All posts in Auto Insurances

Classic Duesenberg Ride

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The first Dursenberg sports car was built by two self taught German born engineers in 1913 using the Duesenberg Automobile & company Inc brand name in Des Moines, Iowa USA. This hand built cars were in the league of the most desirable sports cars when they were introduced. In fact, the Dursenberg car won a number of races that includes the Indianapolis 500 and the French grand prix between 1921 and 1927. Even though this classic car model was a marvel during its hay days, it failed the mass production test because the company had no profitable sales volume so it became bankrupt and closed up.

The classic Dursenberg was later bought out by Auburn Automobile Company among many others who used the advanced Dursenberg Brothers engineering know how to produce several luxury sport cars using the Dursenberg brand name. The model J was the first Dursenberg luxury car design to be rolled out after it was bought out. It was released during the 1928 New York car show. This vehicle model had all the markings of a high-end luxury sports car. It boasted of unheard top speeds of 119 miles per hour with high gear acceleration rates that could shoot to 94 mph when moved to gear two. Beside that, it had a supercharged 256 horsepower engine that supported eight straight dual camshaft overheads.

However, while the engine work was done by Dursenberg all the bodywork was subcontracted to specialized car chassis builders form North America and Europe who gave the Dursenberg luxury car its elegant finish. The chassis value when adjusted for time plus inflation in 2004 went for 8500 dollars with the complete model going for 13000 dollars. However, users had to get a top of the range Duesenberg model for $20,000. Between 1913 and 1927, before the original company went bankrupt, the Duesenberg luxury sports car brand manufacturers presented model A and X. But after Cord Corporation bought it out in 1929, it released sports cars under the model J series until 1937 when they started getting fazed out of the market gradually.

Another notable achievement in the history of this classic high-end luxury car was in 1932 when the Duesenberg SJ model was launched. A three hundred and twenty five supercharged horsepower engine that could achieve high speeds of close to one hundred and thirty five miles per hour powered this classic sports car. With this new sports car edition, the Duesenberg vehicle became a household name across America among the rich and famous. Some of the most prominent individuals of that era who are known to have owned or driven the Duesenberg SJ model include the Duke of Windsor and Clark Gable.

However, this success story of Duesenberg did not last beyond 1937. This is largely because production of this luxury car ceased when the business empire of their new owners was burst with the worldwide economic depression of 1930s. Currently, only 481 Duesenberg model J and SJ can still be traced with auction values of $2 million and beyond.

Explaining Car Insurance Policy And Its Premium

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A comprehensive car insurance policy is a must as driving may be fun but at the same time it involves high risk in case of any eventuality. Third party insurance is a statutory obligation in our country but you can choose your preferences from collision coverage, comprehensive coverage and personal injury protection However, you must go in for a car insurance policy that provides total protection to you, your vehicle, your co-passengers and third party liability as while driving you and your associates are also at risk.

How is car insurance premium calculated?

Car insurance premium is calculated on the type of insurance and other factors as explained below:

Types of car insurance: Third Party Liability, Own Damage, Personal accidental coverage. Depending upon the insurance type you opt, your premium would be determined.
Cubic Capacity of Engine: Engine size is one of the important factors in calculating the premium. The higher the cubic capacity if engine, the higher the premium.
Car Model/Type: The new car demands more premium. As the car ages, its value is depreciated and the premium decreases.
Registration place: The city in which vehicle is registered is considered while calculating the insurance premium. If your vehicle is registered in Delhi and you use it in Chennai, then also the premium would be calculated on the basis of your registered state. The premium is higher in the metros as they are more prone to vehicle theft and accidents.
No claim bonus: If you do not make any claim during one policy year then you can avail discount on your next premium. The discount starts from 20% and can be increased progressively upto 50% on the Own Damage premium and is not extended towards Liability premium.

No Claim Bonus is portable and you can get the benefit if you purchase a new car as it is provided to the insured and not the insured car. It is basically a reward for safe driving habits of the policy holder. It is applicable, even if you want to change your insurance provider. You need to show the NCB proof from your previous vendor and can avail NCB discounts from your new provider.

The factors discussed above are the major factors that determine the insurance premium. However, apart from that there may be several other factors such as age and profession of the policy holder and the safety devices installed in the car that are used in calculating the car premiums.

car insurance benefits

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Car insurance claim covers the repair or replacement of a car damaged in an accident and shoulders the cost of any claims for injury or property damage filed by third parties. A major benefit of having car insurance is to provide an economic safety for people. In a society in which most people live paycheck to paycheck, there isn’t much waggle room for emergency situations that cost a lot of money. Unluckily, car accidents are the kind of emergency situations that can easily use up a bank account. Even in a minor one with no injuries, the cost of paying for another person’s car and your own can run into the thousands. For this reason, it’s better to pay a monthly premiums that is known and within your budget than to pay nothing and lose everything.

Many individuals are still driving a car without insurance, even though it is required in most states. If you drive with uninsured motorist insurance, and are involved in an accident where the other driver is feint at fault, the damages to your car and any medical treatment will be covered according to your requirements, yet if the other party does not have money to pay. Mainly collision insurance covers the property and physical injury of the driver. The benefit of driving with insurance is the protection of the driver’s personal possessions.

By directly approaching insurance company can also save you money on your car insurance quote. This is because you can avoid the insurance broker and his charges. When the independent insurance broker is avoided, the insurance company does not have to charge you that little bit extra to cover the commission the brokerage. However, insurance brokers do have their uses, for example, they avoid a lot of the leg work that you would otherwise have to undertake to get car insurance quotes and then compare car insurance with many insurance agencies. We can get car insurance quotes in online easily. Instead of going to the insurance company and asking for a quote, you can generally ask for the car insurance quotes online from the company’s website. Another option is to go to a virtual broker site and get a number of quotes from different insurance agencies. Getting a car insurance quote this way saves you a chance in travel expenses, travel time and the frustration of having to deal with the insurance companies on their home territory. Nowadays, to choosing a cheap car insurance involved a lot of research and visits to each insurance company for a car insurance quote. Now all can be done through brokers and over the phone. The documents can be received by fax, email or by courier.

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Exotic Car Insurance In Texas

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In Texas, road vehicles are required to be insured by state law to certain liability minimums. For exotic car owners, many times the minimum required liability insurance is insufficient coverage for their exotic vehicle. Exotic car insurance is geared towards the unique coverage that many exotic car owners seek, and independent insurance agencies in Houston can write exotic car insurance unique to any exotic car.

Exotic cars can be nearly any type of car, however exotic cars are generally thought of as luxury cars or sports cars from foreign companies. Exotic cars are generally fairly expensive, which means the owners of the exotic car need extra exotic car insurance to provide adequate coverage. In addition, most exotic car owners will want exotic car insurance that will cover more than just the mandated state minimum liability coverage, because the investment in an exotic car can sometimes be fairly significant. Exotic car insurance policies have much of the same coverage available as a standard auto insurance policy, such as comprehensive and collision insurance. Comprehensive exotic car insurance coverage typically covers any damage not caused by a collision, including damage from weather, vandalism, fire, and other causes. Collision exotic car insurance coverage covers damage from a collision, whether the exotic car owner or the other party is at fault.

Exotic car insurance can have maintenance clauses that also take the place of an exotic car warranty that has expired, or as in the case of some classic cars, the exotic car warranty is not available, making exotic car insurance with parts and labor coverage an attractive substituted for an exotic car warranty. Unlike a typical vehicle, the value of exotic cars is sometimes subject to opinion. Many exotic car insurance policies also must take this variable value into account, and the exotic car owner and insurance agency in Houston can agree on a value of the car. Also, since exotic cars tend to be driven less, the insurance agency in Houston can also write reduced use sections into the exotic car insurance.

Exotic car owners need specialized exotic car insurance to adequately protect their exotic car from many of the hazards on the road. Independent insurance agencies in Houston can take the time to create a unique exotic car insurance policy for any exotic car, whether it is a classic car, modern car, luxury car, or even a sports car. Independent insurance agencies in Houston can use their affiliation with multiple insurance providers to find the best exotic car insurance policy available.

New Pricing Technology Makes Car Insurance Cheaper

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Over the years, the technology used to calculate car insurance premiums has changed dramatically. Actuaries used to figure out premium levels by hand using books of statistical data. Later, adding machines and early computers ground through the numbers. More recently, online forms were invented which allowed you to get a quote online.

After all that time grinding things out, what most insurers and consumers wanted was speed. As a result, the current model for most traditional or mainline insurance companies in Australia consists of just a few questions. With these tiny points of data, a quote is generated based on aggregated consumer averages.

The result is a fast quote, but not a very accurate one. Most people dont notice that they are being treated as averages. They simply pay the quoted amount and pay rate increases even if they are accident free. However, you dont have to settle for this outdated and inaccurate system any more.

While most insurers havent gotten there yet, there are a few car insurance companies that have been pioneering a new way of calculating premiums. This new pricing methodology is based around creating highly detailed risk profiles of potential customers. This allows a calculation of premium that can truly separate high-risk from low risk customers.

There are several winning elements to this methodology. However, for consumers like you, the main benefit is often lower prices. If you are a good driver with a limited number of claims, you can really make home some substantial savings by switching to a company using this in-depth modelling framework to calculate rates for insurance cover.

It can feel a bit strange, especially after years of living with the old speed-is-everything system. Thats not to imply that this method isnt fast, mind you. It simply asks several additional questions about parking locations, length of commute to work, and so on.

As one of the early adopters, you stand to benefit the most. While your friends potter along with outdated insurance policies with off-the-rack premiums, you can have a custom tailored premium that only charges for the real risk you face as a driver and customer. Youll be able to quit subsidizing the behaviours of others through blanket premiums, and get to enjoy the fruits of your own careful behaviour on the road.

This is especially true if you really arent an “average” driver. If you only drive a few days a week, work from home and dont use your car regularly, or are retired and dont drive long distances, you have a dramatically different risk profile than most Australians. Yet you have been paying “average” rates for years, since the old method never inquired about your true habits.

Even if youre not a fan of the new and different, this is a new technology youll want to embrace. The new technology behind this quoting system isnt all flash and sparkle. It truly represents a way to make insurance premiums cheaper for you through more accurate pricing of your insurance cover based on your real risk profile.