August 16th, 2011 | Guest post |
When trying to insure your vehicle right you might run into a whole lot of options to choose from which may look quite confusing, especially to those not quite familiar with insurance. The insurance market is very diverse and the choices you make when buying a policy can result in substantial savings or serious costs. So, if you don’t want to spend a lot of time on becoming an insurance expert and still want to have a competitive policy to insure your vehicle with you might find the following tips really helpful after applying them:
Choose the right policy type As you may know there are different types of policies you can choose from and they all cater to different groups of buyers. Fully comprehensive policies are the most expensive and should be considered only if you’re financing your car through a loan. Third party, fire and theft policies are best suited for those who already have settled their loans but still have some market value with their vehicles. Third party policies will only appeal to owners of older vehicles with a small market value. So make sure to choose the right policy type right from the start.
Keep the coverage at a reasonable level There are different types of coverage that will be included to your policy depending on its type. But each coverage type also has specific amounts that can be adjusted. The more coverage you have the higher will be your premiums, so it’s evident that by reducing them you will cut your car insurance costs. Yet, don’t risk dropping these amounts too low because you don’t want to become short of coverage when you need it. If it’s third party liability then the coverage amounts should be able to cover repair and medical costs for an average accident in your area. If it’s collision or comprehensive coverage then it should correspond to the market value of your car.
Adjust your deductibles Deductible is the amount of money that has to be paid upfront before the coverage kicks in. Each type of coverage included into your policy has a separate deductible that may differ from one type of coverage to another. The higher is the amount of deductible the lower is the premium you’re charged with. So it’s beneficial to raise the deductibles a bit. Yet, keep in mind that you have to keep them on a reasonable level that you can actually afford. Otherwise what’s the point in lowering your premiums this way when you can’t receive coverage when you need it simply because the deductible is too expensive?
Shop around for the best rates Shopping around for car insurance is definitely the best way to get the most competitive rates. There are different ways to do it. You can ask your insurance agent to get several quotes from the local providers. You can contact the providers directly for information. You can use online quote comparison services that are all over the web. The main idea is to get as many quotes as you can to compare and choose the most competitive policy for your vehicle.
August 16th, 2011 | Guest post |
Having a teen driver in your family is certainly a hefty thing for your family budget assuming the usual insurance rates parents face when trying to insure their young driver. You will certainly have a hard time finding an insurance company that would give you cheap insurance quotes for a driver younger than 25. And there’s a reason for that. Young drivers, especially males tend to be a group with the largest number of insurance claims filed due to accidents. Lack of driving experience and general risk-taking behavior is a dangerous mix and that’s exactly what teen drivers are famous for. And insurance companies asses the risk of insuring teens by setting expensive rates. But should your teen be always charged with higher rates? No, if you use the following methods to make vehicle insurance cheaper for your young driver:
Good marks have a price Promoting good marks while your teen is at school or college can have a nice bonus from the financial point of view. Students with an average of B and higher can get a substantial cut in rates with most insurance companies. The only requirement is to provide a copy of grade report on a periodical basis. So you’re killing two birds with one stone: promoting better grades with your teen and cutting down car insurance rates to save some money for the family budget. Note that if your son or daughter are college students and study in more than 100 miles away from home you can also opt for a special student discount with most car insurance providers.
Keep it with the same policy While being independent in all domains is what your teen wants it doesn’t mean that buying a separate policy for his or her car right away is such a good idea. If you have several vehicles in the household and keep them covered under the same policy it would be wiser to include your teen and his car to the present policy as well. Sure, your rates will automatically go up since you include a high risk driver to the list. But in most cases this will be much cheaper than buying an individual policy for the young driver in your house.
Remember to shop around Shopping around is a must for just any type of insurance and it’s especially important when you’re trying to insure such a high risk car owner as a teen driver. Sure, the rates will be higher than for other age groups regardless of the company you quote with. But different companies have different statistics and methods they use to calculate their quotes. And as a result you will notice that there’s always a fluctuation in car insurance rates from company to company ranging from very high to actually acceptable. And it’s exactly what you should look for when shopping around for a policy. The more quotes you get the higher is the chance of finding an affordable car insurance policy for your teen driver. So keep looking and don’t forget that there are many free online quote comparison sites you can use for easy comparison shopping.
August 15th, 2011 | Guest post |
A lot of drivers feel the necessity of lowering their insurance rates these days. And there are different methods to be used in order to cut insurance costs. Some people strip down their policies to bare minimums, other buy from suspicious companies. Some even choose to break the law and drop auto insurance altogether. Still, there’s a method that can help you save money and keep the necessary coverage options intact. We’re talking about discounts. There are many types of discounts that can differ from one provider to the other. Yet, there’s usually a standard package of discounts found at most insurance providers as follows:
Defensive driver discount
You have probably noticed that there are a lot of defensive driving courses available all around the country. These courses teach how to reduce risks while being behind the wheel and drive efficiently. A very good bonus to completing one of such courses is the cut in insurance rates. Insurers appreciate drivers who take the time to reduce their risks while driving, that’s why you can opt for a special discount after completing a defensive driving course.
Good student discount
This particular discount will benefit teen drivers who usually get higher car insurance quotes if compared to other age groups. School and college students who have an average of B and better can opt for a special discount. It requires the grade report copy to be provided on a regular basis but in turn you get far better insurance rates.
Loyal customer discount
If you’ve been staying with the same insurance provider for some time now (usually more than 3 years) you can opt for a loyalty discount. This discount will be even more substantial if you’ve never filed any claims during this period. Moreover, if you have other insurance services with the same provide besides car insurance (home, health, life insurance) then you can also get a good loyalty discount.
Low mileage discount
Most insurance providers offer discounts to car owners who drive below a certain amount of miles per year. It’s usually around 10,000 miles, still the figure may differ from company to company.
Military discount
The majority of insurance providers offer substantial discounts to car owners serving in the military. Veterans and military in the reserves are also eligible for these discounts. What’s really beneficial is that these discounts are usually spread on military family members, which can be really helpful if the military worker is on duty away from home.
Multiple car discount
When you have two or more cars the car insurance quotes you will get for insuring them under the same policy will be lower than trying to insure them separately. Most insurance companies offer substantial discounts for multiple car owners and this can really save your money.
Environment-friendly car discount
Hybrid and electric vehicle owners can benefit from good discounts too. Insurance providers stimulate the use of environment friendly cars and also appreciate the typical owners of such vehicles, who are known for good income, higher education and low risk-taking while being behind the wheel.