Autos and motos: all news and articles

Last year the FSA announced that some of the websites which compare insurance quotes, such as car insurance quotes, provide information that is either out-of-date or, in some cases, simply inaccurate. The FSA was keen to point out that most websites were fair, clear and accurate, but it raised doubts over whether comparison websites are the best way to go about getting insurance.
The watchdog found that although all the sites were properly authorised there was mixed and confusing evidence, and the clarity, fairness and accuracy of the information was questionable in some cases.
Important things such as compulsory excess levels were sometimes excluded from the price, or simply incorrect. Whilst in other cases warnings were issued to customers to consider other factors than simply the price, but little other information was given, and others only listed some of the features of any given policy, though the price was always included. Perhaps most importantly, quotes on certain sites actually differed from the amount charge by the broker or insurer.

The FSA is keen to point out that price comparison sites may not always offer the best deal. Aside from the inaccuracies of certain sites, which presumably will be corrected now, many sites receive a commission from the companies that they recommend, which may boost the price making it cheaper to go direct to the insurer.

Price comparison sites effectively do the legwork that is always recommended when it comes to buying car insurance, or a mortgage, getting a loan, or a new bank account. The theory being that if they compare all the offers for you, you will ultimately end up with the best deal, unfortunately this is not altogether true as these companies have to make a profit somewhere in the transaction and that profit is only going to come from you.

Ultimately there is no comparison for knowing what you are looking for yourself, take a bit of time and research the basic terms used in connection to insurance, and take a look around to make sure you are aware of all the options available. Some insurance companies only offer deals through their own websites and don’t allow their policies to be advertised on price comparison websites. So whilst internet comparison sites might be a good starting point for a car insurance quote, but if you have the time it’s always worth ringing up for yourself and making sure that the money you spend is going as far as it possibly can.

VW hybrids are on the way

When the next generation of the Volkswagen Jetta hits the shores of the US, it might just come in a hybrid option. VW is ramping up its hybrid efforts and showing them off at the Detroit Auto show in the form of the New Compact Coupe Hybrid Concept.

A combination of a turbocharged, direct injected 1.4-liter TSI inline-4 engine and a brushless, disc-shaped electric motor, VW’s new, full hybrid drivetrain achieves an overall output of 177 hp. While the NCC hybrid is a full hybrid, electric-only capabilities are limited by the small 1.1 kWh lithium-ion battery.

Fuel economy is estimated at 45 mpg.

Here are the basic steps to help you figure out how much auto insurance you really need to have. Knowing these things will help you find the best policy for the lowest cost. Saving money on the best coverage for you is not that difficult.

Tip number 1: Where to begin

Many consumers do not realize that they can be adequately covered for liability on their car insurance without spending as much as they are currently spending. Realize that you can save hundreds of dollars a year over what you are currently paying for insurance and still have enough car liability insurance to cover any accidents.

When researching online I found basic coverage on two old cars ranged from $1000 to $1800 for the same coverage. That’s a savings of $800! If you are paying thousands of dollars to your current insurance company for whatever reason, including tickets or accidents, comparing rates with your current policy will save you big bucks.

Tip number 2: How much coverage do you really need?

Car insurance liability requirements will be different in some states, so if you have moved to another state since purchasing your current policy you should definitely compare quotes with other companies. Take the time to determine your state’s minimums and then find a company that will sell you a policy for less money. It’s easy to do.

The internet makes it easy for you to find the best rates for your state. When you request a quote they will ask for your zip code. This will put you in touch with the companies in your state that provide the best rates based on your state’s minimum requirements.

After you know exactly what is required for car insurance coverage in your state, you can add other coverages to your policy if you want to. However, be aware that insurance companies make more money by selling you more coverage. Be careful not to spend money on coverage you don’t really need.

So how do you decide how much coverage to buy beyond your state’s minimum requirements?

Most experts agree that if you have a large number of assets you need to get enough liability coverage to protect them.

Let’s say for example that you have $50,000 liability coverage for bodily injury but your assets are about $100,000. An attorney may go after your assets to cover any of the other party’s medical bills that may exceed your $50,000 liability coverage.

Usually the recommended limit for liability coverage is $50,000 for bodily injury for one injured party per accident and $100,000 for all people injured in an accident. Also, recommended is $25,000 for property damage (over half the cars on the road are worth at least $25,000.

Let your financial situation help you determine if you go with the minimums or need to purchase more to cover your assets. If your assets do not exceed your liability limits then it is recommended that you not buy excess coverage.