No fault insurance applies to state in which an insurance company will pay for minor injuries resulting from an accident regardless of who is at fault. It also means that policyholders can only sue it their case meet certain conditions.

Florida no fault insurance is intended to reduce the cost of auto insurance by taking small claims out of court. Several industries, particularly the insurance industry favors this system because it lowers legal fees which account for up to 15 percent of the cost of auto insurance.

In states that use the no fault insurance system of auto insurance, each insurer pays its own policyholders for minor injuries regardless of who was at fault in the accident.

Suppose Meg was driving to a rock concert with her roommate, her car was struck by another auto. The driver who hit did not have liability auto insurance. If Meg lives in a no fault state such as Florida, Michigan or New York, her policy will allow her to collect from her own insurer, even though the accident was not her fault. What is more, Meg’s roommate would also be covered under the no fault system if she sustained injuries.

Meg receives first party benefits which are mandatory coverage and vary from state to state under the no fault system. If Meg lives in a state that offers the most comprehensive benefits, she would also be paid for medical expenses, time off work, funeral costs (if the accident was fatal), and whatever other expenses she may have incurred.

The following states use the “true” no fault insurance system of auto insurance:

Florida Hawaii Kansas Kentucky Massachusetts Michigan Minnesota New Jersey New York North Dakota Pennsylvania Utah Puerto Rico

Choice No Fault

Choice no fault means the a person buying auto insurance can choose between the traditional tort liability auto insurance and no-fault insurance. Kentucky, New Jersey, and Pennsylvania use the choice no fault system.

Add-On

Policyholders in add-on states receives reimbursement for their losses from their own insurance company, but they are also allowed to sue the other policyholder at fault in the accident without restrictions. However the “first party” benefits a policyholder receives from her own no fault insurance company are not mandatory and the benefits may be lower that in the “true” no fault states.

Add-On States

Arkansas Delaware D.C. Maryland New Hampshire Oregon South Dakota Texas Virginia Washington Wisconsin

By: Richard Cunninghamm

About the Author:

Are you the victim of a high interest rate auto loan? If so, the following email discussion may help you. Read on:

DEAR LoanResources.Net:

I was very impressed with your article entitled “8 Point Checklist, Evaluating Online Lenders.”

I have tried several sources to refinance my auto. I only have 2 more years to pay $245.04 a month. I owe 4,414.00 on the car loan.

This may not seem like a lot of money but I would like a lower interest rate on my car loan which is now $16.4% APR.

I want to still pay it off in 24 months but at a lower rate so that I can use the money saved to help pay off other bills.

In my internet searches, the auto refinance loans required that you borrow more money than I need. I tried to search for unsecured personal loans on your website and they also required that I borrow more money.

I have a very good credit record and I am working to get some of my bills paid off.

Is there anything you can suggest so that I can get a lower rate auto loan for under $5,000? Any assistance will be appreciated.

Thanks. Geraldine W.

DEAR Geraldine:

Sorry I have not gotten back to you sooner. I took a couple weeks off to be with family…Thanks for the compliment on the article!

Anyway, I read your email and I do indeed have a suggestion or two that I’m happy to share.

A COUPLE THINGS INITIALLY:

1. First, you’re paying a very high interest rate at 16.4% APR for an auto loan! I’m going to assume that your statement as to your good credit is accurate. If that’s true, then you do indeed need to fix this.

2. Since you only need $5000, with the intention of paying it off in 2 years or less, I don’t think you should look for a refinance auto loan or a refinance on your home. Indeed, the bank is going to want to loan you much more money, usually at least $25,000. While a refinance or equity loan on your home does offer tax benefits, we’re only talking about interest on $5,000 over the course of 2 years. I have another idea you may not have considered.

HAVE YOU CONSIDERED?

Have you considered just putting the balance of your car loan on a credit card that has a lower interest rate?

1. Credit Cards are, indeed, unsecured lines of credit with financial institutions.

2. They are the perfect financial vehicle for a $5,000 transfer of debt, with added flexibility, and you should be able to find an interest rate between 9 to 11%, and better, on average.

3. IN ADDITION! Once approved, the bank will usually give you blank checks for balance transfers (sometimes they’ll just do it for you right over the phone)…,

4. AND GUESS WHAT? The majority of the time, the incentive interest rates on the balance transfers are EXTREMELY low; sometimes zero percent for up to 6 months to a year.

5. IN ADDITION! you can apply for incentive cards that provide rewards for your spending….free airline miles, cash back programs, etc. I use the American Express Blue, and I get cash back of up to 3% on everything I spend. So, for $5,000, 3% cash back, AMEX™ pays me $150.

How do you like them apples? The bank pays YOU to borrow money.

RECOMMENDED PLAN OF ACTION:

So, Geraldine, here’s what I recommend you do:

1. Go back to our website, and explore the credit card offers we’ve recommended. We’ve picked out what we think are the best offers, and there are a LOT of them, so think of it as a much needed shopping trip! Pay particular attention to our links for “incentive cards”. We have two pages of them.

2. Apply for whatever card or cards suit your tastes and needs. There are so many great reward cards. Limit yourself to only your imagination.

3. Get approved, receive card, and receive balance transfer checks.

4. Pay off loan to 16.4% bank!

5. Pay off credit card loan (with extremely low rate and incentives), at your leisure!

…And enjoy the fact that you just made an excellent financial move, saved money, made money, and gave yourself the flexibility to manage your debt on your own schedule…

Hope this helps…Let me know how it all works out.

We’ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

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Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

By: Tom Levine

About the Author:

The ability to compare auto insurance price is not only saves you a lot of time, but saves you a lot of money as well. To compare auto insurance online, you simply need to find a good auto insurance website which has a database of all the main providers.

You need to have some details at the ready and fill in a couple of forms and while this may take all of five minutes, it certainly a lot less time consuming than phoning multiple companies and racking up a huge phone bill and the process.

To save time, make sure you have the following details at hand. You will need the details about the car you want to insure, and various personal details about yourself. Car insurance premiums depend on a number of different factors including your age, sex and sometimes the location. Even more important is your degree of driving experience and whether you have any points on your licence or have made any insurance claims in the past.

Once you have all these details to hand, all you need to do is fill in the forms and you’ll be given a whole host of results which you can organize by price or by relevance and more.

Often you can apply for car insurance online. This will help to save even more time. Being able to track down the deal that is best for you is highly advantageous but just make sure you don’t rush into things too much.

If your driving record is particularly in the green, you may be eligible for a discount as well so might be wise to phone up the company that you have chosen just to confirm anything that you were not sure about before. Likewise, make sure that you read the small print and don’t end up getting into something that you will regret.

By: Ted Kripps

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If you have a business or if you are a large truck owner, then it is important for you to have some form of truck insurance. Not only is insurance required for small vehicles but also for large vehicles, such as trucks. You may be able to purchase some commercial truck insurance from a regular insurance company. When going to shop for truck insurance, please know all you need to know about the type of insurance that is need for what you will be doing.

Sometimes it is not always easy to get the right insurance policy. You need to carefully do research on the truck to make sure you are getting right kind of coverage possible. The commercial truck insurance should be able to cover not only just the truck but you and the cargo as well.

The guideline in each insurance company policy varies. They have what they will cover and for how much they charge to cover that area. That is why you need to do the work first before you buy the insurance.

You need to consider whether or not the truck will be carrying cargo in and out of state. That can cause a huge decision on what type of policy to purchase. You need commercial truck insurance to cover you, the cargo, and the truck whether it is in state or out of state.

The most important thing that you can do, is to make sure you do the research and investigation first. That way you will not fall short on your behalf. As most people will tell you that what you don’t know will hurt. So do the work and save your self the heart ache later.

You, as the trucker, must make every possible effort to choose the right commercial truck insurance possible. If you fail to get the correct insurance then there will be a problem that will cause you to have to pay a greater deductible. You may want to change your insurance company, but sometimes that do not work. There are things to just have when you have a large truck.

On an overall basis, you need to do your research completely. You need to make sure that the coverage that you are paying for has everything that you need. Make sure that every inch of your truck is covered. That means the human itself and the cargo. What good is commercial truck insurance if it only covers a small portion of the truck?

The sure way to know that you have the right coverage or the right amount of coverage is to investigate the matter to the full extreme. Make sure that the coverage that you need is there in the policy. It is never too late to do something until it is completely done. So please be careful of the scams and everything that will steer you away from the best commercial truck insurance that your money can possibly buy. Just do the work and do the research. You will then be on your way to coverage.

By: Frank Rodriguez

About the Author:

Getting the right Fleet Insurance for your business can be a daunting task. Many insurance companies have a standard insurance policy for fleet owners. However, you can always ask the insurance company for a cover against a risk that your business is subjected to. Make sure the insurance policy that you take out provides adequate cover to both the vehicle and the person driving the vehicle.

When opting for fleet insurance, there are three levels of coverage available:

a) Third-Party Only
b) Comprehensive
c) Third-Party Fire and Theft

Third-party cover protects the business from damages incurred by a person other than the person employed by the business. In case your vehicle meets with an accident that was your fault, then the insurance company will protect you and the business from claims made by the third-party. At times, businesses take Third-party insurance only because it is required by law.

Third-party fire and theft will protect your business from damage caused to a third-party when the vehicle is stolen or is damaged due to fire. For example, if your vehicle is stolen and damages a vehicle of a third-party, then your business is protected from loss sustained by the third-party.

Comprehensive insurance provides insurance for the vehicle against most risks such as collision, vandalism, natural disaster and theft. Even though comprehensive insurance covers all major risk, you can always avoid certain covers if you feel the premiums are too high. So make sure you read the terms and condition of the policy opted for.

Most fleet insurance companies will offer you varied cover on your insurance policy. Find out the premiums charged in the insurance policy for the cover. If your business is not subject to a particular risk, then you can avoid taking cover for the risk. Some fleet insurance companies also provide extensions on your insurance policy. Some of the extensions offered are:

i) Breakdown Cover
ii) Legal Expanse Insurance Cover
iii) Windscreen Cover
iv) Courtesy Cars

These add-on benefits are given by some insurance companies free of charge to their customers.

The premium on your fleet insurance is dependent on the age and the history of the person driving your vehicle. So pay careful attention as to who is driving your vehicle, as you will receive a higher discount depending on the age of the driver. There are certain age restrictions followed by insurance companies; the higher the age restriction the higher will be the percentage of discount that you will receive on the insurance policy. Some of the age restrictions followed by insurance companies are:

A) Driver over the age of 30 years
B) Driver over the age of 25 years
C) Driver over the age of 21 years

If you are planning to insure an expensive vehicle then I suggest you opt for age restriction for just that vehicle. This will help you reduce the premium that you need to pay to insure the car.

Therefore, choose your insurance policy wisely and avoid obtaining additional coverage if your business is not subjected to a particular risk.

By: Paul Headley

About the Author:

Day by Day as the number of accidents keep on increasing, one or the other type of insurance is compulsory for a car. Insuring a car comprehensively is not an easy task. The present global economic meltdown will compel the people to go in search of an affordable auto insurance quote. Keeping the total expenditure in case of break down and accidents, insuring a car will always be a huge advantage (even if you forget the fact that it is a legal obligation).

Before you go ahead with any auto insurance plan, you must make sure that you don’t have any doubts in your mind, and agree that it is indeed an affordable auto insurance quote. Definitely, you may not accept some of the advantages, claimed by premium insurance companies. And also the auto insurance, which is nit cheap, is not meant for all. Following tips can be practiced and tried in order to make the premium insurance look lot more affordable.

To move inside the city, use the public transportation like buses, trains, ferry and taxi. As a result, the daily usage of your car will be reduced, and a lower premium amount will be offered by the insurance company. Vehicle should be driven safely by the driver/owner. If you’ve maintained a clean driving record in the previous five years, definitely a very big reduction in the premium of insurance of the car can be expected, otherwise joining an advanced course or safe driving course will also help in reducing in the premium rates.

In your car, some safety devices should be installed like central door locking, and probably even the advanced ones like GPS tracking device and a motion arrester, which may be helpful in preventing accidents. Before signing on the agreement all these should be disclosed to the insurance company and you can expect that the premium rate will be reduced to a good extent. Remember, the deductibles should be increased. Greater the deductibles, more the affordable auto insurance quote will be. By increasing it to 1,000 US Dollars APR may be saved by 30%.

By: Lana Leicester

About the Author:

Recently a motor insurance company conducted some research into it’s customers and was able to determine that certain age groups have an affinity to certain car types. This research was able to pigeonhole certain brands to age groupings partially because the particular age group was only able to get car insurance on that particular class of vehicle. Obviously the richer and later in life people get the more money they potentially have to spend on a car and its corresponding insurance.

With younger drivers, Fiat and Peugeot cars were most popular with the average driver age being 31 and 32. This is pretty much a given as smaller engine models such as the Fiat Punto and Peugeot 106 are popular first cars for many younger drivers and much easier to get insured on.

Minis were also popular amongst younger drivers with their average age being 33 years old too, the marketing of these vehicles tend to appeal to younger drivers too which may also contribute to the choice of vehicle.

More mature drivers choose the type of car you may already expect, being Volvos and Jaguars. One surprising statistic is that the Nissan Micra only had an average of 35, and in the motoring industry this is regarded as a car typically driven by the grey hair brigade. Larger older vehicles such as Jaguars have classic high cost parts which would cost a lot to replace and so car insurance on some of these older vehicles will be understandably higher.

Despite it’s image in recent years of being the ultimate in celebrity excess, Mercedes-Benz has an average age much higher than the typical movie star and is considered to have the same age driver as the Jaguars and Volvos. This is something that stars like Britney Spears who drives a Mercedes SL500 and Jim Carrey, with a McLaren SLR, will no doubt be rather embarrassed about.

But the most obvious result from the insurance survey is what car type tops the list of the mid-life crisis crowd, the Porsche. Porsche cars like the 911, Boxster and Cayenne all have an average age of around 39. As the old saying goes, if you know you’ve hit your mid-life crisis when you buy a guitar, get a girlfriend half your age or buy a Porsche.

So in this research the insurance companies have found some drivers fit their stereotype but interestingly some did not. Obviously there will be some that don’t follow the trend and will have a different car but more and more we are seeing people buying cars that will get them cheap car insurance as opposed to turning heads on the high street.

By: Andy Adams

About the Author:

Car insurance is a business. They want to make money. An insurance company makes it’s money by selling policies and hoping you don’t have to cash in. The odds are in the insurance companies favor, most people will never have an expensive claim. So how can we even the odds? There are ways. Low car insurance is obtainable if you shop smart and follow a few important tips.

Low car insurance rates are available at big name companies, but some of the lowest rates are found at lesser known companies. These smaller companies have to keep their rates low to stay competitive with the big dogs. The smaller companies may not offer frills like rental car reimbursement or roadside assistance, but they won’t charge you for them either. Big companies make it sound like they are throwing these helpful goodies in for free, but you are actually paying for them. If you want to go with a well known insurance company, ask for them to remove the extras from the policy and adjust the price accordingly.

Check you credit score. Believe it or not, your credit does affect your car insurance rates. If you have bad credit, you are considered high risk. Your rates will reflect this. Low cost car insurance is more available for people with good credit, but if your credit is hurting, all is not lost. Work on raising your credit score and watch those rates fall.

Several times throughout the year, insurance companies will compete against each other by lowering their prices in hopes of getting customers to transfer their accounts. Unfortunately for us, they do this relatively quietly, but we can benefit at certain times of the year by taking advantage of low car insurance rates. Shop for low car insurance during the peak sales events for cars. Mid summer and late December, car dealers are trying to get rid of older stock. Insurance companies want a piece of the money pie also and give great rates during these times. Ask for car insurance quotes from several different companies during this time and you will be pleasantly surprised at the savings.

There are a few other ways to save big. Paying your bill annually will save money. You won’t have to pay extra service charges for quarterly billing. Many companies fees are around four to five dollars each time a bill is sent. Typically insurance companies raise their rates every six months or so. this rate is minor to the consumer, but multiply it by 100,000 customers and the added revenue is substantial. You will save yourself a few dollars by skipping the bi-annual hike when you pay annually. Ask you insurance company what other discounts they offer. For example, taking a safe driving course, defensive driving course, and driving refresher course will qualify you for other possible discounts, sometimes up to 20%. Finally, occasionally ask for car insurance quotes from other companies to ensure you are still getting the best deal possible.

By: Mary A Duares

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Motorists with high value cars need to be on their guard as new data indicates that top end cars are increasingly at risk of vehicle theft.

Research from car insurance provider LV= shows that the average value of a stolen car claim rose by 38 per cent between January and May this year, compared to the same period in 2008. Compared to 2007 figures, there is a 44 per cent rise, suggesting that since the onset of the credit crunch, thieves have focused their efforts on vehicles with high values.

Which cars are most at risk?

According to a spokesperson for the insurance company, owners of Porsches, BMWs, and Jaguars need to be particularly vigilant with more thieves stealing high value cars and then selling them overseas.

London tops the list for worst places in the UK for car thefts. It is followed by Manchester, Birmingham, Cardiff and Leeds with Birmingham actually suffering the highest proportion of actual car thefts although it has one of the lowest frequencies of thefts from cars.

Worryingly, simply fitting a good security device to your car may not be enough to deter thieves. Many are breaking into properties in order to steal the owner’s keys and then make off with the vehicle.

How to protect your vehicle

Ensuring you have quality car insurance cover in place is vital. Make sure there are no exclusions to your cover. For example, don’t claim to park in a garage at night if you actually park on the street – if your car is stolen in these circumstances your claim will be invalidated.

Fitting car alarms, immobilisers and tracking devices can help you earn savings on your premiums as well as offering additional peace of mind. Make sure you keep your car keys in a safe place at night – well away from doors and windows where they could be easily grabbed by an opportunist thief. Also keep all items you carry in your car hidden in a boot or under a seat so there’s no added incentive for a thief to target your vehicle.

By: Alex Gregory

About the Author:

Most Californians already know that the state of CA has some of the strictest emissions requirements in the nation. These requirements show up in the sticker price when it comes time to purchasing a new or used car. By being a smart consumer you can be an expert negotiator when it comes time to talk about the price of the vehicle. In addition, you can use your research and car knowledge to help you find the best car loan in the Oakland, California area. Remember, knowledge is power and knowing the ropes of the car business before walking into the finance office can help you shave percentage points off your finance agreement!

Consumers are finding that used vehicles sometimes offer the best bang for the buck when it comes time to purchase a car or truck. The depreciation has been absorbed by the first owner and you can often purchase a much better vehicle in terms of features used than you might be able to afford new. Many dealerships that sell used cars participate in certified pre-owned programs which means the cars have passed a comprehensive inspection program mandated by the car manufacturer and may very well come with a warranty for at least the first full year of ownership.

When it comes time to finance the vehicle purchase don’t be afraid to go outside the dealership. Banks, credit unions and specialized auto finance companies in CA can sometimes offer you better interest rates than the dealers cannot match. When shopping for financing remember that the short the loan term and the more money you can put down on the vehicle in the beginning will mean a lot less out of pocket money you will owe in the long run.

Purchasing a car or truck can be a stressful experience for some, but arming yourself with knowledge before walking in the door will prepare you for cutting past the fluff and getting down to business when you find the perfect vehicle for your needs.

By: Terry Bolton

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