How to Find the Best Auto Insurance Rate With the Best Company
by Brian Stevens
Most of us are looking for the best auto insurance rates with a top rated insurance company. But how do you find it without spending half your life visiting insurance offices or talking to agents. Here's a quick and easy way ...
How do I get the best auto insurance rate?
As a former insurance agent I get asked this question all the time, and each time my answer is the same: "Shop and compare."
The only way to know if you're getting the best car insurance rate for your particular situation is to comparison shop, and the best way to do that is to fire up your computer and shop online.
There are a number of sites where you can get auto insurance rates from A-rated companies, and it only takes a couple of minutes to get multiple quotes from a number of top companies so you can compare rates. (See links below.)
When you go to one of those sites you'll be asked a series of questions in order to tailor the quotes to your particular situation. Some things you want to consider in order to get the best auto insurance rate are:
* Dropping your collision and comprehensive coverage - If you have a older car that's not worth a lot, you may want to drop your collision and comprehensive coverage. A good rule of thumb is if your annual premium for your collision and comprehensive insurance exceeds 10% of your car's value, consider dropping them.
* Raising your deductible - If you make a lot of small insurance claims, your insurance company may cancel your insurance. So raising your deductible by a couple of hundred dollars will not only save you hundreds of dollars a year on your insurance premium, it may also save you from having your insurance canceled.
* Adding security devices - Insurance companies will give you discounts for installing anti-theft devices and auto alarms. Installing these devices not only saves you money, it will give you peace of mind knowing that your car is less likely to be stolen.
How do I know the company I pick is a good company?
Insurance companies are rated by various independent organizations like A.M. Best, Standard and Poor's, and Moodys. Unfortunately you have to subscribe to their service to get their information, and they only rate companies primarily on financial criteria and not customer experience.
If you want to get the inside scoop to find out which companies have the best service and pay insurance claims the quickest, surf over to epinions.com. Here you'll get consumer ratings and reviews from actual customers who've used a company's services. Believe me, it can be a real eye opener.
Visit http://www.LowerRateQuotes.com or click on the following link to get the best auto insurance rates with A-rated companies, and see how much you can save. You can get more car insurance tips by checking out their "Articles" section.
About the Author
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on how to find the best auto insurance rates.
Monday, February 26, 2007
Tuesday, February 20, 2007
Key Considerations For Selecting Auto Insurance
Key Considerations For Selecting Auto Insurance
by Ray La Foy
Many people look forward to buying car insurance about as much as having their wisdom teeth pulled by a dentist named Dr. Pain. Today I intend to show you how to take a lot of the sting out of purchasing car insurance by arming yourself with a little knowledge.
Many people believe car insurance is a simple as black or white, either you have "liability" or "full" coverage. In fact there many important options in between. In becoming informed you will need to know how to research, and what questions to ask.
The three key considerations when purchasing car insurance are price, coverage, and company. The first key consideration when buying car insurance is price. The matter of fact is that you will never find one company that has great rates for everyone. Different companies target different age and risk groups, so while one company has a good price for your friend, they make not have a great price for you.
Usually 10-15 quotes will probably give you a good range of prices to choose from. A good resource you can always rely on is the yellow pages, where the listings are localized to your specific area and everyone who is anyone is there both big and small.
The second key consideration when buying car Insurance is coverage. Coverage varies from company to company but the basic components usually remain constant. The first is liability. Liability pays in the event you hit and injure another person or damage there vehicle. The two parts of Liability coverage are Bodily Injury and Property Damage. Both are expressed in thousands of dollars. The property damage is the second number and indicates how much the company will pay to fix the other person's car or property.
Medical payments pay a flat amount per person for anyone injured in your car regardless of fault. They range from between $500 to $5,000. This amount is not meant to absorb the cost of an injury, but to offset immediate out of pocket expenses such as health insurance deductibles.
The third is uninsured and underinsured motorist coverage. This protects you and your passenger in the event you are hit by a driver with no insurance or not enough insurance. The fourth is comprehensive and collision covers damage to your car. Collision pays to fix your car in the event it is damaged in an accident that is your fault. Comprehensive pays in the event of fire, theft, and vandalism or anything collision does not.
A deductible will usually apply and is the amount of money you must first pay and the insurance will pay the rest. Deductibles range from $50 to $5000. The higher the deductible, the lower your cost.
The fifth is towing and rental reimbursement. Towing provides a flat amount of coverage per disablement and rental reimbursement pays a specified amount per day in the event you need to rent a car while yours is being repaired.
The sixth and final coverage is Special Equipment coverage. This covers any special equipment installed or attached to the vehicle not factory or dealer installed. This will usually include rims, stereos and custom accessories. How much or which coverage is right for you? It's a personal decision that no one can make for you.
The third key consideration when buying car insurance is the company and agent. When buying insurance the quality of the company should be taken into consideration. One way to evaluate the quality of a company is to inquire about their "Best" rating. The rating is based on their financial strength, operational performance and ability to meet their obligations.
In conclusion if you spend a little time checking out the three key components of buying car insurance price, coverage and company, you can avoid a lot of headaches later especially in the event of an any accident. With a little information and little more leg work, you can eliminate any confusion from this process and be sure you have the right car insurance for you.
About the Author
Great rates on car insurance
Car insurance quotes.
http://www.carinsurancequotesfaq.com
Save on your vehicle coverage
Auto insurance.
http://www.autosaveinsurance.com
by Ray La Foy
Many people look forward to buying car insurance about as much as having their wisdom teeth pulled by a dentist named Dr. Pain. Today I intend to show you how to take a lot of the sting out of purchasing car insurance by arming yourself with a little knowledge.
Many people believe car insurance is a simple as black or white, either you have "liability" or "full" coverage. In fact there many important options in between. In becoming informed you will need to know how to research, and what questions to ask.
The three key considerations when purchasing car insurance are price, coverage, and company. The first key consideration when buying car insurance is price. The matter of fact is that you will never find one company that has great rates for everyone. Different companies target different age and risk groups, so while one company has a good price for your friend, they make not have a great price for you.
Usually 10-15 quotes will probably give you a good range of prices to choose from. A good resource you can always rely on is the yellow pages, where the listings are localized to your specific area and everyone who is anyone is there both big and small.
The second key consideration when buying car Insurance is coverage. Coverage varies from company to company but the basic components usually remain constant. The first is liability. Liability pays in the event you hit and injure another person or damage there vehicle. The two parts of Liability coverage are Bodily Injury and Property Damage. Both are expressed in thousands of dollars. The property damage is the second number and indicates how much the company will pay to fix the other person's car or property.
Medical payments pay a flat amount per person for anyone injured in your car regardless of fault. They range from between $500 to $5,000. This amount is not meant to absorb the cost of an injury, but to offset immediate out of pocket expenses such as health insurance deductibles.
The third is uninsured and underinsured motorist coverage. This protects you and your passenger in the event you are hit by a driver with no insurance or not enough insurance. The fourth is comprehensive and collision covers damage to your car. Collision pays to fix your car in the event it is damaged in an accident that is your fault. Comprehensive pays in the event of fire, theft, and vandalism or anything collision does not.
A deductible will usually apply and is the amount of money you must first pay and the insurance will pay the rest. Deductibles range from $50 to $5000. The higher the deductible, the lower your cost.
The fifth is towing and rental reimbursement. Towing provides a flat amount of coverage per disablement and rental reimbursement pays a specified amount per day in the event you need to rent a car while yours is being repaired.
The sixth and final coverage is Special Equipment coverage. This covers any special equipment installed or attached to the vehicle not factory or dealer installed. This will usually include rims, stereos and custom accessories. How much or which coverage is right for you? It's a personal decision that no one can make for you.
The third key consideration when buying car insurance is the company and agent. When buying insurance the quality of the company should be taken into consideration. One way to evaluate the quality of a company is to inquire about their "Best" rating. The rating is based on their financial strength, operational performance and ability to meet their obligations.
In conclusion if you spend a little time checking out the three key components of buying car insurance price, coverage and company, you can avoid a lot of headaches later especially in the event of an any accident. With a little information and little more leg work, you can eliminate any confusion from this process and be sure you have the right car insurance for you.
About the Author
Great rates on car insurance
Car insurance quotes.
http://www.carinsurancequotesfaq.com
Save on your vehicle coverage
Auto insurance.
http://www.autosaveinsurance.com
Wednesday, February 14, 2007
Cheap Auto Insurance For Your Car
Cheap Auto Insurance For Your Car
by Elizabeth Newberry
There are many ways to get cheap auto insurance for your car. Perhaps you want to switch auto insurance companies in order to obtain cheap auto insurance for your car. Or, maybe you want to make some safety changes to your car in order to get cheap auto insurance for your car. Whatever you want to do, chances are you will spend some time searching for the auto insurance company that will give you the cheapest auto insurance quote for your car.
However, the situation can change when you are buying a new car. You may or may not already have an auto insurance policy. You may or may not want to keep that auto insurance policy. Whatever the case, part of the shopping process when you are shopping for a new car is to make sure you have an auto insurance policy before you drive it off the lot.
Instead of frantically searching for an auto insurance company that will give you cheap auto insurance for your new car, take advantage of one of the new features some car lots have integrated into their customers' car-shopping experience. These car lots have set up computers with Internet access to allow their customers to search for cheap auto insurance policies for their new cars!
Not only is this extremely convenient for customers; this is also a wise financial move for car dealerships. Many times a car salesman has a sale just within reach and loses it because the customer needs to figure out his or her auto insurance situation first. With this new addition to the car shopping experience, customers can shop for cheap auto insurance policies for their new cars right inside the car dealership!
If you have the chance to use this auto insurance shopping feature, make sure you compare as many cheap auto insurance policies as possible. Don't rush just because your new car is waiting for you.
About the Author
How to Get Cheap Auto Insurance for Your Car Quickly What is the average cost of insurance is in California
by Elizabeth Newberry
There are many ways to get cheap auto insurance for your car. Perhaps you want to switch auto insurance companies in order to obtain cheap auto insurance for your car. Or, maybe you want to make some safety changes to your car in order to get cheap auto insurance for your car. Whatever you want to do, chances are you will spend some time searching for the auto insurance company that will give you the cheapest auto insurance quote for your car.
However, the situation can change when you are buying a new car. You may or may not already have an auto insurance policy. You may or may not want to keep that auto insurance policy. Whatever the case, part of the shopping process when you are shopping for a new car is to make sure you have an auto insurance policy before you drive it off the lot.
Instead of frantically searching for an auto insurance company that will give you cheap auto insurance for your new car, take advantage of one of the new features some car lots have integrated into their customers' car-shopping experience. These car lots have set up computers with Internet access to allow their customers to search for cheap auto insurance policies for their new cars!
Not only is this extremely convenient for customers; this is also a wise financial move for car dealerships. Many times a car salesman has a sale just within reach and loses it because the customer needs to figure out his or her auto insurance situation first. With this new addition to the car shopping experience, customers can shop for cheap auto insurance policies for their new cars right inside the car dealership!
If you have the chance to use this auto insurance shopping feature, make sure you compare as many cheap auto insurance policies as possible. Don't rush just because your new car is waiting for you.
About the Author
How to Get Cheap Auto Insurance for Your Car Quickly What is the average cost of insurance is in California
Monday, February 12, 2007
Hyundai Grabs Award At 2007 Chicago Auto Show
Hyundai Grabs Award At 2007 Chicago Auto Show
by Glady Reign
With the Chicago Auto Show going on, awards keep coming in for the best vehicles being unveiled at the said motor show. Another vehicle to receive yet another award is the Hyundai Entourage.
The minivan was selected as the best in its class by MotorWeek. The Hyundai Entourage won the prestigious Editor's Choice Award in the minivan category along with another Korean vehicle - sharing the distinction of being the best minivan at the Chicago Auto Show with the Entourage is the Kia Sedona. The Hyundai Entourage will be featured on a special episode of MotorWeek along with other winners of different categories. MotorWeek chose winners for their thirteen categories.
John Davis, the producer and host of the automotive show, praised both the Hyundai Entourage and the Kia Sedona in his statement: "This second-generation Korean-branded design matches all the best features of its rivals, and then beats them in the price and powertrain warranty. The leaps that Hyundai and Kia make in perceived quality with each new vehicle are well documented, and the Entourage and Sedona are just the latest examples."
The segment won by the two Korean cars is also acknowledged by Davis. "From school bus to apartment moving, minivans are the most versatile vehicles on the planet," he added further. Indeed, the minivan has always been a favorite among car buyers for their sedan-like handling while having adequate room for cargo and passengers.
The result of the MotorWeek Driver's Choice Award in its 25th year was based on the assessment of fifteen judges. The panel is composed of writers, producers and crews of the PBS automotive series. To come up with the winners, the panel went through 150 vehicles in all of the thirteen categories. These vehicles went through a battery of road and track tests as the board of judges evaluated each car's capabilities. Among the aspects that were checked by the judges are performance, technology, practicality, and overall value from the consumer's perspective. Both the Hyundai Entourage and the Kia Sedona received high marks for all of those criteria.
Hyundai is very proud of the Entourage's achievements, which was quite apparent on John Krafcik's statement. Krafcik is the vice president of Strategic Planning and Product Development for Hyundai Motor America. "Since its introduction last year, Entourage has earned a number of honors and awards including the National Highway Traffic Safety Administration's top five-star crash test rating and the Insurance Institute for Highway Safety's highest honor -the gold 'Top Safety Pick' award," Krafcik stated. "We proudly accept the MotorWeek award, which recognizes the Entourage's spacious interior, powerful performance, and unsurpassed standard safety technologies," he added further.
The award will surely be a big help in the marketing of the Hyundai Entourage. It already boasts of strong achievements that will serve as its anchor in its bid to take over the top spot in its segment. All those recognitions and awards will support the Entourage just how a Volvo motor mount supports an engine.
Aside from the award ad recognitions given to the Entourage, another strong selling point for the car is its safety features. The Hyundai Entourage is equipped with six standard airbags which includes side curtain airbags which covers all three rows of seats. The vehicle also employs an anti-locking brake system for better stopping power. The stability of the minivan is secured, thanks to its Electronic Stability Control with Traction Control System.
Space is also another selling point for the vehicle; it can seat seven comfortably in its three rows of seats. The third seat can be folded down to increase the amount of space for luggage. Its third row seat split configuration of 60/40 adds to its versatility.
About the Author
Glady Reign is a 32 year old is a consultant for an automotive firm based in Detroit, Mi. she is a native of the Motor City and grew up around cars hence her expertise in the automotive field.
by Glady Reign
With the Chicago Auto Show going on, awards keep coming in for the best vehicles being unveiled at the said motor show. Another vehicle to receive yet another award is the Hyundai Entourage.
The minivan was selected as the best in its class by MotorWeek. The Hyundai Entourage won the prestigious Editor's Choice Award in the minivan category along with another Korean vehicle - sharing the distinction of being the best minivan at the Chicago Auto Show with the Entourage is the Kia Sedona. The Hyundai Entourage will be featured on a special episode of MotorWeek along with other winners of different categories. MotorWeek chose winners for their thirteen categories.
John Davis, the producer and host of the automotive show, praised both the Hyundai Entourage and the Kia Sedona in his statement: "This second-generation Korean-branded design matches all the best features of its rivals, and then beats them in the price and powertrain warranty. The leaps that Hyundai and Kia make in perceived quality with each new vehicle are well documented, and the Entourage and Sedona are just the latest examples."
The segment won by the two Korean cars is also acknowledged by Davis. "From school bus to apartment moving, minivans are the most versatile vehicles on the planet," he added further. Indeed, the minivan has always been a favorite among car buyers for their sedan-like handling while having adequate room for cargo and passengers.
The result of the MotorWeek Driver's Choice Award in its 25th year was based on the assessment of fifteen judges. The panel is composed of writers, producers and crews of the PBS automotive series. To come up with the winners, the panel went through 150 vehicles in all of the thirteen categories. These vehicles went through a battery of road and track tests as the board of judges evaluated each car's capabilities. Among the aspects that were checked by the judges are performance, technology, practicality, and overall value from the consumer's perspective. Both the Hyundai Entourage and the Kia Sedona received high marks for all of those criteria.
Hyundai is very proud of the Entourage's achievements, which was quite apparent on John Krafcik's statement. Krafcik is the vice president of Strategic Planning and Product Development for Hyundai Motor America. "Since its introduction last year, Entourage has earned a number of honors and awards including the National Highway Traffic Safety Administration's top five-star crash test rating and the Insurance Institute for Highway Safety's highest honor -the gold 'Top Safety Pick' award," Krafcik stated. "We proudly accept the MotorWeek award, which recognizes the Entourage's spacious interior, powerful performance, and unsurpassed standard safety technologies," he added further.
The award will surely be a big help in the marketing of the Hyundai Entourage. It already boasts of strong achievements that will serve as its anchor in its bid to take over the top spot in its segment. All those recognitions and awards will support the Entourage just how a Volvo motor mount supports an engine.
Aside from the award ad recognitions given to the Entourage, another strong selling point for the car is its safety features. The Hyundai Entourage is equipped with six standard airbags which includes side curtain airbags which covers all three rows of seats. The vehicle also employs an anti-locking brake system for better stopping power. The stability of the minivan is secured, thanks to its Electronic Stability Control with Traction Control System.
Space is also another selling point for the vehicle; it can seat seven comfortably in its three rows of seats. The third seat can be folded down to increase the amount of space for luggage. Its third row seat split configuration of 60/40 adds to its versatility.
About the Author
Glady Reign is a 32 year old is a consultant for an automotive firm based in Detroit, Mi. she is a native of the Motor City and grew up around cars hence her expertise in the automotive field.
Saturday, February 10, 2007
The Basics Of Auto Insurance
The Basics Of Auto Insurance
by Connie Barker
Auto insurance is used to protect an individual or entity against financial loss. Financial loss can occur in many different ways in association with vehicles, and most auto insurance policies agree to cover the individual or entity by providing insurance against property damage, medical coverage and liability damages. For instance, many auto insurance policies cover:
Coverage of property damage, sometimes including theft and accidents
Medical coverage in the case you are inured in a vehicle accident. Many policies cover treating immediate injuries, some policies continue coverage for rehabilitation or even lost wages and funeral expenses.
Coverage for liability damages. Liability coverage will pay for legal damages done to other individuals or property.
Auto insurance is essentially a contract between you and your insurance company. You pay a premium at a regular interval and the insurance company is legally responsible to cover damages that your policy covers.
There are many different types of policies and it should be noted that the vast majority of state governments require an individual or entity to purchase at least basic auto insurance coverage in order to operate certain vehicles on public roadways. In many cases, if you operate a vehicle that is not insured, you can have your license revoked and pay large penalties. Some of the more popular coverage options for auto insurance policies available are;
Collision- this type of coverage protects your vehicle from damages that result from a car accident with another vehicle or with other objects on the road. If your vehicle gets into a car accident, the insurance will pay for repairs or if the car is totaled will cover the damages for the car's worth.
Comprehensive- this type of coverage protects your vehicle from damages that are a result of things other than a collision. For instance, if your radio was stolen and the burglar broke your window and ruined your dashboard, the auto insurance will cover your losses or fix the damage.
Policies are usually for 6 months or a year and the rate that you pay for your premium is dependent on many variables including type of coverage, age, type of vehicle, location of residence and how you use your vehicle. There are many other variables that might be taken into consideration; however each insurance company has their own formula for calculating the cost of a policy.
About the Author
Connie Barker is the owner of several financial websites including those that deal with Auto Insurance
by Connie Barker
Auto insurance is used to protect an individual or entity against financial loss. Financial loss can occur in many different ways in association with vehicles, and most auto insurance policies agree to cover the individual or entity by providing insurance against property damage, medical coverage and liability damages. For instance, many auto insurance policies cover:
Coverage of property damage, sometimes including theft and accidents
Medical coverage in the case you are inured in a vehicle accident. Many policies cover treating immediate injuries, some policies continue coverage for rehabilitation or even lost wages and funeral expenses.
Coverage for liability damages. Liability coverage will pay for legal damages done to other individuals or property.
Auto insurance is essentially a contract between you and your insurance company. You pay a premium at a regular interval and the insurance company is legally responsible to cover damages that your policy covers.
There are many different types of policies and it should be noted that the vast majority of state governments require an individual or entity to purchase at least basic auto insurance coverage in order to operate certain vehicles on public roadways. In many cases, if you operate a vehicle that is not insured, you can have your license revoked and pay large penalties. Some of the more popular coverage options for auto insurance policies available are;
Collision- this type of coverage protects your vehicle from damages that result from a car accident with another vehicle or with other objects on the road. If your vehicle gets into a car accident, the insurance will pay for repairs or if the car is totaled will cover the damages for the car's worth.
Comprehensive- this type of coverage protects your vehicle from damages that are a result of things other than a collision. For instance, if your radio was stolen and the burglar broke your window and ruined your dashboard, the auto insurance will cover your losses or fix the damage.
Policies are usually for 6 months or a year and the rate that you pay for your premium is dependent on many variables including type of coverage, age, type of vehicle, location of residence and how you use your vehicle. There are many other variables that might be taken into consideration; however each insurance company has their own formula for calculating the cost of a policy.
About the Author
Connie Barker is the owner of several financial websites including those that deal with Auto Insurance
Tuesday, February 6, 2007
How to Remove Unauthorized Credit Inquiries From Your Credit Reports
How to Remove Unauthorized Credit Inquiries From Your Credit Reports
by Stephen Snyder
A credit inquiry is nothing more than a record of who pulled your credit reports and when. It's a federal requirement for the credit reporting agencies to keep a comprehensive record of these inquiries for 24 months.
Some inquiries lower your credit scores and some don't, so it's important to recognize the difference between the two.
Inquiries that Don't Lower Credit Scores
1. Inquiries in response to a court order
2. When you ask for a copy of your own credit reports from an authorized source
3. When you apply for a job
4. When you apply for homeowner's, auto, or renter's insurance
5. When an investor wants to buy a pool of loans from a lender
6. Account management inquiries
7. Request by the local child support enforcement agency if it's to assess what you should pay in child support
8. Utility inquiries (e.g., gas or electric)
9. Promotional inquiries
Inquiries that Lower Credit Scores
1. When you knowingly give permission to someone to review your credit
2. When you apply for a government or professional license
3. Someone has permissible purpose to review your credit
4. Request by the local child support enforcement agency if it's to collect child support
5. When a collection agency tries to collect a debt
How much can a credit inquiry lower your credit scores?
Now that you know which inquiries can lower your credit scores, wouldn't you like to know by how many points they can lower them?
Unfortunately, there's no one right answer to that question. If anything, there are at least 10 answers to that question.
You see, there are 10 different ways that Fair Isaac scores us. For example, your 80-year-old grandmother who has had credit for 60+ years will be scored very differently than your 18-year-old teenager. And someone with a prior bankruptcy will be scored differently than someone without one. Those are just two examples.
For bankrupt people, I've found through independent research that each inquiry can lower credit scores up to 12 points.
For non-bankrupt people the number of points could be the same, lower or even much higher, if you don't have much credit. It's extremely difficult to predict exactly how many points an inquiry will impact your scores unless you were on the team that created the FICO credit risk scoring model.
How long do credit inquiries stay on your credit reports?
Credit inquiries can remain on your credit reports for 24 months, but they only affect your credit scores for the first 12 months.
If there's an inquiry on your credit reports that you initiated, but it's older than 12 months, it no longer affects your credit scores, so it's harmless.
So far we've talked about authorized credit inquiries. But there are also unauthorized credit inquiries that appear on your credit reports.
What is an unauthorized credit inquiry?
An unauthorized credit inquiry is any inquiry on your credit report from a company or individual without permissible purpose that you didn't give permission to review your credit reports.
Unauthorized credit inquiries may lower your credit scores, so you should have a game plan to remove them.
Game Plan to Remove Unuthorized credit Inquiries
1. Write a letter to the lender and request they show you proof that you authorized them to review your credit
2. If they don't provide proof, request the lender send a letter to you stating the inquiry was made in error
3. Make it clear that if they do not provide proof of your authorization or give you the letter stating the inquiry was in error, that you will sue them for violating the FCRA
If you get a letter back from the lender that says the inquiries were made in error, all you need to do is make three copies of the letter and mail one to each credit reporting agency. Then you can sit back and allow the credit reporting agencies to do the voodoo that they do.
The credit reporting agencies will contact the lender to verify the letter's authenticity. After they're done verifying they'll remove the unauthorized inquiry and mail you a copy of his updated credit report.
If you follow these steps and 30 calendar days pass since the time you contacted the lender (and they haven't responded or provided proof)...it's time to have an attorney mail a more forceful letter on your behalf.
The failure to respond is called "willful noncompliance." My guess is that you'll hear from the lender quickly--especially if they are a reputable company. Sometimes it just takes the hint of legal action to light a fire under their rear ends.
If that doesn't work, then you should consider suing them in small claims court.
But to really have a strong case, I would suggest you know and can prove what your FICO scores were before the incident, and immediately after. With this information you should be able to prove damages easier.
For example, let's say that you were approved for a mortgage with 5% down and your middle score was 580. But after the unauthorized inquiry your middle score dropped to 568.
Now your mortgage company says the only way you can close on your mortgage is if you put 20% down. You would have a good argument to prove potential damages.
The credit reporting agencies can always recalculate an old score if they are ordered to do so by the courts. But it's best to give your attorney as many facts as possible to build your case ahead of time.
I'm not advising you to start arguing with your lenders about valid inquiries...only unauthorized inquiries that lower your credit scores.
Good luck!
About the Author
Stephen Snyder is the founder of the After Bankruptcy Foundation a non-profit organization that provides free bankruptcy information and recovery steps. Stephen also writes a free weekly newsletter on bankruptcy recovery.
by Stephen Snyder
A credit inquiry is nothing more than a record of who pulled your credit reports and when. It's a federal requirement for the credit reporting agencies to keep a comprehensive record of these inquiries for 24 months.
Some inquiries lower your credit scores and some don't, so it's important to recognize the difference between the two.
Inquiries that Don't Lower Credit Scores
1. Inquiries in response to a court order
2. When you ask for a copy of your own credit reports from an authorized source
3. When you apply for a job
4. When you apply for homeowner's, auto, or renter's insurance
5. When an investor wants to buy a pool of loans from a lender
6. Account management inquiries
7. Request by the local child support enforcement agency if it's to assess what you should pay in child support
8. Utility inquiries (e.g., gas or electric)
9. Promotional inquiries
Inquiries that Lower Credit Scores
1. When you knowingly give permission to someone to review your credit
2. When you apply for a government or professional license
3. Someone has permissible purpose to review your credit
4. Request by the local child support enforcement agency if it's to collect child support
5. When a collection agency tries to collect a debt
How much can a credit inquiry lower your credit scores?
Now that you know which inquiries can lower your credit scores, wouldn't you like to know by how many points they can lower them?
Unfortunately, there's no one right answer to that question. If anything, there are at least 10 answers to that question.
You see, there are 10 different ways that Fair Isaac scores us. For example, your 80-year-old grandmother who has had credit for 60+ years will be scored very differently than your 18-year-old teenager. And someone with a prior bankruptcy will be scored differently than someone without one. Those are just two examples.
For bankrupt people, I've found through independent research that each inquiry can lower credit scores up to 12 points.
For non-bankrupt people the number of points could be the same, lower or even much higher, if you don't have much credit. It's extremely difficult to predict exactly how many points an inquiry will impact your scores unless you were on the team that created the FICO credit risk scoring model.
How long do credit inquiries stay on your credit reports?
Credit inquiries can remain on your credit reports for 24 months, but they only affect your credit scores for the first 12 months.
If there's an inquiry on your credit reports that you initiated, but it's older than 12 months, it no longer affects your credit scores, so it's harmless.
So far we've talked about authorized credit inquiries. But there are also unauthorized credit inquiries that appear on your credit reports.
What is an unauthorized credit inquiry?
An unauthorized credit inquiry is any inquiry on your credit report from a company or individual without permissible purpose that you didn't give permission to review your credit reports.
Unauthorized credit inquiries may lower your credit scores, so you should have a game plan to remove them.
Game Plan to Remove Unuthorized credit Inquiries
1. Write a letter to the lender and request they show you proof that you authorized them to review your credit
2. If they don't provide proof, request the lender send a letter to you stating the inquiry was made in error
3. Make it clear that if they do not provide proof of your authorization or give you the letter stating the inquiry was in error, that you will sue them for violating the FCRA
If you get a letter back from the lender that says the inquiries were made in error, all you need to do is make three copies of the letter and mail one to each credit reporting agency. Then you can sit back and allow the credit reporting agencies to do the voodoo that they do.
The credit reporting agencies will contact the lender to verify the letter's authenticity. After they're done verifying they'll remove the unauthorized inquiry and mail you a copy of his updated credit report.
If you follow these steps and 30 calendar days pass since the time you contacted the lender (and they haven't responded or provided proof)...it's time to have an attorney mail a more forceful letter on your behalf.
The failure to respond is called "willful noncompliance." My guess is that you'll hear from the lender quickly--especially if they are a reputable company. Sometimes it just takes the hint of legal action to light a fire under their rear ends.
If that doesn't work, then you should consider suing them in small claims court.
But to really have a strong case, I would suggest you know and can prove what your FICO scores were before the incident, and immediately after. With this information you should be able to prove damages easier.
For example, let's say that you were approved for a mortgage with 5% down and your middle score was 580. But after the unauthorized inquiry your middle score dropped to 568.
Now your mortgage company says the only way you can close on your mortgage is if you put 20% down. You would have a good argument to prove potential damages.
The credit reporting agencies can always recalculate an old score if they are ordered to do so by the courts. But it's best to give your attorney as many facts as possible to build your case ahead of time.
I'm not advising you to start arguing with your lenders about valid inquiries...only unauthorized inquiries that lower your credit scores.
Good luck!
About the Author
Stephen Snyder is the founder of the After Bankruptcy Foundation a non-profit organization that provides free bankruptcy information and recovery steps. Stephen also writes a free weekly newsletter on bankruptcy recovery.
Car Insurance - how to reduce premiums
Car Insurance - how to reduce premiums
by David Hunter
One of the most popular transports in the world is a car. It is very convenient not to wait for the public transport on a bus station, but drive your own car at the most suitable time for you. It saves your time, because you can get to the point of destination in less time then if you used public transport. This and other factors are the reasons of the growing popularity of the private transport.
However, there are some downsides as well. Car ownership is always associated with different risks. You can become involved in an accident, or your car may break down or be damaged, saying nothing about the risk to be stolen. That's why car insurance is mandatory in many countries, particularly in UK, Continental Europe and Northern America. Car insurance eliminates the risk of the unexpected financial burden associated with the above mentioned factors and allows drivers to feel themselves more confident.
So, every driver needs an auto insurance policy, but the main point is that it's not always possible to get car insurance at the desirable price. And this is the very reason why many people hate to pay insurance premiums and would never do it, if they had a choice. In fact, a lot of car owners and drivers pay high insurance premiums just because they do not even know they could pay less. It can be surprising for many of us, but this is an incontestable fact. People buy insurance policies from the companies they have been dealing with for many years thinking they are offered the best possible price. They do not take into consideration the fact that insurance market is ever changing and new opportunities emerge occasionally. Insurance companies offer discounts from time to time and newly established companies enter the market every year. It makes sense to spend some time searching for a better deal and learning more about available options.
Amazing, but you can influence on the level of your insurance premiums. Car insurance costs depend on different factors and one of them is the type of vehicle you whish to insure. If your car belongs to a high-risk group of vehicles, then insurance company will most likely increase insurance premiums for you. Most insurers, if not every, have statistical data of most stolen car models. If you plan to acquire a new car and aren't willing to pay high insurance premiums, make sure you dream car isn't "black-listed" by insurance companies and if it is, may be you should consider buying a different model.
Your gender and age also impact on the insurance premiums. Females are considered as less risky drivers then men hence they pay fewer premiums. The same can be said about young drivers. They also belong to a high-risk group. So, if you are a 21-year-old male, forget about low insurance premiums till you 25th birthday.
Most insurance companies offer special discount to those who have a clear driving record. It's quite obvious that clear driving record proves you are a responsible driver hence less expensive for insurance companies, which allows them offer you a better deal.
Before you purchase or renew your auto insurance policy make a little research of the insurance market. Use the Internet for it. It takes a few hours to find and compare quotes of different insurance companies. You can also approach an insurance agency. They will do their best to find the quote that meets your requirements. They are professionals and are able to look for the necessary information almost instantly.
Sheilas' Wheels is a web site dedicated to women car insurance in UK.
About the Author
David Hunter is an author from California. He is a professional insurance agent and works in insurance business for many years. David plays golf and drives sports cars.
by David Hunter
One of the most popular transports in the world is a car. It is very convenient not to wait for the public transport on a bus station, but drive your own car at the most suitable time for you. It saves your time, because you can get to the point of destination in less time then if you used public transport. This and other factors are the reasons of the growing popularity of the private transport.
However, there are some downsides as well. Car ownership is always associated with different risks. You can become involved in an accident, or your car may break down or be damaged, saying nothing about the risk to be stolen. That's why car insurance is mandatory in many countries, particularly in UK, Continental Europe and Northern America. Car insurance eliminates the risk of the unexpected financial burden associated with the above mentioned factors and allows drivers to feel themselves more confident.
So, every driver needs an auto insurance policy, but the main point is that it's not always possible to get car insurance at the desirable price. And this is the very reason why many people hate to pay insurance premiums and would never do it, if they had a choice. In fact, a lot of car owners and drivers pay high insurance premiums just because they do not even know they could pay less. It can be surprising for many of us, but this is an incontestable fact. People buy insurance policies from the companies they have been dealing with for many years thinking they are offered the best possible price. They do not take into consideration the fact that insurance market is ever changing and new opportunities emerge occasionally. Insurance companies offer discounts from time to time and newly established companies enter the market every year. It makes sense to spend some time searching for a better deal and learning more about available options.
Amazing, but you can influence on the level of your insurance premiums. Car insurance costs depend on different factors and one of them is the type of vehicle you whish to insure. If your car belongs to a high-risk group of vehicles, then insurance company will most likely increase insurance premiums for you. Most insurers, if not every, have statistical data of most stolen car models. If you plan to acquire a new car and aren't willing to pay high insurance premiums, make sure you dream car isn't "black-listed" by insurance companies and if it is, may be you should consider buying a different model.
Your gender and age also impact on the insurance premiums. Females are considered as less risky drivers then men hence they pay fewer premiums. The same can be said about young drivers. They also belong to a high-risk group. So, if you are a 21-year-old male, forget about low insurance premiums till you 25th birthday.
Most insurance companies offer special discount to those who have a clear driving record. It's quite obvious that clear driving record proves you are a responsible driver hence less expensive for insurance companies, which allows them offer you a better deal.
Before you purchase or renew your auto insurance policy make a little research of the insurance market. Use the Internet for it. It takes a few hours to find and compare quotes of different insurance companies. You can also approach an insurance agency. They will do their best to find the quote that meets your requirements. They are professionals and are able to look for the necessary information almost instantly.
Sheilas' Wheels is a web site dedicated to women car insurance in UK.
About the Author
David Hunter is an author from California. He is a professional insurance agent and works in insurance business for many years. David plays golf and drives sports cars.
Thursday, February 1, 2007
How Do I Lower My Auto Insurance Rates?
How Do I Lower My Auto Insurance Rates?
by A. Chris
Since there are many factors that go into determining your auto insurance rates, there are many chances to lower your rates.
If you change jobs and your drive to work changes or you stop working or you work from home, you should contact your insurance company.
If you have a teen driver and they go to school over 100 miles away without a car then you should be able to get a discount.
If you get married and are in your teens or twenties call your insurance company and see about combining your policies.
Take defensive driving if your state allows it for a discount.
See if increasing your comprehsive and collision deductibles will save you a lot of money. You need to compare what you're saving and how much more you will have to pay if you file a claim. For example, if you go from $500 to a $1000 deductible and it lowers your insurance $50 per 6 months then it saves you $100 a year.
It will take you 5 years to break even from what you are saving compared to how much more you have to pay.
Now, if it saves you $250 every six months then it would be more worth your while.
See if combining your auto and home insurance polices will qualify for a multi policy discount with your current company. This could be a substantial discount.
One of the biggest ways you could save $200-$500 or more a year is shopping around for insurance. The auto insurance industry is very competitive and this is great news for smart consumers like yourself. Shop for auto insurance quotes here and see how much you can save.
for more tips go to Insurance Information
About the Author
A. Chris Tijerina has over 3 years of experience in the auto insurance industry and has seen many different people deal with auto insurance related problems. http://www.insurance-for-cars.com answers many of the questions facing drivers today.
by A. Chris
Since there are many factors that go into determining your auto insurance rates, there are many chances to lower your rates.
If you change jobs and your drive to work changes or you stop working or you work from home, you should contact your insurance company.
If you have a teen driver and they go to school over 100 miles away without a car then you should be able to get a discount.
If you get married and are in your teens or twenties call your insurance company and see about combining your policies.
Take defensive driving if your state allows it for a discount.
See if increasing your comprehsive and collision deductibles will save you a lot of money. You need to compare what you're saving and how much more you will have to pay if you file a claim. For example, if you go from $500 to a $1000 deductible and it lowers your insurance $50 per 6 months then it saves you $100 a year.
It will take you 5 years to break even from what you are saving compared to how much more you have to pay.
Now, if it saves you $250 every six months then it would be more worth your while.
See if combining your auto and home insurance polices will qualify for a multi policy discount with your current company. This could be a substantial discount.
One of the biggest ways you could save $200-$500 or more a year is shopping around for insurance. The auto insurance industry is very competitive and this is great news for smart consumers like yourself. Shop for auto insurance quotes here and see how much you can save.
for more tips go to Insurance Information
About the Author
A. Chris Tijerina has over 3 years of experience in the auto insurance industry and has seen many different people deal with auto insurance related problems. http://www.insurance-for-cars.com answers many of the questions facing drivers today.
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