Clark gave out some bum info back in the winter that he'd like to update. At that time, he'd read a report that suggested auto rates would rise. Why? Insurers were supposedly through fighting for market share via low prices and needed to focus on profits again by raising their rates. But the truth is that attempts to raise rates have failed. The Personal Journal reports that insurers continue to sacrifice profit and rates may go down further.

It pays to comparison shop when you're ready to renew your coverage. Take out your declaration page and get several quotes for the identical coverage you already have. You may save hundreds of dollars a year. Always check the shareholder-owned Amica Mutual, but beware they won't write a policy for you if you have a lead foot. Current and recently retired military members should also shop USAA. This insurer has been called the best customer service organization in any industry by Business Week. That's high praise!

The Wall Street Journal's Personal Journal reports that a number of auto insurers are writing policies for brand-new teenage drivers for the first time in memory. Clark is stunned that Safeco, Nationwide, American Family and Fireman's Fund are among those doing this around the country -- with some conditions. In addition to requiring safety courses, some insurers want parents to install a camera in their teen's car. DriveCam.com offers one such device that can be monitored remotely.

This is not just about money. The No. 1 cause of death among teenagers is auto accidents. We as parents fear the impact that drugs and alcohol can have on our children's lives, but the thing that's most dangerous is the road. Several states have begun doing graduated licenses for teens. Clark recently told you that such plans have helped cut back on teen fatalities behind the wheel. As a parent, it may seem creepy to go the camera route. But Clark thinks it's reasonable. Other insurers make teens log their driving and turn in the logs.

A teen's newfound mobility does not mean they have good judgment. Clark's 19 year old recently told him that she thought she was invincible at 15. But she's changed her mind after being through 2 auto accidents where the vehicle was totaled. Thankfully she was not hurt either time.

Several weeks ago, Clark told you that his wife was in an auto accident. While everyone involved was fine, he promised to report back about the challenges he was having with the other party's insurance company. They didn't want to pay and kept pushing Clark to file a claim with his own insurer -- a process known as subrogation. The problem with subrogation is that 2 insurers can cut a deal, leaving each driver with an at-fault accident on their driving record. In this case, there was no question that the other driver was the one who hit Clark's wife.

While the insurance struggles were going on, Clark and his wife were able to use a spare vehicle they have to get around. The insurers like to play a waiting game because they know that not everyone has more than one vehicle. So most people eventually roll over and just go the subrogation route. Clark was able to instead become politely persistent. He got on a first-name basis with the investigator and called every single day. On the 8th day, the other person's insurer agreed to pay for damage to his wife's car.

The game is to continually stall in the hopes that you'll eventually go to your own insurance company. Clark's just glad he didn't have to file suit in a small claims court against the other driver. But had he done so, their insurance company would probably have capitulated when they were faced with the expenses of a court date. In the end, you are your own best advocate.

After years of declining or staying the same, auto insurance rates are now headed in the other direction. Allstate and Progressive are both raising premiums aggressively in 20 states, according to Bloomberg. There are a few factors contributing to this reversal. First, the availability of Internet insurance quotes sparked a battle for market share that has exhausted many of the insurers. Now their focus has turned from stealing customers to making more money for their own stockholders through higher premiums. Meanwhile, The Wall Street Journal reports that insurers are suffering more losses in collisions as people buy cars with greater horsepower. More horses under the hood increases the level of accidents as people drive more aggressively and speed. The conventional wisdom about calling your insurer to find out what it will cost to insure a car before you buy is again great advice. Plus, it's even more important now than ever to shop insurance rates.

Clark’s 18 year old daughter had an auto accident after six weeks of having her license, totaling both cars and causing minor injuries. The reality brought home the enormous danger of teenagers behind the wheel of a car. Roughly 20 teenagers die in auto accidents every single day. Safeco insurance has launched a new program for parents of teens called TeenSurance. It allows parents to continuously spy on the kid’s driving habits – tracking how fast they drive, if they’re out past curfew, and where they drive. And while teens will say they want their freedom, most teens actually like and respect boundaries, and like having them in their lives. The Safeco deal is $25 a month. And, for the parent of a teen, it’s totally worth it in Clark’s opinion.

A market share war is now raging in the auto insurance world. Auto insurers and homeowner’s insurers go through cycles whereby they are either trying to make more money or gain more customers. Right now, companies are lowering costs because they’re trying to get more customers. Progressive Insurance, for example, is cutting rates and other insurers are being forced to reduce their costs to compete. In other words, it’s a great time to shop around for insurance. Prices differ based on the company and on you as a demographic. For instance, your age, gender and driving record all weigh in as well. Another change in the industry involves “concierge services,” whereby companies handle the repair and everything else at their own shop. Progressive, Travelers and Geico all offer a “one-stop-shop” for repairs and service. They also put you in a rental car, and work out the cost. The only downside could be cutting corners on the repair, reports state. So, check out the repair job thoroughly and get exactly what you deserve.

Clark reads many newspapers each day, and he’s seen a pattern in stories over the past few weeks. First of all, auto insurance rates are going down at many companies. For example, State Farm, the country’s largest insurer is cutting rates by up to 23 percent in some states. Safeco is cutting rates by 20 percent and Farmer’s is knocking 15 percent off its rates. In addition, homeowner’s insurance rates are dropping, too. Insurance companies are moving into what’s called a “market share” cycle, when consumers benefit from insurance companies competing with each other. At the same time, teens are getting involved in fewer accidents because states have enacted graduated license laws. So, there will be much better opportunities to save on auto and homeowner’s insurance, so shop around!

AllState is one of the largest insurers in the country, but the company has been losing market share to some of the other big companies. AllState also ranked slightly below average in customer service, according to a recent J.D. Power study. Surprisingly though, the company plans to raise rates on customers. Most companies are reducing rates these days, due mostly to fewer accidents. Cars and roads are much safer, so claims have gone down. But AllState is doing the opposite. If you’re thrilled with your AllState agent and the service you’ve gotten, you may want to stick with the company. But if your experience has been mediocre, start comparing other insurers about three or four weeks before your renewal date. Insurers use very different methods to establish rates, so you could find a vast difference in cost from one to the next. So, who would Clark recommend? J.D. Power announced its rankings and USAA is No. 1. The company is off the charts in terms of customer satisfaction. The problem is that USAA is only available to military personnel, their dependents and some reservists. No. 2 was Amica Mutual, which is open to a lot more people. The only caveat with Amica is that they’re looking for people who are conservative drivers with conservative cars. They don’t like people who have had accidents and they don’t like fast or fancy cars. So, consider those before you renew!

Insurance is one thing Clark doesn’t skimp on, and he doesn’t want you to either. You want your life insured with a financially solid company that will be around down the road when your family may need it. With life insurance, quality means financially strong. When it comes to car and home insurance, quality means that the company is there for you and does a good job. J.D. Power & Associates and Consumer Reports recently rated auto insurers, and both found two companies that are far better than any other company. There are good companies out there, but these two blow everyone away every year. They are USAA and Amica Mutual. USAA is only available to military personnel, their dependents and recent retirees. But Amica is open to everyone. You must qualify as a solid customer and you must have a good driving record. It’s tough to get in. But once you’re in, you will be very happy. So, which company is the worst? According to J.D. Power, AIG was the worst insurer. It’s one of the world’s largest insurers, but apparently its customers are not very satisfied. Just above was GMAC, Mercury and Allied. Clark was surprised by one of the lower ranked companies – Progressive. The company is known as being very smart and changing the insurance industry for the better. But again, its customers aren’t getting the service they want, according to the survey.

Clark believes very strongly in the free market. And some news out today confirms how powerful the market really is. New Jersey has long had the most expensive auto insurance rates in the country. Politicians in New Jersey decided everything an auto insurer did, and rates were sky high. Well, the state got wise to the free market frenzy a few years ago and insurers started coming back to the state. In addition, 75 percent of drivers are paying less than they were before the switch. And according to the New York Times, the average savings is about 30 percent from three years ago. Government should play a role in making sure insurance companies do their jobs. But, in terms of pricing, the market should reign supreme.

Clark has talked in the past about an auto experiment in England, whereby people are charged an insurance premium based on the number of miles they drive. The device tracks everything from speed to the type of conditions in which you’re driving as well. It’s become such a huge success that the insurer in the English experiment has had to order many more spy devices for cars. Now, 40,000 people are driving with these devices in England and more people want them. It’s spread to Japan, too. So what about the States? Well, 27 states here have laws on the books saying it’s possible to charge people based on miles. But no one has put it into practice. Clark loves the idea and hopes it takes off. Now, this wouldn’t work for people who drive a lot of miles. But it would be great for people who don’t drive a lot, like Clark.

More people are shopping for auto insurance online than ever before, and Clark couldn’t be happier. Traditionally, people make one call to one company because our family uses that company or we heard an ad we like. But the advent of the Internet is forcing people to shop around for insurance, with an increase of about 30 percent in the past year. It’s much easier to shop online for insurance. The average time to get a quote from Progressive, for example, is about 8 minutes. You just have to make sure you’re checking several companies. The difference in price from one insurer to another is huge. You could save more than $1,000 a year if you’re paying a high premium. Comparison shopping starting to make a huge difference and you should shop around often. Another option to consider is an independent agent. They can shop any company out there for you and get you a great deal. Just remember that those agents will sometimes charge a little more for themselves if they’re searching for you. So be sure to tell those agents that you’re searching for the cheapest prices and that includes commission.

The National Highway Traffic Safety Administration is supposed to publish regular safety bulletins and establish safety guidelines regarding cars. But the organization doesn’t want to upset the automakers. On the other hand, the insurance industry wants you to buy safe vehicles because it saves them money. As a result, the industry has created a non-profit group called the Insurance Institute for Highway Safety, which does comprehensive testing on cars and how they will do in accidents. There are gold and silver level awards given to cars that perform the best. In the large car category, the Ford 500 and the Mercury Montego got a gold award. The Audi A6 got the silver award. In midsized cars - the largest part of the market - the Saab 93 and the Subaru Legacy. The Audi A-3, A-4, the Chevy Malibu (if you get side air bags), the Volkswagen Jetta and Passat. In the small car category, only one car won the gold award. It was the Honda Civic 4-door. Not a single mini-van won an award, nor did any Volvo vehicles, which were once thought of as the safest cars on the market.

Why do we buy insurance? We buy it to protect ourselves from a loss at a later date. But what happens if our insurance company doesn’t want to pay? The car insurance company, AIG, is in huge trouble right now for allegedly not paying on policy claims. The company writes policy claims for individuals and businesses. For a while, the company also sold car warranties. According to the Washington Post, the company reportedly rejected about half of the complaints it received. The company would also delay payments in the hopes that people would never receive or have to wait a long time for their money. For instance, the company sent checks to people via second class instead of first class. AIG also claimed people needed to rewrite reports several times to delay the process of the claims. So, if the Washington Post is right, and you are an AIG customer you must document everything and be prepared to fight this one out. If you sense delay, contact your state insurance department, which regulates insurance companies. Also, make sure you’re keeping up with the maintenance on your car so the company has no way of blaming you.

The latest trend in the insurance business is to offer lower premiums for auto insurance in exchange for letting an insurer spy on you. Insurers install a device in your car known as an automotive black box. It records information about an accident and is used to determine what happened in car crashes. In addition, it records how you drive and where you drive. And your insurance rates move up or down, depending on how you drive. According to Progressive Insurance, the boxes are currently recording how fast you drive and what time of day you drive. About 4,800 people have offered to have these spies in their car in order to get cheaper insurance. They’re saving about 12 percent on average, which doesn’t seem like much to Clark. But he would love to sign up! If he’s driving badly, he’d like to know it. And he wouldn’t mind getting a discount on his insurance in the process. Progressive hopes they’ll be able to do this nationwide eventually. And Clark is all for it, as long as it’s voluntary.

The Insurance Institute of Highway Safety conducted a survey into the fatality rate of most cars on the roads today. The survey revealed which makes and models are the most dangerous. The statistics have people in the auto industry up in arms because it called certain cars out on the carpet. They protested that the fatalities are due in part to the driver. So, what does the IIHS say? The tie for the most dangerous cars goes to tiny, 2-door sporty cars and pick-up trucks. Four-door small cars were not nearly as unsafe. And the safest cars were mid-sized sedans and mini-vans. Well, typical minivan drivers also drive SUVs, which are considered unsafe. So, how do you reconcile that? It’s partly related to the design of the car. SUVs have high centers of gravity, which can mean the car is more prone to tip or roll, especially if the driver is not experienced. So get your kids out of those SUVs and into something they can handle. Look at the stats at iihs.org

Auto insurance rates are going down! Why? Well, an aging population, more careful drivers and better built cars are all part of the reason. So, there are several behavioral and design things going on, but there has also been a reduction in the number of auto fraud and theft. As a result, insurance companies are paying about 61 cents on every dollar in premiums coming in, according to news wires. The year before it was 86 cents, and up until that point companies were paying more than a dollar per dollar. Auto insurance companies are now flush with cash and they are asking for rate cuts for their customers. So, it’s a good thing all over for consumers. Still, all insurers are not create equal, and you need to shop around for coverage. The difference can be as much as $1,000 to $1,200 depending on the company.

Shopping for auto insurance can save tons of money, but people aren’t likely to do it because it’s boring and tedious. Consumer CheckBook, a consumer magazine and group, shopped for auto insurance for various demographics in different areas of the country. On average, the most expensive driver cost 400 percent more than the cheapest driver. How could the price differences for the same exact coverage be so extreme? There are a few reasons. People don’t shop around, so insurers know they can jack up the prices and you’ll never check. Another reason is that insurers take different factors more seriously than others do. Credit score, for instance, may be huge with one insurer and not a factor at all with another. So, please shop around. Geiko and Progressive have been pushing people to compare, and they have steadily taken marketshare. Calling an independent agent can also check rates for you. But always start by checking the three best companies: Amica Mutual, USAA and Cincinnati Insurance. You may qualify for one of them. Even if you have to pay a little more, stick with one of these three. It’s worth it. After that, compare everyone else.

There are some things going on in the auto insurance business that could mean big dollars for you. After years of losing money, several auto insurers are reporting record profits. The industry has bumped up rates over the past five years, so auto insurers are now solidly in the black. Also, the insurance industry is very cyclical. We’re coming into a time when insurers need more customers so they’re cutting costs. In addition, insurance companies such as Progressive have started data mining with customers so the information on each is much more specific. Because of such specific information, price quotes from insurers vary by massive amounts. So, you want to get quotes from lots of different companies and sites. Insweb.com and insurance.com are a couple good sites. You want to get quotes from at least 10 companies before you decide, though. You can save a bundle if you just put a little time into it!

Clark has talked for several years about the tremendous advantage of getting pre-approved for your car loan from a credit union. They offer deals that are substantially better than what you’ll get from a bank. You will probably get rates of about 1.5 percent lower at a credit union. That’s because credit unions are co-ops, meaning the account holders own them. Online banks also offer great rates on car loans. And there is now a third option for you if you’re shopping for insurance – warehouse clubs. Both Sam’s Club and Costco Wholesale now write car loans at great rates. Sam’s Club is offering 5-year car loans for 3.75 percent. Costco is offering 3.5 percent for executive members and 3.6 percent for other members. Those rates are fantastic! Now, if the car dealership is offering you a lower rate, by all means get it from them. And sometimes insurers, such as USAA, offer competitive car loans. So, check out all of your sources. The other trick of the trade is to refinance an existing car loan that has a really high rate. Costco’s refi rate is offering 4.5 percent for a car older than three years and 4.1 for cars that are newer than that. The one thing you should NEVER do is to walk into a car dealership without having arranged your financing in advance. You have no idea what can happen to you on the spread because dealers mark-up loans whenever they can. If you have your money in advance, you don’t have to worry about getting taken.