Category Auto Insurance

Walmart Brings One-Stop Shopping to Car Insurance

Walmart Auto Insurance

walmart.com/AP

NEW YORK — Walmart (WMT) is bringing one-stop shopping to another area: auto insurance.

The world’s largest retailer has teamed up with AutoInsurance.com to let shoppers quickly find and buy insurance policies online in real time to cut down costs.

The service is available immediately in eight states — Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee and Texas. It will be available nationwide in the next few months.

Shoppers can go to autoinsurance.com or access the site through Walmart’s website at www.walmart.com/autoinsurance.

AutoInsurance.com, a division of Fort Lee, N.J...

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5 New Ways to Save Big Bucks in Managing Your Money

A stack of bundled of 100 US dollar bills

Lauren Burke

There are countless startups sitting on mountains of venture capital money and promising to change the world. Most journalists have focused on the world of payments, and that focus only increased with the launch of ApplePay. But ApplePay offers convenience, not value. While it is fun using an iPhone at a checkout (if you are lucky enough to find one that accepts ApplePay), it certainly won’t help you prepare for retirement.

Technology is finally being used to transform consumer financial services in a dramatic way. You no longer need to settle for 0.01 percent on your savings account. It has never been easier to shop for cheaper auto insurance. You don’t have to pay 25 percent interest on that store credit card...

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Why You Should Let Your Car Insurance Company Ride Shotgun

Car keys on top of insurance form

Tired of paying too much for your car insurance? If so, you’re not alone.

According to J.D. Power, car owners got hit with average increases of 35 percent — $153 — on their car insurance premiums last year. And that was up from an increase of $113 in 2012.

As rates reach for the sky, more car owners are reaching out for options to control their costs. And according to consumer financial website NerdWallet, one option you should look hard at this year is usage-based, or “pay-as-you-go” car insurance.

The 411 on Usage-Based Insurance

Usage-based insurance is a relatively recent innovation...

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Umbrella Insurance Policies: Why You Might Want That Extra Protection

Car accident umbrella insurance
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Dan Ramsey, an independent insurance agent with Brandt, Ramsey and Associates in Alexandria, Va., says the most memorable claim on an umbrella insurance policy he was involved in was made by a small business owner who had purchased a $2 million policy.

“After attending a Christmas party, my client got involved in a fatal auto accident where the other driver was killed,” says Ramsey. “My client was given a breathalyzer on the scene and exceeded the legal alcohol limit. He was sued for something like $1.25 million by the claimant’s family and was legally liable for the damages, which were paid by the umbrella policy. The client was otherwise an upstanding citizen with no past history of these kinds of events.”

Protection Beyond the Usual

While its easy to assume that only a ri...

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How Bad Credit Could Be Doubling Your Car Insurance Bill

Red car side view hood damaged in auto accident
Alamy

You’ve probably heard by now that in some vague way, your credit rating has something to do with the premiums your auto insurance company charges you for coverage. But if you’re like me, you’ve probably never quite understood the details of how this work.

Fortunately, the good folks at InsuranceQuotes.com — a subsidiary of Bankrate (RATE) — recently published a report that draws back the curtain on this little-understood quirk of the insurance industry.

Blame it on FICO

Used to be, the rate you paid for insuring your car was tied primarily to demographic and personal factors that were clearly connected to the risk that you’d damage your car and ask the insurance company to pay for it: things like your age, sex, marital status, and driving history...

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Driving Drunk: One of the Most Expensive Mistakes You Can Make

Drunk Driving
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Once you’ve had your license for a while, it’s easy to forget that driving is a dangerous business. Recently, a spate of fatal crashes across the country have drawn renewed attention to the fact that car accidents are the top killer of U.S. teenagers. And for those who drink and drive, the dangers are also incredibly high: in 2011, 31 percent of traffic deaths — and 2.5 percent of deaths overall — were caused by drunk driving.

But even for those who manage to avoid getting into an accident, getting caught driving under the influence can have steep financial consequences. Recent research by CoverHound, a company that compares car insurance rates, revealed the economic costs of drunk driving...

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Why I’m Glad Your Renters Insurance Was Canceled

A photograph of a burglar outside a house at night.

Getty Images

I saw a segment on a news show recently that highlighted a family whose insurance company had canceled their renters policy. The family in question filed two claims against their policy over the holidays, after burglars broke into their home before Christmas and again just before New Year’s. As a result, their insurer dropped them.

Of course, the timing was horrible, and the local media covered the story exhaustively. But I’m glad the insurance company canceled their policy, and you should be happy, too. Here’s why:

What are the odds of a family having two robberies in such a short span of time? It’s very unlikely. In fact, such unusual circumstances are strong warning of potential fraud...

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What You Don’t Know About Auto Insurance Could Cost You

Car, key and money

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NEW YORK — You have some very funny ideas about car insurance, but none of them are all that helpful — or even correct.

According to an August survey of 1,000 adults conducted for insuranceQuotes.com by Princeton Survey Research Associates International, many of you have little idea what you’re signing up for when you take out a auto insurance policy. Don’t believe us? Well, let us as you a question: Does owning a red car increase your auto insurance rates?

No, no it doesn’t. However, that didn’t stop 44 percent of you from believing that it does — as if highway patrols are keeping a eye peeled for any red Dodge Neon from the 1990s that goes puttering by...

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Everyone Gets an ‘F’ in Car Insurance 101


(Alamy)

Think you know your car insurance coverage inside and out? You’re probably fooling yourself. According to a recent survey by Insurance.com, consumers who said they had an “excellent” understanding of their policy actually scored the lowest when quizzed about their car coverage with an average score of 26 percent.

Not that the less-confident among us are doing that much better.

When divided into subgroups by age, gender, geographical region, or self-described expertise, no group scored higher than 39 percent on the Insurance.com quiz. Across all test takers, the average score of 32 percent earned the equivalent of an “F” for everyone.

Those weren’t essay questions they had to answer, either: We’re talking about 10 multiple-choice questions here.

Slicing and Dicing the Results

Ther...

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Who pays when a valet damages your car?

%image_alt%Have you ever wondered what happens to your car after you turn the keys over to a valet? If you’ve ever found damage to your car after letting a valet park it, you know that it can be hours of phone calls before you get even the basic information you need to file a claim. Also you may find it difficult to prove that it was the valet who did the damage.

Well folks who parked at the Hyatt Hotel in downtown St. Louis may have a very strong case to prove damage when someone calling himself “valet underground” posted dozens of videos on YouTube showing a valet doing donuts, peeling out, burning out, revving engines and spinning tires in expensive cars, in the parking garage about six months to a year ago.

The general manager of the Hyatt hotel downtown confirmed to that it happened in his gara...

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