Category Auto Insurance

Worst drivers in America by state

%image_alt%Whenever I ride in a taxi in New York City, I marvel at the intestinal fortitude of the drivers who navigate pedestrians, potholes and other drivers who seem to have learned how to drive via a video game. And, according to a recent survey of driver knowledge by GMAC Insurance, it turns out that the awe these drivers inspire is justified.

GMAC’s sixth annual survey quizzed more than 5,200 licensed Americans from across the country on their driving knowledge and New York drivers fared the worst for the second year in a row, with an average score of 70 percent. That’s more than six percentage points below the national average score of 76.2 percent. New Jersey residents shouldn’t laugh too loudly at their neighbor’s expense. Garden State drivers finished second to last...

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When It Makes Sense to Skip Filing a Car Insurance Claim

Female Driver Making Phone Call After Traffic Accident

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NEW YORK — Drivers pay an average of 41 percent more for car insurance after making a single claim, according to the second annual study by insuranceQuotes.com.

Massachusetts continues to be the worst state to have an accident occur — just one claim leads to an average premium increase of 76 percent compared to 67 percent in 2014. The national average is up three percentage points this year, compared to the 38 percent increase found in 2014 (typically your premium won’t increase if you aren’t to blame for the accident, except in a no-fault state). The cheapest state is Maryland, which only increases premiums by 22 percent.

California also penalizes drivers for just one claim and increases rates by 75 percent, followed by 62 percent in New Jersey...

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7 Insurance Policies You Don’t Need

Mixed Race female veterinarian examining puppy

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You could almost insure every step you take in life — but you shouldn’t.

You could spend every available dollar you have on insuring against something bad happening. What’s the likelihood of something going wrong? What are the exemptions in the policy? And if you make a claim, will the payout be worth the cost?

That said, insurance can protect you, and having it can put your mind at ease. Life insurance, for example, is important to have if your family relies on your income. There are some exceptions to life insurance, but all depend on your situation and comfort level.

Putting life insurance aside, here are seven insurance policies you should consider canceling...

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10 Most and Least Expensive Vehicles to Insure

insure vehicleIf you want to shop for new vehicles based on insurance costs, you’ll want to go to www.insure.com for a list of comparisons. For now, though, we will give you the list of the 10 least expensive and 10 most expensive models.

Based on the list, it would seem that family haulers, especially minivans, are the cheapest to insure–even better priced than family sedans.

It’s no surprise, though, that the most expensive are the upper-echelon German and British cars.10 Least Costly to Insure

10. Toyota Highlander ($1,154.02)

9. Ford Escape ($1,150.26)

8. Toyota Sienna ($1,142.94)

7. Honda Odyssey EX ($1,138.16)

6. Jeep Wrangler ($1,131.27)

5. Nissan Murano ($1,127.84)

4. Honda Odyssey LX ($1,114.62)

3. Toyota Sienna LE ($1,107.70)

2. Toyota Sienna ($1,100.66)

1...

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Auto insurance premiums tied to credit score

auto insuranceYou might expect a plunging credit score to affect your ability to qualify for a car loan or how high the interest rate on your credit card will soar. But too often Americans don’t realize a plunging credit score can cost them big bucks on insurance premiums.

One of the biggest mistakes insurers say people make is not realizing when their credit score is tanking.

“Credit scores factor heavily into your rate,” says Ashley M. Hunter, a construction-risk insurance specialist who owns HM Risk Group in Austin, Texas. That’s because in the eyes of your insurer, if you’ve missed a few payments to your credit card company or have written a lot of bad checks (that wound up in collection), chances are you’ll do the same thing to them.

So, they charge you more money to protect themselves...

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