How Many Cars Can Be Insured on the Same Policy?

Is there a limit to the number of cars that can be insured under the same policy? How many vehicles can you cover under one policy? Today, we’re answering all your questions about multi-car insurance policies – including how to save money on a multi-car insurance policy.

Multi-Car Insurance Is an Easy Way to Save Money

If you live in a household with multiple vehicles, then it’s in your best interest to insure your cars under one policy (unless, of course, your spouse has a DUI or some other major incident that would cause insurance rates to rise).

That’s why multi-vehicle insurance policies exist. Multi-car insurance policies are built for households with two or more passenger vehicles. These vehicles are covered under a single policy. You pay less than you would if you insured each car individually, and you save even more money by bundling vehicle insurance with your home insurance or life insurance.

The benefits of a multi-car insurance policy are obvious. However, there are certain requirements to qualify for a multi-car insurance policy.

Requirements for a Multi-Car Policy

There’s one obvious requirement for qualifying for a multi-car insurance policy: you need to insure two or more passenger vehicles on the same car insurance policy.

To do that, you’ll need all of the usual information – like the VIN and lienholder information (if applicable) for any vehicles, as well as the driver’s license numbers for all drivers. The information required for a multi-car policy is no different from a single-car policy, aside from the fact that you’re listing multiple vehicles.

Is There a Limit to the Number of Vehicles Under One Policy?

Insurance companies almost always have a limit to the number of cars you can cover under a single insurance policy.

Typically, insurers allow you to cover a maximum of four of five vehicles under a single policy.

Other Restrictions with Multi-Car Insurance Policies

There are certain other restrictions you may need to know about with multi-car insurance policies. Some companies offer a discount only if the insured cars are in the same household and insured by related parties. If you’re living with unrelated roommates, for example, then you may not qualify for a multi-car insurance policy.

Other insurers, however, only require everyone to live at the same address, and they don’t care whether or not you’re related.

Another important thing to note is that you could qualify for a multi-car insurance discount in the middle of your term. Some people instinctively wait for the end of their term to add a new vehicle, when they could be taking advantage of the discount immediately.

Does the Coverage for Each Vehicle Need to Be Identical?

This is where things get a little tricky. Typically, insurance companies require all vehicles under a multi-vehicle policy to have the same amount of liability insurance and uninsured motorist coverage. This is done to ensure there’s no confusion regarding how much liability coverage each vehicle has.

In other words, if you have a liability limit of 100/300/50 on your first vehicle, then you need to have those same limits on your second vehicle.

This isn’t just your insurance company being nitpicky: state laws often require liability limits to be the same for all vehicles under a single policy.

Policyholders, however, are free to adjust collision coverage and comprehensive coverage between vehicles. You might want full coverage on your brand new SUV, for example, while getting rid of collision and comprehensive coverage on your 10+-year-old vehicle.

You can also add, remove, or adjust add-ons however you like – including things like rental car reimbursement or custom car coverage. You’re totally free to add this to certain vehicles under your policy but not others.

There’s one important thing to remember with all this: the insurance company insures your vehicle, not the driver. If your primary vehicle has full coverage, but your secondary vehicle has no collision or comprehensive coverage, then that doesn’t change when someone else drives it.

You Can’t Insure Cars and Motorcycles Under the Same Policy

The only other restriction you need to know about is that motorcycles and cars cannot be covered under the same multi-car insurance policy.  Motorcycles require a motorcycle policy – not an auto policy. However, you may still be eligible for a discount by ordering through the same insurer for both policies.

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2018 Ford Edge Vignale: On the Edge of Pretension18


The globalized nature of the auto industry creates plenty of anomalies. This Canada-built, diesel-engined luxury Ford Edge aimed at the European market is one of the more interesting ones. Consider the Edge Vignale to be a visitor from a parallel dimension—or an insight into what Uncle Henry thinks buyers on the other side of the Atlantic want. Barring only the GT supercar, it’s the most expensive Ford product on sale in Europe, pricier even than a V-8–powered Mustang and all but the hugest Transit vans.

Ford intends to produce Vignale variants of pretty much all of its European models, with these positioned above the existing hierarchy of trim levels and aimed—straight-facedly—at premium-brand rivals. These are to be sold using separate lounges at selected dealerships and with a complimentary concierge service similar to that of Lincoln’s U.S.-market Black Label system. Yet, while the Kuga (a.k.a. Escape) Vignale feels distinctly out of its depth—indeed, it made us feel an increased regard for the Lincoln MKC—the classier Edge fares much better in this luxurification process.

Much of this is down to its generous standard equipment. European Fords normally are short on features, but the Vignale has upgraded navigation, LED headlights, 20-inch chrome wheels, and power-adjustable leather seats as standard. It also comes with the enhanced instrument cluster, featuring larger digital display areas integrated into the speedometer and tachometer. Adding all these items to the less expensive, U.K.-market Edge Titanium would bring it close to the same price point.

Then there’s the leather. So much leather. The Edge Vignale gets a hide-trimmed dashtop and door panels to match its upholstery. It doesn’t quite reach Bentley levels of bovine lining, but it’s still unusual for a Ford-badged product. The plusher trim works far more harmoniously in the Edge than it does in the cheaper-feeling Kuga/Escape, thanks to the larger car’s higher quality base interior. It’s true that fingers don’t have to wander far to find some cheaper materials, and the widely distributed buttons for the various HVAC functions don’t feel as if they’re paying much rent, but the overall aura of quality is pretty effective. Space is as generous as always in the Edge, with the lack of a crammed-in third-row seat giving the Vignale an equally cavernous cargo hold as its U.S. sibling.

Trucklike Powerplant

At this point we should be telling you about the Vignale’s version of the EcoBoost turbocharged 2.7-liter V-6, the same engine that powers our range-topping Edge Sport and the equivalent Lincoln MKX. Sadly, we can’t, because while that muscular powerplant would suit the Vignale particularly well, Ford of Europe offers only four-cylinder diesel power. Specifically, the Edge Vignale relies on the venerable Duratorq 2.0-liter turbo-diesel that was originally co-developed with PSA—the French company that builds Peugeot, Citroën, and DS cars. While we often envy Europe’s sophisticated diesel engines, this isn’t one, being both old-fashioned and crudely coarse compared with better rivals. Two versions are offered in the Edge Vignale: a lesser 178-hp unit that is available only with a six-speed manual gearbox plus a 207-hp version that pairs with Ford’s PowerShift dual-clutch automatic transmission. Both versions have standard all-wheel drive; European Edges don’t have a front-drive option.

The car we drove was the more powerful iteration, which left us with no inclination to experience the lesser version beyond the considerable novelty that would be the experience of driving an Edge with a clutch pedal. The diesel engine strives for adequacy and very nearly delivers it, staying muted under gentle use but quickly starting to sound quite gravelly when stressed. Which, given the lack of urgency, tends to be most of the time. We didn’t extract any performance figures, but Ford’s claim of a 9.4-second zero-to-62-mph time gives a good idea of how leisurely the diesel Edge feels even with maximum accelerator-to-carpet contact. The gearbox has just six ratios but shifts among them cleanly at low speeds, getting more hesitant only when asked to make up its mind quickly. It does, however, change impressively rapidly when shifted manually.

The rest of the Vignale is mechanically identical to the standard Europe-market Edge, although both sit on a firmer suspension compared with the North American models. The ride is pliant and well-damped over rough surfaces, and the Vignale is quite refined at speed, thanks in part to an active noise-cancellation system. There’s a springy weight to the steering’s power assistance, but front-end responses are impressively accurate and the Edge feels wieldy when asked to tackle narrow European roads like those we drove it on in the French Alps. On the far side of the Atlantic, this is a sizable SUV, Ford offering neither the Flex nor the Explorer in Europe, let alone the Expedition.

You Get What You Pay Ford

While the Vignale proves that we shouldn’t be too despondent about the lack of a diesel engine in the American Edge, there’s still plenty to like about the rest of it—we could imagine some of its plush trim and chrome-heavy design creating a halfway model between the regular Edge and its gussied-up Lincoln MKX cousin. But in Europe, this über-Edge will likely wander the wilderness in search of a purpose—and customers. The most expensive model in any range isn’t normally the volume seller, but the Vignale’s price will reduce its appeal beyond a wealthy minority. Fully optioned and with the requisite value-added taxes, it will cost more than £45,000 in the U.K. and €52,000 in Germany—call it roughly $57,500 at current exchange rates. Suddenly, the $41,295 base price of our 315-hp Edge Sport is looking like a real bargain.

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Avoid Paying Unnecessary Car Expenses With An Auto Warranty

 

People love their cars. Cars become our babies and we are constantly washing and waxing them to keep them looking shiny and new. Some people love their cars so much they talk to them and give them an affectionate pat every so often. However, as much as we love our cars, we should not have to pay for unnecessary expenses. Here are some things that you may be wasting money on:

First off, it is not always necessary to buy premium gas instead of regular gas. You can purchase regular gas, which is cheaper, if it does not cause your engine to knock. The purpose octane serves is to prevent engine knocking. Therefore, if your car is not knocking when you use regular gas, it is fine to use.

Generally, car manufacturers suggest that you should get an oil change done every 5,000-7,500 miles. Many motorists think that oil changes need to be done every 3,000 miles. However, this is only absolutely necessary if you are very hard on your car.

In addition, people tend to waste money by getting repairs done by a dealer. Independent shops do a great job and for less money. Also, make certain that you have an auto warranty that can help you to save money on any unnecessary repair costs.

Being aware of where you waste money can help you to save some money. Do not let others convince you that certain car expenses are necessary.

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8 THINGS TO WATCH OUT FOR WHEN BUYING A USED CAR

 

BUYING A USED CAR

The used car market is a haven for various automotive gems! It is the perfect place where you can look for that odd box-type sedan that brings you back to your good old childhood days, or if you are lucky enough you can get a rare expensive classic that can now be worth millions away from its original price. Regardless of whatever meets your eye as you wander about in the used car center, used cars can become financial liabilities if you do not make it a point to check on them after making your purchase. Whether the vehicle is for you, your brand new teenage driver, your significant other, or a friend/family member, before you jump the gun on purchasing a used car, make it a point to watch out for these elements.

BODY AND GLASS

First impressions last – at least that is how you should think when you start evaluating your used car of choice. Issues such as cracks, dents, and uneven paint should play a significant part in the used car’s pricing, since those can be costly to repair. Moreover, those kinds of damage may indicate that the used car may have been involved in accidents of various degrees under its previous owner. That, of course, may point to further internal damage, so make sure to look at those problems with great circumspect when you think about your used car purchase.

INTERIOR, SEATS, AND ODOR

When canvassing for a used car, do not just look at the outside. In fact, it is even more important that you discern whether the used car you are looking at has an interior that is bearable enough for you to spend most of your time; think about all that time you spend sitting in traffic to and from work. Things like seat upholstery, seatbelts, and overall odor play a huge part in your driving experience with your used car, so make it a point not to neglect those things.

CONTROLS AND SOUND SYSTEM

Watch out for missing dials, malfunctioning light indicators, and damaged interfaces when looking for a used car. A typical secondhand vehicle should have controls that are still working properly, albeit with some parts of it already worn out. Also, make it a point to check the condition of the used car’s sound system. Muffled speakers and a faulty sound system interface may make for an unpleasant driving experience (think about having to sit in silence or forced to listen to an awful radio station during that traffic we already talked about), while faulty electrical wiring for both your controls and sounds may prove to be dangerous in the long run.

LIGHTS

Obviously, faulty exterior lights are a no-no for used cars, and fixing them can be quite a costly ordeal. With that, it is highly important that you check the conditions of the headlights, signal lights, and taillights of the used car you are eyeing first before purchasing it. Moreover, also make sure that your interior lights are also in good shape, so that you would not have to experience inconvenience in the event you need cabin lighting as you drive during nighttime.

TIRES AND SUSPENSION

A good used car has a properly-rotated and balanced set of tires and a suspension set that provides stability and safety, especially during long drives. With that, make sure that your used car of choice has good tires and suspension. Otherwise, you would certainly find yourself flirting with the possibility of encountering unwanted road accidents. You do not want to be that person on the side of the highway waiting for road assistance because your tire blew.

FLUIDS

Before purchasing a used car, make sure to check the condition of its fluids. Watch out for residues, burnt smell, or foamy particles on the dipstick – those typically refer to various problems your mechanic should work on right away. Normally though, engine oil is brownish or blackish in color and residue-free, while the transmission fluid appears pinkish.

RADIATOR

A used car should not have green particles sitting around on its radiator. Otherwise, it shows that leaks may have been made, and that a replacement may be necessary. As long as the radiator does not appear rusty or to have corrosion, then you are in good company.

ROOF

Checking the roof of your chosen used car is actually a no-brainer. Doing so allows you to see whether there is a possibility of water leakage inside the cabin, which you must prevent at all costs if you want a pleasant driving experience. At the same time, make sure to check if your sunroof is working properly, if you have one.

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NOW TRENDING: 48-VOLT ELECTRICAL SYSTEMS


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The auto industry is in the middle of a revolution, one where new and emerging technologies are steering the market. Such high-tech features are placing a tremendous burden on the typical vehicle’s 12-volt electrical systems and for this reason we’re seeing a new trend: cars equipped with 48-volt electrical systems. Not every new vehicle will feature such systems, but for those that do, there are strong benefits for manufacturers, consumers and the environment alike.

The Current Standard: 12-Volt Electrical Systems

Every vehicle’s electrical system is composed of a battery, starter and an alternator. Modern vehicles have 12-volt electrical systems, with the car battery serving as the center of that system.

Electricity flows out from the battery by means of the positive terminal through wires to power various components, including the starter. The starter stores a small amount of electricity to turn the engine, while the alternator helps keep the battery charged when the vehicle is running, by sending power back to the battery through the negative terminal.

Although 12-volt electrical systems have been the standard for decades, they’ve also been called upon to do more work in recent years, including powering water pumps and turbochargers, and to supply power to the computer, navigation and audio systems. As vehicles become more complex, manufacturers are exploring other options, including the 48-volt electrical systems.

Emerging Technology: 48-Volt Electrical Systems

There are two reasons why car manufacturers are planning for 48-volt electrical systems:

1) Such systems can handle more complex loads, including technologies related to autonomous vehicles.

2) Environmental benefits may be realized, through reduced emissions and improved fuel economy.

Suppliers such as Bosch, Continental, Delphi and Valeo are developing 48-volt electrical systems for manufacturers. These new systems will power such energy-intensive components as turbochargers, hybrid motors and stop-start motors, and supply electric power to the water pump, air conditioning, power steering and power brakes.

Does this spell the end of the 12-volt electrical system? No. In fact, future cars will likely run the two systems concurrently, with 12-volt systems powering the lights, center console, seats and windows, and 48-volt systems tasked with supplying energy for power-consuming components.

On the environmental side, 48-volt electrical systems will also allow manufacturers to transform some models into mild hybrids by replacing the starter with a 48-volt motor generator unit (MGU). Such vehicles would also gain a 48-volt lithium-ion battery pack and a DC-to-DC converter, creating the mild hybrid system.

A mild hybrid system utilizes both the gasoline engine and electric motor to power the car, with fuel savings of 15 to 20 percent possible. Like similar systems, mild hybrids offer another tangible environmental benefit: a reduction in emissions. In all, mild hybrids provide about two-thirds the benefit of traditional hybrids, but at just one-third the cost. Expect manufacturers to turn to such systems in an effort to meet ever-increasing federal fuel economy and emissions mandates.

Current Applications

You’ll currently find 48-volt electrical systems in a few models, including the Bentley Bentayga, which utilizes this system to power its electronic sway bars. While mechanically operated sway bars do a good job of reducing body roll in a turn, the electronic system is simply superior. That’s expected in a $230,000 super luxury SUV, but it’s only achieved with a 48-volt system.

 

Coming to a Car Near You

Most manufacturers haven’t said how and when they’ll implement 48-volt electrical systems, but you’ll be hearing about them, especially if you follow the major auto show and technology circuits.

For North American enthusiasts, upcoming auto shows in Los Angeles, Detroit, and New York may very well reveal where this trend is going regionally. The CES (Consumer Electronics and Technology) Show held in Las Vegas in early January should also provide some details.

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How to Finance an Auto Purchase

When you walk into a dealership, you won’t be there long before a salesperson asks how you intend to pay for your new car.

When the dealer starts in, just explain that you intend to pay in cash. Saying you’ll be paying in cash doesn’t mean you’re going to open up a briefcase with bricks of money inside, it just means that you’re not interested in dealer or manufacturer financing.

In some cases (if you have perfect credit if the car is about to be replaced by a newer model) dealer-sponsored financing might be a good deal, but most of the time it isn’t. You can usually find better deals on car loans at credit unions and banks.

Telling the dealer that you’re not interested in their financing takes away an opportunity for the dealer to pad the deal with an extra profit. Dealers make money on charging you, so they have ways of slipping various extra fees and charges into your financing arrangement. Forgoing dealer financing also allows you to focus on the features and purchase price of the car you want — a far more important and useful task than focusing on the monthly payment figure.

After declining financing, your next task is negotiating the purchase price of the car. Some survival tips:

Resist the temptation to lease
Leasing is basically an extended car rental. When you lease a car, you must return it at the end of the lease or buy it from the dealer at a predetermined price — usually higher than what you’d pay for a similar used car. When you take a loan out to buy a car, you pay down the loan and then the car is yours, free and clear. The only payments you’ll have to make after that are for gas, repairs, and insurance.

Lots of people lease. Smart, respectable people lease. It’s not a terrible thing to do, but it’s not the best way to keep a car because you’re always making payments. Lease a car for three years and, when the term expires, you need to look for a new lease or shell out thousands to purchase the car you’ve been driving.

Consider factory certified pre-owned cars
 “Certified pre-owned” is another term for “used.” But these cars do come with extra assurances about the car’s condition. Going pre-owned can be a really smart move because most cars lose 18% of their value in their first year. A certified pre-owned car is one that has been inspected and fixed before it goes on the market, and comes with a manufacturer-backed warranty like new cars do.

Size up your future car loan
 Once you decide you want a new car, the first thing you should do is figure out how many cars you can afford. Calculate this amount before you go shopping; don’t let a car dealer influence your decision.

Figure out how big a loan you should get. A good rule of thumb: Your monthly car payment should be no more than 20% of your disposable income. That means that after you’ve paid all your debts and living expenses, take one-fifth of what’s left. That’s your maximum monthly auto expense. Ideally, this number should cover not only your car payment but also your insurance and fuel costs.

Decide how long you’ll give yourself to repay your car loan. A monthly payment is, essentially, the amount of your loan, plus interest, divided by the number of months you have to pay back the loan. The more months you have to pay it back, the lower the monthly payment will be. But stretching out a car loan too long—or any loan, for that matter—will ultimately cost you a truckload more in interest payments.

For example, say you take out a $20,000 car loan at 5%. If you borrow the money over four years, your monthly payment will be $460.59. At the end of four years, you’ll have paid $2,108.12 in interest.

If you borrow the money over ten years, your monthly payment will only be $211.12, but at the end of 10 years, you’ll have paid $5,455.72 in interest.

Keep your loan term to five years or less (three is ideal) and you should be in good shape. If the monthly payments are too much even for five years, the car you’re looking to buy is probably too expensive.

Consider all pools of money
 
Should you sell investments to pay for the car instead of borrowing at 7%? That’s a tough call; usually, we’d say no. Do not spend any of your tax-sheltered retirement savings (IRAs, 401(k)s), as you’ll pay through the nose in penalties and taxes and rob from your future. As for taxable investments, consider whether cashing out would have tax implications (you’ll pay 15% in capital gains for investments held longer than one year; investments held less than a year are taxed at your ordinary income-tax rate) or whether you may need that money for something else over the next two to three years.

Should you take out a home equity loan to pay for a car, since the interest of those loans are tax-deductible?

Many people think home loans are the perfect way to finance the purchase of a new car. But the length of the term for a home loan — most require payments over at least 10 years, with penalties for early repayment — will send your total costs through the roof, even after the tax savings. Borrow for no more than five years, lease (if you must) for no more than three. If you’re considering a home-equity line of credit to pay for your car, remember that most HELOCs have a variable interest rate, so it’s possible your payments will rise over time.

How to Find the Best Auto Loan
You’re going to show up at the dealer with your own loan, but where should that loan come from?

Begin by getting a sense of the prevailing rate for a new-car loan. Focus on is the APR or annual percentage rate offered by each lender. The APR is the annual cost of the loan or interest rate. With this number, you can cross-compare loans from one lender to another, so long as the duration of the loans is the same.

You’ll probably get the best deal at a credit union— a members-only, nonprofit bank that can offer lower-cost loans than a traditional bank can. But check out rates at traditional banks and online-only car lenders such as Livauto Auto Loans.

Don’t be distracted by dealerships offering rebates or zero-percent financing if you obtain your loan through them. “Zero-percent financing” means you are not charged any interest on the loan. So if you were buying a car that cost $24,000 and you had a 48-month car loan, your monthly payment would be $500, without any added interest. A rebate is a money taken off the price of the car. Rebates are also called cash-back deals.

Here’s the thing about those offers: The money you save via interest and rebates is probably coming from somewhere. If you qualify for 0% interest (and most people don’t, as it’s given only to people with near-perfect credit), your dealer won’t budge on the sticker price. If you take the rebate, you won’t get a rock-bottom or 0% interest deal.

That’s why splitting up the financing and purchasing of your car is a good idea: First, you can shop around for the best credit-union car loan, and then you go to the dealer and focus on negotiating the purchase price of the car. Bundling the transactions can lead to lots of stress and added expense — you may be so focused on financing costs that you the punt on the purchase price — to keep them separate.

If you do choose dealer financing, be extra vigilant about what you agree to, and what you’re signing—it’s not uncommon for dealers to add in various unnecessary fees (rustproofing, extended warranty) that fatten their bottom line. Question everything that wasn’t explicitly discussed during negotiation, and don’t be afraid to walk away.

There are some easy ways to catch a break with your dealer when negotiating the price of your car. Timing can be everything:

Shop early in the week
 Weekends are prime time for dealers. But if you show up on a Monday, a salesman may be more motivated to cut a deal because business will be slow for the next few days.

Shop at the end of the month
 Car dealers get monthly bonuses if they move enough metal. If you show up on the 30th and your salesperson is two cars short of a bonus, he or she may cut you a better deal so to make numbers.

Shop for a car that’s about to be replaced/discontinued
Pretty simple logic here: Things that are about to be considered “old” sell for less. If you’re looking at a 2008 Honda Accord and the 2009s are about to arrive at the dealer, you usually can get a bargain. If the 2009 model is completely new and different from 2008, you’ll save even more. (Who wants to be seen driving the old-looking model? Smart, frugal people, that’s who.) And if Honda decides the Accord isn’t selling much anymore and kills it after the current model year? (OK, fat chance, but this is just an example.) Untold riches await. As do potential maintenance headaches — remember, some cars are unpopular for good reason.

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Auto Security: Do Feds Have Our Back?

Consumers should be aware of the possibility of a hacker attack on their cars. We now know that what used to be considered a movie scenario — remote hacking — could be done.

The current reality is that, while a variety of connectivity technologies have been transfused into cars, the equal and opposite security measures are yet to be deployed.

Surely, car hacking is the last thing automakers want to mention as they push the connected cars into the vast consumer disconnect. But government watchdogs in both the U.S. and the U.K. are working to get ahead of the curve and let the public know that they are concerned.

"Whether we're turning vehicles into WiFi-connected hotspots or equipping them with millions of lines of code to become fully automated, it is important that they are protected against cyber-attacks," said Martin Callanan, a minister in the Department for Transport at the British government.

He said this last week when the U.K. agency issued new guidelines, requiring manufacturers of Internet-connected vehicles to put in place tougher cyber protections to ensure a stronger shield against hackers.

It isn’t just the U.K. The National Highway Traffic Safety Administration (NHTSA) in the United States also issued last fall the federal guidance to the automotive industry for improving motor vehicle cybersecurity.

Questions to ask
So should we all sleep well, confident that the feds have our back?

Not so fast, Gracie.

Questions that come to my mind include:
1. Do the guidelines issued by NHTSA and British Department of Transportation have any teeth for security enforcement? 
2. More important, have they gone far enough to suggest effective cybersecurity measures for cars?
3. What are the differences in the proposals of the two separate governments?

As Roger Lanctot, director automotive connected mobility in the global automotive practice at Strategy Analytics, told us, “All of the work and guidance today is advisory vs. compulsory in nature.” Things will become real, in his opinion, “when financial and liability consequences are in fact defined.”

Sources of vulnerability in connected cars are many. Lanctot listed: “diagnostic ports, hobbyist/enthusiasts, dealers, suppliers/supply chain, criminals and terrorists to say nothing of incompetence, bugs, and the management of multiple onboard systems crossing domains with different development standards.”

Facing so many areas inside cars that must be protected as cars morph into always-on computing devices, it isn’t easy to come up with comprehensive guidelines. And yet, “Regulators need to demonstrate they are doing something,” said Lanctot.

How do security experts see the development of government guidelines?

Gene Carter, vice president of products at OnBoard Security, for example, believes that “both the U.K. and NHTSA guidance documents included basic security tenets.”

He explained such measures should be followed by any company connecting hardware or software to the web — including security by design, defense in depth, principles of least privilege, etc.  In Carter’s opinion, however, these are basics. “I would hope that the automakers have learned enough from the IT world’s experiences, and they [should be] already doing those essential things.”

A few experts, including Carter, pointed out that the U.K.’s guidance does not go far enough in the area of software updates after a vulnerability is discovered.

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5 Times When You’re More Likely to Get in a Car Accident

Accidents, collisions, and fender-benders. No matter what you call them, they happen a lot and could affect your auto insurance rate. In Canada, about 335 police-reported collisions happen a day, and while you should always take care when behind the wheel, there are times, or conditions when collisions are more likely to happen.

1. Summer months

Most drivers might think that they’re more likely to get into a collision when conditions are wintery, but the reality is there are more collisions in July than any other month, followed by October and August.

2. Frantic Fridays

Maybe it’s because we’re all in a rush to get home to kick off our weekend, but for many, our, weekends start off on the wrong foot. Almost 17 per cent of all police-reported collisions in Canada happen on Fridays; no other day comes close.

3. The evening rush

Hands down, the evening rush hour (starting at 3 p.m. and ending at 6 p.m.) has the most collisions. This three hour period of the day accounts for 25 per cent of all collisions that happen over the course of the day.

4. Intersections are tricky

Intersections, even with working traffic signals, controls, or signs, prove tricky for drivers because half of all collisions happen at an intersection.

5. Sunny days make drivers gloomy

At 70 per cent, collisions are overwhelmingly more likely to happen on days that are clear and sunny, compared to days when it’s raining, snowing or when visibility is limited due to fog or drifting snow.

Car collisions and your car insurance

Take care, stay safe, and drive carefully to keep your car insurance premiums in check because a collision where you are at fault (even if it is only partially at fault) can be costly. An at-fault collision can increase your premiums as much as 50 per cent. Don’t let an at-fault accident increase your rates. Drive safe and avoid driver distractions to keep your premiums low.

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Auto Loan Refinance Requirements You'll Need to Meet

When you refinance an auto loan, it means replacing your current loan with another with different terms. And this is usually done with a different lender. Basically, you swap lenders in order to receive terms that are more favorable for you and your current situation.

There is no minimum amount of time that must pass until you are able to refinance your car loan. However, you will still need to meet certain requirements in order to be approved.

  • You Have to Be Current with Your Payments. Lenders will not refinance a loan if you are currently behind on your payments.
  • You Can't Be Upside Down. The vehicle you're financing has to be worth as much as what you currently owe on the loan. Otherwise, your negative equity can prevent you from being approved.
  • The Vehicle Has to Meet the New Lender's Age and Mileage Requirements. Each lender will also have their own set of rules when it comes to the age and mileage of vehicles they are willing to refinance.
  • Your Loan Amount Has to Fall In the New Lender's Acceptable Limits. Meaning, the balance to be refinanced has to fall within the lender's acceptable range, which usually has a minimum and a maximum cap.
  • The Type of Vehicle Can Matter. Most lenders will not refinance commercial or delivery vehicles. Vehicles with salvage or rebuilt titles are usually disqualified as well. Also, RVs and motorcycles typically do not qualify for a standard refinance.
  • Your Credit Score Has to Be Good, or At Least Improved. Finally, only people with good, or at least above average, credit scores are usually able to qualify

 

Can You Refinance with Bad Credit?

Refinancing options are typically only available to consumers with good credit scores. However, for those who took out their loan when they had damaged credit, there are special cases that defy this requirement.

Sometimes, you can qualify for a refinance if you are far enough along in the process of improving your credit. If you had bad credit when you took out your current loan, it is possible that your credit score has improved if you have made all of your loan payments on time for an extended period.

If you have greatly improved your credit in the process of paying back your loan, it may be possible to qualify even if your credit score still isn't considered "good". This is because many lenders will look more closely at your recent payment activity.

If you have made all of the payments on your loan on time for between 18 and 36 months, you may be able to get refinanced. Lenders typically base their decision on a steady track record of about that length. You also may qualify for better terms, which will allow you to save some money.

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Understanding the Key Terms on Your Warranty

If you're reading through your new car warranty for the first time, or you are considering purchasing a new car, there may be a few terms in there that you don't know. To help you understand your warranty, we've defined a few key terms:

  1. Bumper-to-Bumper: a type of warranty also commonly referred to as a basic or standard car warranty. All automakers offer a basic warranty for a set amount of time or miles. This warranty covers basic, non-engine parts of the car such as the power steering, fuel system, lights, sensors, audio system, brakes, and climate control. If any of these parts malfunction while you are covered with a bumper-to-bumper warranty, your dealer should pay to fix them.
  2. Deductible: the amount of money you pay the repair facility for repairs on your vehicle. Some warranties cover the cost of all repairs and labor, but others require you to pay a set amount out of pocket.
  3. Federal Emission Defect Warranty: a type of warranty that covers repairs your car needs to meet the Environmental Protection Agency (EPA) standards. This includes defective materials and repairs.
  4. Plan Term / Plan Expiration: the length of time or the amount of mileage your warranty covers. When you reach the end of your plan term, for example 3 years / 60,000 miles, your warranty plan will expire.
  5. Powertrain: a type of warranty that covers certain "powertrain" parts of your vehicle. These parts include the transmission, engine, and drivetrain (transfers power from the engine to the wheels and down). If your powertrain components are found defective or damaged before your powertrain warranty expires, the manufacturer will pay for replacements.
  6. Roadside Assistance: provides owners with assistance if the vehicle breaks down. This often includes a number you can call 24-hours a day, 365 days a year for emergency assistance, towing, help with a flat tire, or fuel problems.
  7. Surface Corrosion: rust on the outside of your car. Substances such as salt and iron oxide can make it easy for rust to form on your car. Some warranties do not protect against surface corrosion.
  8. Transferability: when you sell your car and transfer your warranty to the new owner. Car manufacturers may allow you to transfer the entire warranty, half, or none.
  9. Wear and Tear: when components of your car stop working due to external conditions. This means that your air system or radio stops working because of operational error, not because the parts can wear out. Some warranties cover wear and tear.
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