New Feature: Reviews on Major Car Insurance Companies and the competitiveness of their quotes

In the next few days, I'll be talking about some of the major car insurance companies and how competitive their quotes are.  I hope that this information will help people with their decision  when choosing car insurance because everyone wants to make sure that they're covered in the event of an accident while also keeping premiums low.

Stay tuned... more to come!

Thanks for all your responses on car insurance!

Wow, I got an overwhelming amount of feedback on your experiences with car insurance.  The point was to share with everyone how important car insurance is despite the high premiums.  You never know what could happen while driving, and having a good insurance company take care of you after anything happens is very important.

Thank you to all who commented :D

Experiences with Car Insurance

Getting into a car accident is a common occurrence, and I wanted to know if any of you had gotten into one recently and had to deal with your car insurance company... what was your experience like?

Have you ever gotten into an accident and proceeded to not go through your/their car insurance?  Please comment and discuss...

More on Car Insurance

Car insurance is legally required for each driver in all states in the USA except for New Hampshire.  The amount of your car insurance premium is determined by how much of a risk you pose.  As with all types of insurance, the higher the risk you pose, the more likely you are to need to use the insurance.

Different car insurance vendors specialize in catering to different groups of risk.  A car insurance company that insures all levels of risk will likely have higher grouped rates because there are higher risk inviduals who are included in the group.  The benefit to these groups is that if you get in a couple of accidents, or if you get a few tickets, you can still keep the same car insurance despite any problems.

Some car insurance companies only focus on insuring those with 1 or less accidents or moving violations.  The risk in this group is lower, so the car insurance premiums are lower for the entire group as well.  The car insurance company benefits because this low risk group has less of a likelihood of needing to use the insurance.  The driver/consumer benefits because of lower car insurance payments.  The con to this type of group  is that if you exceed the 1 accident or moving violations, you will be dropped from coverage or won't be allowed to renew until these fall off of your driving record.

The rule of thumb is that the lower the risk, the lower your car insurance premiums.

Health Insurance

Health insurance, just like insurance in general, is a form in which people collectively pool their risk of incurring medical expenses.  This collective is usually publicly owned or organized on a non-profit basis for the benefit of the members of the pool.  In some countries, these health insurance pools are allowed to be managed by for-profit pools.  Depending on the type of coverage, health insurance just about covers anything that can go wrong with you physically and sometimes mentally.

Why do we need health insurance?  We never know what medical or health problems may arise just living day to day.  From broken bones to terminal diseases, the costs of treatment alone are enough to bankrupt even people who are financially stable.  Medical bills are the number one cause of Chapter 7 and Chapter 13 personal bankruptcies.

Typically, you can get health insurance as a benefit of working for an employer that provides this plan.  If you are self-employed  or not employed, you can purchase health insurance plans on your own.

Car Insurance

Hopefully, the parties involved have car insurance...

Every driver should have a car insurance policy in order to be prepared for any vehicular problems that may arise.  Car insurance gives a driver peace of mind that a possible worst case scenario can be covered.

There are many companies that provide car insurance.  Some factors that determine insurance premiums include: age, sex, type of car, accident history, violation history, amount of coverage, types of coverage, etc.

Because there are many factors that determine your car insurance premium, you'll need to shp around to see which company gives you the correct coverage at a price that you can afford.  Make sure to do a side by side comparison of each car insurance quote so that you are fully aware of what you're getting.

If you already have car insurance, you can still shop around for the best rates.  Check to see your early termination fee and compare it to any new car insurance quotes that you have customized for your situation.

Fortunately, comparing quotes is very easy to do online, and you don't have to drive around visiting different agencies.