Understanding Car Insurance

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Do you get your deposit back from auto insurance?

Almost all U.S. states, except New Hampshire and Virginia, require drivers to carry auto insurance, meaning most Americans will need to apply for coverage eventually. Generally, when applying for coverage, insurers will require a deposit or down payment alongside an approved application. The initial deposit required with the application applies toward future coverage payments. Keep...

Almost all U.S. states, except New Hampshire and Virginia, r...

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Does auto insurance pay over the limit of bodily injury to settle lawsuits?

Are you wondering does car insurance cover lawsuits? Your car insurance policy will not pay over the bodily injury limit to settle a lawsuit. Unfortunately, the insurance that you buy is the coverage that you have. If your insurance company settles a bodily injury case due to a car accident that you caused, then they...

Are you wondering does car insurance cover lawsuits? Your ca...

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Is GAP insurance transferable if you sell the car?

GAP insurance is a helpful type of coverage to have on your vehicle, and there are many reasons why you should get GAP insurance. It is specifically tied to the vehicle you drive, similar to auto insurance. But, is GAP insurance transferable if I sell the car? Understanding how it works and how it transfers...

GAP insurance is a helpful type of coverage to have on your ...

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Does my spouse have to be on my car insurance policy?

When purchasing car insurance, it may be necessary to add your spouse to your car insurance. Whenever you add another individual to your policy, there may be an additional premium charged for adding another driver. However, there may be some circumstances that your spouse does not need to be on your insurance policy. If you...

When purchasing car insurance, it may be necessary to add yo...

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Can my auto insurance policies overlap?

Having overlapping car insurance policies is not really a good thing. Overlapping means that you did not coordinate the effective dates of your policies when switching car insurance providers. Overlapping policies could also mean that you combined auto insurance policies with someone else in your household, such as a spouse, and did not cancel your...

Having overlapping car insurance policies is not really a go...

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Should I get GAP insurance for a used car?

Guaranteed asset protection, or GAP, insurance is extra protection for your vehicle in case you have an accident that leaves the vehicle as a total loss. If you carry collision and comprehensive insurance, which is typically a requirement for any financed vehicle, then your insurer will pay out the value of the vehicle if it’s...

Guaranteed asset protection, or GAP, insurance is extra prot...

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Do you need auto insurance to be towed?

If your car has ever stalled out on the side of the road, or if you’ve ever been in a car accident, you may have had to get your vehicle towed. Getting towed is not the end of the world, but it can be a hassle. Depending on the type of insurance you have, you...

If your car has ever stalled out on the side of the road, or...

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Does car insurance cover key replacement?

If you’ve ever lost your car keys, you know how stressful it can be to get a new set. Unfortunately, the stress of replacing lost or stolen car keys can multiply if you have to get a new key fob, which can cost hundreds of dollars. Depending on the type of car insurance coverage you...

If you’ve ever lost your car keys, you know how stressful ...

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Can I backdate my auto insurance?

Car insurance is financial protection for drivers if a car accident causes damage or loss. An insurance policy is a contract that outlines both the insurance provider’s and the policyholder’s financial responsibility concerning the expenses resulting from an accident. Unfortunately, getting caught in a car accident without insurance doesn’t have a happy ending. Though you...

Car insurance is financial protection for drivers if a car a...

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Are auto accident insurance proceeds taxable?

After a vehicle accident, you may receive compensation. If this happens, one of your next actions should be to discover whether you received taxable insurance proceeds. The Internal Revenue Service (IRS) has specific guidelines in place to determine which insurance proceeds are taxable. The IRS considers each type of payment to have specific purposes, so...

After a vehicle accident, you may receive compensation. If t...

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Is auto insurance a utility bill?

Can car insurance be considered a utility bill? Find out here. If you’ve had to show proof of your address, you might have used a utility bill. Companies and organizations that use utility bills to verify a person’s identity and address do so because this is a simple and reliable method that should not be...

Can car insurance be considered a utility bill? Find out her...

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Can I buy a car without auto insurance?

Can I buy a car without auto insurance? The answer is usually no. You need to instantly buy auto insurance before buying a car. Do you need proof of insurance to buy a car? A dealership may prevent you from buying a car without auto insurance and won’t allow you to leave their lot with...

Can I buy a car without auto insurance? The answer is usuall...

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Do I need full coverage insurance to finance a car?

Do you need full coverage insurance to finance a car? If you finance or lease your vehicle, you need more than just a basic insurance policy. Can you get a car on finance with insurance included? Learning what insurance you need to finance a vehicle is important. So, just what insurance is required when financing...

Do you need full coverage insurance to finance a car? If you...

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Pay-As-You-Go Car Insurance

When Insurance Commissioner Steve Poizner of California allowed pay-as-you-go car insurance, it opened the gates for auto insurance companies to start pay-as-you-go car insurance programs. Poizner released regulations permitting and authorizing mileage verification for pay-as-you-go car insurance. Pay-as-you go is a type of usage-based car insurance that determines rates based on driving habits. The pay-as-you-go...

When Insurance Commissioner Steve Poizner of California allo...

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Family Car Insurance and Multiple-Car Insurance Policies for Families

Car insurance is a mandatory requirement for all licensed drivers in the United States. But the factors that affect car insurance rates can vary from state to state. While a young single person might want to pay the very minimum mandated by their state of residence, his or her insurance needs are likely to change...

Car insurance is a mandatory requirement for all licensed dr...

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Do you need car insurance if you don’t drive your car?

Many people have at least one car that they use to drive to and from work, school, errands, and trips to the local coffee shop. These cars have to be insured at all times in order to meet legal requirements. But what if you have a car that you do not currently drive? Does this...

Many people have at least one car that they use to drive to ...

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Can your auto insurance company drop you after a claim?

If you’ve been in a crash and have had to make an insurance claim, you have plenty to worry about as you try to get back to normal. Unfortunately, you may be concerned that your insurance company will be unhappy and refuse to cover you in the future. So, can your auto insurance drop you...

If you’ve been in a crash and have had to make an insuranc...

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What does recoverable depreciation mean?

Understanding how your insurance company will pay out is essential if you need to file a claim. For example, suppose you have replacement cost coverage. In that case, you may receive a check for recoverable depreciation after you replace or repair your property. However, there are specific requirements you may need to meet to receive...

Understanding how your insurance company will pay out is ess...

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Are you allowed to buy or register a car with a suspended license?

The effects of a driver’s license suspension or revocation on drivers’ lives can be devastating. Losing your driver’s license for any period of time is inconvenient at best and life-altering at worst. That is why it is important to follow the necessary steps in order to resolve the issues and to have the restriction removed....

The effects of a driver’s license suspension or revocation...

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What is the car insurance deductible?

In the event of an auto insurance claim, you’ll want to know the definition of a car insurance deductible. The deductible represents your portion of the cost that you pay an insurance company. It’s typically a fixed-dollar amount, and you’ll pay a deductible when you incur a claim that falls under certain coverages in your...

In the event of an auto insurance claim, you’ll want t...