10 Most Expensive Cars to Insure

Are you driving one of these most expensive cars to insure?

1 Lexus IS 300
2 Land Rover Discovery Series II
3 Audi S4
4 Jaguar X-Type
5 Mercedes SLK Class
6 Lexus GS 430
7 Land Rover Freelander
8 Mitsubishi Montero
9 BMW X5
10 Toyota 4Runner 

Among the factors that determine how much you pay for car insurance, such as gender, age, driving record, one of the most important is the type of car you drive.

Common-sense holds that the more expensive the vehicle, the more expensive the car insurance. While that's true in part it's not the whole story. Insurance rates differ greatly between makes and models. If a car performs well in crash tests, is not frequently stolen, and has additional safety or anti-theft devices, it will cost less to insure. On the other hand, if your car is high performance, easily stolen or ranks poorly in crash testing, it will cost more to insure.

If you drive a high performance vehicle, insurance companies assume that you will use that power and practice riskier driving. This assumption is statistically validated. And should you get into an accident, regardless of fault, the cost of returning your vehicle to its original condition can be high, even for a fender bender.

SUVs and other large vehicles may be safer than compact cars in accidents but they tend to inflict more damage which leads to larger liability claims. Some SUVs also have inherent design flaws which raise safety issues, specifically with rollover tests. Accordingly, insurance companies share these additional financial risks with the driver in the form of higher premiums.

But cars that are known as "family cars" tend to have lower insurance premiums. These cars include minivans, family sedans, and station wagons. They combine a higher safety rating with a better value. And cars that are used primarily to transport a family are generally involved in fewer accidents, due to safer driving habits associated with those who transport family members.

So, which cars are least expensive to insure?

1 Oldsmobile Silhouette
2 Pontiac Montana
3 Saturn L Series Sedan
4 Chrysler PT Cruiser
5 Saturn L Series Wagon
6 Chevrolet Venture
7 Chevrolet Astro
8 Saturn Vue
9 Jeep Wrangler
10 Oldsmobile Bravada 

Whether you're driving a Lexus or an Olds Silhouette, we may be able to save you money. In St. Louis, call Larry Nolte at 314 881-1940 for competitive quotes. Or use our online rating system, it's there for you 24/7.

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5 Easy Tips for Lower Car Insurance

1. Consider a Higher Deductible: Insurance is all about sharing risk. When you accept a higher deductible you accept a higher risk and your cost will decrease.Try quoting your current insurance with a higher deductible on your collision coverage. You may save 100 dollars or more by raising you deductible from 500 to 1000 dollars.

2. Pay in Full: Many companies give discounts up to 10% for paying the premium in full. If it's affordable consider making a full payment, avoiding billing fees and getting a good discount.

3. Use Electronic Funds Transfer: If you are paying monthly, consider setting the billing up for automatic withdrawal or EFT. By using this option you can save as much as 6 dollars per bill that's a savings of $72 per year. It's easy and very secure, your payments will be automatically deducted from your saving or checking account.

4. Shop Ahead of the Effective Date: Most companies will give you a discount if you get your car insurance quote more than 7 days prior to the policy start date. Why? Because planning ahead makes you a better risk. So don't wait until the last minute to shop: Get your quotes at least eight days ahead, even if you don't actually buy until the last day.

5. Get Multiple Quotes: This alone can be your biggest money saver. Each insurance company has an individual rating system and will each rate your situation differently. In St. Louis, Crawford-Butz represents many top of the line Insurance companies like Safeco, Progressive, Travelers, Electric, Hartford and more. Call Larry Nolte at 314 881-1940 for competitive quotes from all our carriers. Or use our online rating system, it's there for you 24/7.

Get Quotes Now

Insurance Claim of the Week

Defying both logic and gravity...

Got iPhone?

For you iPhone users, here's a handy app you'll hope you never have to use. iWrecked is the original auto accident assistant on the app store. It's a full featured, accident resource for easily logging all details and info after being involved in a wreck. Take photos of the damage and accident scene with your iPhone.

Features include:

• Create a detailed accident log and history
  
• Take unlimited photos with the camera or import from photo library


• Preview Accident Report with images in PDF format


• Find nearby taxi and/or towing companies to assist you


• Call emergency numbers (911) with the press of a button


• Vehicle Information log (unlimited vehicles and images supported)


• Call buttons to make direct calls (like insurance company, other driver and more)

iWrecked can also generate a detailed, professional-looking PDF accident report with images, which you can send directly from the app to your insurance company.

Sure, you hope you'll never need it, but like good insurance coverage, you'll be glad it's there if you ever do. And did I mention it's FREE?

Get it here: http://appshopper.com/utilities/iwrecked

Or from itunes here: http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=292995923&mt=8

Online Quoting Without the Hassle

It's here! Online comparative quoting in real time. This is not the kind of online rater that will have twenty-five agents calling you at all hours of the day or night. Rather, this offers the kind of personalized attention you deserve, online. Here's the link:

https://nolte-crawfordbutz.agentinsure.com

Keep in mind that this tool will give you a snapshot of what values in coverage are available but it is only that. Every insured's situation is unique. The results need to be carefully tweaked to be sure you are getting all the coverage you need for the absolute best price. That's my job.

Give it a try! [Missouri and Illinois residents only please]

Understanding Your Auto Liability Coverage

Liability is the most fundamental form of coverage provided by your automobile insurance policy. Understanding the way liability insurance works will help you decide how much coverage you need.

Legally Liable:
Auto insurance will typically include liability coverage for both bodily injury and property damage for which you, the policyholder, are found legally liable. In other words, liability protection is your first line of defense which pays for injuries and damage sustained by another driver or passenger in an auto accident for which you are responsible.

BI - Bodily Injury:
If you cause an accident and someone is injured, your automobile liability coverage will pay for their injuries, but only up the stated limits. Policies with split limits of liability provide separate limits of insurance coverage for each injured person and the amount of coverage available for a single accident. Limits are the maximum your insurance company will pay under terms of your policy. For example, an insurance policy with split limits of 100/300/100 means $100,000 is the maximum amount payable for the bodily injury of any single person; $300,000 is the maximum payable per accident (the third number is the property damage limit).

Other insurance policies may have a combined single limit ($300,000 for example). Combined single-limit policies offer a single amount which is the maximum amount payable for the total cost of bodily injury and property damage.

PD - Property Damage:
If you at fault in an accident and someone else's property is damaged, your auto insurance liability coverage will pay for the damage up to the stated limits. Damaged property often involves the other driver's vehicle. However, property damage insurance coverage will also pay for damage to other types of property, such as a mailboxes, a telephone pole or a house.

In insurance policies with split limits (100/300/100), the third number indicates the maximum amount payable by the policy for property damage per accident. In the example, your policy would provide $100,000 worth of coverage. Combined single-limit policies offer a single amount that is the maximum amount payable by the insurance policy for bodily injury and property damage.

State Minimums
Some states, like Missouri, require drivers to carry a minimum amount of liability insurance for property damage. Proof of compliance with the state minimum may need to be shown at licensing or in case of a traffic stop or accident. The philosophy is that each driver must be prepared to shoulder the responsibility for any damages to persons or property caused by his or her actions behind the wheel. In Missouri these legal minimum limits are 25/50/25, but is this enough coverage?

Just as it is difficult to predict when, where or why an accident may take place it is also difficult to tell what the dollar amount of liability you, the driver, may be required to cover in an at-fault accident. Higher medical costs and legal settlement limits point to the inadequacy of the state's requirements. In the event of a tragic accident involving loss of life or limb the cost assessed to an at fault driver is certain to exceed $25,000. When your insurance company pays out the full limit as specified in your policy, you the driver will be responsible for any excess costs and a court may seize any present and future assets to satisfy the debt. For this reason higher limits of liability insurance coverage are always recommended.

Does Lower Liability Save You Money?
In an effort to lower their monthly premium some insured buy the lowest liability limits available or required by law. While this strategy will lower premium, often the savings are small and they are always dwarfed by the risk involved. A better strategy may be to raise the deductible on your comp an collision coverage. Why? Because the risk is relatively less. The difference between a $250 and $500 deductible involves and extra risk of only $250 out of pocket. In liability terms, the risk between 25/50/25 and 50/100/50 limits is a risk of between $25,000 and $50,000 out of pocket. And often the added premium of higher liability limits can be offset completely by raising your deductible on comp and collision.

If you are unsure about your current liability limits, check your policy or call your agent. To learn how some simple adjustments in your coverage may protect you better for little or no extra cost contact Crawford-Butz for a free proposal. Just call 314 752-2500 and ask for Larry. I'm ready to help.

Got Stuff? Make an Inventory with this Free Software

Along with securing the value of your home against loss, homeowners insurance also covers your personal property. After a substantial loss an insurance adjuster will attempt to set a dollar amount on the loss of your property. Often this is based on best estimate values which fall within the norm. But you can be your own best advocate if you have planned ahead. The most important tool you can have is an inventory of your personal and household items.

Having an inventory will help you be sure you have enough insurance to replace the things you own, get your claims settled faster and more equitably, and substantiate losses for your income tax return.

Writing an inventory can be a simple as listing items in detail on a pad of paper. Better documentation may involve photographs, receipts or appraisals, especially for big ticket items as jewelry or valuable collections.

I've recently found a great new tool to help you in the inventory process and it is available for FREE! It is software developed by the Insurance Information Institute, a trade organization dedicated to educating consumers about insurance. The software will help you work through your house, step by step, one room at a time. Simply add items to each room as you move through your house. It also supports attaching digital photos and receipts. Once you are finished you can print a report and keep the inventory backed up securely online or at an off-site location. And it's easy to update after any major purchase.

You can download this free tool at http://www.knowyourstuff.org/. Hint: the website will ask for your email, but it is not necessary to enter one to download the software.

Remember, the best time to catalog your possessions is before a loss! Use this tool to get it done easy.

At Crawford-Butz we are dedicated to providing excellent coverage along with excellent service. If you are in the market for insurance in the greater St. Louis area, or anywhere in Missouri or Illinois, let me prepare a competitive "apples to apples" quote for you to find the best market. Just call 314 752-2500 and ask for Larry. I'm ready to help.

"Why did my car insurance premium increase?"

Like many other expenses, auto insurance rates are subject to periodic increases but these should be moderate and reasonable. If your insurance takes an unexpected bump, something else may be going on. The causes for an increase in your premium are multiple but may be broken down into these main areas:

There was a change in your coverage during the previous term. This could include:

• Adding another driver. If you have added an additional driver in your household, particularly a teenager, you have extended the risk which the insurer is covering, even with the same number of vehicles.
• Adding a vehicle or replacing a current vehicle with another model may lead to an increase. Simply adding an additional vehicle can increase the covered risk, even if the car doesn't carry full coverage. In the same way exchanging a car for a newer or more expensive model will lead to a higher premium.
• Increasing your liability cover limits, while providing extended coverage should you be responsible for a loss, will increase the cost of your insurance. In the same way, lowering your deductibles which shifts risk from you to the company also pushes up the cost.

Other changes such as changing the usage from "pleasure" to "commute/commercial" or increasing the number of miles driven per year, may be factors.

There was a change in your personal profile. This would include changes in behavior or status such as:

• You are at fault in an accident. These are typically reported to your insurer even if there is no violation.
• You have a collision or comp loss over a certain threshold. While often "forgivable" the amount of the loss does matter.
• You committed a moving violation and were ticketed or sentenced in court. Many insurance companies will overlook the first offence but a second will lead to a higher rate, even if the first was as long as five years ago.
• If you were ticketed for driving while intoxicated, even if a lawyer has arranged to plead down to a lesser charge.
• Even if you have had no driving incident there could be a rating change as a result of violations, suspensions or accidents by another driver on your policy.
• If you have had a change in address the zip code where your car is now garaged may be considered a higher risk, even if your neighborhood is safe.
• A change in status from "married" to "divorced" may cause your rate to rise from losing a marriage discount.
• A downward fluctuation in your credit rating may force you into another rating tier.

If none of these personal situations apply, a rate increase may be due entirely to a new rating structure on the part of your current insurer. Insurance companies all try to balance the need to maintain a healthy balance sheet with the desire to retain their customers. Increased company losses due to catastrophic events, high accident rates and/or repair costs for your defined area [such as St. Louis] and general economic conditions can all contribute to a company raising their current rates for auto insurance.

You have options. You may want to make adjustments in your coverage which will save you money on your premium. Or you may want to "shop it around" to be sure you are not over-paying. At Crawford-Butz we represent companies dedicated to providing excellent coverage at an excellent value. Let us prepare competitive "apples to apples" quotes for you to find the best market for you. Just call 314 752-2500 and ask for Larry. I'm ready to help.