Posts Tagged ‘finance’

Louisiana Auto Insurance Rates Among Highest in United States

Thursday, April 22nd, 2010

According to a recent survey, Louisiana continue to pay  the nation’s highest rates for car insurance. Yahoo.com recently graphed the findings of the most expensive states to the least expensive states to insure an automobile.

Rank State Avg. Premium

1

Louisiana

$2,510.87

2

Michigan

$2,098.29

3

Oklahoma

$1,869.39

4

Montana

$1,857.96

5

California

$1,774.41

6

South Dakota

$1,772.83

7

Washington, D.C.

$1,753.19

8

Georgia

$1,751.42

9

Illinois

$1,679.15

10

Connecticut

$1,678.90

Source: Insure.com, from a study commissioned by Insure.com from Quadrant Information Services

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As you see, Louisiana ranked 1st among all states for the most expensive car insurance. So the question I have is why are automobile insurance rates so high in Louisiana?

To answer the above question, I discussed this with a friend (who will remain nameless since he occasionally cavorts with this personal injury attorney) who works in the automobile insurance field. Together, we identified (not scientifically of course) reasons why automobile insurance rates are so high in Louisiana. We identified the following as some of the predominant reasons automobile insurance rates are so high Louisiana:

  1. 1. High Number of Uninsured.
  2. 2. Low Incomes Resulting in Low Credit Scores.
  3. 3. Weather Related Losses (Hail and Storm Damage)
  4. 4. A Lot of Youth Drivers Having Their Own Cars.

Believe it or not your credit scores also play a role in your premiums. According to insure.com your insurance company probably sees a correlation between your credit history and insurance premium.

Many home and auto insurance companies use your credit information, filtered through a formula to create an “insurance risk score,” to determine how likely you are to file an insurance claim. Your premium bill could rise if you have a bad credit score, even if you haven’t filed a claim.

According to the Insurance Information Institute (III), insurance companies use these risk scores to help differentiate between lower and higher insurance risks and thus charge a premium equal to the risk they are assuming. Statistically, people who have a poor insurance score are more likely to file a claim, according to III.

Compare Louisiana Auto Insurance Quotes

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Easy 2nd Income String For Realtors and Mortgage Reps

Friday, February 19th, 2010

Are you looking for a way to earn extra revenue while helping your clients and doing no extra work? Let me explain this very simple and exciting new program designed for Realtors to earn extra money.

We have designed a program that doesn’t cost you anything to take part, and once set up it works on auto pilot. You will be able to earn money and help your clients at the same time. This is a win-win every way you look at it.

Every Realtor knows that homeowners insurance is needed on every home purchase that has a mortgage. This is something that either the Realtor or the Mortgage rep has a conversation about with the client.

To read more or sign up for free go to:
http://www.quotematcher.com/affiliates/realtor.asp

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Useful Idaho Auto Insurance and Vehicle Registration Facts

Wednesday, January 13th, 2010

Idaho Liability Insurance Requirements for Private Passenger Vehicles

Idaho Auto Insurance Liability Minimum:

* $25,000 for injury/death for one person.

* $50,000 for injury/death to more than one person

* $15,000 for damage to property.

NOTE: Operators of off-road all-terrain vehicles (ATVs) and motorbikes must comply with financial responsibility requirements when riding on public roads.

Financial Responsibility And Proof of Auto Insurance

Upon registering your vehicle you’ll be asked to sign a statement confirming your auto is insured. Idaho requires you to carry proof of insurance whenever driving your automobile. To comply with this you must have:

* An insurance identification card provided by your carrier.

* Proof of an indemnity bond provided either by your broker or the DMV.


Idaho first time registration
:

There are several reasons you may need to register your vehicle for a first time, including:

* Established Idaho residency

* Purchased a used car from a private party

* Transferred ownership to you via gift, family or inheritance

Upon buying a auto within state lines, you have 30 days to register it. There is a $20 late fee if this time period is exceeded. If you are transferring a vehicle from another state, the 30-day clock begins the day you bring it into Idaho.

If you just became a resident of Idaho, you have 90 days to register with Idaho’s Division of Motor Vehicles (DMV).

NOTE: Before registering, you must first title your vehicle.

Idaho Vehicle Registration Renewal
:

This service is currently available for registrants in the following counties:
Ada, Adams, Bannock, Bear Lake, Bingham, Blaine, Boise, Bonneville, Camas, Canyon, Caribou, Cassia, Custer, Elmore, Fremont, Gem, Gooding, Idaho, Jerome, Kootenai, Latah, Madison, Minidoka, Oneida, Owyhee, Payette, Shoshone, Twin Falls, Valley and Washington County

Commercial vehicles need to Use the Full Fee Vehicle Registration Renewal.

The following plate types can not currently be renewed online in Idaho: Boats, Classic, Dealer, Exempt, Legislative, Loaner, Off-Road, Old Timer, Repossession, Snowmobiles and Transporter.

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Homeowners Insurance – How Much Do You Need?

Sunday, January 3rd, 2010

homeownerspicYour home is probably the biggest investment you’ll ever make, it makes sense to take measures to protect that valuable investment. The best way to safeguard your home investment is through homeowner’s insurance.

Don’t settle for just any homeowners insurance policy. Your home and your homes contents are unique and the amount of insurance you need depends on this and your personal requirements. But how much insurance is enough?

Here are a couple of ways for you to determine how much home owners insurance coverage is right for you:

Market value may not be enough

While it might be tempting to buy just enough homeowner’s insurance to cover the resale value of your home, this may be too low.

Your home’s market value may be very different than what is known as its “replacement cost.” The replacement cost of your home is the amount of money you would need to rebuild your home to its previous condition if a total loss were to occur.

In today’s real estate market property values are falling throughout the country.  Due to this it is more important to protect you home for what it will cost to rebuild your home.

Calculate the replacement cost

Your homeowner’s insurance company can calculate how much it will cost to rebuild your home based on the following:

  • Square footage of your home
  • Type and quality of your home’s construction
  • Any updates, special features or add-ons to your home
  • Quality and cost of materials used in your home

Personal liability coverage

Modern homeowner’s insurance policies also include personal liability and medical expense coverage.    There is usually a preset dollar amount of coverage for these two items so; you might want to consider purchasing a separate personal umbrella liability policy, which can offer additional protection.

An umbrella policy offers a higher level of liability coverage and ensures that you and your family’s assets will be protected if someone sues you for damages. Umbrella policies typically pay up to a predetermined limit, which is usually purchase in increments of $1 million.

Protect your valuables

If you have valuable jewelry, artwork or collectibles, you may want to opt for even more homeowner’s insurance coverage for additional protection. You may assume your valuables are fully covered by your homeowner’s insurance, but that’s not always the case.  To be safer it may be wise to schedule these items separately for there estimated worth

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Etiquette Of An Automobile Accident Without Injuries

Tuesday, December 1st, 2009

Your teenage daughter misjudges the distance when she goes around a turning automobile, and taps into the vehicles back bumper. The other driver, an elderly lady, appears fine. She states, “It’s Thanksgiving time, and I’m ok. Don’t worry about it.”

Auto Insurance Accident

Auto Insurance Accident

You were in the car with your daughter and thought that was a reasonable attitude, and left the scene. So you go home with your turkey and 5 pounds of potatoes to have a nice life.

A couple weeks go bye, and your car insurance company calls you to tell you that the lady is suing them and you for lost wages, injuries to her neck and back, and pain and suffering.

What did you do wrong? That so-called accident was only a small bump that didn’t even scratch the paint. That lady couldn’t have been injured your terrified daughter tells your auto insurance company’s attorney.

Attorney! Holy cow.

No one can say what might happen when cars tap. But there are things you can do to make sure fender-benders don’t become the headache of the decade.

Your first thought is most likely to call the police. But in some municipalities, the police only respond if there are injuries. In a lot of states, a minor accident without injuries and damage less then $500 means you don’t need to call the police to the scene.  You are allowed to file a report later. Know the laws where you live and where you may be traveling. Then, by following the steps below – even if the police are not present – you can protect yourself from fake claims and help your auto insurance provider make the best decisions:

  • First, obey the law. Every jurisdiction through out the country requires motorists to carry their license, auto insurance information, and registration. Be sure all family drivers have this information available whenever behind the wheel.
  • Second, take pictures. Keep a disposable camera in the glove compartment or use the camera on your phone and use it if in a fender bender. Pictures can help with validating repair estimates and whether the force of the accident was likely to cause injuries that may later be filed by the other driver or passengers.  Also, make sure to take pictures of all the people in the other car/cars, preferably while they are still in their vehicle or at least while they are all still present at the scene. Why? To protect against fraud schemes. In an attempt to get bigger settlements from the insurance companies, people are known to come forward and say they were also in the vehicle and also suffered injuries.  Take photos at the site of the accident. Having pictures of the vehicles ‘on location’ can clarify your case to the claims adjuster. Jot down the specifics of where the accident happened as well, for example: “Going west on First Ave approaching the intersection of Main Street and First Ave, about 50 feet before the stop sign.”
  • Third, get the names and addresses of any witnesses. Some may be wary to give you their information; but be persistent within reason.
  • Fourth, make sure to get the other drivers information. Be certain to include name, address, phone number, driver’s license number, license plate number, policy number and the name of the other driver’s insurance company including insurance company’s phone number.  The telephone number will be listed on the insurance card. If the driver is not named on the insurance card, find out the relationship between the driver and that person and write it down, also include that person’s address and phone information, if different than the drivers. Then, include a description of the other automobile, including year, make, model and color.
  • Lastly, don’t open your mouth. Under no circumstances tell the other driver, “It was your fault,” even if it was. Remember, there are unscrupulous people out there who stage accidents for the insurance money, and you could have been set up by one of these criminals. Even if it was a bona fide accident, let the insurance companies or police determine blame – or no blame. Some of us feel so badly and emotional after an accident, especially if the other driver seems to have come undone, that we are more likely to accept blame even though it wasn’t your fault.

OK. Now you can go home and prepare Thanksgiving Dinner…make sure to drive even more carefully in the future this way you can avoid having to perform this tricky scene again.

Click Discount Auto Insurance to get Free Insurance Quotes

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Home Owner Insurance Need To Know Information

Monday, November 23rd, 2009

Home Owner Insurance 101

There are a few simple items you need to pay attention to when getting Homeowners Insurance Quotes.  Let take a look.

1. Your Deductible: What amount are you willing to pay if you file a claim before repairs or the claim is satisfied.  Unlike auto insurance most homeowner insurance claims could be avoided with proper maintenance and the chances of having a home owner insurance claim is much lower than an auto insurance claim. Therefore, Homeowner insurance deductibles should be around $1000 this will give you the best price break on your insurance without putting you out of pocket to bad if something should happen.

2. Coverage Amount:  Make sure to insure your home to the amount it will take to rebuild or at least 80% of this amount.  This way you will qualify for replacement cost value on all your property this eliminates the cost of depression for you.

3. Understand Limits:   To get the most out of your homeowners insurance policy you need to understand your policy limits.  For example know how much coverage you have for theft or computers or electronics.  There are many specific coverage’s inside your homeowners insurance policy and even though your overall policy is covered up to a predetermined amount specific coverage’s may lower the amount of coverage for specific events or items during a claim.

By understanding these three basic concepts of a homeowners insurance policy you will be able to purchase a policy that best fits your needs.  Remember to always have a list of questions on hand when talking to your insurance agent to make sure you don’t miss anything and see the difference between coverage and cost among companies.

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Credit Cards – Why Advantageous For Merchants

Tuesday, October 6th, 2009

Prepaid debit cards have (or DC’s) been in the market for quite some time. To keep up with the competition, different issuers have enhanced it’s features to make them more flexible and user-friendly. Today, prepaid cards are not just ideal for people with bad credit history. Even those who do have good credit standing can choose to own a debit card for personal reasons.

In fact, business owners are beginning to recognize the benefits of using such. If you are a small business owner, then you should be eager to learn how your business can benefit from it. In this article, let us discuss why debit cards are advantageous for merchants and how you can make the most out of them.

Encourage Your Buying Customers To Use Debit Cards For Payment

If you have a merchant account, then why not encourage your customers to pay with debit cards instead of a credit card? Some merchants even accept only debit card payments only. The reason? There is much lower card processing fees involved with debit card transactions than with traditional credit card transactions.

Merchant account providers can afford to require lower fees on debit card payments because it involves much less risk than credit card payments. When a DC holder pays for his/her purchases, the balances are instantly charged off using the customer’s available funds from his/her debit account.

The only risk associated with this purchase is if a customer makes claims that the products were not received in good condition or that the transaction was made without consent and demands for a charge-off. Of course, the same thing applies with customers who use the credit card mode of payment.

On the other hand, when a credit cardholder pays for his/her purchases, the customer has the option to pay for the full balance within that billing period or pay only the minimum amount required by the credit card issuer. Thus, credit card processing costs tend to be more expensive than debit card processing fees.

Manage Your Payroll with Debit Cards Payment System

Whether you hired in-house employees, freelancers or home based contractors, you can simplify your payroll system with the use of debit card payment. How is a DC payroll system more advantageous than the traditional one?

First, you can conveniently keep track of your payroll records by accessing your debit account. Most debit card companies provide an online account access for their cardholders so you can check on your account status from your own computer at any time. If you need to document the report, you can simply print out a copy for filing purposes.

Sending payments through prepaid debit cards is more cost-effective, more convenient and safer. As a business owner, your only concern is to deposit funds to your debit account, and you can send out payments through online banking.

Unlike wire money transfer services, there will be no every time you send in payment. Your employees can make a withdrawal from the ATM immediately after their salaries have been sent.

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