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Archive for July, 2010

Ways To Save on Auto Insurance for Two Vehicle Households

Thursday, July 1st, 2010

Everyone loves to save money, and it’s a do-or-die for some in the current global economy. Auto insurance is the bane of many when it comes to putting together a budget, but there are ways to get a low auto insurance quote for a two vehicle household.

Two vehicle households can do something to save money on auto insurance that single vehicle households cannot; they can put both vehicles on the same insurance plan. Doing so can reduce overall premiums from five to ten percent. Your premiums will fall if you further insure any boats, motorcycles, and even houses under the same company; you can save up to fifty percent by just insuring everything that needs insurance under the same insurance company!

A simple and obvious way to save money on auto insurance is to be a safe driver. Traffic tickets and accidents will indicate that you are an unsafe driver to any potential or current insurance company, and you see will premiums skyrocket; they may go as high as two-hundred percent higher!

Related to looking like a safe driver, buying a car that costs less to insure will obviously reduce your insurance premiums. The make, model, year, upkeep, and even color of your car can affect insurance premiums; those looking for cheap premiums should consider purchasing a safe, reliable car that does not scream “speed demon.”

Increasing your deductible — how much you are willing to pay in the event you get in an accident and need help from your auto insurance (e.g. you claim two-thousand dollars for a repair and your deductible is five-hundred dollars, you pay five-hundred dollars for the repair and your auto insurance covers the other fifteen-hundred) — can lower your premiums greatly. If you feel the likelihood of getting in an accident and/or needing auto insurance help is low, but you are still required to get it by law, raising your deductible very high will cause your premiums to drop very low.

Picking and choosing between types of coverage may be advantageous if you’re looking to save money. For example, if collision insurance is unneeded, dropping it may cut the cost of premiums in half.

Even with all the above money saving tips, the best way to get a low auto insurance quote is to shop the insurance market. While coverage may be standard for your area, the differences between premiums in competitive insurance markets may be vast. Be sure to get quotes from multiple insurance companies.

By following the above tips, it is easy to get a low auto insurance quote, even in a two vehicle household. The bane of the budget may now be a shining example of smart shopping.

Two Ways New Drivers Can Help To Lower Their Insurance Quotes

Thursday, July 1st, 2010

Becoming one of many new drivers is an exciting adventure. The freedom of the road and a new automobile can be overwhelming and it can also be scary. Driving presents you with a new responsibility and one of the areas where the responsibility is the greatest is the financial cost to you. Car insurance itself is often a pricey necessity, especially if you have just started your adventure behind the wheel. But when shopping for auto insurance quotes, it doesn’t have to be scary or pricey if you are able to remember these two special tips.

One of the things drivers often make a mistake on is that you set your limits too high. Your medical coverage might be set at the maximum for yourself. This means in the event of an accident, your insurance company will cover you for the limits of your insurance. This seems like the right thing to do, but all this does is raise the money on your premium when you probably don’t need their coverage. Most people, and you are probably one of them, have health insurance so there should be no need to depend on the auto insurance to give that to you.

In the same vein, new drivers make the mistake of setting the deductible too low. The idea is you are worried that you are going to have to pay an expensive deductible if you are in an accident. While there is certainly logic involved in this line of rationale, you must remember that giving yourself a $500 or $1,000 deductible can make your auto insurance quotes that much more agreeable. Another thing to keep in mind is that you only owe a deductible if you are in an at-fault accident. If the other driver hits you, in all likelihood, you will not be responsible for any financial costs.

The other way to lower your quote is to make sure that you are taking advantage of all the discounts an insurance company will give you. For instance, equipping your car with an alarm makes really good sense not just for safety but it should result in a discount. If you are a student and your grades are exceptional, then you should also be eligible for a discount. Perhaps you have a child; this is a way to majorly reduce your insurance quotes. Insurance companies look at a driver with a child as a driver who is being forced to be more responsible. This can only help you in your fight to pay less money for your auto insurance. A little research and some logical thinking go a long way.

Three Ways for a New Driver to Find Reasonable Auto Insurance Quotes

Thursday, July 1st, 2010

New drivers usually receive high auto insurance quotes. This is because of their inexperience; according to car insurance company actuarial tables, newer drivers tend to be involved in a higher number of accidents than more experienced drivers. Since car insurance costs are largely determined by statistics, new drivers pay big. However, with a few tips, it’s possible for new drivers to find reasonable rates on car insurance.

Insurance companies like clients who take steps to decrease their risks, so new drivers should start by taking any classes or driving courses recommended by their insurers. These classes are very inexpensive, and can make a massive difference on auto insurance quotes. They have a major affect on any driver’s chances of being involved in an accident. Always remember, the lower the chances of a claim, the lower a driver’s auto insurance quotes will be. New drivers should also try to drive a safe vehicle. Vehicles with high safety ratings tend to be driven more responsibly, and every car insurance company is well aware of this fact. When claims are made on safer vehicles, they tend to be lower, at least where medical coverage is involved. If a new driver already has a car to drive, it’s sometimes worthwhile to add in safety features and anti-theft devices, as insurance companies will usually reward these drivers with special discounts.

Note where your car is parked. Cars that are parked in unsafe locations are subject to a high number of auto insurance claims. The best place to park your car is in a covered, locked garage or parking lot. If you must park your vehicle on the street, keep it locked and in as safe of an area as possible. New drivers often neglect to lock their vehicles, which lead to increased rates of auto theft and higher rates. Cars that are parked in safe locations are often subject to special insurance discounts.

A driver’s record is by no means the only factor involved in auto insurance quotes, and even new drivers can cut their rates drastically by taking some of those other factors into account. Talk to your insurance agent for additional tips, and take a common sense approach to your car insurance policy; don’t decrease your coverage levels or raise your deductibles unless it’s absolutely necessary, as this can put you in danger, especially when you’re driving for the first time. Thinking about your car insurance policy when looking for quotes is extremely important to keeping a protective and safe policy, and you can save large amounts of money with the right approach.

How Multiple Drivers on an Auto Policy Can Affect the Quote

Thursday, July 1st, 2010

Auto insurance quotes can be affected for many reasons. Some of these include driver record history, age of the driver, residential address and multiple drivers. The reasons stated can either affect quotes either negatively or positively. Depending on all these factors, premium prices can be higher or lower and may or may not include a deposit.

Negative Effects of Multiple Drivers

When multiple drivers consider coverage in an insurance plan, the driver’s record and age can be a factor to determine an auto insurance quote. When the driver has a poor driving record which includes tickets and automobile accidents, the insurance premiums will be higher. If more than one driver has accidents and tickets, this can make the auto insurance quote high. The insurance company might require a hefty deposit as well as higher premiums. The age of a driver will affect the quote. Young and inexperienced drivers are sometimes considered a risk and may be asked to pay a bit more. However, over time, with a clean driving record established, the premiums will drop. If multiple drivers live in areas with crime and risky weather, this affects the quotes. These areas present a higher risk for theft and damage to the vehicles. Getting insurance as a group does come with a price. If one member of a multiple policy gets consistent tickets or an accident, the entire group premiums may rise. It is necessary to weigh the costs when getting an auto insurance quote. Make sure you are aware of the driving record of each driver before deciding to be part of a group insurance plan.

Positive Effects of Multiple Drivers

Auto insurance quotes can also be drastically lowered because of having multiple drivers on a policy. Often, insurance companies will offer substantial benefits and discounts to a policy that has more than one driver. The longer the drivers go without any blemishes on their driving record, the deeper the discounts. This would include not only multiple drivers on the policy but multiple vehicles too. This adds up to quite a large discount for the entire group. Getting a quote online is efficient because you are able to compare various insurance quotes and plans. Insurance coverage can be procured immediately by filling out the application online and printing the policy and coverage. Each year that a policy is in honorable standing, it could lead to even deeper discounts for the entire group. It is a proficient idea to get more than one auto insurance quote on multiple drivers. Some insurance companies may offer a higher discount than others. Always ask plenty of questions and be thorough about understanding the policy you wish to purchase.

Extra Insurance That May Be Needed for Brand New Vehicles

Thursday, July 1st, 2010

You bought that new car you’ve been having your eye on. Now what? With a new vehicle, you need an insurance policy to cover it which can be pretty pricey. Before you purchase a new car, you should compare rates for the vehicle you have in mind to find an affordable auto insurance quote.

Buying insurance for a new car is different from insuring an older vehicle with a lower value. New vehicles require full coverage to protect the value in the event of an accident. With older vehicles, you are only required to have liability and no-fault coverage at your state’s minimum requirements. However, for a new vehicle the coverage requirements also include comprehensive and collision.

Comprehensive coverage will protect your vehicle from any damage caused by ‘non-collision’ sources such as theft, fire, or flood. Suppose the vehicle you plan to purchase is on the list of ‘top stolen vehicles’. This would put your car at higher risk for theft and therefore you must have adequate coverage if it should get stolen. Collision coverage is to cover the damage caused upon physical contact with another vehicle.

You are only compelled to have your state’s minimum requirements for each of these types of coverage; although you may want to purchase more depending on your car’s value in order to cover it. The higher the value is for the vehicle the higher your premiums will be. It’s wise to compare rates for the insurance coverage needed for the vehicle you plan to buy. You may change your mind on a safer, mid-sized car for a more affordable auto insurance quote.

If you’re taking out a loan or leasing your new vehicle, another type of auto insurance you may need to consider is gap insurance. Some dealerships may require gap insurance when you lease a new car.

As soon as you drive your new car off the lot, the value depreciates from what you paid for it. Car insurance companies go by the value the car is actually worth in an accident. If you lease or get a loan with little to no down payment, gap insurance will cover the gap between the amount you owe and the total value of the vehicle. This ensures the bank or the dealership will receive the vehicle’s total value if you happen to total it or it becomes stolen.

How much insurance you’ll need for a new vehicle depends greatly on your state’s minimum requirements. The key to finding a reasonable auto insurance quote for the coverage needed on a new vehicle is considering the type of vehicle to purchase. Remember, sportier cars will require more coverage.

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