Lower Your Car Insurance Premium

Purchasing car insurance is an vital part of overall financial planning, and it’s not something to be taken lightly when buying a new or used car. Your auto insurance premium rate will vary depending on the company and the type of policy coverage you choose to have.

Here are some guidelines to lower the cost of your auto insurance premium.

1. Shop Around- Take time and compare the costs of different policies by getting quotes from at least four to five insurance companies and comparing the quotes.

Ask your friends and relatives for advice and help, and check your yellow pages. Most insurance companies should offer you a fair price, especially in more populated areas of the country.

Check with your local Better Business Buraeu office to ask about the financial ratings of the company. The financial aspects of a company usually indicates its strength and stability.

2. Ask for higher deductibles- The deductible is the amount of money that you have to pay out of pocket before making any claims for an accident.

Collision and comprehensive coverage are sold with the deductibles. The higher the deductibles, the lower the premium rate will be

Increasing the deductible from $200 to $500 may reduce the policy amount by 15 to 30 percent.

3. Drop collision and comprehensive Coverage on older cars- If your car is worth less than 10 times your premium in the current market, think about dropping your collision and comprehensive coverage.

4. Consider buying car insurance from your existing insurance carrier – Buy insurance coverage from your existing carrier. This may help you to reduce your overall cost. Sometimes, lower rates are available for the longtime customers. It doesn’t hurt to ask your present agent, if you have one.

5. Avoid double health coverage- If you believe that you have enough health insurance, then don’t get health coverage with your auto policy. Avoiding a doubling up of of the same covergae on different policies will help you to reduce the cost.

6. Maintain a good credit record- Insurers are using your credit history while determining the price of insurance. It’s been determined that the lower your credit score is, the more you are likely to file an accident claim.

A person with a good credit score is also more likely to settle the accident without the support of the company. Try to maintain a good credit record.

7. Try buying a less flashy car- Cars that are expensive to fix, or attractive to car thieves will have a higher rate than other cars you may considering if you’re prepapring to purchase a ne or used car.

Think about buying a low profile or average car. Your carrier may have discounts for “sleeper” cars.

Take advantage of the many ways you can save. After all, it’s about more money in your pocket, and less in your carrier’s.

Read More

Cheap Auto Insurance Online for Your Teen

So, you have a teen that is at the driving age. Choosing the right auto, the right insurance and the factors that determine price, is the purpose of this article.

Choosing the right auto is very important to getting cheap insurance. That flashy, red, convertible sports car really looks great, but the insurance for it with a teen driver?… ouch!! Find out what your teen can live with other than this and do your insurance shopping with that model in mind.

Some of the factors that enter into price is:

1. Where do you live? In the city, a suburban area or in a rural setting? The rural area will be the lowest rate with the city being greater.

2. How many miles per year will the vehicle be driven and how many miles to work, school or college.

3. The model and age of the vehicle and it’s safety record. Sometimes an anti-theft device will lower the rate.

4. The deductable amount and the coverage amount, these vary according to area and what the laws are in your state. The more out of pocket you can afford on the deductable the lower your rate will be.

5. Your teens grades at school is also a determining factor. The higher the grades the lower the rate. Makes sense right?

6. Did your teen take drivers ed? Also a factor.

Make sure that your teen knows the importance of a safe driving record, no tickets, no accidents. Over time, a teen with a safe driving record will have their insurance rates reduced. Instill a sense of responsibility in your teen for their freedom to drive.

Some insurance companies offer a policy for just the teen driver. This way they aren’t added to the families policy. This can be a lower rate. There may be some restrictions, such as no driving after dark or others.

Use your favorite search engines to find insurance companies that have the lowest rates for these factors. By shopping online you have a lot of companies to choose from, and it is quicker than the yellow pages.

Keep all of these things in mind when shopping. Insurance rates vary widely, so take your time when doing your research. Another way to search for a good insurance company is to ask around at garages and body shops. Those guys deal with insurance companies every day.

I hope that these factors will help you in finding that company that will give you a good policy at the lowest possible price.

Read More

Compare Auto Insurance prices – 5 Simple Tactics

It is very important to compare auto insurance quotes provided online. The comparison is necessary to make sure that you are getting the lowest auto insurance quote. It is very easy to compare auto insurance quote, if you are doing an online search. Most of sites give you an opportunity to get three auto insurance quotes side-by-side for comparison.

No limitation is given for quotes; you can get as many quotes as you wish to compare one with another. Here are some simple tactics to compare auto insurance quotes.

1. First of all you have to fill an online form, to request free quote for the coverage you desire to include in your policy. Always compare auto insurance quotes for the same coverage.

2. Always remember that price is not the only criteria to approve any auto insurance. Try to know how long the company is working in the field of auto insurance. At the time of comparison, you will find that emerging companies offer lower quotes. This will be a great idea to ask auto insurance quotes from newer companies, but be aware while buying insurance from them.

3. If you have two accidents and/or 3 traffic rules violations in your account then it will be difficult for you to find cheap auto insurance quote. In such a condition you have to do an extensive comparison to find a good quote that suits your budget.

4. It will be better to make up your credit history before requesting for an auto insurance quote, as it will give adverse effect to insurance company. Company may offer you higher quotes. Thus it is not a recommended step for people with bad credit history.

5. It is better for you to start requesting auto insurance quotes in advance. If your insurance policy is nearing the expiry date you might face problem to get a cheaper quote. Start from current company, they might offer lowest quotes.

Read More