The IRS Deductions Blog

Posts Tagged ‘car insurance’

Question: Just was rear ended and smushed between 2 cars, car looks totalled. Should I work directly with her insurance?

Or just go through mine. It was 100% her fault, but I don’t know if my premium will go up if I work through my insurance, even though I wasn’t at fault. Also, I will need loaner car and possibly medical care, I just am not sure what to do. I would have to pay a deductible but would most likely get it back. Anyone in the business have some answers for me?

Answer: Is this a 3 car accident??? If so, you definitely need to contact YOUR insurance company. If as you say, I was rear ended and smashed between 2 cars, means you were in the middle and the other insurance company may believe that you are also responsible for the car in front of you;;;;;;;;;;

Your auto policy most likely has medical payment and/or PIP coverage, which means it will pay for any medical care medically necessary due to an accident. Even if proven that the guy behind you is totally at fault, THEY WILL NOT PAY FOR YOUR MEDICAL BILLS, but will reimburse you after you are done treating with a pain/suffering settlement which could be months away from now.

Anything YOUR COMPANY PAYS, including your deductible, YOUR insurance company will go after the at fault party for reimbursement since they will have a “vested interest”.

Call your insurance company and they will explain the procedures and your rights.

good luck

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Credit Scores May be Factored Into Car Insurance Rates, Reports Edmunds.com

Ignoring outstanding bills could raise your car insurance premiums, while paying them off may help you secure a lower rate, reports Edmunds.com, the premier online resource for automotive information.

How to Buy Car Insurance

Question: For High Mileage Older Cars with low value is it ok to drop your Comprehensive & Collision deductible?

I’m looking over auto insurance quotes and can’t seem to figure out why I should justify a $500.00 deductible on a car that’s valued at $900ish for trade.

Answer: Absolutely. I recommend just carrying liability.

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Rental Car Insurance: Is It Worth the Price?

When vacationers rent cars this summer for their adventures, they’ll have to decide: Do they want the insurance the company is offering. It might be tempting to it pass up the extra fees, but whether or not you should is something you should figure out long before you get to the counter.

Moreno Auto Body & Collision, Car Repair, Car Rental

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Insuring the rich and famous

Take a behind-the-scenes look at what it takes to protect celebrities and the super-rich.

Question: What does it mean? “The only way to reduce the cost of protection is to raise the deductible?

I asked a car insurance agent to reduce the montly premium for my car insurance. He said “The only way to reduce the cost of protection is to raise the deductible” When comprehensive and PIP are 500 the monthly premium is high. When they are 750 the premium is low.
When they are 1000 the premium is still low.

I couldnt understand what exactly that means?. I am new to the car insurance issues.

Answer: The deductible is the amount you have to pay out of pocket for any claim. For instance if you hit a tree and the repair work is$ 2000.00,with a 500 deductable the check you recieve would only be 1500. So the higher the amount you agree to pay per accident yourself the less the insurance co is on the line for.

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7 silly ways to waste money on auto insurance

Are you wasting money on auto insurance? There’s a good chance the answer is “yes” – not because you are a bad driver or a high risk, but because you overlook some of the best ways to save. 

Comparing Comprehensive Car Insurance

Question: After you file a claim with your insurance agency for vandalism, when do you pay your deductible?

My car got keyed and I tried to buff it out some, the minor scratches came out but, the deep ones are going to have to be repainted. However, I do not have the $500 for the deductible yet. Will they allow me a few weeks to get it or how does that work? I really want to get it painted but, I am not sure how to go about it.

Answer: Try to deal it out of pocket, otherwise insurance rates will go up much more. You can check how quotes will change here – autoinsurance.noneto.com

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