Tag Archives: Insurance

Study: Halloween Worst Day of the Year for Cars

ID-1008239If Halloween left you with egged windows and toilet papered trees, count yourself fortunate. Many drivers woke up to find damaged cars, all in the name of out-of-hand holiday mischief.

The Insurance Institute for Highway Safety (IIHS) reports that drivers have twice the chance of waking up to broken windshields, spray painted graffiti, or slashed tires on November 1 compared to the rest of the year. An average of over 1200 insurance claims are filed for damage from Halloween night’s tricks, more than any other single day including the 4th of July, New Years, and St. Patrick’s Day. With an average claim costing $1,528, Halloween alone accounts for $1.9 million in claims.

For drivers with a garage, the answer is obviously to park the car inside for the night, but what about everyone else? On high-risk holidays like Halloween and the 4th of July, it might be worth it to pay for a spot in a parking garage for the day. Depending on the attachment to the car, it might be better to pay for peace of mind and prevent a costly bit of vandalism.

Was your car damaged this Halloween? Do you have any suggestions for drivers wanting to protect their car? Leave a comment below, and let us know what you think!

 Whether if you’re trading in, looking for a good deal on a used car, or ready to buy your first car, Approved Loan Store is here to help you! Good credit, bad credit, no credit, we will work with you to get you a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of Salvatore Vuono / FreeDigitalPhotos.net

Are You Paying Too Much for Auto Insurance?

At Approved Loan Store, we want to make sure our customers get the best possible deal on an auto loan, but there are more costs to owning a car than just the loan payments. There is the cost of gas, general maintenance, and of course, insurance. We want to help our customers save on these other car costs, so when we saw these tips for lowering car insurance costs over at Fox Business, we wanted to share them with our readers. Please remember that discounts and terms of those discounts vary between insurance companies, so ask your insurance company if these discounts are applicable.

If You Are in a Committed Relationship…
Married couples and unmarried committed gay couples can often receive discounts, especially if they are insuring multiple vehicles.

If You Are a College Student…
Full-time students can receive a discount. Sometimes the discount is based on grade point average, but that isn’t always the case.

If You Installed a Car Alarm…
Many insurance companies will offer a discount for installing car alarms, fuel or ignition cutoff switches, vehicle identification number engravings, or car tracking systems.

If You Switched to Paperless…
So many insurance companies want to brag about going green, and they give incentives to customers for e-mail communication instead of paper mailings. Also, if you are thinking about switching to a hybrid, some car insurance companies are giving as much as a 10 percent discount.

If You Were in a Fraternity/Sorority…
Former frat brothers and sorority sisters can get up to an 8 percent discount. The reasoning is that individuals involved in these kinds of groups are more responsible and less likely to be reckless drivers.

If You Served Your Country…
Many companies want to ease the financial burden of those who have served in the armed forces, and car insurance companies are no exception. Some offer a 15 percent discount when the driver is home in the states and up to 80 percent when they are deployed.

If You Have Good Credit…
This is a tip we have mentioned before, but it bears repeating. By improving your credit, you can save money on so many things including car insurance.

If You Are a Teacher/Doctor/Police Officer/ Self-Employed…
There are numerous discounts based on profession, and it isn’t just for servicemembers. Again, check with your insurance company because the variety of professions included is shocking.

If You Are a Loyal Customer…
Have you been with your insurance company for 5 years? 10 years? If so, you might be eligible for a customer loyalty discount.

Are you taking advantage of all of these discounts? Did we miss any lesser-known discounts? Leave a comment below, and tell us what discounts you are taking advantage of with your insurance!

Looking for a new or used car? Concerned that your credit is holding you back? Approved Loan Store wants to help you! Fill out our secure online auto loan application here, and keep up with the latest news and auto buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Two-Face Car: State Farm Builds Monster Classic Car

Last weekend, The Dark Knight Rises broke box office records and won critical acclaim as well. America has Batman on the brain, including car enthusiasts, so Jalopnik was very excited to find a classic car rebuilt to resemble one of Batman’s most famous villains.

Harvey Dent, also known as Two-Face, is an iconic villain, and even people who don’t read comic books know Two-Face. One side of his face is handsome, and the other is hideously deformed. Now, State Farm needed a new way to train classic car insurance appraisers so they could tell the difference between a good restoration and a shoddy one. They wanted something that would be memorable for the trainees, so instead of just bringing in a good classic car and a bad classic car, they build a classic car with two “faces.”

On the driver’s side, this 1968 Camaro has been meticulously refinished with an off-white paint job. On the passenger’s side, the car is a patchwork of parts covered in flashy red, white, and blue paint. The brakes, wheels, and cylinder heads don’t match, but the car does its job. Side by side, it isn’t hard to see the difference between the good restoration and the bad restoration.

Unfortunately, there is a bit of a downer for anyone thinking about getting their hands on State Farm’s Frankenstein of classic cars. The “Harvey Dent” car is not exactly built for the road. It can drive well enough to use in training or show off at an auto show, but personally, I wouldn’t feel comfortable driving it out on the road.

Approved Loan Store might not have the “Two-Face” car, but we love to get our customers into the new or used car of their dreams! Good credit, bad credit, no credit, we want to help you! Fill out our secure online auto loan application here, and connect with Approved Loan Store on Facebook, Approved Loan Store on Twitter, and Approved Loan Store on YouTube!

Image Credit: State Farm on Flickr

With Car Costs, Don’t Forget Insurance!

When someone is a first-time car buyer, the whole car shopping experience can seem very exciting. Everything is shiny and new, and it is easy to get caught up in imaging the wind in your hair while forgetting costly details.

One of the details that people sometimes forget when car shopping is the cost of insurance. Certain types of cars will have higher insurance costs, specifically flashy sports cars, and teen drivers will automatically have significantly higher insurance rates. Smart car shoppers should be keeping insurance in mind as they browse. That way, they aren’t caught off-guard and unable to afford their car payments and insurance.

CBS News recently published some tips for getting a lower insurance rate. While some of their suggestions are not feasible for everyone, such as moving to another city with lower overall rates, there are a few useful suggestions for every driver. You can view the original article here, and we’ve included our favorite tips below.

  1. Safe Driving: Follow the rules of the road, and avoid tickets and accidents. Most insurance companies have discounts for drivers who don’t have tickets. Progressive Insurance also has a program where drivers can prove their stellar driving habits using a computer key which monitors the car’s speed.
  2. Driving the Right Car: Sports cars might seem sexy, but they will jack up the price for insurance. Choose a practical car that won’t break the budget on insurance.
  3. Know Your Discounts: There are lots of car insurance discounts available. Teachers, engineers, and doctors can often get special discounts, and students can get discounts for good grades.

 Looking for a new car? Approved Loan Store can help, even if you have no credit or challenged credit! Fill out our secure online car loan application here, and keep up with the latest car buying tips from Approved Loan Store by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

Image(s): FreeDigitalPhotos.net

Insurance Purchasing Tips

Choosing the right auto insurance is a very important thing to keep in mind for anyone purchasing a car. The problem, however, is it’s easy to get lost when figuring out which is the best. Luckily, the Insurance Information Institute has released a guideline to make sure that people get the best insurance at the best possible rate.

Make sure to keep in mind that an insurance premium is based on a multitude of factors. It can include everything from your driving record, how much you use your car, where you keep it parked, and your credit score. This is why it is important to get educated about all your choices, and the best way to do this is by asking questions.

Depending on the company you go with, your prices and coverage can vary greatly. In order to make sure you’re getting the best, the article recommends that you get at least three different quotes. Call the insurance agents or companies directly and compile information from the internet. Don’t shop by price alone but rather look at an insurance company with a good reputation. Get advice and recommendations from family and friends. Also, there is a state insurance department website that you can peruse.

Premiums are based on the price of the vehicle. This includes the cost it takes to repair it, and factors like the safety record are taken into account. It’s worth doing some research into a car to see how these might impact the insurance cost on buying the car. Know just how likely this car is to get stolen before going in for a purchase, because the insurance premium looks at these factors.

Increasing your deductible is another recommendation. A deductible is the amount you pay before the insurance policy kicks in. If you get a high deductible for your coverage, this can have an impact on lowering the cost of your premium. Just make sure that you have the money in case you have to pay a claim before asking for an increase. You don’t want to be unprepared.

The final tip is to make sure you ask for any and all insurance discounts. The insurance companies have a large range of different discounts they can offer drivers. Make sure that you are vocal in your questions to the insurance agent. Ask them about items such as anti-theft devices, multiple policies with the same company, drivers education courses, good credit record, and higher deductibles. These are just a few options, so make sure to ask.

Some leg work is necessary, but really, when buying a car, you should always have everything ready in advance. This will help to make sure that when you do go into the dealership, you’ll be walking out with insurance that’s best for you. Go online to Approved Loan Store’s website and apply to get a car loan to drive away in your dream car today. Follow ALS on Facebook as well so you can stay up to date on every blog and deal!

Image: Salvatore Vuono / FreeDigitalPhotos.net

Low Income Drivers Struggling to Find Reasonable Auto Insurance

Car Insurance is something that many drivers struggle with. By law, they are required to have it for their cars. The problem is that many have issues with even affording it. Due to things, such as credit problems, many are not getting a fair chance to get reasonable insurance.

The Consumer Federation Of America recently released a study called, “Lower Income Households and the Auto Insurance Marketplace: Challenges and Opportunities.” The study shows some of the ways that low income consumer are being denied economic opportunities in the auto insurance market. A couple of the major auto insurers are even refusing to sell policies to low income customers. The ones that do sell them are often at much higher premiums and give much less coverage.

The startling number the study reveals is that a third of low income drivers don’t even have insurance. That means that low income families have an incredibly hard, almost impossible, time getting qualified for an auto loan. The Consumer Federation of America is wanting state regulators to lead a charge in getting something done. They are asking for low income families to be able to get access to insurances by lowering minimum liability coverage requirements, by creating low income purchasing programs, and starting a program that will reward safe drivers.

Buyers shouldn’t have to be concerned if the insurance deal they are getting is for the best. They should be concerned about getting the car they want. Approved Loan Store is looking to make sure that buyers get the best deal for a car loan. Check it out today on their website and be sure to follow ALS on Facebook to stay up to date on all the latest news and offerings.