Stamford Car Insurance
Stamford is a safe well-educated community with really good public transit.
Although the original public transportation system was designed to transport people from Stamford into New York City for work, many people now live in the big apple and commute to Stamford from the city.
Stamford boasts a very large financial district as well as being home to one of the largest concentrations of corporations in the U.S. Public transportation aside; there is still a need for almost all residents to maintain the privileges and freedoms that belong to licensed drivers.
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Although Stamford is not in the highest priced club for car insurance rates, it is certainly not low-priced when it comes to car insurance. Licensed drivers in Stamford benefit significantly by shopping and comparing car insurance rates on a regular schedule.
Licensed drivers in Stamford benefit significantly by shopping and comparing car insurance rates on a regular schedule.
To be licensed, all drivers must carry minimum liability coverage.
Minimum insurance required to drive in Stamford consists of:
• $20,000.00 of liability coverage per person and $40,000.00 per accident for bodily injury.
• $10,000.00 of property damage liability coverage.
• $20,000.00 per person and $40,000.00 per accident for bodily injury caused by uninsured and underinsured motorist.
Liability coverage for bodily injury covers others hurt in an accident where the insured is at-fault. It does not cover any bodily injury of the insured.
Property damage liability pays for damages to property belonging to the damaged party including vehicles, fences, and equipment. It does not cover damage to the insured’s vehicle.
Real Licensed Drivers of Stamford
Nick, age 32, drives a 2012 Honda Accord and his wife Amber, who is 33, drives a 2014 Chevy Traverse.
Nick and Amber have professional-level jobs and two very young children. Although their jobs are based in Stamford, they have to go into New York City on a regular basis for work, sometimes driving and other times taking the train.
Amber received a moving violation for failure to stop at a four-way stop in May 2013, otherwise their driving records have no blemishes.
When they purchased the Traverse last year, they also shopped for the best prices for car insurance. In the beginning of their research, they wanted a premium level of coverage based on the advice of family members because they also own a home and they want their equity protected in the event of a lawsuit.
Premium level coverage includes the following protections and benefits:
• $250,000.00 per person and $500,000.00 per accident for bodily injury.
• $100,000.00 for property damage.
• $250,000.00 per person and $500,000.00 per accident for bodily injury caused by uninsured or underinsured motorist.
• $100,000.00 for property damage caused by uninsured or underinsured motorist.
• $75.00 towing allowance
• $900.00 rental car allowance.
• Full glass coverage.
Premium level requires a $250.00 deductible payment.
Nick and Amber can get a premium level coverage from these companies at the monthly payments listed below for Stamford:
1. State Farm - $325.00
2. Amica - $365.00
3. Allstate - $377.00
4. Progressive - $381.00
5. GEICO - $439.00
6. Travelers - $488.00
7. Liberty Mutual - $632.00
The monthly prices for premium level insurance will really strain their family budget. Extended level insurance is more affordable.
Extended level includes these listed protections and benefits:
• $100,000.00 per person and $300,000.00 per accident for bodily injury.
• $50,000.00 for property damage.
• $100,000.00 per person and $300,000.00 per accident for bodily injury caused by uninsured or underinsured motorist.
• $50,000.00 for property damage caused by uninsured or underinsured motorist.
$75.00 towing allowance.
• $600.00 rental car allowance.
Extended level protection requires a $500.00 deductible payment.
The price difference in monthly payments for extended level coverage in Stamford is significant for Amber and Nick.
1. Amica - $231.00
2. State Farm - $268.00
3. GEICO - $304.00
4. Allstate - $309.00
5. Progressive - $317.00
6. Travelers - $391.00
7. Liberty Mutual - $423.00
Amber’s mother, Diane has been staying with Nick and Amber for two months.
Diane is 60 years old and single. The recession hit Diane hard and she has not been able to find a job that will pay her enough to support herself in her own home.
Nick and Diane get along well and Amber loves having her Mom around. Nick and Amber are the parents of an infant and a 3-year-old child. For this family, sharing the home with Granny is a great solution. The family agrees to live together permanently.
Diane must register her car as a Stamford Connecticut resident and qualify for a Connecticut driver’s license. She owns a 2005 Toyota Avalon and regrettably has very little money to pay for car insurance.
Minimum car insurance to fulfill the legal requirement doesn’t do anything to protect Diane’s only remaining asset and it is a significant expense for Diane who does not have a job.
They briefly consider transferring the Toyota’s title to Nick and Amber and add the vehicle to their insurance.
Since Diane has not had a traffic citation or accident in many years, she would lose the financial benefit of a perfect driving record and Nick and Amber’s insurance would increase more than the cost of a separate insurance policy for Diane.
They also take into account the money they are saving on child care, thanks to Diane.
Minimum legal coverage for Diane in order to be a legal driver in Stamford is available for the following monthly payments:
1. Liberty Mutual - $58.00
2. State Farm - $59.00
3. Progressive - $66
4. GEICO - $71.00
5. Allstate - $73.00
6. Amica - $76.00
7. Travelers -$87.00
Nick and Amber appreciate how much Diane’s presence has improved their lives and Diane mother needs help, at least for now, with her car insurance.
Everyone wants Diane’s car to be protected as well as Diane being legally licensed to drive. Upgrading from minimum legal liability basic level protection would give Diane the coverage as listed below:
• $50,000.00 per person and $100,000.00 per accident for bodily injury.
• $25,000.00 for property damage.
• $50,000.00 per person and $100,000.00 per accident for bodily injury caused by uninsured or under insured motorist.
• $50.00 towing allowance.
Basic level coverage requires a $500.00 deductible payment.
Diane’s research finds a range of monthly payments for basic level coverage in Stamford.
1. State Farm - $114.00
2. Progressive - $124.00
3. Amica - $136.00
4. Nationwide - $136.00
5. GEICO - $138.00
6. Allstate - $157.00
7. Liberty Mutual - $171.00
8. Travelers - $178.00
Tim and Georgeanne are 54 and 52 years of age. They have teenage sons who are twins and will turn 16 in a few months.
Tim and Georgeanne know that driving privileges for their boys are going to be expensive, but the boys are active in school activities and require frequent transportation which Tim and Georgeanne are unable to provide with their job demands.
Tim is a financial consultant with a large corporation and Georgeanne is a corporate level attorney. Tim drives a 2013 Lexus; Georgeanne’s vehicle is a 2012 Ford Flex. They also have a 2005 Volvo sedan which the boys will share, assuming they pass their driver’s tests.
Last May, Tim received a speeding ticket which was reduced to 5 miles per hour over the posted speed limit.
At a premium level of coverage, car insurance for this couple is available for the following monthly payments for the three cars and two drivers:
1. State Farm - $476
2. Allstate - $497.00
3. Progressive - $507.00
4. Amica - $522.00
5. Nationwide - $549.00
6. GEICO - $553.00
7. Travelers - $675.00
8. Liberty Mutual - $911
When the boys pass their driver’s tests, in order to get their driver’s licenses, they will have to show proof of insurance. Adding them to the family car insurance will reduce this family’s choice of providers as well as making their car insurance monthly payment go through the roof.
Fortunately, it was not unexpected.
1. Allstate - $1,311.00
2. Progressive - $1,439.00
3. Travelers - $1,970.00
4. GEICO - $2,069.00
5. Liberty Mutual - $2,525.00
Once the boys have at least one year of driving experience, car insurance payments will begin to drop.
On their 17th birthday, or their one year anniversary of becoming licensed drivers, these monthly payments will be available assuming they show themselves to be safe drivers:
1. Allstate - $1,201.00
2. Progressive - $1,439.00
3. GEICO - $1,460.00
4. Travelers - $1,709.00
5. Liberty Mutual - $2,432.00
For the average driver, car insurance qualifications and needs are very fluid. Driving records, age changes, vehicle upgrades and asset acquisition or loss will affect the prices, availability and individual requirements of car insurance.
Although many consumers prefer to remain loyal to certain providers, most are finding loyalty to an insurance company to be very expensive when it comes to insuring their vehicles.