Posts Tagged ‘Auto Insurance’

Last week the Arizona Republic reported an auto accident that occurred in Glendale. It is suspected that the insured driver hit the gas instead of the brake causing the car to go through the east side of the building. The property damages were assessed at $40,000. The questions I propose to all of my blog readers is..

If this were you, do you have enough coverage???

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Ford introduced a new safety feature in their 2010 Ford Focus. MyKey allows parents to limit the speed and audio volume of the vehicle.  The safety feature also provides safety belt usage, provides earlier low fuel warnings. For the speed precaution feature the device can create a chime sound as the vehicle gets higher and higher in speed to warn the driver to slow down.

 Motor vehicle crashes is the leading cause of death for teenagers. With 16 year old teens having a higher crash rate than any other age. In 2008, 3,500 teens in the United States between 15-19 were killed.

 Hopefully technology like this can help reduce the number of motor vehicle accidents, not only among teens but all ages. Ford’s research for the MyKey program shows that 75% of parents like the idea where 72% of teens didn’t like it.

 For more information on the MyKey program : http://media.ford.com/article_display.cfm?article_id=29172

According to Insure.com an Arizona driver that pays the annual  rate of approximately $1152 per vehicle  and has an annual income of approximately $42,000 pays around 3 percent of his or her gross income for auto insurance alone.  Arizona was the ninth most expensive state to insure your vehicle, according to new documents we have moved to the 43rd.   Louisiana is ranked number one ($2500 per vehicle) for the most expensive state to insure your vehicle and is closely followed by the state of Michigan ($2098 per vehicle).  Currently, Maine is the most affordable state at $900 to insure your vehicle. 

Why such a difference?

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This morning on azcentral.com there was an article about a teen who took the parents car without consent. The boy was told by his parents that he was not allowed to take the car unless going to specific places. He decided that he could get around the disciplinary action, and went out with his friends.

There was an accident with serious injuries.

Who is liable the parents or the kid?

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Have you checked your auto insurance coverage lately to see what your liability coverage is?

Many people still have 1980′s coverage 

Too many people are still maintaining 100/300/50 (dollar) liability limits which were excellent levels back in the 1980’s.  To review, $100,000 is the limit per person for bodily injury coverage; $300,000 is the total amount for bodily injury coverage (for everyone); and $50,000 is the coverage for property damage.

While rental car companies consider this to be the minimum amount of coverage required, and states have even lower requirements, in today’s dollars you are taking considerable risks every time you drive.

If you were to be involved in an auto accident involving three or four cars, or if one or two individuals were seriously injured, 100/300/50 liability coverage would probably NOT be sufficient enough to cover the costs of the claims.  Which means, you would then be hit with the bills which could run into the tens or hundreds of thousands of dollars.

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This is going to be a great weekend with warm, clear sunny skies (finally!) and the Good Guys Spring Nationals Car Show at Westworld in Scottsdale.

I enjoy the Good Guys show events immensely.  These weekend happenings are really a big party in honor of those of us who love the automobile hobby.  There’ll be street rods, classic cars, antiques, muscle cars as well as a mind-boggling assortment of vendors and a swap meet for those enthusiasts looking for their dream car project.

Only cars built from 1972 and earlier are allowed into the show, and with the nearly 4,000 cars anticipated to be on-site there’ll be a multiple of sights, sounds, and smells to take in.  The artistic lines of the different models are masterfully crafted while the mingling of the leather,exhausts and oil smells are ever present with various motor pitches.

To the prom in a ’58 Chevy

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