Car Insurance

Rising fuel prices have prompted many consumers to consider smaller, more fuel efficient cars. As popular vehicles, such as SUVs and trucks, generate more profit than compact vehicles in sales, car manufacturers will be faced with a large loss in profits. To buffer out these losses, the development of high-end compact cars are in the minds of manufacturers. Along with the design of the car being an important factor for consumers, car insurance cover also acts as an important aspect to consumers.

What Consumers Want

It has always been true that car manufacturers have enjoyed higher profit margins on large cars like sport utility vehicles, trucks, and vans; it has also been the case that these manufacturers make large profits on edgy sports cars. But what happens when the large cars require too much fuel, and the sports cars emit too much carbon? Increasingly budget-conscious consumers opt for low-margin compact cars.

To combat the low profit margins on their fuel efficient models, car manufacturers are increasingly making cars with futuristic, cutting-edge designs. They know that, while consumers are primary in the market for a fuel efficient vehicle, they’ll spend extra money of that high-efficiency vehicle has raw curb appeal and a design that sets it apart from other, more bland models.

Such is the case with BMW’s “Mini” brand of vehicles. They command a far higher price point than similar, generic models from other manufacturers on account of their unique design and curb appeal. There is simply nothing else that looks like a Mini, and it’s considered a status symbol to have on in the garage or on the street. BMW has capitalized on the increasing consumer perception that a world of fuel efficient vehicles is differentiated more by what’s on the outside than what’s on the inside.

Eliminating Generic Cars

It has long been the case that automotive design operated in a sort of “herd mentality.” Cars from certain decades all look the same — boxy, curvaceous, or otherwise. Consumers have long been fed up with manufacturers who produce cars with distinct names and features, but without any distinct identity. Failing the logo on the front of a car, it’s easy to confuse an imported Toyota with a domestically-produced Ford vehicle.

Manufacturers have finally given into this pressure from consumers; they’re starting to challenge their designers to produce designs that are not only cutting edge and margin-increasing, but also unique to their brand. It’s a challenge that harkens back to the “golden era” of automobiles in the 1950s and 60s, when cars from each manufacturer were distinguishable on the road by their unique features and design elements.

Increasing Importance

The increasing importance of design has implications on consumers as well as the companies who supply them with vehicles. The trend toward more compact cars doesn’t look to be subsiding any time soon, with fuel prices constantly on the rise. With smaller margins on compact cars, automotive companies will need to differentiate their designs and create mew market niches, or face real problems with profits and fiscal stability.

Likewise, consumers now place great value on a car’s aesthetics. Nowadays, the determining factors in purchasing a car is no longer about the rate of mile-per-gallon or internal design. In order to sell a car, the car must be unique. The revolution has started and car companies must take charge.

Conserve ample funds in your own life’s savings in the event that an unfortunate occurrence develops. Different auto insurance companies offer different quotes for insurance for your automobile.

It is against the law not to stop at the scene if you think your accident has caused damage to property or caused injury. First ensure that the scene is safe. Switch off all engines, turn on hazard lights and make sure oncoming traffic is aware of the accident. Dial 999 if anyone is injured, or if someone leaves the scene without exchanging details. If you think the accident scene may be a hazard to other drivers also call 999.

Stay calm. Don’t admit blame no matter how clear-cut you may think the cause of the accident is. Use a notepad to sketch out how the accident happened whilst you are still at the scene. Note down street names, vehicle locations and direction of travel, skid marks, collision points and any damage. Back this up with photos, most mobile phones have cameras these days.

By law, all drivers involved in the accident must exchange contact details with each other. These details include names, addresses, phone numbers and insurance details. Get the names and addresses of any witnesses, including passengers in the other vehicles involved.

Include any other details you think may be of relevance e.g. if you think the driver of the other vehicle was intoxicated or that they were using a mobile phone note this down. If weather conditions may have contributed to the accident, e.g. rain or fog, note this fact down too. Damage to the road surface, such as potholes or parked cars may have contributed as well, so note this on your sketch too.

If you hit a dog or farm animal you must report the incident to the police. If you hit a cat or wild animal you do not have to report it, as long as the animal is not injured or suffering. It is also against the law not to stop at the scene of an accident if you think the accident has caused injury or damage to vehicles or property.

Report all accidents to your insurance company even if you do not plan to make a claim. Make a photocopy of all notes and photos and send these to your insurance company as soon as possible after the accident.

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