Car Insurance Sold at Dealerships are Overpriced and Substandard

A new study found that consumers shelled out $1.6 billion in insurance premiums and they have been duped into getting an expensive, poor value insurance products that provide them with little or no benefit, according to the Australian Securities and Investment Commission (ASIC).

They have reviewed the sale of add-on insurance purchased through car dealerships for the span of three years. Add-on insurance products are sold to consumers when they purchased a brand-new or used car at a dealership. It usually include tire and rim insurance, mechanical breakdown insurance and extended warranties.

Australian Securities and Investment Commission (ASIC) chairman Peter Kell said there are serious problems with the industry.

"There are serious problems in this market that need to be immediately and comprehensively addressed by insurers," he said. "ASIC will be undertaking further work, including potential enforcement action to ensure that this market delivers acceptable outcomes for consumers."

Car dealers like selling this type of insurance since they receive big commissions on it, with salesperson earning $602 million, this is more than four times what consumers received in claims. The report also said that consumers paid $1.6 billion in premiums and received only $144 million in successful claims.

Payment for this type of add-on insurance was usually packaged into the customer's car loan as a single upfront premium, which could significantly increase the cost of the vehicle by increasing the loan amount and interest paid.

Consumer Action Law Centre advise the car buyers to not be tricked into buying insurance in a car dealership and they should shop around and consider all the options first that are available in the market so that they can get a good deal rather than accepting what the car dealer has to offer.



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Car Insurance Rates Shoot Up Because of Pokemon Go Popularity

Pokémon Go is a free-mium location-based mobile game developed by Niantic for iOS and Android devices, it contains some but not all aspects of an augmented reality game. It uses the  GPS and the camera of compatible devices. Players can capture, battle, and train virtual creatures, called Pokémon, who appear on device screens as though in the real world and that's where the problem lies this can harm the player specially if they are on the road or driving.

People who are too engage in the game while they are walking or driving can cause serious accident. A lot of people fear that car insurance rates will go up because of Pokemon go popularity. Let’s look at this issue more closely.

The National Highway Institute is one of the many organizations that have released warning about the dangers of driving they have also warn that by not paying attention to the road it dramatically increases the chance of an accident. 

We all know the dangers of being distracted while driving is and Pokémon Go can be worst than texting-while-driving it is a distraction that can cause serious accidents.  In fact, in the short time since its release, there have been reported accidents in every place where it has been released. 

In playing Pokemon Go using your device (smartphone, tablet etc.) the place around you will be filled with Pokémon monster that you can capture, battle, and train. You will need to look in your device to see them, and you need to go to places to capture this Pokemon or hatch an egg which can be dangerous specially if the players main focus is the game and not what going on around the player since the game requires that the player go out into the world around you to collect Pokémon. A crucial part of the game is finding these Pokémon hiding in the real world and catching them.  This is the reason why car insurance rates shoot up with Pokemon go release.  Not paying attention to the road will of course dramatically increase the risk of accidents and injury.  Similar to talking on the phone or texting, Pokémon Go takes your attention away from being a responsible driver or pedestrian.

2016 Car Insurance Rates Rankings by State

The state with the most expensive car insurance premiums in 2016 goes to Michigan, they bag the top spot for third year in a row in the Insure.com’s 2016 state-by-state comparison of auto insurance premiums. Michigan average car insurance premiums is at $2738.
The 2nd spot goes to Montana at $2297, while New Jersey is in third with $1905.

Florida is the 8th spot they are paying an average of $1,654 annually for insurance, $329 higher than the nationwide average of $1,325.

Maine grabbed the No. 1 spot for the cheapest car insurance at $808 annually.

The rates are based on the average for the 20 best-selling vehicles in the U.S. in order to present more accurate rates for the average driver, without high-end sports or luxury cars skewing the data.


National average     $1325
1     Michigan     $2738
2     Montana     $2297
3     New Jersey     $1905
4     Louisiana     $1842
5     Oklahoma     $1778
6     DC             $1773
7     California     $1752
8     Florida     $1654
9     Maryland     $1610
10     Rhode Island     $1608
11     Delaware     $1607
12     Georgia     $1559
13     Texas             $1510
14     West Virginia     $1456
15     Wyoming     $1421
16     Colorado     $1393
17     Connecticut     $1367
18     South Carolina     $1353
19     Arkansas     $1345
20     Alabama     $1337
21     Massachusetts     $1325
22     Pennsylvania     $1305
23     Kentucky     $1295
24     New Mexico     $1277
25     Mississippi     $1277
26     Oregon             $1267
27     Minnesota     $1257
28     Nevada             $1221
29     North Dakota     $1200
30     Nebraska     $1188
31     Arizona     $1188
32     South Dakota     $1168
33     Washington     $1168
34     Tennessee     $1145
35     Kansas             $1135
36     Indiana     $1113
37     Alaska             $1078
38     Utah             $1061
39     Missouri     $1056
40     New York     $1050
41     Hawaii       $1049
42     Illinois     $1035
43     Virginia     $1020
44     Iowa        $989
45     North Carolina     $987
46     Vermont     $942
47     New Hampshire     $941
48     Idaho       $935
49     Wisconsin     $912
50     Ohio        $900
51     Maine       $808

Car Owners Don't want Insurance Companies to Track Them Even it they give Discounts

Car insurance companies like Progressive, Allstate, and State Farm are offering big discounts to car owners on their insurance however, it comes with a catch. They will place sensors in your car so that they can track your every move and driving habits.

The sensors will give insurance companies comprehensive data about how you drive your car, how far motorist drive, how often you hit the brakes, and record every time you exceed the speed limit. These data will give insurance companies information to identify safe drivers who are less likely to file a claim.

Insurance companies wants to create a database of these information about drivers to be able to accurately evaluate risk and customize each insurance policy to fit individual drivers. Unfortunately for them they will need customers to consent to having a tracking device in their cars, and a lot of people don't want it.

Insurance companies are temping car owners with plug-in devices and smartphone applications. They are also working with car manufacturers to be able to use their in-car computers as tracking devices. They also offer big discounts as high as 30%.


If you ask me, this is really creepy, if they can track your every destination they will know everything about you. Where you work, where your kids attend school, where you get your lunch etc.

Car insurance Guide

If you want to save on your Car Insurance you need to do your research and compare each of them. Insurance premiums are rising, it is up by 10% since 2008 which is big since before 2008 auto insurance premiums average increase is just 1% annually.

Most companies uses credit-based insurance scores to determine premiums. So if you have bad credits, you will have higher insurance premiums. Some companies even use firms that mine databases for personal policyholder information, insurance companies can use it to look for your personal information about your family, your marriage, your work and other information that is relevant and could increase your risks level this could lead to higher premiums.

There are insurance companies that requires their policyholders to have their car restored at their accredited repair shops so that they can cut cost. Some of them even use cheap aftermarket replacement parts.

There are factors that you don't have the power to change however, there are still ways to cut on your premiums for your auto insurance coverage.

1. Regularly (every 6 months) check rates from other insurance companies by getting quote from them online or by other means. However, if you have been with the same insurance company for a long time. They usually gives discount for longevity so your premiums with them will be hard to beat.

You can use Insurance Premiums comparison site to compare premiums. You can check out www.naic.org/state_web_map.htm to find a link to your state's agency. If you live in California use this link:

https://interactive.web.insurance.ca.gov/survey/survey?type=autoSurvey&event=autoStart

If you also compare through Answer Financial, Insure.com, InsWeb, and NetQuote. Sometimes you will not get an immediate results but they will email you the quote.

2. Check the background of the insurance company through research online, because some company charge less premiums but they will low-ball and cut corners when your car needs repairs. Some companies also increase premiums too much after an accident.

3. Your deductible should be just the right amount. If you choose a high deductible you will have a lower premium however you will have higher out of pocket cost when you have a claim. However, if you have a good driving record and you travel less having a higher deductible will be a good move.

4. The liability coverage covers property damage and bodily injuries that you caused in an event of an accident. If you reduce this and had an accident it can hurt you financially. Make sure that you purchase the standard coverage $100,000 per person for bodily injury, $300,000 per accident, and property damage up to $100,000.

5. Protect yourself from uninsured drivers make sure that your plan have uninsured/underinsured motorist protection. If you got hit by an uninsured driver you will be the one to pay for the damages and suit the driver who hit you in court to recoup what you paid for which will take time and more money.

6. If you are driving an old car and the yearly cost of your premiums equals or over 10% of your car's book value, just let go of the collision or comprehensive coverage. You will be paying more in premiums than what you will get to repair or replace your car.

7. If you have two cars, don't get the rental-reimbursement coverage.

8. If you have auto-club membership remove the roadside assistance coverage.

9. If you have a reliable health coverage then you don't have to get the personal-injury protection and medical-payments coverage.

10. Make sure that your Auto Insurance company will use shop that you trust and use original equipment manufacturer (OEM) parts.

11. Always ask for discounts. Insurance companies usually gives discount if you also buy your other insurance from them like life-insurance or homeowners insurance.

Highest and Lowest Insurance for 2014 Vehicle Model

Insure.com has released the survey for the highest and lowest insurance rates for the 2014 model cars. They use information from the 6 leading insurance companies in all 50 states.

Jeep Wrangler Sport topped the cheapest 2014 models to insure at $1,080 annually while the Nissan GT-R Track Edition is the priciest 2014 model to insure at $3,169.

By states, the highest average insurance rates are Michigan which is number 1 then followed by West Virginia, Georgia, Washington, D.C. and Rhode Island. While the five states with the cheapest average rates is headed by Ohio followed by Maine, New Hampshire, Idaho and Iowa.

Cheapest 2014 models to insure:

1. Jeep Wrangler Sport - $1,080
2. Honda Odyssey LX  - $1,103
3. Jeep Patriot Sport - $1,104
4. Honda CR-V LX - $1,115
5. Jeep Compass Sport - $1,140
6. Chrysler Town & Country Touring - $1,140
7. Subaru Outback 2.5i - $1,144
8. Dodge Journey SE - $1,149
9. Honda Odyssey EX - $1,149
10. Dodge Grand Caravan SE - $1,158

Priciest 2014 models to insure:

1. Nissan GT-R Track Edition - $3,169
2. BMW M6 - $3,065
3. Mercedes-Benz CL550 4Matic AWD - $3,019
4. Mercedes-Benz SLS AMG GT - $2,986
5. Porsche Panamera Turbo S - $2,970
6. Audi R8 5.2 Spyder Quattro - $2,917
7. Mercedes-Benz G63 AMG - $2,887
8. Audi A8 L 6.3 Quattro - $2,869
9. Jaguar XKR Supercharged - $2,854
10. Jaguar XK - $2,610

10 States with the Lowest average auto insurance rates:

1. Ohio ($926)
2. Maine ($964)
3. New Hampshire (963)
4. Idaho ($1,053)
5. Iowa ($1,058)
6. North Carolina ($1,060)
7. Wisconsin ($1,087)
8. Virginia ($1,114)
9. Vermont ($1,149)
10. New York ($1,173)

Source: Insure.com

Flood Insurance – A Step Ahead

We have listened about many insurance schemes for car insurance, life insurance, dental insurance, home insurance, boat insurance and health insurance etc. But an insurance scheme has also been launched by The National Flood Insurance Program. It is having its agencies which also regulate the work of providing insurance for flood claims. At most the places anyone can get flood insurance from where they get home insurance but where this facility is not available at that place NFIP get active. They provide reasonable quotes for the flood insurance. For excess coverage NFIP provide different schemes and it is especially for the prone areas which mostly get affected by floods. There are two kinds of policies for the floods: • Primary flood insurance • Excess flood insurance In primary insurance they give coverage of $250000 for home $100000 for contents and $500000 for business. This coverage is not too huge as they are good for small houses but for large empires and multistory houses this amount is not so sufficient and a huge amount will go from the owner’s pocket. So, more investment is needed especially in flood prone areas. In cases of excess flood insurance the amount invested is huge and the coverage is also up to a larger extended. They take the responsibility of rebuilding the house and also cover the loss caused by the flood. One should definitely go for excess flood insurance scheme if he or she is having a greater danger of flood and that amount does not come under the NFIP guidelines. One should always play a safer game and get best out the deal. Only searching for the lowest quotes is not intelligent in every case. One should look for the security too. If the risk is higher then there is no harm in investing more as in case if you will suffer some tragedy you will not suffer any loss and you will also live a relaxed and tension free life. So always go for some thing new and never feel hesitation in investing in insurance schemes as they will secure your future only. Even if you are not interested in investing right now then also don’t miss a chance to gain knowledge out of it. Who knows at what time in future you will be in need of such insurance in future. Its better to be aware and gain knowledge at every point in life.

Cheap Car Insurance

The reason behind this is the increase in the number of accidents in these states. U.S. is among the most populated city which makes it necessary for the government to take essential steps to avoid the accidents and mishaps and protect the citizens. There are lot of companies and establishments in the United States due to which people living here has their own car and its insurance. If a person own a car and has a valid license plate, then he must have the car insurance.

If one has the city auto insurance, then the individual can cover the cost of medical expenses and damage that has been caused during the accident. Thus, the person does not need to pay the bills from his pocket at the time of financial crisis. The huge costs will be covered by the insurance. A new law has been passed which makes it compulsory for the automobile owner to have the automobile insurance. Since, this has been made compulsory so people try to get the automobile insurance at the low rate. There are various ways by which you can get the cheap car insurance. Insurance companies are present in the market that offers the outstanding customer services; insurance policy at the low rate and good premiums.

By making research for the multiple insurance quotes from different companies and then comparing them, you can get the best automobile insurance at the low rate. Internet is the best medium to get the quotes. You can make the search online to get the best deal. Also, you can instantly compare the automobile insurance affiliate. For getting different insurance policies from the best insurance companies, you can customize the auto insurance feature.

Buy Long Term Insurance

instance when purchase daylong constituent tending shelter was evenhandedly easy and pretty cut and dry. Times have changed for this particular type of shelter and anyone considering purchase it would do substantially to clear some instance work carriers and news levels as substantially as premiums.

Generally speaking, the outlay for a nursing bag resident today is about $71,000 annually, which works discover to around $200 a day. The outlay for non-resident, aided living comes in at around $32,000 a year, or $88 dollars a day. In both cases, that is a lot of money over the instruction of time.

The major reason grouping want to acquire daylong constituent tending policies is so they crapper protect their assets in the event they requirement to clear for nursing bag occupancy, aided living expenses, or bag tending expenses. Those who do not have this type of shelter are often forced to liquidate their assets in visit to intend the tending they need. For many grouping this means selling the home, cashing in on retirement funds, and depleting fund accounts.

On average, if you have more than $300,000 in individualized assets, you haw want to countenance into daylong constituent tending shelter as a means of protecting yourself.

The age in which you purchase these types of policies is important. A person who is fifty-years-old haw clear $2,000 for a policy, while a seventy-year-old haw modify up paying as such as $8,000 or more for the same policy.
blame for the huge and rising individualized debt mountain that UK consumers have accrued.

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Car Insurance When Renting a Vehicle

When you rent a vehicle you will be surprised by the amount of taxes
and fees that you will pay on top of the rental cost. As you are checking out, you will be asked whether or not you want an insurance policy
on your rental vehicle.

This question may throw you if you are not prepared for it, because the rental agency agents are quite good at making it sound like you need the coverage to save yourself thousands of dollars in the event of a crash. Do you need this coverage, or is it simply an additional cost to put more money in the rental agency 's pocket?

What Is Covered

Answering this question begins with understanding what is covered by the policy. This will vary from rental company to rental company, but there are usually some similarities to these insurance policies. There are four basic types of coverage: loss damage waiver, liability insurance, personal accident insurance, and personal effects coverage.

Loss damage waiver covers your liability for damage to the vehicle if it is in a collision. This is not actually an insurance product, because it does not pay for the damage. Instead, it takes the liability for the damage off of you, as the renter, even if you caused the crash. The rental company 's insurance will cover the damage to the vehicle. Some exclusions apply to the waiver, such as accidents caused by off-roading, drunk driving, or speeding. This waiver will also usually protect you from being charged for the loss of use that the rental company suffers while making repairs to the vehicle.

Rental cars automatically come with some liability insurance, because the state law will require it. However, the protection is minimal. Because most drivers need more liability coverage than what comes with the vehicle, rental agencies offer liability insurance.

If you or your passengers are injured in a crash while driving the vehicle, your medical care could be covered under personal accident insurance. This is fairly affordable to add to your policy. However, you likely do not need it if you have health insurance.

Personal effects coverage, the final type of coverage, will pay for any theft of the things you are transporting in the rental car. Keep in mind that your homeowner 's or renter 's insurance policy probably already covers the theft of personal belongings, even while traveling.

Do You Need Insurance When Renting a Car

Before you sign up for the car rental company 's insurance policy, make sure you really need it. Some of the insurance products you already own may cover the same things that these insurance products will cover. Before you head out for your trip, call your insurance agent and find out what type of coverage you have when renting a vehicle. If you have collision and comprehensive coverage, you are probably already covered for a rental. However, if you only have liability coverage, you may want to consider purchasing the loss damage waiver when renting a car. When you call your insurance agent, find out if loss of use, towing, and administrative charges are covered if you were to wreck the rental.

Another place to look for existing coverage is with your credit card company. Many credit card companies that offer rewards programs automatically insure the rental cars rented with that card. This coverage is usually only for the rental vehicle itself, not for the people in it or the other vehicles on the road. However, this coverage combined with your existing liability policy and health insurance plan may be all that you need.

If after checking these two sources you do not feel that you have adequate coverage, then consider purchasing the insurance. While a crash is not that likely to occur while you are driving a rental car, it could, and not having enough insurance will end up costing you a pretty penny.

Insurance: Auto Insurance CentreInsurance: Auto Insurance Centre

compare auto insurance companies and the rates available to you? Then you need to check out the Auto Insurance Center at free-article-info.com/auto-insurance/auto-insurance/index.php. There are wonderful articles to read as well regarding various auto insurance topics. Find out how to keep your auto insurance rates low and the consequences of driving without vehicle insurance. The terminology surrounding auto insurance can be quite confusing at times. Auto Insurance Center offers a great section that explains all the terms in very simple language. This really helps to take the complexity out of deciphering the various terms involved with auto insurance quotes and policies. Hopefully, you will never be involved in an auto accident, but should it happen, do you know what to do? Go through the check list provided on the site to find out what items you need to carry in your vehicle for such incidents as well as the information you need to collect and share. Also find out the process for reporting the accident to the authorities and to your insurance agent. Auto Insurance Center allows you the convenience of entering all your information and then getting several great insurance quotes. This is the perfect way to find out who can offer you the very best deal on auto insurance without having to spend hours on the phone compiling the information yourself. They feature insurance quotes for every state so you are sure to find the valuable information you need.If you don’t find everything you need at Auto Insurance Center, you can contact them by phone or email. They offer a very friendly and knowledgeable customer service team that can assist you with any questions or concerns. In addition to auto insurance, you will find information on renters insurance, health insurance, and life insurance. The Auto Insurance Center offers consumers a great one stop resource for all of their auto insurance needs. The site offers quotes that allow you to compare prices, information on getting the best rates, and wonderful articles to help you stay on top of the events taking place in the world of auto insurance. All of this information is free to useArticle Search, so take the confusion out of your auto insurance needs and start using Auto Insurance Center.

Insurance: Auto Insurance

If you own any type of vehicle, then auto insurance is something you really should consider investing in. For many auto owners, it isn’t as choice as auto insurance coverage in mandatory in many states. It is also required if you have the vehicle financed. This is to ensure the lender will get their money should the vehicle be damaged in an accident.

If you own any type of vehicle, then auto insurance is something you really should consider investing in. For many auto owners, it isn’t as choice as auto insurance coverage in mandatory in many states. It is also required if you have the vehicle financed. This is to ensure the lender will get their money should the vehicle be damaged in an accident. There are two types of auto insurance coverage – full coverage and liability. Full coverage auto insurance means that the vehicle is covered regardless of who is at fault. This is great in the event that you are the party liable for the accident. It also covers you in the event that the other party doesn’t have coverage, regardless of who is at fault. Liability auto insurance only covers the cost of the other vehicles involved when you are liable for the accident. While full coverage auto insurance costs a little bit more, it does offer you the best protection.I addition to helping cover the cost of getting your vehicle repaired or replaced, many auto insurance policies assist with the cost of medical bills associated with the vehicle accident. This is very important coverage to have, especially if you don’t happen to have health insurance coverage. The cost of auto insurance depends on a variety of factors. They include your age, your driving record, the type of vehicle you are seeking coverage for, the state you are getting coverage in, the inclusions you wish to have under your auto insurance coverage. You can get better rates on auto insurance by keeping a clean driving record, having young drivers participate in a driving class, and combining your policy with another such as a home owner’s insurance policy. It is also a good idea to find out the safety rating on a vehicle before you purchase it. Many people have been upset after buying a sports car to find out the monthly insurance payment is just as high as the vehicle payment itself. Vehicles with additional safety features are generally going to have lower insurance premiums associated with them. Once you find out the insurance laws in your stateArticle Submission, start comparing prices offered to get great coverage at the best possible price.