General Motors India is thinking of concentrating more on the small car segment. Compare to the mid-size cars, the Chevrolet small cars are making superb sales in India. Now the car manufacturer has decided to sell more small cars compared to mid-size and executive sedans and high-end SUVs.
For instance, the mid size Optra’s market share fell from 12.6 percent to 3.04 percent from April 2008 to February 2009.
The car manufacturers are experiencing top-notch growth in the small car segment and therefore continue to focus on them. Chevrolet Spark, one of the popular cars from its stable saw a growth of 4.14 percent in February 2009 against 3.65 percent in April 2008.
According to auto industry analysts, GM has moved its focus in idea of the fact that 75 per cent of India’s passenger car market is dominated by compact cars. The car manufacturer is now concentrating at the volume rather than the value aspect in order to push the sales.
Filed under Compare Car Insurance by on Mar 14th, 2011. Comment. 
Insurance is all about statistics and risks. Unfortunately for students, the statistics present that they are more likely to be involved in vehicle accidents and to show poor driving skills based upon their lack of driving experience and age. Affordable car insurance rates can be had for students who do their homework and make some concessions.
Defensive Driving - Plot approved defensive driving courses could offer a discount for student drivers. More education and driving instruction means safer drivers on the road. Many insurance carriers will give a discount for such instruction. However, classes that are mandatory because of traffic violations will not qualify for such discounts. The whole point of a defensive driving discount is to reward for knowledge and safety; traffic violations run contrary to safe driving practices.
“A” For Effort - Here’s another reason for students to hit the books. Good grades can pay off in the real world in the form of auto insurance discounts. Insurance companies often give discounts to students who maintain good grades.
Family Policy - A students insurance can be cheaper if they are insured on their parents policy instead of taking out their own insurance separately. A few calls and some research can determine the difference in rates for being insured with their parents or going it alone. Provided that the student qualifies to stay on their parents insurance and the parents allow it, it may be more cost efficient to consider doing so.
Resident Student – In addition to riding on a parents policy, students can receive a lower rate from the insurance companies that give a discount if the student is attending a school that is closer to home.
Higher Deductible - This insurance tip applies to everyone. A higher deductible can save you money on your policy, but you have to be prepared to cover the deductible should a collision occur. You have to weigh the cost versus the possibility that you won’t be able to afford to pay the higher deductible if the need arises.
Insurance Friendly Cars - A students dream car is rarely a car that will inquire a low insurance rate. Instead of opting for sports cars, a student driver should engage a car with a lower associated insurance risk to enact a better rate.
Skip Collision - Provided you don’t have a car note, you can probably skip collision coverage if your car has a low value. If you are driving around a cheap junker, then you can probably do without the extra expense.
Safety Features - If you do have a newer, more expensive car; you can shave some insurance cost off with safety features. Things like automatic seatbelts and anti-theft devices can net you some savings on your premiums.
Multiple Policy Discounts - Insurance companies want all your business. If they offer different insurance coverage, then they will usually give you a discount for bringing all your business to them. Renters insurance is a possibility for students who are away from home while going to school. For students who are on their parents policies, life insurance or homeowners insurance are options for additional coverage.
Shop Around - Sometimes a little extra leg work can mean big savings. Instead of automatically renewing with the same company; shop around and see what other companies have to offer and how they compare.
All discounts and savings may not apply to certain students or be valid in certain states or with certain insurance companies. Produce sure you have all the facts about what discounts you are eligible for. One final tip; know that you can change insurance in mid-policy. There is no need to stay with a company until your policy expires if you find somewhere else you would rather be.
Resources
Money Smart Life – College Student Car Insurance, Tips on getting the best rates for students
Rocky Mountain Insurance Information Association – Teens Shopping For Auto Insurance
Auto Insurance Discounts vs “Discount Auto Insurance” – Discounts On Auto Insurance
Filed under Farmers Car Insurance by on Feb 27th, 2011. Comment.
Shopping around for car insurance is a given in today’s economy, but getting a decent premium price is just the beginning of what savvy car insurance shoppers need to focus on. What you don’t know can have a big impact on your wallet or pocketbook. Bright Money has some shiny tips for keeping as much of your money in your possession, and away from your car insurance company.
1. The motive for recommending a policy may be self interest, not your interest.
Spacious auto and home insurers use “contingent commissions” to compensate agents that sell their policies. The basic two types of commissions are “steering commissions” for signing customers up for a particular insurance company, and “profit based commissions” for signing customers up who don’t file a lot of costly claims. The problem with the first type of commission is agents may sign you up to a company impartial for bigger commissions, and the second commission type agents would discourage you from filing a claim at all. Protect yourself by asking agents why they made a certain recommendation.
2. Young drivers are at a disadvantage proper from jump.
According to AllInsuranceinfo.org it typically takes three years of driving experience to gain a lower rate. Drivers under 25, especially males are in a high risk group and will find it difficult to get insured. In the short term a lower rate is possible by picking a lower engine capacity vehicle, and staying away from high performance sports cars. Younger drivers can also ask their insurer how to come by a lower premium rate, which may be as simple as taking a defensive driving course.
3. Bad credit may harm you as well.
According to the Insurance Information Institute, a New York based organization, over 90 percent of insurers use credit histories as a basis for insurance underwriting. Unfortunately, since the 1990′s insurers have found a correlation between low credit scores and filing multiple claims. Check your credit report for inaccuracies before shopping for insurance.
4. How are insurance premiums calculated? “Good luck finding out for sure”
Prices vary from state to spot, and according to a study in 2007 from The National Association of Insurance Commissioners the prices varied from a grievous of $664 in Iowa to $1,343 in the District of Columbia, based on a 2005 year long average of $949. Twenty years ago premiums fit into four or five pricing tiers, based on a persons age, where they lived, and their driving record. Now many more variables have been added, including home ownership and credit history just to name a few. Insurers use this information differently so it’s almost impossible to figure out where you stand with a particular insurer.
5. Car looks and runs huge after repairs, but the value just dropped.
Even after using manufacturer parts and not generic after market parts your cars value may still diminish after an accident and repairs. So there isn’t a total loss the diminished value on the car can be written off your tax return. Consult your tax preparer to catch maximum write-off value.
6. Totaled your car? No way your getting full value
You may be surprised to find out that Insurance companies do not use standard sources like Kelly Blue Book to choose valuations. Instead many insurers use claims servicing companies. Don’t accept the first offer from your insurance company. Consult autotrader.com or Edmunds.com to find better comps, and verify prices on the insurers picture by calling the sellers listed. If that doesn’t work for you go through your own appraisal-arbitration process by hiring an appraiser, especially if the difference is $1,000 or more.
7. The car is declared totaled by Insurer
It’s becoming even more difficult to have all repairs covered, which is what most policyholders would bewitch. An insurer is likely to declare your care totaled if repairs exceed 70 percent of the total value of the vehicle. It’s gets even trickier if the frame is damaged. If you don’t agree with your insurers declaration of totaled you can appeal the decision.
8. Your mechanic is under our employment contract.
Insurers have always had recommended repair shops, but now in the last decade it’s gone a step further. Allstate in 2001 announced the purchase of a nationwide chain of car repair shops. Consumer advocates are nervous with this type of set up. Some site a conflict of interest, especially since insurers are trying to hold cost improper. Some insurers may reduce or waive your deductible if you exercise their recommended repair shop. Just have an after repair mechanic certify the job was done correctly.
9. Brand loyalty may not be a good idea.
You might be better off comparison shopping once a year rather than automatically renewing with the same company. Gather a variety of quotes from Allstate, Progressive, Geico, and State Farm. You may be surprised at the results.
10. Switching Carriers may cost you so be careful.
If your going to switch carriers make sure to get a new carrier before you cancel your outmoded carrier. Your vehicle must be covered by insurance at all times with no lapses. if their is a lapse in insurance coverage it may cost you dearly.
Filed under Farmers Car Insurance by on Feb 25th, 2011. Comment.
Shopping for car insurance has become a circus act in current years. Turn on the radio, television or even surf the web and voila, there is an advertisement for the cheapest car insurance in town. Here’s what you need to assume about before you go shopping for car insurance.
The first thing you want to do is look at your finances. Study at what kind of insurance you currently have, if you have it, and how much you pay, or can pay.
Keep in mind that when you hear a commercial for low rates that nothing is free, and usually when you buy something at a discounted rate, you get service to match.
You will want to look at your assets, and protecting them. Look at how much liability (lawsuit protection) you really want, or need, because that midnight traipse to the corner store could waste up in a four car accident with you at fault.
Grasp a look at your car. If it was hit while you were shopping and no note was left, could you cover the entire repair bill? If it was stolen, could you afford to replace your car on your own?
Take a deep peer at your driving record. Any infractions will be found out sooner or later.
In the state of California, there is no accident forgiveness. When you see an advertisement, always read the exiguous print. Many enticing offers are not allowed in California, but can be advertised nationally.
Check Consumer Reports for insurance company ratings. Observe at ratings not only for claims, but customer satisfaction.
Decide if you are an “online only” person, or if you like the face-to-face help a local agent can give you.
Lastly, have all of your current information in one place so it is easily accessible when you decide to go for a quote.
Good luck!
Filed under Compare Car Insurance by on Feb 22nd, 2011. Comment.
Insurance companies leer for any reason to raise your rates. It shouldn’t come as a surprise then that car insurance rates increase with higher car theft rates. Apparently, it’s the car owner’s fault when a car is stolen; therefore, insurance rates must increase to prevent any reoccurrence. At least, it sounds like a good reason, unless you’re the one paying the higher rates.
~Think Before You Buy
Some cars have higher theft rates than others. The Honda Civic, Honda Accord, and Toyota Camry are three of the most commonly stolen vehicles in the United States according to BuyingAdvice.com. It serves to reason that insurance rates for owners of these cars are higher than that of others.
When shopping for your next car, do a little research in advance to stare theft statistics for your desired make and model. This may not be the most pleasant task, especially amidst the excitement of buying a unique car. However, choosing a less theft prone vehicle may save you time and money in the future.
~Anti-Theft Devices
Purchasing a vehicle with anti-theft devices can help decrease your insurance rates. In disagreement, a lack of anti-theft devices can increase your rates. Many auto insurers offer discounts depending on the anti-theft devices installed on your vehicle. However, these added features may cost more when purchasing a car. Not to mention, adding them on yourself can be quite a large investment. You may want to perceive at the savings in insurance rates versus the cost of the anti-theft devices before adding on too much.
The list below features some of the more popular anti-theft devices for cars.
- Wheel Locks
- Tire Locks
- Alarm systems
- GPS Tracking devices
- Steering column locks
- Starter and fuel disablers
~Research Insurers
If your rates increase simply because statistics say your car is more likely to be stolen than your neighbor’s, then start researching insurance companies. Even if you’ve been with the same auto insurer for years, it may be time for someone unique. Many auto insurers offer discounts for new policy holders. Also, finding an insurer with discounts for safe driving, safety devices, and anti-theft devices can save you hundreds a year.
Cars and insurance cost enough as it is. Your rates shouldn’t increase due to circumstances outside your control. Even if you can’t control the rates themselves, you can find discounts that will help balance your rates. Your model and city can drastically affect your insurance rates. Research the statistics before you prefer to find the best deals on car insurance.
Filed under Infinity Car Insurance by on Feb 20th, 2011. Comment.
