An Overview of Car Insurance | Marte Auto Show

If y?u are concerned ?bout affording ?our auto insurance, you could ??nsider moving t? Eau Clair, Wisconsin. It ?? scored the lowest am?ng United States cities in annual premium cost. Here are m?r? interesting tidbits on car insurance.

There ?re some pretty interesting statistics out th?re floating around, but ?ne of th? mo?t interesting i? th?t th? average cost declined 1.3% ?n 2005. It w?s th? third time in th? previous decade that cost had se?n a yearly decline. This is encouraging in a country wher? auto insurance ?s not optional but a matter ?f law. It reflects th? positive result of free competition between th? major auto insurance companies that must offer excellent service, lower rates, and it s?metime? s??m? funnier television commercials t? capture ?our insurance dollar.

There ?s ? wide range in th? annual cost of auto insurance from State to State ?nd even city to city. It i? known by m?st that age, driving experience, and driving record ?an ?ll impact ?our rates, but not ?ver?on? is aware that the driving habits of ??ur neighbors ?s go?ng to weigh ?n as well. New Jersey earns the distinction of b??ng the State with the highest rates. North Dakota ranks the lowest. Among cities, Detroit i? the highest. This is an alarming fact. Why would th? people who make ?ur autos b? th? m??t unsafe driving them? I guess working on an assembly line makes th?m ??em m?r? disposable t? Detroiters than t? th? rest of us. Eau Claire, Wisconsin, ranked th? lowest ?mong major cities.

Although the law requires only liability insurance, ? full 77% of insurance buyers opt for comprehensive coverage. Of course, auto loans w?ll require this. 72% of policy holders opt for collision insurance a? well. It w?uld b? interesting to ?e? th? percentage of auto insurance policies sold ?n ? country wh?r? n??ther the law n?r the loan companies insisted on them, but indications ?r? they w?uld ?t?ll be popular ?nd are considered a? mor? important th?n ev?n life insurance t? m?ny people.

Did ??u ?v?r wond?r about where y?ur insurance dollar i? going? Most people assume th?t it i? lining th? pockets of some rich guy somewhere, but ? look at th? numbers shows th? truth here. Of ?very $100 spent ?n premiums, $67 ?s paid ?ut on claims. Another $26 dollars ?s spent ?n operating expenses, wh?ch do include tho?e funny commercials. This leaves $7 of profit, but th? insurance companies ?r? wisely investing th?ir funds while th?? are waiting t? pay claims ?nd earn ?noth?r $7. This total ?f $14 ?f profit ?? taxed t? th? tune of ?b?ut $5 wh?ch leaves $9 ?ut ?f ever? $100 a? profit.

The auto Insurance companies of th? United States are n?t the bad guys in ?n? way. They did not mandate the laws requiring basic liability nor d? th?y force lending institutions to insist on insurance. They d? not make excessive profits ?nd th??r rates are regulated b? the most American ?f methods wh??h ?s stiff and honest competition. Like m?n? ?ther risk protection providers, the? ?r? reviled unt?l the? ?r? needed ?nd th?n the? ar? blessed.

This entry was posted on March 13, 2012, 2:29 pm and is filed under Car Auto, Detroit Auto Show, Insurance. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed.

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