Approximately 17% of drivers across the United States may be driving without insurance by 2010, these figures were compiled from a study by the Insurance Research Council. Although the estimated amount of uninsured drivers went down across the country from 14.9% in 2003 to 13.8% in 2007, this recession is expected to elevate the number of non-insured drivers.
A recently published study, “Uninsured Motorists, 2008 Edition,” suggests the amount of non-insured motorist across the country and by state from 2005 to 2007. The Insurance Research Council derives the non-insured driving population using a formula calculated between insurance claims made by people who were hurt by non-insured motorists to those made by people who were hurt by insured motorists.
The research tells recently obtained stats by state for bodily injury liability claims and non-insured drivers claim frequency and the ratio between bodily injury claims and non-insured drivers.
The severity of the non-insured driver problem changed greatly from state to state. In 2007, the biggest five non-insured motorist estimates by state were New Mexico 29%, Mississippi 28%, Alabama 26%, Oklahoma 24%, and Florida 23%. The five states with the smallest estimates of non-insured motorists were Massachusetts 1%, Maine 4&, North Dakota 5%, New York 5%, and Vermont 6%.
The publication also showed a large correlation unemployed and the percent of non-insured drivers. The research shows if you increase in the unemployment rate to 1% it will correlate to an increase in the non-insured driver rate to more than 3/4 of 1%. Based on the projected unemployment rate figures, the percentage of non-insured drivers is expected to increase from 13.8% in 2007 to 16.1% in 2010.
“An increase in the number of uninsured motorists is an unfortunate consequence of the economic downturn and illustrates how virtually everyone is affected by recent economic developments,” said the Senior Vice President of the Insurance Research Council Elizabeth A. Sprinkel. “Responsible drivers who purchase insurance end up paying for injuries caused by uninsured drivers.”
The Insurance Research Council research studied data obtained from nine insurance companies, representing approximately 50% of the private passenger automobile insurance market across the country.
With all this happening it will be hard to get discount auto insurance because as non-insured motorist claims increase the premiums for current insureds will also rise. Your best chance to get inexpensive auto insurance is to try to get as many free insurance quotes as possible and compare prices between companies.
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There are many parents who would love to give their teenagers a mobile phone that could not be used while driving. Now some companies say they have come up with a devise to make that possible, but they appear to be relying on hopeful thinking.
One product to land on the shelves, is $10-a-month software by WQN Inc. based out of Dallas, it can disable a cell phone while its owner is driving. It uses GPS technology, which can determine the speed a person is moving. But it can not determine if the person is driving — and therefore it can unwantingly lock a phone. WQN, who offers cellular phones and Internet security software for sale under the name WebSafety, says it had about 50 customers sign up for service during there first month.
Aegis Mobility, a software company based in Canada, plans to begin selling a similar Global Positioning System-based devise this autumn, known as DriveAssistT. Aegis is speaking to big U.S. wireless telephone organizations, who they need to support the software and charge customers a fee of around $10 to $20 monthly, said the company’s vice president, David Teater.
The DriveAssistT system will cut off a mobile phone at driving speeds and relay a message to callers or texters saying the cell phone they are trying to get in touch with is currently driving. But because that individual could be a passenger in the vehicle, this might not exactly solve the problem.
Other ideas or products that do not involve GPS systems have flaws of their own. As a result, Parry Aftab, adviser to families on technology and safety, suggests concerned parents should figure out another way to stop their teenagers from calling or texting while driving. Parents would be better off taking away a teenagers mobile telephone if they aren’t using it properly, she said. discount auto insurance may be possible in the future if a devise is made to stop cell phone use while driving.
Growing concerns around driving while gabbing or texting on a cellular phone in mounting, even if using Bluetooth technology, is very dangerous. The National Safety Council said just this month that cell phone use should be totally banned while driving. The stats show a higher risk of accidents and deaths one driving will using a phone and one of the best ways to get inexpensive auto insurance is to have a clean record.
Currently there are at least 18 states restricting mobile phone use — texting or speaking— for some or all drivers, according to the Insurance Institute for Highway Safety. Even with these laws in place it hardly prevents motorists especially young drivers from using their cell phones while driving.
It’s crucial for parents to ask themselves whether they want to prohibit their kid’s activities in this way. Your child might not be driving, but instead sitting on a train, bus or be a passenger in a buddy’s vehicle.
Smart children will always discover a way to get around technology, it’s human nature to try to defeat the system. Instead, try to educate your children about the dangers of combining phones with driving.
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Every parent wants to send their child off school with a good, healthy lunch. Mine did. However, many parents mistake a good lunch as one filled with attractively-packaged, sugary, expensive items. This should not be the case. Packing a brown bag lunch will be less expensive than having your child buy lunch. Also, on top of earning money by making lunches this article explains, through personal experience, how to save even more money by watching what you put into those lunches.
My typical lunch growing up was a PB&J sandwich, a bag of chips, some variation of fruit (applesauce, fresh fruit, or yogurt), and two cookies. I had this lunch, with a few changes once in a while, every day at school… for twelve years. It’s not a huge lunch but I survived, my parents saved money, and you and your kids can too.
So, you’re probably asking, “Well then, what should I put into my child’s lunch?” The answer begins at the grocery store. Divide the lunch into four categories- a main item (sandwich or leftover pizza), a side (chips, crackers), a fruit/veggie or variation (apple, banana, applesauce), and a small dessert (cookies). This will ensure that the lunch has enough to fill its owner and give him or her the necessary nutrients to succeed in school. To start saving money you need to follow these easy steps:
1. Avoid expensive, unnecessary items (i.e. juice boxes, soda, fruit roll-ups, and other sugary packaged foods)
1. Drinks. Kids do not need juice boxes or sodas in their lunch. Every school and business place has some sort of a drinking fountain or water dispenser. Water is the best drink for you and best of all, it’s free! I never had in 12 years of school any kind of drink in my lunch. It saved my parents tons of money and forced me to be healthier.
2. Treats. Avoid those unnecessary treats like fruit roll-ups or ding dongs. These items are full of sugar, are not filling, can cause obesity, and are very expensive. Eliminate these from your shopping list. I still believe something sweet is a good way to end a meal so instead replace the expensive items with cheap store brand cookies. They come in large packs, are cheap, and taste very close to the brand name. This way, you can stick two little cookies in a baggie and still have a treat in your lunch (except this way it will be a lot cheaper). By the way, if you are worried about the store brand thing, it’s a cookie! It can’t taste that much worse than a brand name cookie.
2. Buy your items in bulk
1. Sandwiches. If you’re going to be buying sandwich items such as peanut butter or lunch meat, buy the biggest package possible for the best price. You’re going to be using it every day and that means it probably will not be going to waste. Buying a small jar of peanut butter every week or two will end up costing a whole lot more over the course of a year than if you bought a big jar that lasted a month or two.
2. Side Items. Buy the big boxes of chips or Costco-sized packages of individual applesauce. Smaller packages are going to cost much more than buying the big box or bag. It might cost a little more up front but will save lots of money in the end.
3. Be Smart.
1. Buy the cheapest bread. Your kids will not know a difference.
2. Shop Around. Invest some time viewing the ads that come in your local newspaper before going to the grocery store. Clip some coupons and be sure you are buying at the cheapest price. A box of chips might be on sale for three bucks at one store and regularly-priced at five at another. It might take a little more time but you’ll know it is worth it when you start to see the money you save.
3. Store brands. Stick to the store brands (unless it is in fact horrible, but in most cases, they won’t be).
4. Lay down the law. If your kids are with you in the store, tell them that if they ask for it, they won’t get it.
Once you have your groceries, it is time to pack the lunch.
1. Have the kids make their own lunch. They will appreciate the lunch much more once lunchtime rolls around. It will give them a sense of accomplishment and force them not to take you for granted. I’ve made my own lunch since the second grade so do not think your child can not.
2. Set limits. Set a limit for what each person can bring each day. If you decide to buy cookies, make sure to let everyone know that two is the maximum per day, etc.
Note: If your children are used to much bigger lunches full of sugary treats, they might be upset at first. Do not give in. Remember, you are saving money and helping to ensure your child does not become obese.
Follow the steps mentioned above and I guarantee you will save plenty of money. For more tips on how to save money visit BeatTheEconomy2009.com
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The best time to try and new insurance is typically the same time you purchase a new car but guess what? You can purchase new car insurance anytime you want, new auto or not. inexpensive car insurance really is out there but it’s up to you to locate it. The simple truth is most individuals pay too much for their vehicle insurance because, well, they just don’t know that there are better rates out there. Do you want to find inexpensive automobile insurance? Keep reading!
One thing you should understand right off the bat is that a car insurance company isn’t going to give you a ring and offer you a better deal. Even if you deserve a better rate an insurance company won’t inform you because they are just fine with you spending more then you have to. The secret is discovering an insurance company that offers inexpensive automobile insurance and all the extras that normally come along with the more pricey plans. Let’s take a closer look on how to locate these more cost effective plans:
Shop around! By shopping around you will be able to find the best deals. You can’t just stick with your old car insurance company and expect them to lower your premiums; you have to actively look for lower rates in order to get them. The best place to start is online. With the Internet taking over a lot of the commerce market (e-commerce) it is simple to purchase anything- car insurance included. Just look at all the advertisements that pop up as soon as you Google ‘free insurance quotes’. There will be plenty of selections to choose from!
Short on time? Good news, you don’t need a lot of time! Most insurance companies try to make life as easy for consumers as possible and they know if getting inexpensive car insurance takes hours most consumers aren’t going to be very happy.
QuoteMatcher.com is one of the leading vehicle insurance websites because they absolutely give consumers the best deal quickly! Searching for the best deal on the QuoteMatcher’s website is incredibly easy; you need only to fill out a few pages of personal info, which should only take about 6 minutes. The best part is local agents and large national companies both offer auto insurance quotes for free. Then you can compare all the rates and pick the best coverages and price for you!
Don’t forget, look for perks! There are certain extras that you may not want to give up just because you are getting a better price. Some of these extras can include: accident forgiveness, road side coverage and other protections.
Inexpensive auto insurance is not impossible to find, you just have to know where to look to find it.
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With the mortgage interest rates currently dropping as they have done over recent months due to the credit crunch, there’s likely to be a lower rate available than the one you are currently on. Should you be rushing out to a local mortgage broker to see if there are lower mortgage rates on the mortgage market for you?
Maybe, maybe not. It’s not always that simple and that’s the reason that whether you are looking at mortgages online or by visiting banks, you should always seek advice from a mortgage advisor. Don’t just swap mortgage rates because your new lender tells you they have a better mortgagedeal for you. Don’t just go out and find a lower interest rate on the internet comparison tables and apply for it, thinking all will be well.
Why might it not be a good idea in all cases? Well, one of the first fact finding questions a mortgage broker will ask you may be about any tie-ins you have with your current mortgage product. If you move your mortgage now, will you have to pay any financial penalties to your current lender? These could be quite significant. If the penalty is to pay the equivalent of a few months’ interest just to get out of an existing mortgage deal, then it might require you to reduce your monthly repayments a lot in order to recover the extra expense, and this might not be possible in the long term.
Assuming that your current mortgage has ended its comfy initial introductory period and you are now on the standard variable rate, without any remaining tie-ins, then there are still plenty of warning flags that might make it harder or financially uncomfortable for you to remortgage. These, along with any other relevant warnings that need to be looked at, should be discussed and worked through with along with other help and advice from your mortgage broker.
For example, do you still count as the same level of credit risk as when you took out the mortgage to begin with, or have you missed any repayments? Has the value of your property fallen, maybe meaning that your borrowing will be an even larger proportion of the house price? These might mean that banks won’t be as happy to consider your application and offer you a mortgage, or at least not as good an offer. You could be shoved onto a more expensive product.
And even placing these aside, there are arrangement fees, completion fees, other legal fees and maybe survey fees on your own property. All of these charges have to be paid for. Pay for them up front, and then you have to work out what the long term impact is effectively and decide if the saving in the offer period outweighs the costs involved . Add them to your mortgage and you end up paying more each month.
Either way, reducing your monthly mortgagerepayments isn’t just about finding lower mortgage rates. You have to take into account all of the associated costs and impacts and total up the fees and charges over the next few years if moving mortgage will actually save you any cash. Ask a mortgage broker to give you a written model, comparing your current position to your proposed mortgage position.
Currently in the financial news a lot of recent times are the tracker rate mortgages. The theory goes with these tracker mortgages that they will always exactly follow, or track, the Central Bank’s announced base rate. Every time it announces increases or decreases, the tracker rate mortgage is expected to move in exactly the same way at the same time. Usually you agree with your lender what the rate difference will be between the base rate and the interest rate you are being charged.
So why are these popular and could we be expecting to see more people taking them out when they remortgage, or are they a risk? They are popular for those home owners that are willing to gamble on interest rate changes and are more happy to see their mortgage interest rate change and benefit from lowering rates, rather than having the security of knowing what future mortgage repayments will be. They are suitable for those wanting to gamble that interest rates will go down overall in the future and if they go up, they can afford to make the loan repayments. Maybe they have other investments that if interest rates go up will be earning them more income, so the net result isn’t an issue.
This type of mortgage does come with a huge risk. If the central banks suddenly decide that the best way out of the current problematic financial situation is to hike the base rates, then mortgage holders with tracker mortgages are going to find payments shooting up.
At the moment there doesn’t seem too much of an attraction or benefit for new home buyers to take out tracker rate mortgages. With base rates already breaking the historic low, they can’t really be expected to fall much further. Yes, there is still some room to fall, but not much. If a tracker is for a few years, then there’s a good chance that interest rates could rise above current levels in that time. And with interest rates being currently so low at the moment, lenders have bumped up the interest increment between the base rates and the interest rates that they are charging. Thus, when the base rate eventually recovers, be it in the next year or in a couple of years, there is a risk that tracker rate mortgages could be becoming very expensive.
There is also the issue that some lenders have placed a lower limit on how far tracker mortgages will follow the base rate and in some cases, the base rate has already fallen below this enforced limit. Therefore, the restriction has been triggered and the interest rates are not following. Financial authorities are not thought to be happy with this and are looking into whether it is legitimate or should be stopped. Time will tell.
If you think that interest rates could drop even further and are happy that if they rise you will immediately be paying more, then tracker rate mortgages might be the mortgages for you. Check with a mortgage broker that you have fully understood the associated risks.
As the Recession continues to worsen, and gas prices continue to increase again one can not help but reflect on all the other necessities in our lives that will be impacted. Many of us have to drive to and from work, and considering what gas prices cost these days, only wish we could car-pool or take public transportation.
So the question arises, since I reside in a State that makes auto insurance mandatory, how can I discover the most Inexpensive Auto Insurance? How can I determine I get coverage that meets my needs when there are so many to choose from?
First thing it is important to know the lowest coverage accepted by Law for the state you live in. Colorado requires liability Coverage for each individual driver like most other states, the lowest amount of coverage allowed is $25,000 for each person. The maximum payout for all injured parties would be $50,000 liability for a single accident. The total property damage liability for a single accident is $15,000. What this means is that you must purchase a bare minimum $25,000 per person for injuries caused to another person, up to $50,000 for all individuals injured in the accident you caused and $15,000 for damage you caused to the other individuals property.
Again these are the minimum coverage allowed by Colorado State Law. When considering Auto Insurance you should think about getting higher levels of coverage if you have assets to protect. In addition to considering the coverage of your assets, optional coverage such as medical payments, collision, comprehensive and underinsured-uninsured motorist bodily injury coverage may be a safer way to go.
The driving force for how Colorado Automobile Insurance premiums are factored is based upon state driving records as a whole. What happens is that all the insurance companies take the cost of providing coverage for all state drivers (including claims and legal fees) and divide it up among all the drivers in the state. While all the costs should be distributed evenly, that is not the case.
The amount paid by you as an individual driver is established by the following:
• Your driving record
• Your age
• Your logistics
• Type of car you own
Let’s face it, if you are under 25 it does not make a difference what state you reside in, it is going to cost more when checking Car Insurance Quotes. You could be driving a Pinto, a Viper or a Mustang GT your age works against you. Black cars and red automobiles cost more to insurance than grey or blue. A sports utility vehicle costs more to insure because they are more likelt to be stolen. The concept of installing GPS tracking chips to deter car theft is beginning to become more common. It would be foolish to the extreme to steal a automobile that can be tracked in a matter of minutes, wouldn’t it? Security systems also lower your car insurance premiums. Often you may find during the questionnaire you will be asked whether you will be driving your vehicle for pleasure or work and on average how many miles you will drive. All of these factors determine what your insurance premium will be. Obviously the more you drive, you increase your chance of having a motor vehicle accident. So do yourself a favor: protect both your assets and your money by comparison shopping before selecting vehicle insurance.
As we are seeing base lending rates tumbling to an all time low, now is an excellent time to be looking for a new mortgage product in the hope of saving some monthly expenses, and hopefully a lot of money over the long term. But if you are beginning to compare all mortgage rates, what exactly are all of these different types of mortgages available on the market?
To start off with, for about a third of mortgage holders, the fixed rate mortgage is the favoured type of product. With this type of mortgage you have agreed with your chosen bank that for a certain length of time you will be charged a fixed . The fixed term duration might be a few months up to a few years, it depends on the offers available on the market. How low the interest rate is will depend on how long you are signing up to it. The briefer the time period, the more reduced the risk there is to the lender that the rates could increase in that time period, so normally the interest rate offered is usually better. It is this fixed aspect of the mortgage that many home owners do want. For the agreed time you know precisely what will be spending on your mortgage. There will be no interest rate rises to upset your budget. You know that unless you move your mortgage, precisely what you will be paying.
But this is not solely seen as an advantage, it is also seen as a disadvantage. If base rates do fall further, as has been in the news a lot currently, then the amount that you are paying doesn’t benefit. And this is the risk of this type of mortgage. You know exactly what you will be repaying, regardless of whether interest rates increase or decrease.
After your fixed rate mortgage is over, you can possibly then have a tie in period with the lender during which you have to stay with the bank on their variable rate mortgage. This is the return for the lender when they have given you a very good fixed rate mortgage. A variable rate mortgage is the basic mortgage that a lender will offer. It is their basic no frills mortgage and moves with the base rate, although not always moving with the base rate exactly.
Usually mortgage brokers will advise that all customers on the bank’s variable rate mortgages should look at their mortgage and consider moving to another mortgage, or bank. It is usually not discounted in any way and is at risk of increasing with every rate change. Some time this type of mortgage is seen as the bank’s way of making money. They are typically no frills, no reductions and a sign that you should be reviewing your mortgage. If this is what you have currently got, then it is well high time that you decided to compare today’s mortgage rates and find yourself a new mortgage.
Now that we have the base lending rate at a record low, is it time to be looking fixed rate mortgages? You can be forgiven for thinking that because rates are about as low as they are ever likely to be, then now is time to get a fixed mortgage deal. But be wary of remortgaging and take professional advice before you try to compare best mortgage rates on your own!
Yes, the bank’s lending rate is lower than ever before, but at the time of writing, the banks are yet to announce if they will reduce their costs of borrowing. If they do, that will be the variable rates that will come down – the rate they charge to customers that are not on special deals. This will also follow onto capped rates and discounted mortgages.
But the banks are not soft. They know that with base rates at a record low, rates are more than likely to increase in the future – especially over the period of a 25-year mortgage. They will be deciding whether they think the central banks will keep the low levels for a few months, drop them further or start to put them back up later this year.
If the banks think there is any chance of interest rate rises in the next 12 months, then they are not going to tie their own hands by offering low rate fixed mortgages for 2, 3 or even 5 years. Instead, they will offer good looking fixed rates that go back to the variable rate at the end of 2009 possibly for a long tie in period. Or they will add a an increment onto the rate and let it run into 2010.
So who out of the many mortgage payers are probably benefiting at the moment from the low base rate? Well the 30% on fixed rates probably are not – their fixed rates have stayed put. Variable rates, also taking in discounted and capped rates, might have benefited, but with reports that only 19 of the 90 lenders passed on December’s cut in full, there’s a good certainty that those on variable rates aren’t benefiting either.
The borrowers seeing reductions at the moment is supposed to be those on tracker mortgages, but even some of these have protection for the lender built into them, meaing that if the central bank’s base rate is reduced below a given level they don’t have to keep tracking it, whilst other lenders have increased the amount above the base rate their new tracker mortgages follow.
Are trackers the way forward and you should try to compare mortgage rates for these? Well with capped floors and an widening gulf between base rate and rate charged, plus the chance interest rates will climb over the next few of years, it is anyone’s guess what is best. It all relies on your financial situation and outlook. Are you wanting to take the chance of a low rate with trackers, but able to pay if they do go up? Do you need to budget carefully with a fixed rate mortgage so that you can budget what you will be paying? You must speak to a financial advisor who can help you.
Many elements effect the amount you will pay for car insurance. Each is a statistically based risk for a specific population. The higher the risk associated with a person, the more he or she is likely to spend on for auto insurance. We have elaborated on some of the risk factors below, but there are many others, including driver’s gender, miles driven annually, purpose for using the vehicle, etc. By understanding these risks you may be able to change some of them to secure Inexpensive Car Insurance for yourself.
Elements you CAN’T simply alter that affect your car insurance premium:
Age
Statistically, drivers under the age of 25 are at a higher chance of being in an accident than those older than 25. Drivers between the ages of 50 and 65 largely have the safest records.
Gender
Women are statistically better drivers.
Marital Status
If you are married you will pay less than a single person with an identical driving record.
Factors you CAN alter that impact your Car Insurance Quotes.
Geography
Where you live makes a difference. Folks that live in areas with little or no traffic are likely to people filled cities or suburbs because locations with a lot of traffic seem to have more accidents. Some areas also have a enhanced rate of vehicle thefts, which can result in a higher insurance rate.
Driving Violations
If you have gotten into an accident or have moving violations on your record (speeding tickets, DWI, reckless driving, etc.) it puts you at a rates. Some insurance companies will penalize you for each incident on your driving record for as many as three to five years from when the incident was registered. However, keep in mind, as your record improves, your premium will get lower.
Car Type
A junker car will cost less to insure than that status symbol SUV sitting on 24″ rims.
Credit Rating
Many insurance companies think having a low, or even no credit history as a higher risk and thus, charge you more.
Occupation
Insurers have statistically found a correlation between your occupation and risk. For instance, a race car driver is most likely a higher risk than an office clerk sitting at their desk all day.
Other factors that help determine rates:
. Driving distance to work
. Miles driven each year
. Years of driving experience
. Pleasure or business use of the vehicle
. Currently insured or not
. Theft protection devices (often results in discounts)
. Multiple automobiles and/or driver discounts
What can I do right now to secure inexpensive auto insurance?
Shop around and compare rates from multiple insurers. They base their individual premiums on their claims experiences, advertising costs and other operating expenses. One insurance company might see your area as a higher risk than others. Another may charge more because of your occupation. Shopping at http://www.QuoteMatcher.com/Insurance makes it simple because you can quickly compare multiple rates for your particular situation.
Where do I go for quotes?
One place can take care of it all. Go to www.QuoteMatcher.com/Insurance where you can get multiple quotes, pick the best price, and then purchase directly from the insurance company. It REALLY is the easiest way to purchase car insurance. There is also no obligation to buy but you may want to if you can save some money.
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