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Home » Auto And Trucks Articles » Answers To 5 Common Questions About Buying Online Auto Insurance

Answers to 5 Common Questions about Buying Online Auto Insurance

While virtually everyone would agree that driving an uninsured car or driving as an uninsured motorist is both illegal and unwise, not everyone realizes that they may be paying more for auto insurance than is necessary. Indeed, many people keep renewing with the same auto insurance carrier year after year, even though they might be eligible for lower rates with another company. That's because most motorists assume that finding a lower rate means spending the day on the phone, calling company after company and being subjected to sales pitch after sales pitch. Thankfully, that assumption is wrong.

Just as the Internet has transformed so many of our life activities, like shopping, finding information, and socializing, the Web has transformed the ways we can get auto insurance quotes. In fact, obtaining online auto insurance quotes has several distinct advantages. Nonetheless, many people have questions about the process. Here are answers to five common questions about buying online auto insurance.

1. What's the main benefit of getting online auto insurance quotes?

When you use an online auto insurance quote site, you bypass the hassle of calling individual insurance companies to get the best rate. Instead, you submit your information once, and receive quotes from up to 15 different insurance companies.

2. What kind of personal information do I have to provide?

While various sites have different guidelines, the amount of personal information you provide is often up to you. However, the specificity of the quotes is in large part determined by the information you offer. To get the most accurate online auto insurance quotes, you'll need to provide your home address, date of birth, how long you've lived at your current address, information about your vehicles, driver information, and information about accidents or citations.

3. What factors influence the rates that I am quoted?

Your rates are based on a number of factors, including your driving record, your age, and where your vehicle is kept. Some companies also provide discounts if, for example, you have automatic seat belts or airbags, an anti-theft device, a good driving record, or multiple policies with the same carrier. Rates are also determined by the kind of insurance policy you want and the deductible you choose.

4. Do I have to buy car insurance online once I receive quotes?

A reputable online auto insurance comparison site will provide quotes free of charge and not require you to purchase insurance. If you do need immediate coverage, however, choose a site that is owned by an insurance broker who can also help you buy insurance and who can provide you with virtually instant proof of insurance.

5. Will I start getting sales calls or spam if I get quotes online?

Again, it depends upon the site. A reputable online auto insurance broker will respect your privacy and have a privacy policy prominently placed on his or her website. The privacy policy should explain how your email address and contact information will be used by the broker and his or her affiliates.

And here is another random article you might be interested in...

Earnings From Abroad and Taxes

With the every expanding global economy, many people receive earnings from foreign entities. Unfortunately, the federal government wants you to pay taxes on it.

Taxes on Your Earnings From Abroad

The federal government has a very simple attitude towards taxes and earnings. If you have earnings, the feds want some of it. A number of countries, however, take the attitude that if you earn money in another country, they will not tax that money. In theory, this is because you are already paying taxes in the foreign country. This makes sense from a logical perspective, which means the federal government does something else.

Regardless of what you do, how you do it or where you do it, the federal government demands that all U.S. citizens pay taxes on their worldwide income. Your income includes everything from wages, tips, interest payments, dividends, capital gains, pensions, royalties, rents and revenues. Put another way, there are no loophole exceptions regarding what qualifies as income.

It is important to understand that you do not get to avoid reporting and paying taxes on foreign income or revenues just because you aren't issued a 1099 or W-2 form. You still have to report it and pay.

Now, more than a few people will be tempted to...forget...they receive foreign funds during the year. There are a few problems with these memory lapses. First, the IRS could take a look at your bank account and realize there is a difference between what you reported and deposited. Second, rivals and ex-spouses have a bad habit of reporting such memory losses to the IRS. If the IRS ultimately finds out you've failed to report foreign income, you could be facing tax evasion charges. Tax evasion is a criminal charge carrying prison terms and massive penalties.

There is one key exception to the above scenario. If you live outside of the United States and earn income, you may be able to take up to an $80,000 deduction. Put another way, you will not be taxed on your first $80,000 of earnings if you are living in Japan and working for Sony. You have to meet a number of strict and somewhat complex requirements to take advantage of this deduction. Boiled down to the basic elements, you essentially have to remain outside of the United States for the taxable year.

It can be tempting to forget to report your foreign earnings and revenues. The IRS is aware of this, so taking some memory improvement supplements is highly recommended.