Tuesday, September 8, 2009

Risks on the Road

In the current economy, families are being forced to cut cost from their finances even if it means late payments on their car insurance, or eliminating the insurance altogether. During the past year, several hundred thousand drivers have eliminated their car insurance or let the payment slides. The increase in canceling car insurance and insurance lapse is due to the sour economy and the rising auto-insurance rate. According to the Labor Department’s consumer price index, premium rose 3.8% in the past year.
For consumers who have no yet eliminated to lapsed on their car insurance payment, a good proportion have “stripped down their auto-insurance policies” and only having the absolute minimum level of liability coverage that is required to legally drive in their home state. The number of uninsured motorists in the United States is developing a major risk for everyone, those who are insured and those who aren’t. In the case of a hit by an uninsured driver, an insured driver would not be able to recuperate the cost of damage unless he/she sues the uninsured. If the insured wins, the uninsured lose their assets in the court judgment. As well, driving without insurance is illegal in 48 states and the District of Columbia. The only states that is legal to drive in without car insurance is New Hampshire and Wisconsin

Car Insurance Fraud

In today’s changing economy, more Americans are returning or selling their luxury cars. But there are some individuals who are enforcing creative tricks to cheat the automobile insurance companies. In some instances, people are abandoning their cars in ditches and on the side of the highway. They then hope to collect insurance claims after reporting their car stolen. This phenomenon has been growing in the Great Lakes region, New Jersey, California and Las Vegas.
With high unemployment, individuals can no longer afford to pay their monthly car payments. In Las Vegas, detective Menzie reported that he has witness four cars burned or abandoned in 24 hours. This type of automobile insurance fraud case first started in 2007 when gas prices were high. During the following year, 2008, the number of automobile insurance claim increased by 6% nationally. In Ohio, the Columbus Division of Fire reported 255 automobile fires in 2009 alone. While some were legitimate fires, at least 26 of the 235 fires were considered arson. According to the Coalistion Against Insurance Fraud, they deemed this type of behavior as “vehicle give-up” which is when “car owners set their vehicles ablaze, sink them in lakes or rivers, leave them for passers-by to find or sell them to chop shops, or groups that sell overseas.”

AIG Nearing a Deal to Sell Car-Insurance Unit to Zurich

American International Group Inc. is negotiating to sell a car-insurance unit to a major rival, Zurich Financial Services AG, and a deal could be announced as soon as Thursday.
The price tag for 21st Century Insurance could fall within the $1.5 billion to $2 billion range, according to a person familiar with the matter. The deal has been discussed for some time, and the talks between the two firms were reported in February.
If the sale were completed at that price, it would be the biggest that AIG has been able to complete since announcing plans to sell off assets to help pay back the government, which bailed out the ailing insurer last year. As As of April 8, AIG owed taxpayers $45 billion, part of an aid package of up to $173.3 billion.AIG is also trying to sell off other units, including International Lease Finance Corp., its aircraft leasing business, for which a second round of bids are due late this month, according to a person familiar with the matter. But the strategy of selling off assets has been hurt by the difficult economic conditions, which has winnowed the pool of potential buyers for some of AIG's most prized assets.A deal could also strengthen Zurich's hand in the U.S. car-insurance business. Zurich owns Farmers Group Inc., which manages the Farmers network of insurance exchanges. The exchanges serve more than 10 million households, making it one of the largest car- and home-insurance networks in the country.

Top 10 Car Insurance Savings Tips

1. Make sure all your cars are on the same policyMost insurance companies offer a “multi-vehicle discount” for customers who insure more than one car on the same policy.2. Insure both your car and home with the same companyAgain, this may qualify you for a discount called the “multi-line discount.” Most companies offer this savings as an incentive to get your home insurance business too.3. Have an anti-theft device installed in your carIf you take measures to ensure your car is less likely to be stolen, then some insurance companies will offer an “anti-theft discount” if certain anti-theft devices are installed.4. Ask about other discounts you might be able to getAdditional common discounts include the age, low mileage, occupational and auto club discounts, all of which could save you money if you qualify.5. Increase your deductiblesThe higher your deductibles, the lower your insurance premium — so raise them as much as you can. Keep it affordable though, because this is how much you’ll have to cover if you need to submit a claim.


You MUst INSUrance OF ur CAr BEFore Any DAMaging INSurance Will Keep u STYLish ANd SAfe

2009 Konigseder Porsche Carrera GT

2009 Konigseder Porsche Carrera GT

The Konigseder Porsche Carrera GT body kit includes a redesigned front bumper with new air vents, a new rear bumper and diffuser, a larger rear wing and new side skirts. Austrian tuner Konigseder keep the factory 5.7L V10 engine that produces 612bhp (457kW) and 590Nm of torque on this Porsche Carrera GT. The Konigseder Porsche Carrera GT comes with standard size rims and tires, original brakes and a modified exhaust system

2009 MANSORY Chopster Porsche Cayenne

2009 MANSORY Chopster Porsche Cayenne

The MANSORY Chopster Porsche Cayenne features also comes with the fully forged 11×23 inch mono block rims in turbine design and the Dunlop Sport Maxx GT-tyres sized 315/25/23 perfectly fit under the broadened Chopster wing. By the Mansory sport module for air suspension control, the XXL-wheels are additionally enhanced. If desired, the SUV’s centre of gravity can be lowered by 45 millimetres.
For more information about the exclusive refining programme by Mansory Switzerland AG, please visit the web site www.mansory.ch


2005 Opel Astra OPC

2010 Ford Tauru

2010 Chevrolet Impala

Auto Insurance Tips

When you really need it, you will be glad you took the time to purchase good car insurance. The purpose of the articles in this section is to prepare drivers with the right auto insurance policy before it is too late. Then, if trouble strikes, you and your family — and your family's finances — will be protected.

Everyone knows that car insurance can be expensive. However, in the Internet era, getting an online car insurance quote is fast and easy. With the resources and information we present here, it is easier than ever to compare auto insurance quotes. We will also tell you what differences exist between one auto insurance company and another. Basic coverage is described and comparative shopping strategies are clearly outlined. What about teenage drivers? We take a special look at shopping for car insurance for them. What if you have auto insurance but can't keep up with the expensive premiums? We might be able to show you how to continue getting the coverage you need while reducing your payments. And, finally, what about the mysterious type of insurance called "gap insurance"? This is a form of auto insurance that usually applies to leased cars. In some cases, however, a car buyer might also need gap insurance. We'll tell you when and how much to buy.

If you are on the fast track, and need car insurance now, we've boiled down all our information into the easy-to-read "10 Steps to Buying Auto Insurance." This series of short articles is followed by a checklist that will ensure that you won't overlook any important details as you get the best coverage available

Auto Insurance and Vehicle Accidents

There are more than six million car accidents each year in the United States. It is not as uncommon as you might think and you won't loose anything by preparing yourself a little for some bad luck. You can start with keeping a few things permanently in your car's dashboard like your insurance information, a pen, a notepad and a disposable camera.

No one expects a car accident; they are always sudden and happen really quickly. It's important to stay calm to handle the situation. It is easy to panic as an accident can be a very shaking experience. However there is always a need for someone to be calm and stay stable at such unfortunate events.

First you must give assistance to anyone who needs it, you much check if anyone is injured, and then call the emergency ambulance service (if required) and the police. .

Don't loose your temper; don't start blaming anyone at the scene and patiently wait for the police. Never discuss the accident with anyone till the police arrive. You must then give an accurate and fully detailed account of the events which lead to the accident to the policemen. You should see to it that your side of the story is properly heard.

Call your insurance agent as soon as you can and if possible from the scene of the accident itself. It would be of great help if you let the police officer do all the talking, who would most likely better explain everything to the insurance company.

You must gather as much information as possible about the accident. Making sketches of how it happened or even better; taking photographs can be really useful in claming your insurance. You must exchange personal details with the driver of the other vehicle, his name, his contact details, his address etc. You should never forget to take down his license plate number and more importantly, make a note of the type of vehicle and its vehicle identification number. This is important as some insurance company don't keep license plate numbers in their records.

Once you get back home and are all safe and sound. You must reread your insurance policy. You will find that it has three parts.

First there is the declaration which tells you the maximum amount payable by the insurance company. It also tells you of certain sub-features of your purchased policy like discounts etc.

The second part is your insurance agreement; this is what tells you the overall extent of your coverage, it tells you what your policy protects you against and what it excludes. It comes with a set of definitions for the different terms of the agreement. If for some reason, you fail to understand any part of the agreement you can call your insurance agent for clarification.

The third and the last of part of your policy are the conditions. These are basically a set of instructions which tells you what to do after an accident. They are simple to follow and are vital for keeping all your rights intact.

Top Insurance Company

Insurance Company is a financial company or institution which does the work of selling insurance policies of all types in order to hedge the risk of contingent future losses or damages or hazards.

These possible risks are not certain to take place in the future because future is uncertain. But a person cannot take a wait-and-see approach because it would subject them to sheer risk. If the casualty or damage or loss do happen then the person without any insurance would not get any compensation from the insurance company.

If a person buys an insurance against any future risk then in case of actual causation the insurance company would compensate for the resulting financial loss.

Issuance of insurance by an insurance company is not a free affair. Rather the policy holder of insurance is needed to pay a regular payment amount to the insurance company till its maturity. This amount is either repaid in entirety or in part to the insurance holder in case of occurrence of the hazard or casualty or loss. But it has been observed that many insurances are not claimed due to non-occurrence of the risk and thus the premiums paid by the policy holders become the profit of the insurance company.

Insurance companies offer insurances on the following categories :-

  • Life Insurance
  • Medical Insurance
  • Non-life or General Insurance

Non life or general insurance issuing companies can again be classified under :-

  • Standard Insurance Company
    This type of insurance companies generally issue insurances against commercial and residential related risks, automobile related risks and the risks associated with businesses. These are mainly standardized policies with minimum scope of customization in accordance with personal needs of the customers. The characteristic features of this type of companies include lower rate of premium and direct sales to the customer approach.
  • Excess Insurance Company
    This type of insurance company is involved in insuring the risks which are out of the fold of the Standard Insurance companies. These insurances are given to those persons who are not licensed insurers of the concerned state.

Monday, September 7, 2009


For residents of California, having a decent auto insurance policy is extremely important. The state is famous for its traffic jams and fast drivers, making insurance all the more crucial. If you’re interested in learning more about California’s auto insurance laws, check out this informative guide!

California Minimum Requirements

For most drivers, your main concern is meeting the state’s minimum insurance requirements. Compared to other states, California’s are reasonably low and your insurance coverage should reflect that. Here’s a look at the state’s requirements:

  • $15,000 for injury or death to one person in a single accident
  • $30,000 for injury or death to multiple people in a single accident
  • $5,00 for property damage

What Happens if You’re Not Insured

Should you ever get into an accident or get caught driving without car insurance in California, you could face stiff penalties. In fact, compared to other states, California laws are particularly stringent on drivers who do not have auto insurance. Here’s a look at some of the penalties you could incur:

  • Your vehicle’s registration may be suspended.
  • You could receive a citation from a police officer with fines costing up to $1,000.
  • Repeat offenders often have their vehicles impounded, in addition to other fines.
  • Of course, if you’re found liable for an accident, you’ll be forced to pay for any damages and compensation to other drivers.

Alternative Options

Unlike some states, you are not literally required to have an auto insurance policy in California. If you choose not to have auto insurance, you must comply with a different option that the state offers. Unfortunately, these options are not very realistic for most people. One choice is to leave a $35,000 deposit with the Department of Motor Vehicles, which would go toward paying for an accident if you were found liable. Another option is to apply for a self insurance certificate from the DMV, although they are usually only approved for those with large amounts of savings or high incomes. In the case that you simply cannot afford to meet the minimum car insurance coverage requirements, you may able to apply for California’s Low Cost Automobile insurance program. This option is mainly for drivers who have a low income, although they must have a good driving record as well.

The Cost of California Car Insurance

With all of the terrible traffic and jam packed roads, you might expect California’s car insurance rates to be one of the tops in the nation. Despite this common perception, the state’s premiums are not incredibly high. While it is still ranked in the upper echelon of states at #16, it’s not nearly as bad as some people would have you believe, probably thanks to its fairly low minimum requirements. The average cost of an auto insurance policy with liability, collision, and comprehensive coverage is close to $850, which is very much in line with other western states.