Category: AUTO INSURANCE

CSA Scores and Their Impact on Carrier Insurance Costs?

CSA Scores and Their Impact on Carrier Insurance Costs?

The Federal Motor Carrier Safety Administration (FMCSA) established the Compliance, Safety, Accountability project in 2010. (CSA). This program was established for preventing crashes, injuries, and fatalities related to any commercial vehicles that operate in the US. Making the roads safer for both drivers and passengers is the objective of this program.

CSA can also affect the insurance cost of carriers. Let’s learn more about CSA and this can affect the carrier insurance cost.

What are the Components of the CSA?

There are three main components of the CSA. They are as follows:

  1. Intervention
  2. The Safety Measurement System (SMS)
  3. A Safety Fitness Determination (SFD) rating system

Factors that Contribute to a CSA Score

CSA scores are determined by several factors. These factors come under the 7 Behavior Analysis and Safety Improvement Categories (BASICs) that are part of the FMCSA’s program. The BASICS include:

  • Unsafe driving- Speeding, not wearing a seatbelt, or inappropriate lane change are all examples of unsafe commercial vehicle operation.
  • Hours of Service (HoS) Compliance- In case of being unwell or exhausted and failing to keep duty status records for six months while operating a commercial vehicle.
  • Crash indicator- This BASIC category covers historical patterns of severity and frequency of crash participation based on government crash data.
  • Controlled substances/alcohol- Being under the influence of illegal drugs or alcohol while operating a commercial vehicle.
  • Vehicle maintenance- Inadequate commercial vehicle maintenance, such as incorrect load securement or malfunctioning brakes or lights.
  • Driver fitness- Driving a commercial vehicle while unfit, such as not having a valid CDL or failing to update driver qualification files.
  • Hazardous material compliance- Unsafely handling hazardous items, such as having leaking containers and failing to designate hazardous goods as such.

How is CSA Score Calculated?

There are specific data that comprise the CSA scorecard. Various data are collected from states and various factors are assessed for road safety. These factors include:

  • The sequence of safety violations, with more recent instances given greater weight
  • The amount, severity, and frequency of safety violations and inspections
  • The size and quantity of vehicle miles traveled by an operator’s fleet
  • The discovery of “Acute and Critical Violations” during investigations

SMS data is organized by FMCSA into the seven BASIC groups mentioned above. These classifications assist the agency in assigning CSA scores by sorting carriers into percentiles and prioritizing actions. On a percentile scale, scores go from 0 to 100. The greater the percentile a CSA score falls within, the more probable an intervention will be pursued by the agency.

If a carrier believes that their CSA score is unjust, they can appeal it using the DataQs system within two years. A successful challenge will lower their CSA score and maybe lessen the severity of the citation. After two years, violations are erased from the record.

How to Check CSA Score?

Carriers can check their CSA score by entering their name or DOT number on the CSA program website. Except for the Crash Indicator and Hazardous Materials Compliance BASICs, all BASIC information is open to the public. Additional safety data may be obtained through SMS with a unique login and pin. If a carrier does not already have an FMCSA login, they may sign up for one online.

How does the CSA Score Impact Carrier Insurance Costs?

Since 2010, the Federal Motor Carrier Safety Administration has been collecting and disseminating data as part of the CSA BASICs. The collection of data via the agency’s SMS is not new; what was new was the publication of it via the CSA program.

If a company has low BASIC scores, its carrier may be inspected by the FMCSA as an unsafe carrier. Many shippers also evaluate a carrier’s BASIC scores regularly, and some refuse to do business with carriers with high totals. Insurance firms will also look at BASIC scores as part of their overall health and risk profile assessment. Higher CSA scores might result in higher premiums, deductibles, or even coverage refusal.

Failure to properly maintain a CMV is often included in the Vehicle Maintenance BASIC. According to Carrier411, a score of 80 or more is deemed troublesome for most carriers. The Vehicle Maintenance BASIC includes nearly 200 things.

However, in general, this BASIC would include offenses such as broken brakes, lights, mechanical faults, and failing to make necessary repairs.

Insurers will pay particular attention to the Unsafe Driver, Crash Indicator, and Hours-of-Service Compliance BASICs, but they will also pay attention to the Vehicle Maintenance BASIC.

A high FMCSA percentile grade in this BASIC might indicate a firm or driver that does not maintain their equipment or is using outdated and bad equipment. In both circumstances, the FMCSA feels this equates to an increased risk of a collision, and whether this is true or not, it will have an impact on insurance prices.

How to Lower the Carrier Insurance Costs that are Impacted by CSA Score?

Keeping an eye on all the regulations and knowing all the policy terms is essential. Other than this a company can lower its carrier insurance cost by lowering its CSA score. Listed below are a few ways in which a company can reduce its CSA score which will then reduce the carrier insurance costs:

  • Use Reliable ELDs- ELDs can help to improve CSA scores in a variety of ways. With ELDs drivers and dispatchers can track hours of service and be warned when a driver’s limit is approaching. Form and method violations can potentially have an impact on CSA findings. These violations can be avoided if drivers report their hours electronically rather than managers depending on drivers to physically document their hours.
  • Pre-Trip Inspection- Vehicle maintenance violations reduce CSA scores significantly, and new standards for maintaining a vehicle in operation might be difficult to meet. Thorough pre-trip inspections, with a focus on vehicle maintenance concerns that drivers frequently ignore, are the most important component in averting these penalties.
  • Hire Good Drivers- It’s always a good idea that a company hires good drivers for their commercial vehicles. Having a high standard for the drivers and those that follow the road safety rules should be considered while hiring a driver. Also knowing a driver’s past behavior is essential.
  • Check for Medical Violations- Medical violations account for around 12.5% of all breaches. This is primarily due to drivers not having a proper medical certificate. However, driving when physically unwell is a more severe Fleet managers should keep track of the expiration dates of their drivers’ medical cards and ensure that they are updated.

Conclusion

There are undoubtedly many carriers and/or owner-operators with high CSA scores who are fully insured. However, when looking at a total cost of operation matrix, those higher CSA ratings may end up costing the carrier more in the long term. Shippers are less willing to contract with it, insurance costs are greater, and driver turnover is higher. So, one must maintain a good CSA score for the benefit of the business.

FAQs

What happens in case a carrier has a high CSA score?

In case of a high CSA score, a carrier will be subjected to an FMCSA investigation.

What is considered a good CSA score?

Having zero is considered the best performance. In case of a good CSA score, they would need to have a score of 10-30.

Categories: AUTO INSURANCE

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When Do You Need Fleet Insurance?

When Do You Need Fleet Insurance?

It is not easy to manage a fleet of business vehicles.

Apart from managing maintenance and your drivers, fleet managers also need to have the safety and protection of the vehicles on their list of priorities. To eliminate many risks lurking around your fleet, it is essential to have suitable fleet insurance.

Fleet insurance can protect all of your vehicles under the one policy. It can be more affordable than having individual covers for each vehicle. One renewal date van help minimise administration and management and allow different drivers to drive many different vehicles in your fleet.

When picking suitable coverage for your fleet, ponder over the risks associated with the types of vehicles in your fleet. You can use history of mileage and past accidents as a guide for your requirements.

However, not all businesses know when to move from an individual commercial vehicle insurance policy to fleet insurance. This is an important consideration.

Here are some scenarios when opting for fleet insurance can be beneficial.

When You Have More Than Two Vehicles In Your Fleet:

You can continue to use a single-vehicle policy unless you have at least two or more business vehicles. Once you have multiple commercial vehicles it is worth comparing individual policies vs a combined fleet policy. Typically, the more business vehicles the more attractive commercial fleet insurance can be. It can cover all vehicles under one policy and it also leads to several benefits.

For example, you will have more streamlined vehicle management and administration process as all your commercial vehicles will be under the same policy, with the same renewal date, provided by the same broker.

Apart from that, having all vehicles on one policy will remove the administration hassles when it comes to renewal, filing for a claim or updating details.

When You’re Looking For Affordable Insurance:

If you are looking to save on the cost of insuring several vehicles, evaluating Fleet insurance may be worthwhile. It can be cheaper per vehicle than opting for individual insurance policies per business vehicle.

When You Are Looking For Flexibility:

Fleet insurance can provide a greater degree of flexibility, especially when it comes to using the vehicles. For example, rather than appointing a specific driver for each vehicle, fleet cover generally allows you to pick any of your qualified drivers or employees to drive each insured vehicle.

How To Reduce The Cost Of Your Fleet Insurance

So you appreciate fleet insurance may be worthwhile if you have two or more vehicles in your fleet.

However, if you are like most small business owners, you are also looking to save your business insurance.

Here are some tips to do that with commercial fleet insurance.

Use Skilled, Trained Drivers:

First of all, hire trained and skilled drivers where possible. This is because the safety of your vehicles is largely determined by their driver. The less accidents, the lower your insurance rates can be.

If you and your drivers have a clean driving record, you can often obtain large discounts for fleet insurance.

On the other hand, unsafe and untrained drivers can force you to have to pay more for fleet cover.

Consider Raising Your Deductibles:

A deductible, or excess, is an amount you pay out of pocket if you claim. If you are prepared to pay more out of your pocket, your fleet premiums are typically lowered by the insurer.

Ask For Multiple Fleet Quotes:

Many insurers offer Fleet insurance, giving you many options to choose from. It also allows you to choose a reasonable rate among them, especially if you have not had many claims. Shop around for multiple quotes. Luckily, a good commercial insurance broker can help you compare price and cover benefits.

Consider Vehicle Mileage:

Lower mileage can mean lower rates. The more you drive, the more expensive your premiums can be. If possible, the routine routes of your fleet can be analysed to lower the premium costs.

See if you can reduce the driving distance by reorganising driver’s routes.

We hope we have helped explain when fleet insurance may be useful, and also, how to save on fleet cover.

What do you think? Let us know by commenting below!

Disclaimer:

*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a business insurance broker for more information.

Author Bio:

Romit Malhotra is the brand representative of Smart Business Insurance, a leading Australian insurance broker. A big foodie, he loves to travel the world. Also, a diligent businessman, Romit likes to pen down his thoughts on related topics whenever he finds some free time.

Categories: AUTO INSURANCE

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Expert Tips To Lower Your Car Insurance Premium

Expert Tips To Lower Your Car Insurance Premium

The experience of owning a car is truly complete when you have an excellent car insurance policy. By protecting it against damage, you are ensuring peace of mind for yourself. However, the financial crunch brought on by the pandemic has made most of us reconsider our expenses and the car insurance premium could be one area where people may consider holding back. Cancelling your car insurance policy is not the answer. But there are other ways to reduce the burden of paying a higher premium.

As a policyholder, you have a variety of options when it comes to choosing an insurance policy. Though you don’t have a say in the third-party liability cover, the comprehensive insurance options give you the freedom to choose whatever fits your requirements and needs. With some of these tips, you’ll understand how to reduce the car insurance premium.

Tips To Lower Your Car Insurance Premium

1. Compare Before Buying

One of the most effective ways to lower your car premium is to plan its purchase carefully. Of the many car insurance options that are available, go for something fairly affordable. You can use an online car premium calculator that will help you calculate car insurance premiums and compare the quotes from two or more good insurance companies. Whichever you choose as the final option need not necessarily be the most expensive or the cheapest one. The foremost consideration should be to see if the benefits and features are good enough for your vehicle.

2. Remove Unnecessary Add-Ons

Most reputed car insurance companies offer add-ons to supplement your car insurance coverage. These may include road assistance, key replacement, engine protection, etc., and they come at an extra cost. If you feel that your car insurance price is not enough for your vehicle, you can choose these features. Depending upon your need and the circumstances, they are quite useful in protecting your car and you. But that also means that your insurance premium will increase. While buying the policy, ensure that you do not buy all add-ons but instead, choose only the ones that you really need.
Likewise, if you see that you don’t have much need for a certain add-on, consider removing it from your policy. For example, during the lockdown, when you are driving around less, the roadside assistance feature is not of much use!

3. File Claims Wisely

When your damaged car needs help at the mechanic, you can cover those expenses with the help of your car insurance. However, it only makes sense to file a claim if the damage really needs the insurance money. Filing a claim for every little damage will play against you as you lose out on the No Claim Bonus (NCB). This benefit lets you earn a discount from your insurer if you have successfully avoided filing claims during the policy term. This is not to say that you must always shell it out of your own pocket. However, it does indicate that it pays to be a safe driver.
A No Claim Bonus is also valid if you’re changing over to a new car or insurer since it belongs to you and not your vehicle. Ensure that you renew your policy within 90 days so that you avail the NCB and the car insurance renewal premium gets reduced. Post this grace period, the NCB becomes zero.

4. Secure Your Vehicle

The more risk your car carries, the higher will the premium be. A four-wheeler with a few good security installations will attract a lower premium as the risk of it getting lost or stolen will be reduced. Adding a security camera to your garage also helps as it acts a good deterrent for robbers, thereby keeping your car safe from theft.
You can also have anti-theft devices like safety alarms and security locks for your car parts that could be easily stolen. Insurers consider all these measures while calculating your premium.
Also, being a part of organisations like the Automobile Association of India (AAI) or the Western India Automobile Association (WIAA) can earn you discounts on premiums. You will be considered a safe driver due to your association with these bodies under the Motor Vehicles Act & Rules.

 

5. Skip The Fanciness

Since the cost of your car will determine the Insured Declared Value (IDV) or the sum assured, it will determine the cost of the monthly premium. Many people love giving their car a posh looking by fitting accessories like ultrasonic sensors and alloy wheels. While this could be great for your car’s appearance, it will also increase its value and therefore, the premium.

You can discuss this with your insurer to understand how much you can customise your car without ramping up the premium cost. The other reason why having these gadgets can lead to an increase in the premium is because they’re attractive and quite likely to be stolen. Naturally, the risk factor here is greater than in a less embellished vehicle.

 Conclusion

With these ideas, you can choose which ones will help you save some money on your premiums. However, never consider cancelling your insurance policy just to cut costs. Another economical way to handle this would be to buy car insurance online as it eliminates all the overhead costs.

Also, not having four-wheeler insurance can become a more expensive deal if something happens to your vehicle. After all, you know how important it is to protect your precious car from damage.

Categories: AUTO INSURANCE

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Options For Jeep Wrangler Led Light Bars

Options For Jeep Wrangler Led Light Bars

While Jeeps do a great job on their own as far as lights go, you can always improve on them both in terms of functionality and appearance. If you’re curious to add on a LED light bar that’s just right for your personality and purpose, then we have you covered. We have all the best options for Jeep Wrangler LED light bars, and we’re sure there is at least one that is perfect for what you’re looking for. Let’s get started!

What Is An Led Light Bar?

Are you on the hunt for an effective way to better light your path? Then you’re very likely in the market for an LED light bar. These are bright, powerful LED lights which can light up either in front of you or behind your Jeep Wrangler.

Why would you need extra illumination?

Well, if you’re particularly adventurous and like off-roading, then this is an excellent tool in terms of safety precautions. You’ll be able to see much further ahead of you or behind you, helping to give you more reaction time for possible obstacles such as boulders, logs, potholes, or even wild animals.

On top of that, they just look cool and give a more custom look to your vehicle.

1. Front Bumper Mounted

The front bumper is the most intuitive and most common place for people to mount their LED light bar. It’s so common, mainly because the front bumper is simply the most convenient place to attach it as most times the bumper will already come with holes so no drilling is needed. If you’re not particularly a DIY-savvy person, then you’ll also appreciate how simple it is to wire the light.

The only real “downside” to this type of bumper – if you can even call it that – is that it will be pointing the same direction as your stock headlights. That means you won’t be able to benefit from multiple lighting angles, though not everyone needs or wants that, anyway.

2. On The Roof

This is the second most common location to mount the LED light bar, as it offers the biggest angle different between the light bar and your stock headlights. With this, you’ll get the maximum amount of visibility of any possible light bar/Jeep Wrangler configurations. Not to mention, it will look the coolest of all the possibilities. It really turns heads, thanks to it being so noticeable, so if that’s something you really value you’ll be getting that with a roof-mounted LED light bar.

So, then, why doesn’t everyone mount theirs on the roof? Well, it’s quite possibly the most difficult to mount properly. As it’s in such a hard-to-reach location that’s kind of a hassle, it’s harder to wire and also requires drilling as there typically won’t already be holes to mount the bar on.

3. Rear Light Bar On Roof

These aren’t quite as common as the other two we’ve covered so far, but are still incredibly useful and add a cool, finished touch to the Wrangler. The rear light bar is perfect if you want extra visibility while backing up your car in reverse or rear visibility, overall. These can be great if you can wire them to work as essentially a third brake light, as well, to help with drivers behind you.

Installing these LED light bars may be a bit more convenient than those which go more towards the front of the roof, due to the heightened access to the back of the Jeep.

4. Rear Backup Mounts

These are occasionally more budget-friendly than rear LED light bars on the roof, but it’s not a rule. Installation is very simple on these models, as they typically use factory bolt mounting spots which means you don’t have to worry about drilling or maneuvering yourself into unnatural positions like you often have to do on rooftop lighting accessories. These powerful lights can also be used as back up lighting or simply to illuminate the space behind your vehicle.

5. Combination Mounting

Combination mounting not only looks appealing, but also maximizes your view in low-light environments. Just make sure that the different lighting units have a uniform appearance or it could create an undesirable mismatched look, instead.

Summary

Now that you know all you should about the best options for Jeep Wrangler LED Light Bars, which one are you going to mount on your vehicle? The great thing is, that you’re not just limited to one type or configuration! Of course, that also depends on your Jeep, but in most cases you can add on various light bars for maximum viewing angles and visibility. We hope that our guide has helped you narrow it down to the best one for you. Thanks for tuning in and we’ll see you again soon!

Categories: AUTO INSURANCE

5 Tips On Buying The Right Car Insurance Policy

5 Tips On Buying The Right Car Insurance Policy

Are you searching for the best car insurance? If that’s so, this blog is just for you. 

I understand picking up the right car insurance can turn quite tricky, as there are so many out there selling it!

But, let me tell you something, it isn’t as challenging either.

A few checks and asking the right questions to the insurance vendor will help you choose the right one.

So, let me walk you through the five essential factors you must consider before finalizing your car insurance.

5 Important Considerations before Buying Car Insurance

Determine the Type of Coverage you need

At the outset, invest some time in determining the type of coverage you need.

So, how do you determine your coverage?

Remember, you can increase your protection as much as you want.

Every state has minimum car insurance requirements, complying with which is imperative.

You will have to choose between choosing only liability or liability with comprehensive coverage. Besides, you may also want to select liability with full coverage with collision.

The coverage will drive the cost of your insurance. 

So, ensure that you choose your coverage based on your needs and what’s more affordable for you.

Choose the Right Insurance Company

It isn’t just about the premium, or the insurance coverage, but also about the insurance provider.

The services of your insurance provider, when in need, and the provider’s approachability should necessarily drive your choice.

Now, as there are plenty of insurance providers, it is quite likely to make an abrupt choice.

Hence, you must conduct some research here, and vet the insurance provider based on the following, but not limited to these factors.

  • The company’s reputation
  • Financial condition
  • The coverage it offers
  • Ease of doing business/ services provided.
  • The discounts offered
  • How does the insurance provider treat your credit score?

Ask the Right Questions

Understand the policy. 

You will be paying for it, and hence, you must ask the right questions to your insurance provider.

Ask questions associated with every fundamental element of the insurance policy such as the coverage offered, value additions, the premium options, the discounts offered, etc.

If there’s some confusion on the coverage part, your insurance provider must help you determine the best suiting coverage in your choice.

Insurance Claim Services

I wish you never have to file a claim. However, unfortunately, if you need to do so, the claim procedure must not impede the application. 

Your insurance provider must process the claim as quickly as possible, after the required inspection, collecting the necessary documents, and give you everything you are entitled.

Ensure that you know what all documents you need to file the claim to expedite the claim process.

Choose the Right Deductibles

The insurance deductible amount is the one you will pay before your insurance policy begins paying for the car damages. 

The insurance deductible is inversely proportional to the insurance cost. 

It means, the cheaper the deductible, the higher the cost of the insurance policy.

You must ask for multiple quotes with different deductibles. Various options will help you get a clearer idea of what’s affordable for you.

About Driscoll Insurance Services, LLC

Driscoll Insurance Services LLC has been your trusted insurance partner for over four decades. It offers comprehensive insurance services, right from reviewing the coverage, to buying the most appropriate insurance. 

So, if you wish to buy car insurance, choose Driscoll Insurance! 

For more information or a quick quote, connect with Driscoll at + 1 412-833-1500.

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Auto Finance Value Chain And Transition For Future

Auto Finance Value Chain And Transition For Future

Future is what every business look at right from the start and the auto lending companies are no different from this universal business principle. Therefore, the auto lending market of today needs to look beyond 2019 in order to sustain in the future, which the experts anticipate to change dramatically which may even result in the volume of business shrinking for the auto financing companies.

However, all is not so bad even if this is the stage where the concept of mobility is sure to change in the future. There are ways in which the auto financing companies, the traditional ones as well as the other sources such as Liberty Lending and its likes can prepare for the future of mobility.

There is one thing that needs to be followed and kept in mind at this stage. This is the fact that the transition from today’s state to the future state of mobility will not happen linearly or uniformly. This is because the needs for mobility may vary depending on different factors such as:

  • With the demography
  • With the geography
  • With the available technology and
  • With the social attitudes.

All of the above will progress unevenly and the different stages of mobility will likely to exist concurrently in the foreseeable future.

That means the stakeholders need to prepare themselves according to the prevailing market situations so that they are ready to operate in a multifaceted as well as in a much more complexmobility ecosystem in the near future.

Auto finance value chain

There are a few specific and rudimentary steps of the auto finance value chain that even after all the turmoilwill persist in the future of mobility. In this situation:

  • Loans and leases will still need to be underwritten, originated, and sold
  • Assets will require being disposed of and the
  • The finance products will need a dramatic change as anticipated in the future of mobility.

The financial services industry is as it is huge and sophisticated. In addition to that, with the beginning of marketplace lending as well as other disruptive trends it has become increasingly innovative and dynamic. With such features of the lending market it is required to execute each one of those steps to create the best products that will meet the needs of the customers. In such a situation there is a high chance that several auto finance companies will deviate from their capabilities significantly. These finance companies will need to:

  • Determine the particular segment or segments they want to service in the future mobility ecosystem
  • Evaluate their existing practices and current operations
  • Make the necessary amendments in their policies to enhance or alter their functional capabilitiesand
  • Determine and identify all those resources and new skills that they will need to compete with successfully.

All these will help the auto financing companies in the future of mobility bring about the necessary changes that will in turn help them in many different ways such as:

Auto

  • Rebalancing their business
  • Ramping up their associated capabilities
  • Dialing back investments in consumer markets
  • Increasing their returns and profits.

All these indicates that there is a significant need to put in extra effort by the different auto finance players at different levels of mobility, especially those into commercial auto lending.

On the other hand, if the large and diversified banks are concerned it may be much easier for them as they will simply have to shift their business from one specific division such as auto lendingto another for that matter such as equipment lending.

However, for the captives, they will need to be focused heavily on consumerbased auto lending and leasing. For them especially, the need for making such transformative changes will be greater. This is because they need to explore an entirely new business area and models. This will affect their capabilities that are needed for commercial finance.

The sales aspect

Sales happen to be the first significant step in the auto finance value chain. This will need the auto finance companies to find and connectwith those specific customers who need money to buy a car. Today, this connection is established indirectly through dealerships as more than 80% of cars are financed in this way through a dealer.

When it comes to captives’ relationships with OEMs and dealers it is considered that:

  • These are critical for access to the customers or for the purpose of loan or lease subvention.
  • Such indirect relationships as well as the ability to influence customer loyalty towards a specific carmakerare two most unique sources of strength for the captives.
  • These important foundations will continue to provide them with a competitive advantage in the lending market for the personally owned vehicles irrespective of it being autonomous or driver driven.

All these will remain significant for the captives even as the auto retailers and dealers adjust their own business prototypes to the future of mobility.

Shared vehicles in future states

Lastly, the auto finance value chain must consider the shared vehicles in future states 2 and 4 to recreate or refurbish their financing model. They will need to focus on Business toBusinessor B2B model and approximate more closely the rental car fleet of today.

However, if they wish they can simply shift to the equipment financing markets as well such as:

  • Construction
  • Machinery
  • Trucking or
  • Office equipment.

Typically, sales in the lending market whether it is for auto, equipment, home or any other are driven by the level of individual relationships established and maintained between the financer and the commercial customer. The financier here can be a typicalcommercial bank or any specialty money lender such as a fleet finance company.

In auto finance however, most of it is a dealer-centric approach or the more frequent ‘Feet on the street’ approach which is typically a direct sales approach. Several financial institutions provide a dedicated sales manager for their larger business customers.

No matter whatever is the approach, staying updated with the changes in the market and customer behavior is the key to success in auto financing.

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Tips For Teens And Their First Car Insurance Policy

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Just bought your first car? Congrats! Having a car in the US means you must purchase a mandatory insurance plan. Some teens opt to stay on their parents’ plan as an additional driver, which means lower payments and often additional benefits for having an extra vehicle in the fleet. However, if you’re ready for a policy of your own, you’ll have the freedom of choosing the type of plan and extra options you’d like.

Most states require liability insurance at minimum. In states like Texas, you are legally required to at least have a 30/60/25 plan, giving you the following coverage:

  • $30,000 – bodily injury liability per person in a car accident
  • $60,000 – maximum amount your policy will cover for the collision / car accident
  • $25,000 – maximum amount of property damage that will be covered

States will vary on the amount, but you can expect to get bodily injury, vehicle, and property damage coverage up to a certain amount if you are at fault in an accident.

You will have the option to adjust your deductible as well. If you have a $500 deductible, for example, you will pay $500 out of pocket before insurance will cover the rest, whereas a $1000 deductible will net you a lower monthly payment, but set you back a bit further in the event of an accident. It’s up to you to decide which deductible is a better investment in the long run.

It’s also up to you to decide if you want to pay for extra coverage. These will save you in sticky situations, but comes down to what you can personally afford. Here are the main options explained:

  • Collision Coverage helps cover the cost of repairing you car, if your car is repairable. If your car is not repairable, you will be paid the current value of your car in full.
  • Comprehensive Coverage covers the cost of replacing or repairing your car if its stolen, vandalized, damaged by fire, weather or a collision. It also may pay for a rental car depending on the policy.
  • Medical Payment Coverage helps pay for medical bill that may result from an accident.
  • Personal Injury Protection (PIP) coverage is like medical payment coverage but it also covers lost income and the cost of hiring a caregiver for an injured individual.
  • Uninsured Motorist Coverage covers you in the case that the other motorist is uninsured or does not have enough insurance.
  • Towing and Labor Coverage covers situations where you car can’t be driven and must be towed as well as when you have a flat tire or need a jump-start. Some drivers choose an independent AAA membership rather than include this with insurance. Do a price comparison to figure out which works for you.

Start by getting quotes online, using your personal and vehicle information to get estimates. You can also call in to discuss your options with an insurance agent. Base your decision on price, coverage amounts, reviews, and discount options. Many carriers will redeem hundreds of dollars in discounts for completing online driving courses. Play it smart, drive safe, and those insurance companies will love having you around.

Categories: AUTO INSURANCE

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Do You Plan On Renewing Your Car’s Registration In Dubai?

Do You Plan On Renewing Your Car’s Registration In Dubai?

When it is about your car, one thing that you must do every year is to renew its registration. Luckily, the authorities in Dubai have made the car registration renewal process relatively easier as long as you remember to do it before the due date.

A 30-day grace period is allotted to the drivers to renew their auto registration once it has expired. This enables the car owners to drive their vehicle to the garage for any repairs in case it fails the inspection test, which is also why the auto insurance coverage is usually 13 months long.

If a car owner is unable to renew their vehicle’s registration after the 30-days grace period, they are charged with a DH500 fine, 4 black points, and confiscation of the vehicle as well. To prevent this from happening, you can now renew your car’s registration online as well! Check out cashyourcaruae.com for more details.

Documents You Need To Prepare

Firstly, you must ensure that there are no penalties on your vehicle. In case there are any due traffic charges, pay them off via Dubai police sites or at the time of registration. To renew your vehicle’s registration, you require your driving license and Emirates ID along with three other crucial documents; the old registration card, the renewed motor vehicle insurance, and car testing certification that the car has passed the examination.

Getting The Vehicle Tested

New vehicles are exempted from testing for the first two years, after which the owner must visit the RTA or ADNOC testing centers to have their vehicle assessed and obtain the ‘passed’ certificate. This is to make sure that the vehicle is roadworthy, ensuring that the brakes, tires, suspension and steering systems, chassis are all up to par.

Where To Go

If you are considering buying a used car in Dubai through a dealer, they will most likely take care of your vehicle’s registration from the first year. From the second year onwards, you perhaps have to renew the registration yourself.

How To Renew

Once you have all the documents in hand, you have two different options.

In-person – Pay the renewal fees of DH350, wait in long queues, and then pick up the renewed registration card and a registration sticker that comes with a new expiry date.

Online – You may consider the online renewal option via renewmycarregistration.com or the RTA’s Website. There you will select your car, submit the documents and confirm the delivery method. After you have paid the fees, your application for renewal will be processed within 3 to 5 working days. After you have paid the service fees, your application will be processed within five working days.

Categories: AUTO INSURANCE

Auto Repair Secrets You Need To Know

Auto Repair Secrets You Need To Know

Having an automobile repaired can strike fear in the heart of countless individuals. You need to learn more about auto repairs if armed with the correct information. The article below contains the information with regards to auto repair.

This certification guarantees that the technician has completed a test and has more than two years of experience. This tells you know that the best possible person is working on your car.

Get a reliable battery charger to keep in your car. Learn   I Love Pattys Closet   how to find the points where you should connect the battery charger on your car.

Make sure you often check the radiator in your car. You need to  Try OXYwater.com      allow your car to run for a couple of minutes, shut the engine and open your hood. You should never open the radiator if your car that is running.Professional Check the radiator fluid by using a dipstick and remember to always mix the coolant with water before putting it in the radiator.

Look at the reviews for any business you’re thinking of patronizing. This can African Development Corporation inform you a good indication of how satisfied customers are with their experience. You can use the information to find a place you feel comfortable enough with to fix your money at.

Be wary of mechanics who make unnecessary work on your vehicle. If they noticed parts that are starting to get worn down and will need to be replaced soon but they should not replace the part without getting your approval.Never give your vehicle to a mechanic that preforms unnecessary repairs, a good mechanic should let you know.

If you’re headlights are giving off dull light, they might just be dirty. Use glass cleaner to get the job done efficiently.

Assemble a DIY auto repair kit and put it inside of your trunk. Your car came with equipment to change a tire. A lug jack and wrench are key. You should probably get a Phillips and flat head screwdriver and several types of wrenches.

Think about using a mechanic who does repairs in his or her own garage. If they have auto repair experience they can provide quality work, they can typically do jobs for far less cost. You can save a lot of money and provide an independent worker by providing them with business.

The ignition cannot hold the weight of your keychain can cause problems for your ignition.If your keys stick, you need to replace your tumblers and get rid of your favorite troll buddy that is weighing down your keychain!

You don’t necessarily have to visit the dealer in order to get your dealership if repairs are needed. There are many great technicians reside. Find a mechanic who you are comfortable with and stick with them.

Warranties can be very important when you need to replace parts.Ask the mechanic about any warranties on any parts he is replacing.

Don’t let a mechanic insist that an engine flush is part of a common maintenance visit. This service is very expensive and it isn’t necessary unless you’ve done things to harm your engine like not changing the oil regularly.

Don’t allow people to sell auto parts from anyone claiming that they’ll last forever. This is usually a ploy to get more money as possible from vulnerable consumers. One example of this is transmission fluid will last a lifetime. Accountancy marketing While this does not need to be changed as often as typical fluid, it must be changed around every 80,000 miles.

Dealing with car trouble can be very frustrating, especially if you do not have a good mechanic to help you. If you have some basic understanding of auto repair, you do not have to worry, but. Using the above advice, you’ll have the resources for any problems that come up.

Categories: AUTO INSURANCE