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Showing posts with label .car insurance. Show all posts
Showing posts with label .car insurance. Show all posts

Theft Prone Cars and Insurance Premiums

Which cars are most stolen do you think? You will probably be very surprised with the answers provided based on statistical data. You probably think that if you were to steal a car it would be something worth stealing. You would most likely go for your favorite make and model. However, an auto thief wouldn’t really think like you in many ways.

First of all, they wouldn’t want to be keeping the car for long to care about its interior, exterior and how they would look cool in it. Most stolen vehicles are chopped up within a few hours of being taken that it is immaterial how they look. It is a business for them and they would look at the easiest ways of making money. If they wanted hard work they would get a job.

Every year around one million automobiles are stolen in the United States of America, according to National Insurance Crime Bureau (NICB). The total cost of these vehicles is around six billion dollars. According to FBI’s Uniform Crime Report a car is stolen every thirty second. Some of these autos have high security features and they still cannot stop thieves. 

How Do Auto Thefts Affect Your Car Insurance Rates?
This figure doesn’t include the costs of chasing after criminals, catching, putting them through trials and keeping them locked up. Also, it doesn’t include the costs to every motorist with a car insurance policy due to increased cost of insuring automobiles. Vehicle insurers have to recover the costs of claims somehow.
“Someone has got to pay for the losses suffered by the auto insurance industry and it is usually the policyholders” says Companies usually find a way to pass the losses to their policyholders. If your car is one of those makes and models that are favored by thieves your auto insurance rates are going to go up a little bit more. And you wouldn’t be penalized as much when you have a car with high security features like immobilizer, alarm and tracking device.

Which Are the Most Stolen Cars and Why?
Every year NICB reports their findings and these are the most stolen vehicles in 2012 with the number of reported thefts nationwide in the U.S;
1. Honda Accord: 58,596
2. Honda Civic: 47,037
3. Ford Pickup (full-size): 26,770
4. Chevrolet Pickup (full-size): 23,745
5. Toyota Camry: 16,251
6. Dodge Caravan: 11,799
7. Dodge Pickup (full-size): 11,755
8. Acura Integra: 9,555
9. Nissan Altima: 9,169
10. Nissan Maxima: 6,947

I am sure you were expecting different cars in the list like Lamborghini, Porsche or BMW. You have to remember that the list is based on number of cars stolen and not buy their value. Furthermore, there are so much more Hondas on the roads than Ferraris. Another reason why Honda continuously tops this list is because certain models are easy to break in. And their parts are valuable and easy to sell due to number of Honda automobiles in circulation and need repairs.

What Is Your Best Defense Against Auto Theft?

Sure, it helps to have the latest security features installed in your vehicle. This definitely deters the thieves. When they have cars that are much easier targets they would go for them. They don’t want to get caught after all. That is why you would get auto insurance discounts when you have good security and park your car in the garage overnight.

Common sense is still the best defense in many aspects. Thousands of motorists leave their car keys on the ignition and some leave the vehicle running. If you are not paying attention thieves will take advantage of it and go for your automobile. You should always take basic precautions like locking your doors and parking your car in a visible location instead of a dark corner. 
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Just Turned 25? Time to Look for a New Auto Insurance Policy

Insurance companies use various criteria to determine your car insurance rates. The age of the policy holder is one of the most important factors they consider. Since drivers over the age of 25 are less likely to have a car accident than teenagers and younger people, they get the best rates on auto insurance. If you just turned 25, then you should start searching for a new car insurance policy and take advantage of the cheaper rates right away.

Age and Other Rating Factors

Before you buy auto insurance, do proper research and try to understand how things work. First of all, you should know that insurance companies measure risk. The costs you will pay depend on a number of factors such as your age, gender, driving record, marital status, location and credit score. The type of vehicle you drive, as well as its year of manufacturing and the miles driven each year may influence your premiums too. Other factors include the driver’s experience, school grades, education, criminal record, claims history and occupation.

A Good Driving History Isn't Enough
Even with a good driving history, individuals who are under 25 pay more on car insurance. The good news is that there are many ways to lower your premiums and obtain substantial discounts. Getting multiple cars covered, taking defensive driving classes or keeping your vehicle in a secured area a night can help you save hundreds of dollars on auto insurance.

Know How Much Coverage You Need

One of the best ways to reduce costs is to buy the right amount of coverage. Although many states have minimum car insurance requirements, you should consider buying a more comprehensive policy. If you only purchase the minimum amount of coverage required, you might end up paying thousands of dollars from your pocket in the event of a car accident. Since auto insurance rates go down dramatically when drivers turn 25, you can afford paying more on a policy that offers great coverage.

Take Time to Compare
Saving money on auto insurance is easy for those who take the time to compare at least five quotes from different carriers. Whether you go online to search for car insurance quotes or you contact a few companies, be sure to get as many offers as possible. Look at the company's ratings, check its reputation and read unbiased customer reviews. When you compare quotes, consider both the price and the amount of coverage included in the policy you are interested in.

Other Insurance Tips
Increasingly, insurance company are offering discounts for adding safety features, approved alarms and other security devices on your vehicle. If you have both your home and your car insured with the same company, you will get even more discounts. For further savings, ask your insurance provider about low-mileage discounts and good driver discounts. Consider raising your deductible in order to make savings over the long run. Try to maintain a good credit score, join a professional group and insure more than one vehicle with the same car insurance provider.
- By Jessica Bosari
Jessica Bosari writes for The site empowers consumers by offering practice insurance tips and advice so they can compare auto insurance and get the best rate every time.

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