About Us
WHO WE ARE
AxRate is an innovative company with impressive financial growth under our own power, which means we have complete control over our business, allowing us to keep costs down for our advertising clients. Because we control what we offer, we can help you find the most cost-effective auto insurance.
DETERMINATION
AxRate is determined to provide its customers with the most economical auto insurance rates that are available. We strive to make our website as user-friendly as possible, which helps the consumer to locate the car insurance that best suits their needs without breaking the bank.
DATA COLLECTION
AxRate is constantly collecting data on the auto insurance companies and which ones have the lowest rates. Because we are a data-centric company, we can continuously update the changes in auto insurance. We look for new companies with low rates as well as seasoned companies offering deals for drivers.
DILIGENCE
AxRate is proud to help consumers find the best car insurance. We’re able to do this through our diligence and hard work in locating the most affordable auto insurance available. We don’t stop working until we uncover the lowest rates and most comprehensive coverage for our customers.
CHARACTER
AxRate employees strive to make auto insurance shopping less painful by finding the best deals for every walk of life. We help individuals who are seasoned drivers, new drivers, and those who drive for a living, as well as a high-risk drivers. AxRate holds itself up to the highest degree of excellence, and it shows in our dedication to helping car owners locate auto insurance that brings them peace of mind.
THE HISTORY OF AUTO INSURANCE
The years following the great war, or WWI, saw the rise of the automobile. During this time, cars lacked the safety mandates of today, and driving was considered dangerous. However, no law required individuals to pay those injured in automobile accidents, and therefore, the victims of these accidents had no compensation. In addition, drivers were forced to pay exorbitant amounts of money to fix their damaged vehicles.
Fortunately, this was about to change. In 1930, the United Kingdom was the first to mandate drivers to have insurance to protect themselves and other drivers while operating their automobiles. They called this mandated law the Road Traffic Act 1930. This act required all drivers and automobile owners to have insurance for liability for injury or death of a third party. At the same time, the vehicle was being driven on a public road. In 1939, Germany mandated a similar law, called The Act, and with it came obligatory auto insurance for drivers and vehicle owners.
In the United States, in 1925, Massachusetts and Connecticut were the first states to create mandatory automobile insurance. Connecticut’s 1925 financial responsibility law legislated vehicle owners who were involved in any collision, with damages above and beyond $100, to prove they had a financial obligation to appease any claims for damages and or death, anyone, for at least $10,000.
It wasn’t until 1956 that the New York legislature mandated auto insurance for vehicle owners and drivers to become law. Before this time, Massachusetts was the only state that required all drivers to obtain auto insurance. High-risk drivers, such as those with more than one accident or several tickets, were initially unable to get auto insurance due to their histories.
However, because all vehicle owners had to be insured, states came up with the residual market plan, forcing insurance companies to make insurance available to these high-risk drivers. However, this does not come without exception, being that auto insurance companies have the right to charge higher fees for these risky drivers. In addition to higher prices, insurance companies can assign a driver with a high-risk plan. These higher rates may seem unfair.
However, they are there to protect third parties if they are in an accident with a high-risk driver. In addition to high-risk drivers, there are those with exotic and or high-performance vehicles. Some of the most exotic cars to insure include Ferraris, Lamborghinis, and McLarens. These vehicles need special insurance that covers only these types of high-end automobiles. Some factors must be met before insurance is provided.
For example, the car must be above $100,00 or at least 25 years old. It must be in good condition and cannot be used as the primary automobile, and when not in use, it must be stored in a locked garage. In addition, the driver must be over 25 years old with a good driving record. These exotic car insurance companies are mainly concerned with the driver and DUI’s, driving recklessly and speeding, which often accompany these glamorous autos.
Aside from Ferraris and Lamborghinis, there are a group of cars considered the cheapest to insure. These include the Chrysler Voyager, which is regarded as the cheapest automobile to insure, costing $1,272 annually. The third least expensive car to insure is the Mazda CX-3 Sport, averaging $1,294 annually. The fifth least costly automobile to insure is the Honda HR-V LX, at $1,322 a year.
Counter this with the cost of insuring an exotic automobile. For example, the first and most expensive car to insure is the Maserati Quattroporte S GranSport, which costs around $4,800 annually. The third most expensive car to insure is the Tesla Model S Performance, with an annual cost of $4,140. And the fifth most expensive car to insure is the BMW M60i x Drive at $3,900 a year.
Since the nineteen twenties, car insurance has been an essential factor when operating an automobile. However, it wasn’t until the late 1950’s that the U.S. mandated vehicle owners and drivers to carry car insurance. Though the prices have increased substantially, auto insurance isn’t going anywhere, so drivers of all creeds buckle your seatbelts and get ready to find the best auto insurance rates available through AxRate.
