posted
11/04/12
Are you looking for ways to lower your auto insurance premium? You can actually get lower rates depending on how old you are, or depending on your driving record and credit history, among other factors. However, the trick is to find ways to lower the annual premium. Here are the 5 quickest ways to lower your auto insurance premium.
Increase Your Deductible
Stop trying to get the ‘lowest deductible’, instead go in for a comfortably higher out of pocket payment plan. The amount that comes out of pocket before the insurance policy takes effect would be the “deductible” amount. Your periodic premium amount would then effectively go down. However, be warned that if something happens to your vehicle you need to shell out more to cover the initial expenses prior to going in for a claim.
Leave Your Car At The Garage
One of the simplest ways to cut down on your insurance premium is to park your vehicle in a garage at personal or commercial establishments. This is a good way to cut down on your premium by about 20 percent or so. Of course, you don’t run the same risks of getting your car damaged if it’s parked at a garage. From a transaction perspective, parking in a garage could mean a difference between a preferred rate and a standard rate.
Look For The Cheapest Option
This is probably the tip we recommend more than the others. Make sure you at least have three to four price quotes with you prior to selecting a service provider. Look beyond the initial price and consider the whole cost of the deal.
Slight Reductions Through Defensive Driving Courses
This is a tip not everybody knows of. By volunteering for a state-approved defensive driving course, you can get discounts in your premium of up to 10%. Do not do this without first consulting with your insurer.
Reducing Your Coverage
The last, and most simplistic tip is to downsize your auto insurance coverage. However, we suggest you to be careful and prudent while making this decision. Think of the possible loss in coverage that would go with the discounted premiums.
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posted
10/04/12
Everyone who owns and operates a car in the United States is required to pay for at least a minimum amount of liability insurance on their vehicle. Despite this, astonishingly few individuals truly understand what it is they’re paying for. Whether knowing the difference between comprehensive and collision coverage or understanding why your rates cost what they do, most people have plenty to learn when it comes to car insurance. The more you understand about car insurance, the more easily you can make informed decisions that will affect your policy and help you to save money on car insurance.
While facts and figures might be confusing, images truly can speak louder than words. Here are four eye-opening infographics about car insurance:
1. http://www.getautoinsurance.net/three-car-insurance-facts-infographic/
While most people know that car insurance is a legal requirement, a each year people miss a valuable opportunity to save money on their taxes by claiming car insurance for business purposes. If you are able to claim gas as a business deduction on your tax return, you can absolutely claim a portion of your insurance costs as well. Also, when you purchase coverage for your homeowners, renters, or auto insurance policy, be sure to ask about coverage for your personal possessions; every company will handle this differently, and there may be several options available for any given policy.
2. http://www.autoblog.com/2011/04/05/infographic-why-is-your-car-insurance-so-high/
Most people are shocked to discover just how many factors are involved in setting insurance rates. While some factors, like driving history, can be expected, you may not have realized just how much of your insurance is determined by factors outside of your control. Luckily, a good driving record will counteract your gender, age, or bad credit. If your insurance is still too high, you may be able to take advantage of discounts by bundling your home and car insurance through the same company, or enroll in a pay-as-you-go policy that bases its rates on your individual driving habits and daily mileage.
3. http://drivesteady.com/car-insurance-by-age
You might know that young drivers pay more in insurance premiums than experienced drivers, but do you know how much more? Here’s a detailed breakdown of how insurance rates differ among different age groups, along with the statistics behind the rates. Also, this graphic provides a quick over-view of what states provide the most and least expensive policies. As a rule, populous states will have higher rates than rural areas due to the claim volume: High populations mean more drivers to get into accidents, and a higher incidence of accidents on crowded city streets.
4. http://www.carinsurancecompanies.net/top-10-car-insurance-companies-by-market-share/
Ever wondered how the major insurance companies stack up? The company with the highest market share isn’t necessarily the one with the largest profit. When wondering why some car insurance companies can afford to offer lower rates, it’s important to remember that some companies have many more employees to pay than others. Insurance companies with fewer employees may be able to offer lower rates, but they may not provide the same quality of customer service.
Car insurance can be complicated to understand, but it doesn’t have to be an impossible mystery.
George Stanzan is an avid financial and insurance pioneer who writes articles for GIQ where the theme is to help users find better auto insurance rates
posted
14/03/12
For almost all Americans, automobile insurance is an increasing expense. Even though we can’t afford to have it, we also can’t afford not to have it. Follow these easy guidelines when you research for car insurance companies and compare policies in order to get the most coverage for your insurance dollars. From as many carriers as you can, try to get discount car insurance quotes. Depending on the model of your car and the type of coverage you need, automobile insurance rates may drastically vary.
Because higher deductibles would mean lower insurance premiums, try to consider as high a deductible as you can afford. Review quotes and policies carefully to make sure you are only paying for coverage you really need.
If you have homeowner insurance, ask your agent if you are covered already for certain items you might be charged again for on your auto policy. Once different car insurance carriers have given you quotes, try creating a spreadsheet. What you can do is set up a scenario with medical expense and car repairs so you can make the best comparison of the different coverages. When you’re done choosing the 2 automobile insurance policies that are least expensive and will give you the coverage you need, your next step is to contact a reputable body shop in your area for a referral.
Everyday automobile shops deal with insurance companies, and it’s important to make certain that when making an insurance claim the company that you send your premiums to is fair and responsive. How long it takes to get an adjuster to view the vehicle that’s been damaged, how the insurance company operates, and the time it would take to get paid on a claim are things that the body shop will have an opinion on. After 10 minutes of talking to a reputable body shop manager, you’ll get a lot of information about insurance companies and how they handle their claims.
In the event of an accident, to save you from a world of hassle, get coverage from a company that properly handles their claims.
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