Auto Insurance for 17 years old

Getting Auto Insurance for a 17 year old depends upon laws being practiced in different states. In most states and countries 17 year old is allowed to drive but according to insurance companies 17 years old can not enter in to a insurance contract. I f a 17 years old want insurance it must be with permission of parents and parents must sign contract to validate it. Insurance costs depends on company to company.It is expected that Insurance premium and costs would be very high for a 17 years old.

Auto Insurance Payments and Claim Receipts tax issues

while getting Claim settlement receipts from Auto Insurance companies is whether what amount they are receiving is taxable or non taxable. Auto insurance claim settlement payments are non taxable. You can get settlements from insurance provider in forms of,1) Repairing or replacing your car, 2) Medical expenses if you need medical treatment or rehabilitation treatment due to a car-related injury, 3) Replacement services (housekeeping, child care, elderly care). This is for things you used to do but cannot do now due to your injury.
Car Insurance payments are not taxable because they are compensation for your loss and intended to retrieve back your previous financial position not as a addition in your financial standings. Insurance claim settlement payments are not income so there is no tax payment on them. These claims settlements are generally not taxable, you should report what you receive to the IRS. You just need to report your claims payment as income.

Financial calculations on your windows PC & mobile Loan, payments, Auto Insurance

Download Application that assist you in your financial calculation. Balloon payments, Loan calculator, interest calculator, accelerated payments,Auto insurance calculations & amortization schedule. This is a free ware financial application. This is setup.exe file and this application software will help you to plan your financial payments according to your means and helps you to meet the deadlines.

personal Financial management software for symbian, Nokia 5800 N97 phones

This software allows you to keep the record of your daily micro and macro transaction.  It allows to keep the record of bank accounts utility bills, auto insurance payments, tax payments and daily odd costs. This mobile pone software allows you to track your investments and loans payments. If you want to  run the application in full screen mode go to settings –> (then to) Application Manager –> (then to) Installed Apps –> (then to) JapbLite –> (then to) Options –> (then to) Suite Settings and here turn of the On-Screen Keyboard, you can customize the settings of software. Download personal Financial management software for Symbian, Nokia 5800 N97 phones


Download Family guide to teen drivers safety

This file that is available for download is necessary for driving safety related to teen drivers. Safety is better than cure. We have learned much about Teen Driver Safety during the past decade.We can now say with confidence there are specific, proven safety benefits from a variety of best practices that together
make up what we know as Graduated Driver Licensing or GDL. 

buying used car, previous insurance records

Insurance records are the property of insurance holder, If you want to buy a used vehicle you can not access its previous insurance records of damage, service and repair with reference from insurance records. Auto Insurance Records are protected under State and Federal Privacy law and property owner insurance holder even after the expiration or termination of insurance policy. In case auto sale the new owner can not get any insurance benefit from Insurance policy of previous car owner, Also Any coverage or compensation that insurance company paid to a previous owner would not be extended to the new owner of car as the new owner of car  was not an insured owner  and did not have a financial interest in the car  prior to the purchase of discussed car.New can not get any benefit from previous owners insurance policy and also do not liable to any negative situation associated with previous owner. Previous company or insurers obligations was to the previous insured owner only. according to the law Those obligations ceased when the policy expired, terminated or when the car was sold to another new owner.

Insuring other person's car

You can insure the vehicle registered  or owned by someone else. It is allowed by law. Common scenario is when one of parents allow their child who have valid driving license to drive car owned by parent. But ask him or her to insure that car. Means car is owned by dad or mom and insured on son or daughter's name. Compensation of insurance claim can only be received by lawful owner of the property or any agent designated by the owner. If you are insuring other person's property the list all the drivers who are expected to drive the car for liability purpose only list owner for property interest. For insuring another persons property you should have an insurable interest in property, without having insurable interest in property of someone else it is illegal to insure other persons property and car.

getting Auto Insurance before moving to the states

For getting Auto insurance in an state of USA one must have a valid address in that state. As long as you have valid address in that state you can get your car insured from any company of your choice. Insurance companies do not look for you have moved or not but they look for a valid address. So you have moved in the state or not but If you have address in that state.

Auto financing and auto insurance must be on same name

Every Auto financing or loan provider requires the applicant to fully cover the risk associated with auto being financed. Full risk coverage is needed by the same person who applied for financing. The full coverage should be for the period until the loan expires. Failure in terms of providing full insurance coverage puts the borrower in default by law.

Car Insurance on parents name

Auto insurance can be on parents name. People use insurance on their parents name in case they are not fully independent, minor or living with parents. You must be a scheduled driver means you should have a valid driving license or meet the criteria. It is not possible to drive a car on parents insurance policy and you are not a listed or scheduled driver in policy. Some insurance companies list all the people living in house of insured as Households except they left the house or do not have valid driving license. spouse will be eliminated valid divorce degree.

Insurance Coverage Under Family Members Insurance, When Driving their car

If another driver is driving car then he or she must be listed and scheduled as covered driver in the auto insurance policy agreement for full coverage. If the driver is not listed in policy then If permissive use was not in violation of the law or the auto insurance contract benefits can be given. But it varies from state to state. Insurance laws varies from state to state. You must confirm and discuss this thing with your auto insurance provider. If you have the policy and not clear about another driver driving your car you must discuss this thing with your auto insurance agent.
You should inquire your agent find in insurance policy agreement about visiting guests, family members, occasional & unexpected drivers and auto Insurance coverages clauses about them. In some states if unexpected driver who may be your friend or realities visiting you may claim for liability but this law is different in different states. You can also upgrade your insurance policy according to your needs and available budget but the idea is to always have latest information about what type and intensity of risk is covered in your policy. Some inquire you while making policy agreement about named and possible drivers but not all. It is better to schedule an additional driver named if you think some of your family member or any person may driver your car at any stage in passage of policy time. You have to include your child in insurance policy if he drive your car occasional. Some of your relatives who do not have valid driving license or do not meet their their underwriting criteria can not be added as scheduled or listed drivers.

Cost of Auto Insurance & Driving tickets from other States.

Traffic departments of all the states in USA are now connected with central communication system. If you violate a law in any state and got the traffic ticket it will soon be entered in traffic database and your record will be available in every state. So the driving tickets from any state will increase the cost of your auto insurance. Because insurance companies look for the law violations and consider a person with with bad traffic records as high risk driver and total cost insurance and insurance premium will also rise directly with rise in no. of traffic tickets. One more thing if you have insurance policy or not if default a traffic ticket in another state then your driving license will be canceled if it is issued from any state. Sometime you got traffic ticket and it is not listed in your record. that is because of some states do not report traffic tickets to central database and licensing authorities. It depends upon insurance company how much to increase cost associated with driving ticket issued from any state.

Using Parent's Insurance Policy to cover your car

You can drive a car that is listed with your name in your parents Insurance policy. Your name should be present in policy of your parents as covered driver. If your vehicle is not covered in your parents policy and mentioned then vehicle is not covered with your parents auto insurance policy.

You can have a car on your name covered under your parents insurance policy.

Buying Auto Insurance, Important Factors To Be Considered

There are many factors to be considered before buying an auto insurance. Always take a look at insurance policy agreement because there are many hidden factors in the policy statement which can effect amount of premium. These factors include How old are you, where you live, your current status in country,  How old is your car, do you have any other insurance coverages, Your traffic record, Your credit history, Safety features in your auto, Consumer rating of company, amount of total risk coverage, did you leased/financed or buy car.

  • -your age
  • -your  traffic record
  • -Leased/ Financed/ Buy
  • -manufacturing year of car
  • -Consumer rating of company
  • -Safety features in your car
  • -you are resident or on visa
  • -Amount of total risk coverage
  • -other insurances coverages you have

Selecting suitable auto Insurance company is very important factor that affects what you are going to pay and what you are going to get. Many companies gives insurance quote online. It is bettter to search both online and offline for Insurance quotes with available discounts. Also bargain for discounts because there is
possibility of some percentage in the hand of agent to increase sales.

Always check the consumer rating of company you selected for your auto insurance coverages. It is much better option to put in your decision process and rate it while selecting company. Do not give less points to consumer ratings and more points to prices because selecting a bad rated company with low rates will not always let you in beneficial position. selecting a bad consumer rated company you can get NO to your insurance claims
Auto Insurance providers in Canada
Auto Insurance companies in USA
Legal requirements of Auto Insurance USA

Difference Between Financing and leasing

Financing and leasing are both the same things in a way but slightly differ in procedures and liabilities. For example Financing a car means bank buy a car car and rent it to you on installments and down payment. At the end when yo pays off the amount bank paid to car dealer plus interest then bank deliver the ownership of car on your name. Auto leasing is in a way easy as compared to auto financing.
Auto Leasing needs comparatively less down payment and monthly installments. Leasing bound you in a contract to drive limited amount of miles for auto to be driven during lease term. Leasing needs a good credit history to be approved for lease. Auto Leasing or leasing of any other asset needs higher and much stronger auto insurance coverage. This amount of  auto insurance is more than if you buy a auto on cash. With a lease of 3 years it have the advantage of warranty and less depreciation. Auto leasing needs a balloon payment at the end if you want to own a car.

Auto leasing is suitable for countries where used car prices go down with the passage of time. Where car depreciates quickly leasing is good option. But where used car prices do not depreciate much and it is possible to sell cars with less depreciation after 3 or above years It better to go for car financing

Auto Leasing advantages

-Drive a new car in manufacturers warranty with less than buying a car
-Less Down payment
-less installments

Disadvantages of Auto Leasing

-Mileage restriction
-Ballon payment at the end if you want to Own car

List Of Canadian Car Insurance Companies

Car Insurance Tips & Tricks

  1. car Insurance Premium depends upon insurance coverage requirements in different states. First know what are the Insurance coverage requirements in your state. you can check these requirements for different states from HERE
  2. Value of Risk coverage or Liability Limit allow car insurance applicant to save money. Those who have high value assets in their car opt for high liability limits.
  3. Compare the quotes from different companies available in your state.
  4. Applicants with bad driving records may pay higher premium and car insurance costs
  5. Look for hidden charges of car insurance policy.
  6. Read the policy agreement carefully.

List of car Insurance companies In USA | Auto Insurance Prviders in United States

  •  Allied Insurance
  • Allstate
  • 21st Century Insurance
  • AccuQuote
  • Alleghany Corporation
  • American Automobile Association
  • American Family Insurance
  • American Income Life Insurance Company
  • American International Group (AIG)
  • American National Insurance Company
  • Ameritas
  • Amica Mutual Insurance
  • Aon Corporation
  • Assurant
  • Assurity
  • Auto-Owners Insurance
  • AXA Equitable Life Insurance Company
  • Bankers Life & Casualty Company
  • Berkshire Hathaway
  • California Casualty
  • Capital Insurance Group
  • Cincinnati Insurance Company
  • CNA Financial
  • Colonial Life & Accident Insurance Company
  • Commerce Insurance Group
  • Conseco
  • Country Financial
  • Chartis
  • Chubb Corp.
  • Encompass Insurance Company
  • Erie Insurance Group
  • Esurance
  • Everest Re Group
  • Evergreen USA RRG
  • Farmers Insurance Group
  • Federated Mutual Insurance Company
  • General Re
  • Genworth Financial
  • GMAC Insurance
  • Guardian Life Insurance Company of America
  • Hanover Insurance
  • The Hartford
  • HCC Insurance Holdings
  • Hereford Insurance Company
  • Infinity Property & Casualty Corporation
  • Insurance Company of the West (ICW Group)
  • International Fidelity Insurance Company
  • Illinois Mutual
  • Jackson National Life
  • John Hancock Insurance
  • Kemper Insurance
  • lgap Insurance
  • Knights of Columbus Insurance
  • Liberty Mutual
  • Markel Corporation
  • MassMutual Financial Group
  • Merchants Insurance Group
  • Mercury Insurance Group
  • MetLife
  • Mutual of America
  • Mutual of Omaha
  • Nationwide Mutual Insurance Company
  • New Jersey Manufacturers Insurance Company
  • New York Life Insurance Company
  • Northwestern Mutual
  • Ohio National
  • OneBeacon
  • Oxford Health Plans
  • Pacific Life
  • Penn Mutual
  • Primerica
  • Principal Financial Group
  • Progressive
  • Protective Life
  • Prudential Financial
  • The Regence Group
  • Reliance Insurance Company
  • Response Insurance
  • RLI Corp.
  • Safe Auto Insurance Company
  • Safeco
  • Safeway Insurance Group
  • Sentry Insurance
  • Selective Insurance
  • Shelter Insurance
  • Southern Aid and Insurance Company
  • Standard Insurance Company
  • State Farm Insurance
  • Swiss Re
  • Symetra
  • Tri-State Consumer Insurance Company
  • The Travelers Companies
  • Uniguard - Headquarter in greater Seattle area
  • United Auto Insurance Company
  • Unitrin Direct Auto Insurance
  • Unum
  • Vantislife Insurance Company
  • Volusia
  • USAA
  • Wawanesa Insurance USA (CA and OR)
  • Wells Fargo
  • West Coast Life
  • Western Mutual Insurance Group
  • Western & Southern Financial Group
  • Westfield Insurance
  • Western Reserve Life Insurance Company
  • White Mountains Insurance Group
This list is in alphabetical order

Step by step car Insurance Guide | Procedure for car Insurance

(1) First thing is to Identify your vehicle and then providing all the following details to your Insurance provider, This identification can be done with following
a) Maker of the car
b) Model of the car
c) VIN No. Vehicle Identification No. of car
d) Registration No.
e) Engine, Horse Power
f) Color

(2) second important thing is Knowing the terms and conditions of Insurance agreement. It s very important to read carefully all the details mentioned in car insurance policy statement. Because there are some hidden term that usually not discussed while the agreement is being made but can play important role at the stage of claim settlement.

(3) Knowing the monetary value of risk the company is going to insure. when people apply for insurance the usually do not look for the total value of risk they are going to insure. It became important on the time of claim settlement when insured ask for settlement and insurer tell him/her that company is bounded by total value of risk that is covered not the every thing on current market price in the car.

(4) Premium. Premium of the policy matters alot because it is the biggest amount you have to pay to insurance company at the start.

(5) Value Addition. It is the addition in your policy. If you want to an extra benefit in your policy then you have to pay an additional premium to enjoy the benefit, for example if you want to change your car or you have added an high class sound system and want to include that in your car insurance coverage you have to pay an additional premium.
If you have reduced the value of your car for example you have sold high quality alloy rims and added simple rims to your car your insurer will be bound to pay back to you premium included for those rims in insurance coverage policy.

Auto Insurance Legal Requirements in different states of America

All states in US has different Insurance Requirements for auto insurance.

Insurance Requirements are represented by three numbers

for e.g  ______              Georgia =15/30/10  

            Georgia =body injury coverage / maximum per accident / property damage liability 
It means For Georgia $15,000 worth of bodily injury coverage per person injured with a maximum of $30,000 per accident, and $10,000 of property damage liability insurance.

Below the insurance requirements in different states

New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Rhode Island
South Carolina
South Dakota
West Virginia

Highest Auto/motor Insurance requirements are in states of Alaska & Maine with 25/50/100

Lowest Auto/motor Insurance requirements are in states of Florida, Louisiana & Oklahoma with 10/20/10


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