay for your insurance. Most companies offer a discount if you use auto pay through them or pay in full for the entire policy term. Also if you are moving make sure you combine your auto insurance with your home or renters insurance. This is the biggest discount in the book. Often up to 30% off. Keep the questions coming.

Mr. Q

Make the agent shop your insurance

2012-02-15T21:46:00.000-08:00

This quick tip is for those of you that have your insurance with an independent agent. An independent agent is one that has the ability to shop your insurance with a multitude of different companies. This can also be refered to as an insurance broker. So back to the topic at hand, why have your agent shop your rate? Well the first reason is quite obvious being that you might find a better rate or a company that can offer more coverage for the same price. Second just might be something you have not thought about - why the agent placed you with that current company to begin with. You might think it was based on your price, which could be true, but have you ever thought that it also could be based on how much commission the agent is receiving. So here is a basic explanation of how this works. In the independent agent world there are many different companies available. When an independent gets a contract to sell insurance for a particular carrier the agent must send enough business to keep that contract. Basic commission is 10% on auto insurance. If the agent is very successful and is sending a large amount of business to one company, that agency can request and negotiate a larger commission paid to them due to the volume. This can increase commission up to 20%. Some newer companies in the auto insurance market may also offer higher commissions in order to get more policies on their books. This is not necessarily a bad thing, nor does it affect the clients rate. It simply just could influence your agent's decision to send clients to one company rather then another. The agent may not even request a quote from a company paying less commission and therefore how would you ever know if there is a better rate? Finally, remember if you are paying for your insurance and the agent never hears from you then you probably won't hear from them. To an agent a great client is one who pays their insurance and doesn't have any issues. This knowledge comes directly from a large independent agency that writes business in almost every state who was kind enough to share with Mr. Q. Also with all the years of experience, Mr. Q has observed that most every agent does what is best for the client. So as a consumer, the best advise Mr. Q can give is that if you are working with an independent just ask what insurance companies can they write with and pick a few that you would do business with and request that your agent presents you with a quote from those companies. This is a great way to make sure you are getting the most for your insurance dollar and Mr. Q recommends this on an annual basis.

Mr. Q

Save on insurance quick tip

2012-02-13T22:18:00.000-08:00

Monday's quick tip to save on car insurance. As you drive to work and are thinking about your busy week ahead, one item that most likely is not on the schedule would be to contact your insurance company. Of course why would it be? Well it just might be worth it and could save you some money. Many large insurance companies are now giving more discounts then ever before. One of them being for some very specific professions. Insurance companies apparently have studied their claims data and bought into the idea that people in certain professions are less likely to have a claim. Therefore the insurance companies are offering a discount for those fields. Some of these include a discount for Teachers, Firemen, Doctors, Nurses, and even Scientist to name just a few but there are many other professions with discounts as well. The thought behind giving a discount for a particular profession is based upon typical characteristics of people in these types of professions - certain types are less likely to take certain risks. The data is not defined or shared but insurance companies equate that data into a lower chance for a claim. So regardless what you do for a living, contact your insurance company today and just ask about a profession discount - it could save you anywhere from 5-10% on your auto rate. New ones are added all the time and you might be surprised. Hope this helps and happy Monday.

Mr. Q

Medical coverage on auto insurance?

2012-02-12T18:11:00.000-08:00

Mr. Quotey was asked by a client "why should I carry medical coverage on my auto policy if I already have health insurance?" This is a great question. Let us explain first that your car insurance only covers injuries to another party in case of an at-fault accident. It doesn't include coverage for your injuries if you are at fault. For states that allow insurance companies to offer medical coverage this might be a better deal than you think even if you already have health insurance. Here are some reasons why: First, auto medical coverage will cover any passengers of the vehicle regardless of fault in an accident. This can be a great coverage to have for those who may have many different people with them in the car. People like car pool groups or friends of kids, because you may not know who has health insurance and who does not. Medical coverage in your auto policy also is great to have in the unfortunate case that you are injured in an accident, your auto medical coverage can have no deductible which in turn can help cover any hospital deductibles you may have on your health insurance. Also just imagine if your child slammed the door on their friend's hand and they didn't have health insurance to cover them, it would be nice to know that you could cover it. Coverages can range anywhere from $1,000 to $100,000 with deductible of $0 to $1,000. Cost can range quite a bit between companies and by how much coverage you want, but it's definitely worth looking into. The way Mr. Q sees it, is that if you are paying insurance to cover someone else in the case of an accident, you might as well cover yourself.

Mr. Q

Save on car insurance

2012-02-10T22:05:00.000-08:00

Quick tip of the day to save on car insurance!!! Today I switched my car insurance to paying monthly by electronic withdrawal and received a 10% discount on my rate. Also by paying it through electronic withdrawal from the company, I was able to avoid any month withdrawal charges or service fees. I know that many people use bill pay through their bank or credit union but by doing so, your insurance company will not give you the electronic withdrawal discount. The reason being is that the insurance company is not taking out the funds. So if you use bill pay, contact your insurance company and have it set up on there electronic withdrawal system. It just may save you some money on your car insurance...It did for us!

Mr. Q

Where to insure my classic auto

2012-01-31T22:40:00.000-08:00

Where to insure my classic Austin Mini? Here at Mr. Quotey we are definitely car guys and are asked all the time if one should insure their classic auto with the same company that covers your daily driver. Some major insurance companies do offer this coverage but understand that there are companies that are designed and built to only cover classic autos. The benefit to having a specialty company write the auto insurance is that they understand that your needs for coverage are different then your everyday car. They understand that you treat your classic auto as such and therefore your rates can be much less. Unlike conventional coverage, guaranteed value coverage ensures that you receive every cent of your car's value in the event of a covered total loss. They also have claim specialists that understand the parts needed for classic autos. Yes, there are limits to what you can cover any auto for, but remember your premium will be based on the agreed value. For example, the cool Austin Mini here at Mr. Quotey is insured with a specialty company and only costs $120 per year with coverage against collision and theft with no mileage limitation and low deductibles. Rates were the same between the three companies we checked for the Mini. This may not be the case for all but it was a very simple process by phone. All that was needed to start coverage was 5 color photos and a signed application. Hope this information is helpful and hope to see you at the next cruise night.

Mr. Quotey

New Parent, New Baby Discount

2012-01-20T22:16:00.000-08:00

As a new parent there are so many things to think about and do with the most wonderful gift in life. One thing is for sure, there will be many sleepless nights, trips to the doctor, and countless runs to the store. The way you drive also changes and many insurance companies recognize this. When drivers have a baby in the car, safety becomes key. Well, who would ever think this actually could result in a discount on auto insurance? Many of the major insurance companies will offer a New Parent or New Baby Discount on your auto policy for up to 36 months. The majority of these discounts range from 5-10% off of your policy. It may not sound like a whole lot of money but with what kids cost today, every penny counts. Hope this quick tip finds some new parents out there in your busy schedule and helps save a few bucks.

Mr. Quotey

Will insurance rates vary between agents in the same company?

2012-01-16T15:08:00.000-08:00

This is a question many agents are asked from clients looking for a better rate. Often this question is asked because the customer may be comfortable with a specific insurance company but may not be sure if the agent is giving them all the discounts eligible to them. Here at Mr. Quotey this also is a question asked to us regularly. The simple answer to the question "do rates vary between agents with the same company" is NO. With any major insurance company all agents are using the same system to generate a quote or policy for the client. This would be like asking if the same fast food restaurant down the street offers a better price on the same hamburger? Ah... No. If you are getting quotes from two different agents and coming out with two different prices and they are with the same company, here is what to look for in the pricing to decode the difference.

First, start with comparing the coverages between the quotes. Often agents quote very different limits of liability even within the same company. Some may quote state minimum while others make a personal choice to quote every customer with higher limits. Second, just ask the agent what discounts you are receiving. Sometimes the agent has not asked enough questions to know all the discounts you might be eligible for.For example: whether you are a homeowner, billing preference, multiple cars, and also your profession. Refer to my earlier post of "Ten best ways to save on car insurance". Finally, if you feel that the agent is having trouble or can't explain your rate in simple terms, simply move on to another or just use a service like Mr. Quotey to receive and review multiple quotes with one easy click.

Mr. Quotey

Ten Best ways to save on car insurance

2012-01-14T22:57:00.000-08:00

I want to shop for car insurance but I need some tips on how to save money. Can you tell me what I should know when shopping?

Here are 10 Real tips to saving on car insurance!
Sure we all have heard of ways to save money on car insurance, but I decided to give 10 real ways to help.
Whether or not you are shopping for car insurance or just want to save money at your current company, here are some tips that can really help!

TIP 1: Get a quote with auto and home together
If you don’t own a home, get a quote with a renters policy. Many major companies are now offering discounts up to 25% off the auto and home when you write them on the same day. By adding a life insurance policy you could save even another 5% to 10%. As for renters, you can get discounts 10% to 15% off of your auto.

TIP 2: Ask about discounts for your profession
Insurance companies across the board offer discounts for particular occupations that they feel are a better risk to insure. You can save as much as 10%. If your profession is not offered a discount from the company your working with, check with your employer about insurance companies that do.

TIP 3: Bill paying discounts
When you find a company that you want, there are two big ways to save simply by the way that you pay. Paying in full can give you a 12% discount and electronic withdraw if you pay monthly can offer 10% off the premium.

TIP 4: Deductible Rewards
If you carry full coverage, companies offer many different deductibles and some carry deductible reductions or rewards for every year you drive without an accident. For example, if you carry a $500 deductible and drove five years with no accidents then in the sixth year you had an accident, you would not have to pay a deductible to repair your car. Be sure that the companies offering this are not charging you any extra…many do! If they do don’t pay for it!

TIP 5: Carrying high limits of liability could actually save you money
If you are shopping for a new company, often they will give a customer more of a discount if you have carried high limits of liability (this is your BIPD coverage) at your previous company. This means that you could be paying the same amount for higher limits which protect you and your family as the customer only carrying state minimums
.
TIP 6: No Claims = Cash Back
There are a few companies currently offering 25% of your annual premium paid back to you if you carry auto and home and stay claim free for three years. This is a great feature. Don’t file a claim and receive a check back every year!!!

TIP 7: Annual Review
Review you policy with your agent at least once a year or simple call your company to see if they have any policy features or deductible changes that may save you some cash. Insurance companies are coming out with so many new products to attracted new customers, sometimes they forget about their current clients. Don’t be shy to call.

TIP 8: Know your credit score!!!
Insurance companies know that the worse your credit is, the more likely you are to have a claim or an accident. This can cause your rate to be as much as 50% higher!!! Yes insurance companies use this to determine your rate in many states. If you are married find out who has better credit and list them as the first one on your insurance policy or as head of household
.
TIP 9: Be aware of cars that may cause higher insurance rates
Some vehicles have higher insurance rates due to who is buying them. Entry level cars often have higher insurance rates because many people who buy those cars are younger. Insurance companies tend to have more claims filed from younger, under 25. Let’s be clear we all know what kind of car Grandma drives and it is not what the young crowd wants to drive.

TIP 10: Use an online quoting service
Use one at least once a year to receive quotes from multiple companies. Remember it costs you nothing to quote your insurance. Some companies will offer a 5% discount to use a future effective date. Simple if you tell them that you want to start your policy at least a week out - ask them if that will get you the discount.

Beware!
Beware of a few things…Companies now are offering huge discounts to write new customers for auto and home. Many of these discounts fall off after the policy renews. Ask the agent or the company if these discounts will stay on after the policy renews.
Hope this helps and stay tuned.
Mr. Quotey

Do I need full coverage insurance?

2012-01-12T21:32:00.000-08:00

I paid off my car…Do I still need full coverage insurance?

Many people ask this every day. Full coverage is commonly referred as carrying comprehensive and collision. The response depends on how fast you paid off your car, how old is your car, did you buy it new or used, what is your car worth, and can you replace your car if it gets stolen? If you bought your car new and paid it off within the average term 36-72months I would say do not drop full coverage. The type of car definitely matters. If you have a 7 year old family sedan with 100k miles on it, then probably no. If you have only a 3 year old diesel crew cab pickup then probably yes. Simply based on what it would cost to replace each one of these can be only a few thousand for the family sedan, but the truck might still cost you tens of thousands to replace. It really should be a simple process to figure out.
Step 1: Look at pricing guides for your vehicle to determine what it is worth.
Step 2: Find out how much full coverage costs. If it is only costing you a few hundred to carry full coverage a year and your car is still worth more then $5,000, I would. If not and you need to save some cash, you can also raise the deductible to still have the coverage but reduce the cost of insurance. You can always just roll the dice and just drive with liability only. Keep bringing your questions and we will do all we can to help.

Mr. Q

Should I carry state minimum coverage?

2012-01-11T21:43:00.000-08:00

Should I carry state minimum coverage?

Well this question is presented to us all of the time.
The simple answer is NO!
The concept behind paying for insurance is that in the case of an accident, the insurance company will pay for any property damage and any medical injury you cause to others in the accident, but not injuries to yourself. By selecting state minimum coverages you are putting your assets and personal liability at risk. Why you might ask? Well if you select your state’s minimum coverages and you were to get into a serious accident, the insurance company will only pay up to the amount of coverage you selected. You do not want to have to pay for any claim out of your own pocket that is why you are paying for insurance in the first place. What if I don’t have any asset other then my beat up old car? In some states if you are found at fault in an accident, your future wages can be garnished..
Whether you drive an old beat up car or a flashy new sports car, do yourself a favor and try to buy higher limits of liability whenever possible. Twice the coverage is not twice the price. It may only cost a few dollars more per month to carry at least twice the minimum state amount. Ask your insurance company what the cost is for state minimum and then see what the cost is for more coverage. You might be surprised at how little it costs to significantly increase the protection on your assets. Stay tuned for more Q and A from Mr. Q

What is liability insurance?

2012-01-10T21:18:00.000-08:00

What is liability insurance?

Well, I get this question all the time. When it comes to auto insurance no one ever seems to slow the customer down for a minute and explain the basics of auto insurance. So here I go: First, your liability insurance is the amount of coverage that you have on your policy to cover damages for the other vehicle and their passengers. This coverage only comes into effect when you are at fault for an accident. If you are in a single car accident, like hitting a tree, this coverage will not apply. When you look at how the coverages are listed, you will see three different numbers grouped together. Such as 25/50/25. To understand these numbers let’s break them down. The first number is the amount of coverage for bodily injury per person. The second number is for bodily injury per accident. The third number is the amount of coverage for property damage. This will include damages to other vehicles and real property like a house, wall, street lights, etc. So let’s remember that liability coverage is only going to cover damages you cause to another vehicle and the bodily injury for passengers.

Mr. Q

What is the cheapest car to insure?

2012-01-09T22:59:00.001-08:00

What is the cheapest car to insure?

This could possibly be one of the most frequently asked questions. Many people assume smaller and cheaper automobiles will be less to insure. Well this may not always be the case. The consumer also may think that all insurance companies have the same rates for the same types of cars or trucks. Well this definitely is not true. Mr. Quotey is here to help for just this sort of question. No matter which car or truck you drive, the rate for insurance can vary greatly from one company to the next. Why, you might ask. From a consumer stand point it's logical to think that major insurance companies would have very similar pricing for similar cars and trucks. So back to the question. For insurance companies, the rate on a particular vehicle can come from what type of safety equipment the vehicle has, such as ABS, traction control, air bags, and theft deterrent systems. Many entry level vehicles do not come with all of these safety features and insurance companies can place different values on these type of features. Another major factor that most of us never think about is what sort of age group is typically driving a paticular type of car. Insurance companies rates vary based on this type of data. For example a Mercury Grand Marquis has been known to be one of the cheapest cars to insure for years. Why would this be? Well lets think about it - first who drives a Grand Marquis? My Grandparents might be a popular answer, as I know mine do. Another big factor can also be the chance of theft. Grand Marquis typically are not known for being stolen. Grandma is not going to be racing from the light or putting performance parts on her car. Grandma is more likely to park the car in the garage at night, where a youthful driver may have it parked outside an apartment. With a large number of drivers all in the same age group driving similar types of cars, this can affect the rate on those cars. This is also why some entry level cars and trucks can carry higher rates than the bigger and more expensive models. Liability rates can come from who is driving those particular types of cars. Next time you find yourself shopping for a new car, remember Grandma's car may not be the coolest on the road but it may be the coolest on the wallet when that insurance payment is due.

Mr. Q

Rental Car Insurance?

2012-01-07T22:48:00.000-08:00

Rental Car Insurance...
Do I need it?

Many of us have experienced standing at the rental car counter answering questions from the attendant like whether we want an upgrade, navigation, satellite radio, etc. Then one question comes up that we definitely are not prepared for. "Would you like to purchase our rental car insurance?" The typical response is a long pause with a "maybe" or a "do I have to have that." With the glaring eyes of the people in line upon us, a quick decision is made that we never feel good about from the second we drive away in that shiny new rental. That uncertainty is often followed up by a quick phone call to the insurance agent or company asking what should we have done.

Well, Mr. Quotey has heard this question many many times. So let's try to make this simple to remember for next time. If you are renting a car as a replacement of your own, whether it be you car is in the repair shop or simply out of town on vacation your auto insurance coverages extend to the rental as a temporary replacement of your own vehicle. Simply whatever coverages you have on on your auto policy will extend to the rental car. So now you must know what coverages you have on your auto insurance policy. If you drive an older car and have liability only you will have liability only on the rental, meaning coverage for damage caused to others or property. You will have no coverage to repair the car if you hit a light pole or if it is stolen. If you have comprehensive and collision you would have coverage for those type of accidents. All you will need to make sure of is that your limits are high enough to cover the cost of the vehicle if it was totalled out in a wreck or stolen. Temporary means typically less than 30 days. Many states require proof of financial responsibility when renting. If you do not have auto insurance, just buy it! If you waive it and you injure or wreck the rental car without insurance, you will be liable for the damages.
Just check before you rent and save yourself that embarrassing pause at the rental counter next time.

Mr. Q

When does my auto insurance rate go down?

2012-01-06T22:13:00.000-08:00

When does my auto insurance rate go down?

So when does my rate go down on my auto insurance? Does it? Who ever told us this? The insurance companies. Are you kidding? We as consumers actually have been convinced by insurance companies to believe that our rate somehow will go down with time. First let’s think about this sensibly - has anything gone down with time except the value of your car, because last time I checked food, clothes, and going to the movies are more expensive than 5 years ago.
The reality is that it is almost impossible for your auto insurance rate to go down with time. Sure there are some situations where it may, like when turning 25 or senior driving discounts, or maybe your profession may help. This is a clear marketing idea of hope given to customers in order for them to feel that they have something coming to them in the future. In return the company gains a client who will not want to move in hopes of future possibilities.
So why does my rate go up even though I have never filed a claim? The biggest reason for this is that body shop rates and medical costs for auto accidents continue to rise. This affects the overall rate for your insurance. If you refer to my earlier post I answer a similar question and show real tips on how to save on auto insurance

Mr. Quotey

Lend your car...Lend your insurance!

2012-01-05T22:03:00.000-08:00

We all remember the day getting a drivers license ready to hit the road with a few friends and go where the road may take them. Minutes before hitting the road a familiar voice known as mom would say "don't let your friends drive your car". As many teen drivers do that information was gone from thought by the turn of the key and the sound of the engine. Some make the odd decision of letting that friend drive their car eventually. For a small unfortunate few they quickly find out what that little voice ends up meaning shortly after that so called friend wrecks the car. After such and unfortunate incident the voice slowly begins to make sense of why it was said.

When it comes to auto insurance it's simple. Who ever you lend your car to, you will be lending out your insurance as well. If that friend wrecks your car and is at fault, the claims adjuster will pay the claim based on what type of coverages you have on your insurance policy, not the drivers policy. Why wouldn't the claim be filed under the driver's insurance? Simple...Auto insurance follows the car, not the person. Lend your car...Lend your insurance! Mr. Quotey is here to help make insurance a little easier to understand and of course more affordable. Now that voice seems to make a little more sense as we are older and hopefully wiser.

Mr. Q

Snowboard insurance bummer!!!

2012-01-04T21:25:00.000-08:00

With winter in full effect many of us find ourselves hitting the slopes and enjoying fresh powder any chance we get. Here at Mr. Quotey, we enjoy any day we can get out and shred the fresh powder. Of course, it's a great place to have our meetings and focus on some quality team building. Surprisingly though, with all of your thoughts on the mountain conditions and fresh snow fall, no one would ever consider insurance at a time like this ... or would you? Well believe it or not that's all we think about, no matter where we are. It pays to be prepared. Tragedy strikes when you least expect it. Just this season, a fellow snowboarder had his board stolen right out of the back of his SUV while he was gassing up on his way to the slopes. Pissed off and frustrated, he headed home and contacted his insurance company to report a claim. The company let him know that there would be no coverage for the board because it was personal property. The snowboarder had no clue why the "full coverage" on his SUV wouldn't cover his snowboard. "Full coverage" is a loosely used term often referring to having comprehensive and collision coverage. The insurance company explained that personal property is not covered under his auto policy and he would have to file a claim on his renters or home owners policy. Well, bad luck typically comes in threes, and you guessed it, no renters policy or home owners insurance. So what would the people at Mr. Q do?

Before you hit the slopes, remember, you may have coverage on your auto to repair the broken window from some vandal. But do you have coverage for your winter toys and gear? Renters insurance is very inexpensive, $10-$20 per month for $10k-$20k in coverage and your personal property is covered worldwide. Many companies also give 5-15% combo-discounts on your auto insurance. Almost enough of a discount to pay for the difference. Keep the questions coming and pray for powder.

Mr. Q

New Year, New savings on auto insurance!

2012-01-03T17:24:00.000-08:00

As the new year begins many of us have resolutions already made and hopefully not yet broken. Some of us have exercise, eating better, doing more charity work, and getting our budgets under control on the list. These are all very important and Mr. Quotey can definitely help on the budget. One of the biggest parts of anyone's budget is insurance. Auto insurance, home insurance, and life insurance in many cases are a must and so if they are lets get them under control. Mr. Quotey is here to help! Three easy ways to save in the new year. When was the last time you looked at your insurance? It's OK, no one really remembers, so don't feel bad. We all get used to paying and don't even give it a second thought.

    First: Grab a copy of your auto, home, or both policy and see if they are with the same company. If not you may be leaving 15-25% of savings on the table. Most every carrier writes both auto and home owners insurance. Even if you have insurance with the big auto-only companies don't worry they can get you renters or home owner's insurance too and give you a discount for it. They simply broker it out to another carrier and manage it for you.

    Second: Have the insurance company do a full review with you to go over all coverages and potentially many discounts. There may be coverage you don't need any more like collision or comprehensive coverage on your older car. Many times companies launch new programs, different deductibles, occupation discounts, and payment discounts. If your insurance company doesn't hear from you and you continue to pay don't expect them to dig through existing business just to save you money. The insurance business is difficult enough in this type of market and no agent or company is looking to erode premium from there book of business. Trust me on this one. Currently there are some companies that offer better rates to new customers than to their existing clients that have been there for years. The squeaky wheel always gets greased!

    Finally: Shop it!!! That's right, Mr. Q says shop it. This may sound like very basic advise, but when it comes to car insurance it really isn't that complicated. Simply people just don't want to deal with it. Use a free and easy insurance quoting site like Mr. Quotey and get quotes from multiple companies along with emailing or calling your company. For example, tell them you are getting quotes from other carriers and find out if there are any discounts you are missing or ways to save on your policy. Just make sure you stay with an "A" rated carrier and quote same coverages. If you don't love your current carrier or are not married to your agent, you may be surprised at the rates that are out there.

Mr. Q