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Do auto insurance companies share information?

Written by Dave Benheim. Posted in Ask An Insurance Question Last Updated: 02/22/2018

Visitors to the site have asked us whether auto insurance companies share information between themselves. In response, we’re here to let you know that yes, auto insurance companies (along with other kinds of insurance companies) do share information.

How auto insurance companies share information?
Consumer reporting agencies gather information about things like consumers’ driving records and past insurance claims. This information is available to insurance companies, who use it to determine insurance costs and which policies you have access to.

Can I get access to these reports?

Yes, you can, once every 12 months. They may be free or require a fee, depending on the agency.

For more details about who creates these reports, check out the Consumer Financial Protection Bureau’s list of consumer reporting companies. It includes auto insurance as well as many other types of insurance and consumer reporting more generally.

A tip before you shop

It’s always a good idea to review these reports before you start looking for an insurance policy. This will allow you to correct any mistakes in the report.

It’s also a great idea to do research into various auto insurance companies’ reviews in order to ensure that you are able to find the best coverage, no matter what information your insurance company shares. Here’s a great option for auto insurance reviews.


Commercial Car Insurance vs. Personal Car Insurance

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 03/03/2018

Q: Can I insure my personal vehicle on my commercial car insurance policy?

A: Actually, yes you can and it could very well be the cheaper way to insure your vehicle if you already have multiple business vehicles.

In fact, if you use your personal auto for any type of business dealings at all, especially transporting clients, your insurance company is actually going to prefer that you put your vehicle on a commercial car insurance policy anyhow.

Even if you only use your vehicle for personal use, it still can be on your commercial car insurance policy. If you are worried about the type of coverage or proving you have coverage, car insurance is car insurance as far as the state and your bank is concerned. Neither party cares where your coverage is coming from as long as you have the coverage.

For more details, contact your insurance agent. They will make sure your commercial insurance company will allow your personal vehicle and that you have the right coverages on your commercial car insurance policy, for however you happen to use your personal vehicle.

On the other hand, in a lot of cases a personal car insurance policy is cheaper if you have just one vehicle. You can still use a personal car insurance policy even if you are using it to drive around for your business (other than delivery), or if you add on a special endorsement that allows you to drive for companies like Uber or Lyft.

Again, talk to your insurance agent for the best way to go for your particular situation.

Can car insurance companies deny coverage?

Written by Dave Benheim. Posted in Ask An Insurance Question Last Updated: 02/05/2018

Yes, car insurance companies can absolutely deny coverage. It is within their rights to do so if they consider you to be too high a risk to insure.

Potential indications of risk include:

  • A car considered high performance
  • History of violating insurance (e.g. lapses in car insurance coverage)
  • Poor credit
  • Large number of accidents/tickets/other driving violations in a year
  • Having received a DUI or DWI
  • Serious accident (especially those that lead to injuries)
  • Providing incorrect information on your car insurance information

If you are denied coverage, what should you do?

  • You should keep looking for a different company.
  • Otherwise, you’ll want to seek out high-risk car insurance.
  • Finally, your last option would be to look into state insurance plans, which are available in all states that legally require drivers to have car insurance.


You can also improve your chances of receiving coverage by taking a driving class.

Should you get a Lawyer for your Car Accident?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 01/27/2018

Q: I was in a really bad accident where I was injured and the people in the other car were injured also. Should I get a lawyer for my car accident?

A: No. If you have car insurance you do not need to get a lawyer for your car accident. If you are the one that caused the car accident, the liability coverage in your car insurance policy provides you with an insurance company lawyer for your car accident. They will go to court for you if that is where it ends up.

However, if you and your insurance company are having issues on payments to you from them under different coverages that is when you may need to get a lawyer for your car accident. This doesn’t happen often, but it’s not unheard of.

More often it’s when the other person is at fault and their insurance company isn’t acting in good faith, that you will need a lawyer for your car accident. Claim’s adjusters are not the most generous people in the word and they are not paid to be so. If the other company is not making a fair payment for the damages to your vehicle, not giving you a fair amount for a totaled vehicle, or offers you a ridiculously low settlement for an injury accident, then it is definitely time for legal help.

However, always  try to work with the insurance company first before obtaining a lawyer for your car accident.

Paying Auto Insurance with Bitcoin

Written by Todd Clay. Posted in Research Last Updated: 01/16/2018

The best auto insurance providers would ideally offer Bitcoin as a method of payment, improving the service by expanding its potential user base. The first to do so will likely see their profiles improving as a result of improving the user experience, with great customer reviews from the high-tech Bitcoin community.

More generally, since insurance companies offer savings to those who appear low-risk, electronic payment saves users an average of $28 annually. While EFTs are a fairly common option for this, others would prefer to use Bitcoin.

So why the slow adoption? First, with Bitcoin, there’s a lack of available info about clients’ credit history for companies to assess them. Second, the insurance industry tends to be more conservative, and this is just one example of that. Nevertheless, it’s reasonable to believe that if Bitcoin continues to increase in popularity, insurance companies will offer it as a payment option. 

Bitcoin and Sport Car

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Car Insurance Guidebook Unravels the Car Insurance Mystery

Unless you work in the car insurance industry, the topic is probably a mystery to you. The words deductible, comprehensive, collision, liability, premium, loss of use and bodily injury are all gibberish when they reach your ears.

Unfortunately, insurance is something that you are required to have by law if you want to drive. Because of how confusing it is many people go around in almost an insurance daze while they get car insurance quotes from the auto insurance companies that they have heard of. In reality, they are completely lost as to what they are actually buying.

Instead of looking at what each insurance company offers in the terms of protection for both themselves and their car, they are instead looking for cheap car insurance. Finding the cheapest car insurance coverage makes having to buy the required product all that much less painful, but misses the whole point of having insurance.

Learning about insurance through your insurance agent or websites like Car Insurance Guidebook will give you the upper hand when you looking for car insurance. You can take your knowledge and not only find the best price for insurance, you can use it to find really great insurance to protect you and your assets. Then you aren’t stuck settling for just average car insurance that can hurt you financially if you ever need it because there isn’t enough protection.

For example, when looking for insurance the car insurance rates are just the first of many factors that need to be taken into account when you are shopping around for car insurance. You also need to take into account the type of vehicle that you are driving. Many people don’t know this.

Are you driving around a vehicle that is a new sedan and can be protected under any blanket insurance policy? Or do you have an old car that you fixed up that needs special protection and could be better covered under classic car insurance?

Don’t just assume that when you compare car insurance that it will be a one-size-fits-all policy. This is where the insurance knowledge will come in handy; you will know what you need to protect yourself and your vehicle.

You will understand what your insurance agent is talking about when they use insurance terms and you will actually be able to make an informed decision. This is much better for you instead of the “nod and smile” approach people take in their insurance agent’s office.

Also just like your life changes your insurance needs will change. This year you may just need to learn about the best deductible to have. Next year you may need to educate yourself on car insurance for young drivers. As the years pass, motorcycle insurance may be something you will need to know.

Many wise people say that you never stop learning, so take their advice and educate yourself on the insurance that you spend a lot of money on and can’t get away with not having.