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Report finds that NJ has 15th highest car insurance cost burden in nation

Report finds that NJ has 15th highest car insurance cost burden in nation

New Jersey is the 15th-most expensive state to insure a car, according to a survey by CarInsuranceQuotes.com released Monday. The average New Jersey household pays 3.1 percent of its annual income toward car insurance, or about $2,556 per year. By dividing the median car insurance rate by the median yearly household income, the survey found […]

The most and least expensive states for car insurance

The most and least expensive states for car insurance

By Nolan Hester, Insure.com – Last updated April 9, 2010 Insure.com’s new national survey of car insurance rates reveals that Louisiana has the highest average rates in the nation, followed by Michigan. Maine can boast the lowest average rates. The results came from a study that collected average auto insurance rates for more than 2,400 […]

Teenage Drivers

Teenage Drivers

Inexperience and immaturity make it much more likely that a teenage driver will have an accident than an adult driver. A driver in the age group of 16-19 is FOUR times more likely to have an accident than an older adult and TWICE as likely to die in an auto accident (in some states, a […]

The Personal Auto Policy & Company Cars

The Personal Auto Policy & Company Cars

Question: Answer: This being the case, the employee faces a huge gap in coverage. The solution is easy though: simply add an endorsement commonly referred to as the Extended Non-Owned Coverage for Named Individuals to the policy for about $20 per six months and the exclusion disappears with regard to liability and medical payment claims. […]

The Personal Auto Policy & Diminished Value Claims

The Personal Auto Policy & Diminished Value Claims

When a car is damaged in an accident, then repaired, the resale value may be less than that for a comparable car that has not been damaged. In other words, the damage results in a reduction, or “diminution,” in the resale value of the auto. An insured’s claim for this reduction in value may be […]

The Personal Auto Policy & Pizza Delivery

The Personal Auto Policy & Pizza Delivery

According to the 1998 ISO Personal Auto Policy, there is no coverage for an insured’s ownership or operation of a vehicle while it is being used as a “public or livery conveyance,” except that the exclusion does not apply to a share-the-expense car pool. The expressed intent of the policy drafters (via 1989 ISO insurance […]

The Top 10 Reasons to Purchase the Rental Car CDW/LDW

The Top 10 Reasons to Purchase the Rental Car CDW/LDW

To paraphrase Shakespeare, “To purchase the CDW or not to purchase the CDW, that is the question.” It has been debated for years whether or not a person renting a vehicle should purchase the Collision (or Loss) Damage Waiver from the rental company. Our recommendation is that consumers, in general, SHOULD purchase the CDW/LDW, at […]