Category Auto Insurance

The 15 Cheapest Cars to Insure in 2015

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There’s a lot to take into account when buying a new vehicle. How it feels and looks is important, but how much it costs — including fuel consumption, potential resale value, and monthly auto insurance premium — is usually the deal breaker. To help buyers determine which cars are truly the cheapest, Cheapism.com turned to a recent comparison of insurance rates for more than 1,500 vehicles by Insure.com.

This list of the 15 cheapest cars to insure reflects the annual cost of full coverage by six major insurers for a 40-year-old male driver with good credit, a clean record and a 12-mile commute in 10 ZIP codes in each state...

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Some Strange, Surprising Truths About Car Insurance

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NEW YORK — A 20-year-old married male pays 21 percent less on average for car insurance than a 20-year-old single male, but 22 percent more than what a 20-year-old married female spends for the same coverage.

But don’t worry, he’ll get a better rate than the married female does when they both turn 30 — until, of course, they reach 56, at which point she’ll enjoy lower premiums again.

It’s all part of the complicated way that auto insurers factor in age, gender and other data when calculating how much you have to pay for coverage.

People are shocked when they find out how many variables go into car-insurance rates.


“People are shocked when they find out how many variables go into car-insurance rates...

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Who Lies More About Dings, Crashes and Tickets — Husbands or Wives?

Car scratches
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Men and women already bicker about which sex drives better than the other. Now they have another topic of automotive contention: who lies more about dings, crashes, and tickets?

Well, now we have an answer: A recent survey of 1,000 married adults by Insure.com revealed that men lie more than women when it comes to the car, regardless of whether the issue is as minor as a tiny dent in the fender or as big as letting the insurance lapse.

Let’s take a look five lies spouses tell.

The car got dinged? Wasn’t me! While 35 percent of survey respondents said they blamed someone else even if it their fault that the car got damaged, 42 percent of men had lied about it, versus only 27 percent of women.

Ticket? What ticket? More than twice as many men kept tickets a secret from their spouse:...

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How Insurers Secretly Target Lazy Shoppers for Higher Prices

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Have your auto or homeowner insurance rates been creeping up? If so, you may have been “POed.”

According to the Consumer Federation of America, some insurance companies are secretly “price optimizing” customers — charging them a higher rate for no other reason than they think the customer won’t shop around for a better deal. “Price optimization is a data mining tool used by insurers to charge higher premiums to those consumers least likely to shop for a new policy in the face of a rate increase,” says the federation.

How do they know whether you are likely to shop around? For now at least, that information isn’t public. “I don’t know what’s in the black box,” says Bob Hunter, director of insurance for the federation, which unites nearly 300 nonprofit consumer organizations...

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8 Car Insurance Myths You Should Send to the Junkyard

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From the old fiction about red cars costing more to insure, to the one about rates dropping when you turn 25, to the idea that “full coverage” means you get a new car after a crash, myths about car insurance abound. And they’re easy enough to take at face value — until you look at the facts. Not falling for these eight insurance fables could save you some cash.

1. “Full coverage” will get me a new car if I crash. Your auto repair shop may thank you for having collision and comprehensive coverage, because they’ll get paid by your insurer for fixing your car. But however you define “full” coverage, it won’t equate to you getting a new car after you crash. Insurance is meant to put you back to where you were, not improve upon it, so you won’t be getting a better car than you had.

If you...

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New Holiday Shopping Warning: Beware of Men in Parking Lots

Drivers Fill Out An Accident Report

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All those jokes about women drivers need an overhaul. At least when it comes to parking, men are the true terrors of the lot. Chances are that if someone hits someone or something or blocks a lane, waiting for someone to eventually pull out, the culprit will be a guy.

A CarInsurance.com survey of 2,000 drivers ages 25 and older found that, contrary to many stereotypes, men are the real danger in parking lots. About 37 percent of men reported they had hit another car, vs. 33 percent of women. Nineteen percent of men said they had hit a pole, and 12 percent a shopping cart, vs. 11 percent and 5 percent respectively for women. Eight percent of men (4 percent of women) had hit a cart corral, while 8 percent of men reported hitting a pedestrian. Only 1 percent of women had.

Another bi...

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Money Minute: Stocks Off to Rocky Start; Queasy Seesaw for Big Tech

Bad news for investors who believe in the January barometer.

A common refrain on Wall Street goes like this: as goes January, so goes the year. If that’s the case in 2014, watch out. Heading into the final trading day of the month the S&P 500 is down a steep three percent. Since 1929, this barometer has been right 73 percent of the time. The Dow is down even more — off 4.4 percent, or 728 points.

The market this week has been dominated by big moves by leading tech stocks. Apple (AAPL) tumbled Wednesday and dragged the whole market down with it. Facebook (FB) jumped Thursday, leading a broad rally. The spotlight today turns to Amazon and Google.

And Amazon.com (AMZN) may find the attention uncomfortable...

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Young, Male, Single – and Hit With Higher Car Insurance

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It’s common knowledge that car insurance companies charge different rates to different sorts of people — in particular, male people and young people. But it’s still news when it’s revealed just how much premiums differ.

Recently, the insurance rate experts at Bankrate.com (RATE) subsidiary insuranceQuotes.com did some digging into this issue. Crunching the numbers on car insurance rates in every U.S. ZIP code and canvassing 60 percent to 70 percent of the insurance companies operating within each such ZIP code, iQ highlighted age, gender and marital status as three of the most important factors affecting car insurance rates. Combined, they can cost one driver as much as 50 percent more for insurance than another, similar driver is forced to pay. Here’s how.

Age

The highest p...

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Texas AG demands ‘improper’ Travelers Insurance TV ad be taken off air

Texas AG demands Texas Attorney General Greg Abbott has ordered Traveler’s Insurance to stop airing what it considers to be a deceptive ad or face legal action.

The AG says the ad is misleading because it gives viewers the impression they should purchase additional car insurance or risk losing their home because they didn’t carry adequate automobile liability insurance.

The ad, “Drive Your House,” features a man driving his home through the desert when he’s distracted trying to answer his home phone. The man loses control of his car, sending him, the vehicle and the contents of his home – including his cat and prized souvenir baseball – flying through the air.

A man is then heard saying, “Without the right auto insurance, a crash might impact more than your car...

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10 Ways to Save When Your Teen Starts Driving

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We hit a milestone in my house this year. My oldest child turned 16 and, in theory, can get behind the wheel of a car and start driving solo.

I’m not sure I’m ready for that and, fortunately, she’s not either, so she still has her learner’s permit. However, I’ve been searching high and low for ways to keep my auto insurance rates reasonable once she joins the ranks of independent drivers. Here are 10 tips I’ve picked up along the way:

1. Invest in a Good Driver’s Training Program

According to th...

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