Non-standard insurance policies provide auto coverage for high-risk drivers. See how you can get cheap car insurance if you fall in this category.
SmartFinancial provides information, advice and assistance on all of your tough insurance questions.
Non-standard insurance policies provide auto coverage for high-risk drivers. See how you can get cheap car insurance if you fall in this category.
A car insurance lapse is when you don’t have coverage. It can hike up your insurance rate and subject you to legal fees. Find out how you can avoid creating a lapse in coverage.
Students who move out of state won’t necessarily need to get new carinsurance when they go to college. See what options out-of-state students have for coverage.
Full-time students that earn good grades may qualify for a good student discount up to 25% depending on their auto insurer. Check out the requirements and see how to apply.
Not wearing your seatbelt could affect your insurance rate. Learn more about your state’s seatbelt laws and how they affect insurance.
You may face fines for canceling before the term ends, and not having auto insurance could cause a lapse in coverage, meaning you are uninsured. See how to cancel without fees.
If you have a loss that is covered by the terms of your car insurance, you can file an insurance claim with your insurance company for coverage, compensation or for representation if you are liable for damages. For example, if you have an accident, you can file a claim to cover the cost of the damages to your automobile. If your car is stolen, you can file a claim for compensation for the loss. You need to file a claim on whether an accident or loss is your fault or not.
A deductible is the amount you need to pay before your insurance company begins to pay for your damages or loss. You choose the deductible amount when you buy insurance. The lower your deductible, the higher your premiums (payments) will be and vice versa. When choosing a deductible, consider whether or not you can pay the deductible amount if you find yourself at a loss. A high deductible on a newer, more expensive vehicle may result in great savings but ask yourself if you’ll have the emergency fund to pay that high deductible if you have a collision. The savings on an older, less valuable car will not be much if you choose a high deductible, so it’s sensible to keep the deductible low.
An insurance endorsement is an addition to an insurance policy, changing the terms or scope of the original policy. Endorsements are also called riders or floaters. Some common car insurance endorsements include gap insurance, new car replacement, roadside assistance, and car rental insurance.
When you buy a car insurance policy, you are signing a contract specifying what you pay in exchange for specific terms of coverage on your vehicle. Your policy will include your declarations page, which has a basic policy and vehicle information, the amount you agree to pay and your deductible amounts. If you have any, you will also see your endorsements and discounts here. In your policy, you will also find your insuring agreement with terms of overage as well as exclusions and conditions. At the very end of an auto policy, you will find a definitions section, which goes over terms used throughout the policy.
The premium is the amount you agree to pay in exchange for protection from an insurance company. Annual and monthly payments are how most people pay for insurance. Others pay semi-annually or quarterly.
A liability, in general, is an obligation to, or something you owe someone, as a legal financial debt. Liability insurance protects you against legal costs and payouts you would otherwise be responsible to pay out-of-pocket.
This form of coverage is required in every state. It covers bodily injuries to a third party in an accident that was deemed your fault.
This form of coverage is required in every state. It covers property damage and loss of use to a third party.
This type of protection is also known as “no-fault insurance” and is required in some states. PIP will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.
This coverage pays for damages and loss other than that caused by a collision. It is subject to a deductible.
This coverage pays for damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.
This coverage pays for medical expenses if you’re injured in an accident caused by someone who doesn’t have liability insurance.
This coverage pays for medical expenses if you’re injured in an accident caused by someone whose liability limits are lower than what’s needed.
This coverage pays the value of a brand-new vehicle of the same make and model, minus the deductible if your car is declared a total loss.
This coverage helps you get back and driving if you have a roadside breakdown.
If you rent a car while yours is in the shop, you are eligible for $50 a day up to 30 days, if the damage to the car was a covered loss.
Without charge, you can replace major parts like tires, brakes, and batteries regardless of wear and tear and depreciation value at the time of the accident.
This protection covers you if your car is declared a total loss and you owe more on the car than its covered depreciated value.
If you drive for a rideshare company like Uber or Lyft, this coverage protects you during that period of time when you’re covered by neither your personal auto insurance nor your rideshare company’s insurance.
Drivers with a clean policy may be fully forgiven for their first accident without seeing a price increase as a result of the accident.
Do you know what replacement parts will be used to repair your vehicle after it’s been in an accident? This coverage guarantees original parts made by the car manufacturer, not a third party.
Certain parts of your profile affect your car insurance rates more than others, and every insurer has their own specific formula to decide how much risk you pose. The following are the most heavily weighted factors used to determine car insurance rates:
Young drivers pay the highest rates for auto insurance. Teens are seen as the riskiest to insure because statistically they drive less cautiously and are involved in more accidents than any other age group. Your rates begin to be more reasonable at age 20 but are still dramatically high until 25 or 26. Age 50 is on the other side of the spectrum and sees a dip in auto insurance rates.
|Connecticut||Delaware||District of Columbia|
|New Jersey||New Mexico||New York|
|North Carolina||North Dakota||Ohio|
|Rhode Island||South Carolina||South Dakota|
Liability insurance is required in nearly every state. Some states require more coverage. No-fault states, for instance, require Personal Injury Protection (PIP) insurance. See car insurance rates by location
Each state has different requirements. Some only require liability insurance whereas “no-fault’ states require drivers to carry personal injury protection, also called PIP. Even if the state you live in only requires that you carry liability insurance when leasing or financing a car, the lienholder will most likely require that you also buy collision and comprehensive insurance in case you have an accident.
You can also choose the limits of protection. You’ll see a breakdown of the limits you choose on the declaration page of your policy packet. The limits of coverage will be expressed like this: 20/40/15. What you are covered for in this instance is:
$20,000 for bodily injury liability $40,000 per accident for bodily injury liability $15,000 per accident for property damage liability.
The make/model and year of your car, SUV or truck will greatly impact your auto insurance rate. For one thing, your rate is based on the overall value of the vehicle, so the more expensive your vehicle is the more you pay.
A history of car crashes, a couple of cars stolen and some DUIs will raise your rates. However, if you have no incidents within a given year, your rate may drop.
|State||High Risk Drivers||Safe Drivers*|
|District of Columbia||$293.89||$179.35|
Some states do not use credit scores to determine car insurance rates while others do. According to the Federal Trade Commission’s data, drivers with lower credit scores file more claims than drivers with good credit. In addition, the claims filed by drivers with lower credit scores are usually more expensive.
|Credit Rating||US avg monthly rate|
The number of years you have been driving will affect your rate, so if you avoid filing claims (and accidents), your rate should decrease over time. With experience, drivers make fewer mistakes that lead to collisions and theft.
Your location is also a big determining factor for your auto insurance rate. Your zip code tells a car insurance carrier how prone you are to floods, crime, wildfires, and other perils that may cause damage or loss of your vehicle.
Most states still use gender as a determining factor in setting car insurance rates. While most people assume that male teens pay the highest car insurance rates, the truth is that rates vary depending on the carrier. Some carriers charge female teens more while others charge male teens more. The numbers continue to be just as haphazard as the driver gets older. So, gender is a determining factor but not in any consistent, quantifiable way.
Continuous coverage is one of the most important factors used to determine vehicle insurance rates. If you were licensed without insurance, it’s often assumed that you were driving uninsured, a fact that renders a driver much riskier to insure.
If you have filed claims or had claims filed against you, you’re likely to have a much higher rate than someone with one or no accidents. At-fault accidents take the biggest hit on your rate.
The number of times a vehicle has traded hands and the type of car ownership also affect insurance rates. In other words, your rates vary according to whether your car is owned, leased or financed.
Your annual mileage is a big determining factor for rates. This is because the more you drive the more at-risk you are of getting into an accident. Some carriers offer considerable discounts to people who drive less than 7500 or 5000 miles a year.
Married drivers are seen as lower risk than single ones, mainly because they file fewer claims than a single driver.
If you have the minimum state requirement for car insurance, you will pay less than if you add on coverage. State requirements for minimum coverage vary, with some states requiring only liability insurance while others require liability and personal injury protection (PIP).
After a claim is filed and processed, you are required to pay a deductible amount before coverage takes effect. You set a deductible rate when you first get insured. Usually, you choose from the following: $250, $500 or $1,000. The less you pay for a deductible, the higher your premiums will be and vice versa. To lower your premiums, you can raise your deductible.
If you prefer to start your car insurance quote online, you can use an insurance comparison-shopping engine, like SmartFinancial, to get many free cheap car insurance quotes, which will accurately reflect the prices offered in your area and based on your information.
Once you start the process on SmartFinancial.com, you’ll answer some questions, which will determine how accurate your online car insurance quote will be. Usually, when you’re given the official quote, the information will be on hand and in your records so it does you no good to lie. In fact, if you’re caught lying, your car insurance rates may go up because you’ll be seen as a potentially high-risk driver. an insurance comparison engine like SmartFinancial’s can give you an accurate quote in 5 minutes unless you have multiple cars and multiple drivers, which would tack on another couple of minutes.
SmartFinancial only partners with the top carriers in the country. Some of these insurance companies work in every state, others do not. Learn more about each carrier below.
|SECURA Insurance||Pekin Insurance|
|Farm Bureau Mutual (IA Group)||USAA|
|Kemper Auto Premier||Auto-Owners Insurance Co|
|National General RAD||Erie|
|Safety Group||New Jersey Manufacturers|
|Clearcover||New York Central Mutual Fire|
|Country||Norfolk and Dedham Group|
|State Farm||Cincinnati Insurance|
|Plymouth Rock Assurance||Penn National|
|Mercury Insurance||Atlantic States Insurance|
|Arbella Insurance Group||Hastings Mutual Insurance Co|
|MEEMIC Insurance Company||Travelers|
|California Capital||Kemper Personal Insurance|
|ACE American Pool||Grange|
|Safeco||National General Value|
|Quincy Mutual||Wolverine Mutual|
|Pioneer State Mutual Ins Co||American Family|
|Victoria||Farm Bureau Ins of MI|
|Chubb||American Independent Ins Co|
|NatGen Value||Alliance United|
|Dairyland FR Bond||Shelter|
|NatGen Advantage||National Grange Mutual|
|State Auto||Mercury Insurance Company|
|Frankenmuth Mutual||Liberty Mutual|
|Dairyland Broadform||Plymouth Rock|
|CSAA||GMAC Insurance Group|
|Allied||Auto Club Group|
|Dairyland Scored||Kemper Auto|
|Donegal Mutual Insurance Co||Safeway|
|National General||Grange Mutual|
|Dairyland Broadform Realtime||Safe Auto|
|Automobile Club of Missouri||Direct Auto|
|Bristol West||Kemper Premium|
|Dairyland Auto||Kemper Auto | Infinity|
|Home State Ins Group||Central Mutual Insurance Co|
Although these jobs can provide a much-needed stream of income, they also come with a few risks. A personal auto insurance policy may not be enough.
Out-of-state traffic violations can impact your driving record, driver’s license renewal and even your insurance rates. Find out how.
No-fault states are different in how they handle accidents. See which 12 states are no fault states and what it means if you live in one.
Modified cars can cost more to insure; however, some safety modifications can help save you money. Find out more.
Your state or court may order a special filing attached to your car insurance policy that proves that you have the necessary amount of insurance coverage. Find out how SR-22 insurance works.
If your car is hit by a tree, your comprehensive insurance should cover it, depending on where the tree is located. Find out more.
Electric cars cost more to repair and replace so insurance rates will be higher, but many carriers offer discounts for EVs. See what else you need to know before you get insured.
When your car insurance becomes invalid that means your coverage has become void. See how this can happen to you.
Most drivers can get same-day car insurance coverage that goes into effect as soon as they buy it — and they can even get quotes within the hour. Find out how.
Comprehensive auto insurance covers your car if it is damaged from events like theft, fire, hail and flooding. Here's what you need to know.
Most state laws require liability coverage, while full coverage and its wider protection are generally only required if you have a car loan. Find out more about liability vs full coverage.
For those who are rideshare drivers or are considering entering the business, keep reading to learn about how best to financially protect yourself.
You may not need rental car insurance if you have a full coverage policy that covers rental cars. Find out if you’re covered and if rental car insurance is worth it.
If you’re not sure if you need uninsured motorist coverage or you’re just not sure what it is, keep reading and get your questions answered with our in-depth analysis.
Bodily injury liability coverage insurance pays for the injured party’s medical bills when you cause a car accident. See how it works, what it covers and what your state’s minimum limit requirements are.
Medical payments coverage is auto insurance that pays for medical bills, regardless of who is at fault, but this coverage is optional.
Gap insurance will pay off your car loan or car lease if your car is totaled or stolen and if you owe more on your loan or lease than the car’s current, depreciated value.
In nearly every state, drivers are required to carry liability insurance but comprehension and collision are completely optional in many cases.
If you’re currently financing your car through a lender, they may ask you to buy an insurance policy with full coverage. But what does that mean, and what does it cover?
Proof of insurance shows you meet your state’s minimum insurance requirements and is required to drive legally in most states. Learn more about how it works, when it’s required and how to get it.
Learn all about SR22 Insurance and High Risk Auto Insurance.
Add PIP to your car insurance policy for extra protection for medical expenses, funeral costs and other expenses incurred from the accident.
The car insurance deductible is the amount you are responsible to pay before car insurance coverage is applied.
Liability coverage pays others' costs when you cause an accident while protecting your assets if you’re sued.
Car insurance does not always cover the remaining balance on your auto loan due to depreciation. Find out how gap coverage can keep you financially protected if your car is totaled.
All drivers are legally required to have auto insurance. Learn more about the coverages that are available and the consequences of being uninsured.
Find out what auto insurance covers and explore the different types of coverage including comprehensive, liability and gap coverage.