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Car insurance and you



  Car Insurance Tips Courtesy of iii.org

One of the best ways to keep your car insurance costs down is to have a good driving record.

Below is a list of other things you can do to reduce your insurance costs.

1. Shop around

Prices vary from company to company, so it pays to shop. Get at least three price information. You can call companies directly or access information on the Internet. Your state insurance department can also provide comparisons of rates charged by major insurance companies.

You buy insurance to protect yourself financially and provide peace of mind. It is important to choose a company that is financially stable. Check the financial health of insurance companies with credit companies such as A.M. Best (www.ambest.com) and Standard & Poor & # 39 ;s (www.standardandpoors.com/ratings) and consumer magazines.

Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer insurance from several insurance companies. Others do not use agents. They sell directly to consumers by phone or via the Internet.

Do not shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out if they provide information on consumer complaints per company. Choose an agent or company representative who takes the time to answer your questions. You can use the checklist at the back of this brochure to help you compare quotes from insurers.

2. Before you buy a car, compare insurance costs

Check the insurance costs before you buy a new or used car. Car insurance premiums are based in part on the price of the car, the cost of repairing it, its overall safety record and the probability of theft. Many insurance companies offer discounts for features that reduce the risk of injury or theft. To help you decide which car to buy, you can get information from the Insurance Institute for Highway Safety (www.iihs.org).

3. Ask for higher deductibles

Deductibles are what you pay before your insurance starts. By requesting higher deductibles, you can reduce your costs significantly. For example, if you increase your deductible from $ 200 to $ 500, you can reduce your collision and comprehensive coverage costs by 1

5 to 30 percent. Going to a deductible of $ 1,000 can save 40 percent or more. Before choosing a higher deductible, make sure you have enough money set aside to pay it off if you have a claim.

4. Reduce coverage on older cars

Consider losing collision and / or extensive coverage on older cars. If your car is worth less than ten times the premium, it is not certain that you can buy coverage. Car dealers and banks can tell you the value of cars. Or you can look it up online at Kelly's Blue Book (www.kbb.com). Review your coverage at the time of renewal to make sure your insurance needs have not changed.

5. Buy your homeowners and car coverage from the same insurance company

Many insurers give you a break if you buy two or more types of insurance. You can also get a discount if you have more than one vehicle insured with the same company. Some insurance companies lower prices for long-term customers. But it still makes sense to shop! You can save money to buy from different insurance companies compared to a multi-policy discount.

6. Maintaining a good credit record

Creating a solid credit history can lower your insurance costs. Most insurance companies use credit information to price car insurance. Research shows that people who effectively manage their credit have fewer receivables. To protect your credit record, pay your bills on time, get no more credit than you need and keep your credit balances as low as possible. Check your credit record regularly and correct any errors so that your record remains correct.

7. Take advantage of discounts on low mileage

Some companies offer discounts to motorists who drive less than the average of miles per year. Discounts with low mileage can also apply to drivers who drive to work.

8. Question about group insurance

Some companies offer discounts to drivers who receive insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Ask your employer and ask with groups or clubs you are a member of to see if this is possible.

9. Search for other discounts

Companies offer discounts to policyholders who have not had any accidents or variable violations in a number of years. You can also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has completed a driver's education or is away in college without a car, you may also qualify for a lower course.

When comparing stores, ask for discounts for the following: *

Anti-theft units
Car and homeowners Coverage with the same company
University students from home
Defensive driving courses
Driver Ed Courses
Good credit record
Higher deductibles
Low annual mileage
Long-term customer
More than 1 car
No accidents in three years
No variable violations in three years
Student driver with good grades

* The stated discounts may not be available in all states or from all insurance companies.

The key to savings is not the discounts but the final price. A company that offers few discounts may still have a lower total price. Catalog


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