Secret number one
Standard insurance carriers run credit checks prior to giving you an auto insurance quote. These are referred to as Financial Responsibility Scores. The insurance agent can’t see the report but rather it goes through the system and simply tells the agent whether or not you are eligible to be written in that company. If you are not eligible, you can still get a quote but it will be with a higher rate. Although these are not the same credit reports as when you apply for a loan, the picture does affect your eligibility and your rates.

Secret number two
Any claim you’ve submitted in the past 10 years is visible to anyone in the insurance industry. Insurance companies have developed reporting procedures to inform each other of claims called an Auto loss history report. If you’ve submitted many exiguous claims or even one big claim, you’ll either be charged more or you won’t be eligible for a standard policy at all.

Secret number three
There could not be a more important secret. Never, ever let your insurance cancel. The most steadfast rule in the insurance industry is proof of prior insurance. If you are uninsured for over 30 days, you can bet on higher insurance prices for at least the next year. Not only will being uninsured put you into a higher premium bracket; you may have to stay there for a period of time before the company will believe lowering your rates.

Sure, there are benefits to keeping your business with the same company for several years but it’s also good to shop and compare pricing. By keeping these three things in line, you’re more likely to get the best rate possible.

I used to spend hundreds of dollars a month on auto insurance. I felt like I could barely afford it. Then I discovered Progressive. Progressive makes it so easy to capture and pay for car insurance. You can do everything directly from their website. You never even have to speak to a sales person. In fact, you never have to speak to anyone from the company. You can literally do it all online.

Every six-months I go to the Progressive website, enter in my personal information, and create my own custom insurance policy. Now I only pay $100 a month for car insurance. Every month Progressive automatically deducts my monthly payment, so I never have to disaster about paying on time as long as I have money in my checking account. Progressive will also allow you to pay for multiple months in approach at a discounted rate. For example, if I paid for all six-months of my policy at once, instead of paying $100 per month, it would only cost $549.

Progressive will insure just about anyone, too. A few of years ago I was dropped from State Farm insurance because I was in a couple car accidents (isn’t that why I pay for car insurance?!). Well, I had a lot of trouble trying to find a modern insurance company. Most companies wouldn’t insure me because I was dropped from my previous company. When I went to the Progressive website, I didn’t have any problems. I did have to pay a slightly higher rate for my first six-months, but after that my rate went benefit down. One time I was even dropped from progressive because I missed a payment (I wasn’t using direct deposit then), but I just went back to the website and signed up again.

No matter what insurance company you are using, you should switch over to Progressive. They make everything so easy and affordable. Even if you are completely content with your insurance company, you should at least go to the Progressive website and get a free quote. I’m determined it will probably be a lot less than what you are paying.

Most states now offer mature defensive driving courses designed to preserve driving skills bewitching. As is the case with Driver’s Ed, about two thirds of all states mandate insurance companies give policy discounts upon completion of these courses. Generally, the cost for these two day courses is less than $30.00 and may well provide a 10% discount on auto insurance for 3 years. Checking with your insurance agent, AAA, or AARP can find you information on where courses are offered in your state along with actual costs.

Seniors should carefully contemplate the vehicle being driven for a number of reasons. As a rule most insurance companies give discounts across the board for safety and anti-theft features, updating or upgrading could attach money over the long haul. Additionally, as we age our reflexes and reaction time slows, so now more than ever it is important for the car to be properly maintained and easy to operate.

One of the biggest money savers on car insurance is also the most distinct – avoiding accidents. Any driver regardless of age who is uncomfortable during clear conditions such as weather, darkness, or rush hour should simply just not drive.

Joining AAA, or AARP is well worth the yearly fee, not only will it save you money on car insurance in some cases, but it can also save on repairs. Always shop around for the best prices, or at the very least review your policy yearly with an agent to be sure you’re not missing any discounts.

Sources:
http://www.hometownquotes.com/auto-insurance-tips-for-seniors.html

http://www.sbaaa.com/Insurance/Auto/auto_insurance_senior_citizen_drivers.htm

http://www.seniorjournal.com/NEWS/Discounts/2007/7-06-28-SenCitCanFind.htm

Most of Geico Insurance customers now days were probably “Big Fans” of Disco music, support in the 1970′s. Simply because a lot of young people that live at home with their parents, have their car insurance under their parents name, thus in return most young people DO NOT pick car insurance. Using TOP name celebrities like “Peter Frampton” or “Little Richard” was a abominable idea for Geico. These celebrities must be “getting really hard up to accept such an act of stupidity!”

Ironically, what a lot of people DO NOT realize is how serious automobile insurance can be? If you hit someone with your vehicle and they are seriously injured. Most likely their attorney will file a lawsuit against you! Automobile accident lawsuits are filed against the driver that caused the accident and NOT the insurance company.

If you go to court, “Is Geico going to derive the caveman to represent you in front of a jury? ” I think not. Although attorneys are NOT allowed to mention the name of the insurance company during the trial, but can ask “Do you have any disagreements with Geico Insurance? ” during jury selection. The jury will then realize that it’s Geico Insurance who will pay the bill. “Hopefully the caveman will not be your attorney!”

The attorneys I have talked to, plot that Geico Insurance is not that bad about settling out of court. Unlike Statefarm and Allstate which will always go to trial for any injury, which we ironically seem to pay higher insurance premium prices for? These two companies do seem to have decent commercials regarding your car insurance policy.

Personally, I occupy that Geico needs to “Update” their TV commercials or advertisement campaign. At the present time, they are just taking up TV viewers time with nonsense and “stupidity” I am sure Geico pays these TV advertisement companies an enormous amount of money each year!

My advice for Geico, if they want to keep their existing customers, and possible future customers, is to do away with these “stupid” TV commercials and try something more modern. Perhaps using a parody of some kind taken from a movie? TV viewers still love entertainment and will most likely appreciate the creative change.

Thanks for reading,

Phillip Chambley.

It’s not that I had any sincere issues with Geico Insurance over the past 7 years. It’s unbiased the irony of having to pay so much money toward a service when you have no choice but to have insurance, regardless of whether or not I ever use the service. Geico came to the rescue when I hit that deer. Well, they were there to win my phone call at 3 o’clock in the morning and even arranged to call tow service to come to our relieve. Some accidents can’t be avoided, so when the car was totaled and money offered in its place, but not enough to effect up for the loss, your not sure if the money you were spending toward insurance would have better covered that and some. Oh well, rainy day saving is not an option—a good alternative to car insurance. Frankly I liked Geico’s coverage. I liked their service. I liked everything but the price. So I switched to progressive. As near as I can shriek I get everything I would with Geico, but for a lesser bill. I checked. The coverages match up. And believe it or not, the people on the phone are just as nice and willing to help if called upon.

Both car insurances offer free rock chip repair under my comprehensive coverage, my only other standard fix, given all the construction and gravel trucks on the road. But they both retain track of the claims made and a cramped too touchy for me to make such insignificant claims. I fair pay for that repair on the side for like $10, whereas when I tested out having it charged to the insurance, through their chosen provider, the insurance was charged $180. No wonder the insurance companies acquire uppity about some claims. But the point is that there isn’t a stark contrast between how either company handles these types of claims. Again, it is about the money just to carry the insurance, because all other things seem equal.

The strange thing is that Geico’s googley-eyed mascot isn’t saving me money. Progressive is. All State, American Family, State Farm, Countrywide and others all offer basically the same services, but say they can do it for less money. But I didn’t find anyone who is doing significantly better on that claim than Geico, except Progressive (and maybe Countrywide).

Major insurers like State Farm and Allstate recommend that homeowners re-evaluate their homeowner’s insurance policies annually to make definite their coverage is keeping up with home improvements, increased building costs and the addition of personal possessions.

A typical homeowner’s insurance policy covers damage of your home and loss of possessions from fire, hail, wind, water (except for flooding), explosion, vandalism and theft. Most policies pay for a portion of living expenses if the home needs to be repaired or rebuilt. It should also cover your legal liability if anyone in your household (including pets) causes harm or damage to other people or their property.

But not all policies are the same. The amount of your policy’s insurance limits and provisions should be based on your individual needs and preference, which can change from year to year.

If you are not sure if you have the fair amount of homeowner’s insurance, it may be time to evaluate what you do have. When doing so, you will want to consider:

1) The structure.

According to the Insurance Information Institute, a home should be insured for 100 percent of the cost it would take to rebuild the structure if it were destroyed. You may need to get an estimate of how much it would cost to replace the home before you contact your agent. (Some older homes may not qualify for the full amount due to higher replacement costs.)

Some companies offer an inflation guard clause that adjusts the structure limit when you renew your policy to include local construction costs.

If your home is badly damaged, you may be required to rebuild it to meet new building codes, which most policies don’t cover. Many insurance companies offer an ordinance or law endorsement that pays an agreed upon amount toward covering these costs.

You also will want to increase coverage if you originate improvements or additions to your house.

Standard policies do not cover floods. If your are in a flood zone, you can purchase flood insurance from the National Flood Insurance Program (www.floodsmart.gov) or a private insurer.

2) Living expenses after a disaster.

This part of the policy pays the additional costs, including hotel stays and restaurant meals, if you must live away from your home while it is being repaired or rebuilt due to a covered disaster, such as a fire or tornado.

Most homeowner’s policies provide living expense coverage for about 20 percent of the insurance on your house. Some companies also offer coverage that provides an unlimited amount of loss for a sure amount of time.

3) Value of personal possessions.

Take inventory of your personal possessions and create a detailed list of everything you own. You should include any information related to the cost to replace the items. The Institute of Insurance Information says that most homeowner’s insurance policies cover approximately 50 percent to 70 percent of the amount of insurance you have on your home.

If you think you need more coverage for your possessions, contact your agent and win a quote for higher limits.

You can either insure your belongings for their actual cash value or replacement cost, which pays the actual cost of replacing your home or possessions (no deduction for depreciation) up to your policy’s limit.

4) Liability protection.

This coverage defends you against lawsuits for bodily injury or property damage that you, your family members, guests, or pets cause to other people. It pays for your court defense and for any damages you may be required to pay.

While most homeowner’s insurance policies provide a minimum of $100,000 worth of liability insurance, the Institute of Insurance Information recommends homeowners have at least $300,000 to $500,000 worth of liability protection.

If your property or investments are worth more than the liability limits in your policy, you may want to purchase an excess liability or umbrella policy.

Trying to choose just how much insurance coverage you need for your residence can be confusing, but with a few phone calls and a microscopic investigative work, you could save a lot of money — and gain peace of mind — when you need it most.

Sources:
www.iii.com
www.allstate.com
www.statefarm.com

On average, women have lower automobile insurance premiums than men because they are considered safer drivers – whether that is the case or not. Before you decide on an insurance company, shop around and get several quotes. You may find that some companies give much better insurance rates to women than others.

Driving records are very important when shopping for automobile insurance premiums. Do not underestimate the value of a clean driving record. Know what your driving record is and employ this knowledge to negotiate a lower insurance premium. Again, make determined to derive quotes from several companies, because there are some insurance companies that will give more of a discount to drivers with clean diving records than other companies.

Be wary of raising your deductible to lower your automobile insurance premiums. If you do not have the funds set aside to cover the deductible, this can present a problem if you are involved in an accident that is your fault and you have a lien on the vehicle. (This one is from my own experience and I never did get the damage repaired). The insurance company will pay for the repairs but the amount paid to the repair shop will be less your deductible. This could do you in a position of not being able to repair the vehicle if you do not have the funds to pay the deductible. It is better to have a deductible that you can afford.

Know what your state’s requirements are for the minimum coverages you are required to have on your automobile insurance. You can check each state’s insurance requirements at the National Association of Insurance Commissioners website. Also, make sure that you do some research and become familiar with the types of insurance coverage available and what each type of coverage means with regard to protection and liability. When shopping for insurance for the first time, the terms may be confusing – - ask questions if you do not understand. It is grand better to ask questions than make mistakes with your coverage.

They are even more vexed by the preposterous thought that some highly paid strangers sitting in Manhattan’s high rise offices were surreptitiously able to design telephonic contracts worth billions with accomplices hiding in offshore money laundering havens – all guaranteed on the humble mortgage payments of a few hundreds they were making to their neighborhood banks.

As if that ignominy is not enough, now their money is to be used to compensate for such speculative misadventures of not only American investment banks but of whoever bought into those dubious schemes from beyond the oceans too.

No wonder the European Central Bank’s (ECB) chief Trichet wants the American Congress to pass the bailout bill “for the sake of the U.S. and for the sake of global finance.” But, he also rules out a European bailout conception on the excuse that Europe doesn’t have a central budget. Then, what is the job of the organization ECB he is heading? The truth is that Germany and France are torpedoing a 300 bln euro plan suggested by other members of EU.

Economic Data:

Institute for Supply Management’s (ISM) Manufacturing Index for September – fell by 6.4 to 43.5 from 49.9, the lowest in seven years. The consensus was for 49.5. ISM prices paid excluding crude oil fell by 23.5 to 53.5 against a consensus figure of 73. The first reading shows that manufacturing activity is contracting. The second indicates that people have made a sharp crop back in spending on purchases, though some may claim it shows inflation is disappearing! However, if prices were easing, people should be buying more.

The ADP employment index of private sector jobs for September – showed a loss of 8000 jobs in the private non-farm sector against the forecast of 60,000-job loss. It was 37,000 in August. Unfortunately, ADPs figures usually are far off the mark compared to government employment report on non-farm payrolls data to be announced on Friday.

Challenger Jobless Picture – at the same time, announced 95,094 layoffs during that period.

The U.S. Census Bureau’s (Department of Commerce) Construction Spending for August – stood unchanged at $1,072 billion against a forecast figure of 0.5%. That shows a halt, even if temporary, in the relentless slide witnessed throughout 2008.

The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey – showed a 23% drop last week. The refinance index also fell 34.7%. The Conventional Purchase Index decreased 9.7 percent while the Government Purchase Index decreased 14.1 percent. This entire shortfall, despite interests on 30-year and 15-year fixed-rate mortgages decreasing week by week!

Senate’s deliberations on the bailout:

Senate voted on its version of the $700 bln plan this evening. Salient clauses include:
*provisions for an increase in the FDIC’s deposit insurance limit to $250,000 from the present $100,000
*tax breaks for businesses and especially to alternative energy ventures
*Removal of $30 bln limit on FDIC enabling it to borrow an unlimited funds from the Treasury
*authorized the Treasury Secretary to catch bad assets of companies to clean up their sage books
*requires government agencies to make modifications to troubled mortgages.

The bill now goes to the House of Representatives for their concurrence, expected by Friday.

SEC ban on short sales is likely to be extended to October 18, beyond the current expiration on October 2.

Weekly EIA petroleum reserves report – Vulgar oil inventories were up by 4.28 mln barrels far exceeding the forecast of 2.75 mln. Gasoline reserves increased by 901,000 against a consensus shortfall of -2.05 mln.

Oil retreated by -$2.11 (-2.10%) to $98.53

Gold rose by $6.50 (0.74%) to $887.30

CBOE Volatility fair made it to 39.81, disturbed of the 40 mark by 0.42.

Uncertainty over stocks back in the air, investors again made a beeline for Treasury securities.

Market indices

Dow went UP by -19.59 (-0.18%) to 10831.07
S&P 500 UP by -3.68 (-0.32%) to 1161.06
Nasdaq UP by -22.48 (-1.09%) to 2069.40

NYSE

Daily Volume: 1.29 bln
A/D Ratio: 1591 stocks advanced against 1614 declined
52-week Hi/Lo: 10 stocks scaled new Highs while 191 slid new Lows

NASDAQ

Daily Volume: 1.91 bln
A/D Ratio: 1068 stocks advanced against 1820 declined
52-week Hi/Lo: 7 stocks achieved new Highs while 153 dipped to current Lows

The first half of the trading session saw the market falling due to uncertainty surrounding the bailout legislation and the negative economic data. Then came the news on GE in quick succession and pepped the market up disappointing manufacturing reading and news that Warren Buffett is making another major investment.

Trading in GE was temporarily halted as the news of their $12 bln in a public offering started coming in. Then came the encouraging news of Warren Buffet’s purchase of $3 bln worth of 10% preferred stock. His holding company Berkshire Hathaway (BRK) also have rights to $3 bln in 5-year warrants to purchase GE at $22.25 per share.

Then the market heard the “Oracle’s prophesies” on GE’s excellent prospects. This was added to by the credit rating agency Standard & Poor’s who re-affirmed GE’s credit rating of AAA.

That was the shot in the arm the market needed. GE was languishing recently due to liabilities from the debts of GE Capital.

Peaceful blue chip IBM (IBM) fell by more than 6% based on rumors of the company issuing further reduced guidance on its earnings.

President Bush finally approved the $25 bln loan package for automobile manufacturers for meeting the new fuel economy standards. Now the ball passes to the Energy Department to work out the rules and regulations to be presented to the Congress sometimes next year for approval.

Monthly sales of car-makers are declining:

Lexus -37%
Ford -35%
Toyota -32%
Hyundai -25%
Honda -24%
GM -16%

ImClone (IMCL) finally revealed the name of its mysterious bidder. It is Eli Lilly with a $6+ bln offer on ImClone @$70 per allotment.

JNJ won their $1.2 bln patent infringement cases against Boston Scientific (BSX) and Medtronic (MDT).

Marathon Oil (MRO) is disposing off its 50% stake in Pilot Travel Centers.

Xstrata (XSRAF) is ending its $9 bln bid on Lonmin Plc (LNMI.Y).

Chicago’s Midway airport is to be leased to a private consortium led by Citigroup (C) for a 99-year period .

When most businesses are looking for ways to downsize, consumer retailer Kohl’s Corporation (KSS) is opening 47 new stores in addition to the 31 already opened this year.

Company results:

Wolverine World Wide could bring out 15% increased earnings.

Micron Technology (MU) earnings were disappointing.

Analyst’s ratings:

Company stocks upgraded include:

Allied Capital Corp (ALD), CA Inc (CA), Children’s Place Retail (PLCE), eHealth Inc (EHTH), Energy Solutions Inc (ES),
F5 Networks Inc (FFIV), Force Protection Inc(FRPT) and Informatica Corp (INFA).

Downgraded stocks are:

Brown Shoe Inc (BWS), California Pizza Kitchen (CPKI), Coleman Cable Inc (CCIX), Community Health System (CYH),
CSG Systems International (CSGS), Mortons Restaurant (MRT), Network Engines Inc (NENG), RC2 Corporation (RCRC),
Reliant Energy Inc (RRI), RLI Corp (RLI), Ruth’S Hospitality Group (RUTH), Tenet Healthcare Corp (THC), Tupperware Corp (TUP),
Universal Health Services (UHS) and Xyratex Ltd (XRTX).

Fortunately for the banks and their customers, the 28-day repo funding by the government is showing its beneficial effect:
The interbank overnight loan rate has fallen to 3.79% and is holding. Availability of more funds has loosened the credit situation a bit.

Pointers to the future:

* The U.S. national debt broke through the $10 tln price today.

* Unemployment is expected to touch 7% by the middle of next year, unless the next administration can work magic or miracles.

Insurance Companies Located in Idaho

Idaho is fortunate that it is served by a wide variety of automobile insurance companies ranging in from State Farm Insurance, to Farmers, GEICO, Progressive, Allstate, Titan Auto, and the Liberty Mutual Insurance Company. All insurance companies in Idaho are monitored by the Idaho Department of Insurance which is located in the station capital of Boise and all insurance complaints, questions and concerns should be directed through them.

State Requirements for Insurance in Idaho

Like most states, Idaho requires that all drivers, including motorcycles, on the road must have, at the minimum, liability insurance. This liability insurance must at least include $25,000.00 for injury or death of one person, $50,000.00 for injury or death for two or more people, and $15,000.00 for property wound, though most insurance companies will suggest to its motorists that the amounts insured should be higher.

Proof of this automobile insurance must be kept in the auto at all times and if you are found to be driving without it, you will be required to provide proof for one year if you are a first time offender. If a driver is found to be driving without insurance, their license can be suspended and a fine imposed by the judicial system.

The residence of Idaho does not require Uninsured / Underinsured Motorist coverage. Though, since January of 2009, Idaho has required that all insurance companies to include an uninsured motorist bodily injury provision unless the clients expresses, in writing, that they do not want such coverage.

Average Insurance Rates for Idaho

Based on figures, from the Insurance Information Institute, the average cost of automobile insurance for the Idaho driver was $564.00 for the year of 2007. This amount makes it roughly $230.00 less expensive than the national U.S. average at $794.00 for that same year to ensure your automobile.

This amount is only an average of insurance rates and the actual amount will depend upon the driver and their personal information, as well as the automobile itself. When applying for auto insurance, the insurance company may ask, and determine your rates, upon your age, past driving record, your education and profession as well as your marital dwelling. Idaho also allows insurance companies to determine your rates, as well as products offered, based on your personal credit history.

Factors that are important, when an insurance company is determining rates, also include the actual automobile that is being insured. The year that auto was made as well as the make and model that it is, is also information they will need. The amount you paid for your auto and the current condition that it is in now. Your insurance company will also want to know what safety features, such as a driver’s air bag, that might be included in you automobile.

Relatively speaking, Idaho is an inexpensive state to insure your automobile, but by keeping your driving record spruce and your personal credit history in good shape you will go even further in lowering your insurance rates.