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Car insurance is not only a necessary evil but it is also one of the most dreaded chunks in your budget mainly because you have some very tricky decisions to make. How much insurance should you buy? How much is enough and what would be too much? It can be a real headache.

When it comes to protecting yourself, the best bet is to err on the side of caution and be a little more liberal with the limits of an automobile policy where they really count. In fact any good insurance agent worth their salt will tell you that you should buy as much car insurance as you can afford. While this is a good guideline it doesn t really help you. The advice is about as useful as a stockbroker s tip to buy low and sell high. It might be good basic advice but it doesn t get you any closer to an informed decision. Stick with me and I ll attempt to explain the process of buying the right car insurance in easy laymen terms.

To begin with, the portion of auto insurance that really comes into play when you have an acc (more...)

This article attempts to explain the reasons why teenagers pay a higher premium for their car insurance it is not a how-to guide on lowering your auto insurance bills if you are a teen or a young male under the age of twenty-five.

It is no secret that young people pay more for their auto insurance which is odd because it is this exact group of people that are the least likely to be able to afford to pay those types of bills. This often translates into anger towards insurance companies for discriminatory practices against young drivers.

Is this discriminatory? Is charging higher insurance rates for young and teenage drivers and categorizing them is a class that should pay higher discrimatory? The short answer is “no.”

It would help to explain the reason that this group of drivers pay more. It is important to first explain one of the basic tenets of insurance. Insurance is based on the law of large numbers. What this means for insurance is that premiums are based on the cha (more...)