Finding The True Cost Of
Your Auto Insurance

Auto insurance is a competitive business nationwide. And comparison shopping can translate into affordable auto insurance quotes you can live with.

That's why we established InsureMe, your one-stop-shop for auto insurance quotes and information. You give us pertinent information about yourself and your driving record. We supply you with informative articles and information about auto insurance, then collect your information and give it only to local insurers, who compete for your business.

InsureMe is THE place for online auto insurance quotes and information. Give us a try and find out for yourself today!

 

The True Price of Auto Insurance

Automobile-related expenses rise year after year, causing auto insurance quotes to soar in response. Rising medical and legal costs, sharply increasing vehicle repair prices, theft, fraud and drunk driving all contribute enormously to auto insurance quotes. These are the principal drivers behind high auto insurance rates today, according to the Insurance Information Institute (III).

Let's examine these issues and their related costs further.

Medical and Legal

Each year, more than two million automobile accidents result in injury. Typical costs for treating an auto accident victim range from $6,000 to $9,000—but can easily run into the tens of thousands of dollars, says the I.I.I. In addition, the U.S. Department of Transportation estimates that accident-related deaths cost our society more than $150 billion every year, further driving auto insurance quotes.

Related legal expenses drive auto insurance quotes up even farther, with auto liability payments rising 44 percent in 2000. Jury awards for vehicular liability sometimes approach outrageous sums today, representing further cause for increased auto insurance rates.

Vehicle Repair

Automobile technology, construction and design advancements have accompanied auto-damage liability increases in recent years.

Depending on the type of car you purchase, high repair costs may be inherent—which also means higher auto insurance quotes. The cost of manufacturing and repairing vehicles with innovations such as lighter, smaller construction and thinner glass has negatively impacted auto insurance quotes and prices.

In addition, many consumers choose to add rental car coverage to their auto insurance policies, adding further to the price insurers must pay to get them back on the road. All these expenses combine to raise the price of auto insurance quotes.

Theft

Vehicle theft sometimes seems rampant in society today. The III estimates a motor vehicle is stolen in the United States every 24 seconds—and both auto insurance quotes and claims records reflect this trend.

Auto theft is covered under the comprehensive section of your auto insurance policy. Risk of loss—or the likelihood that your car will be stolen or damaged—determines the price you pay for this type of insurance.

The dollar amount for claims filed due to theft shows, in part, the higher value of new cars on the road. These newer vehicles become targets for thieves and, because they cost more to repair when subsequently involved in an accident or stolen, are also associated with higher auto insurance quotes.

The National Insurance Crime Bureau (NICB) recommends a multi-layered approach to prevent auto theft:

• Common sense—use your car's standard safety features regularly. Includes locking your car and taking the keys.
• Warning device or alarm—activate and use to deter thieves.
• Immobilizing device—use a fuel cutoff or smart key to prevent a burglar from being able to drive your vehicle.
• Tracking device—allows law enforcement to track and recover your vehicle, if stolen.

Fraud

Fraud is the second most costly white-collar crime in America, costing consumers an estimated $30 billion annually, according to the NICB. The most common fraud schemes involve insurance and include bodily injury fraud, auto repair fraud, homeowner's claim fraud and worker's compensation fraud. Higher auto insurance quotes are one result.

Auto fraud involves criminals who stage bogus auto accidents, then file insurance claims for payment. Not only is this against the law—it can cause injuries and even have deadly consequences, as well as drive up your auto insurance quotes. Fraud is a major problem in some states, including New York, Florida and Massachusetts.

The NICB provides these tips for preventing auto insurance fraud:

—Avoid tailgating, allowing sufficient distance between your car and the one in front of you while driving.
—Call the police to the scene and file a report immediately when involved in an accident.
—Carry a disposable camera in your vehicle and photograph damages to your car and occupants of the other vehicle if a mishap occurs.

Note: InsureMe's online auto insurance quoting service verifies its referring agents' licenses in order to protect you from fraud.

Drunk Driving

Impaired driving will affect one in three Americans, according to a study by the National Center for Injury Prevention and Control (NCIPC).

Alcohol-related crashes kill someone every 31 minutes and non-fatally injure someone every two minutes, making them one of the largest contributors to high auto insurance prices. In addition, these accidents cost the insurance industry about $51 billion a year, translating into high auto insurance quotes for the consumer.

Although the risk of being involved in a car crash of any type is greater for young people than for the elderly, death or injury from impaired driving does not discriminate between victims. So avoid drinking and driving to keep everyone safe on the road and lower your auto insurance quotes.

 

The Final Say

Now that you have the scoop on what's really behind your auto insurance quotes, you have the final say. Let us put you in touch with up to five insurance agents who understand these issues and their impact on your life.

Why not contact InsureMe today? After all, no one knows insurance like InsureMe!

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