How To Save Money Without Sacrificing Coverage On Auto Insurance

As a practical consumer, you only want to get the best possible deal when it comes to your car insurance therefore, getting cheap auto insurance rates is very important. The amount of money you pay for car insurance and its type of coverage is dependent on several factors. Being knowledgeable of such factors will help you save money on auto insurance rates without sacrificing coverage.

One of the key factors that will influence the auto insurance rates you will have to pay will be the deductible. When purchasing car insurance, the amount of deductible you choose will impact the monthly premium and correspondingly, your resultant coverage. A high deductible would mean a lower monthly payment but less coverage. The reverse applies as well. A low deductible would mean a higher monthly premium; however, your outlay for filing an insurance claim will be lower.

A good driving record is another factor that plays a huge role in finding cheap auto insurance. Drive carefully. Many drivers do not realize that minor violations such as a speeding ticket may increase your insurance. Any blemish on your driving record can be a red flag for car insurers. If you have incurred speeding tickets, you may take driving or traffic courses to prevent your insurance rates from going up. Be a safe and cautious driver for your own sake and also, for car insurance savings. Inquire about discounts for safe drivers and loyal customers. Most car insurance companies offer special incentives for safety and loyalty so ask around for such deals.

Another factor would be the safety of your car. If you want to make huge savings on car insurance, you will need a safe car. This means you will have to choose a vehicle that is not too sporty or fancy, and something equipped with safety features. The safer your vehicle, the lower your auto insurance rates will be.

Safe storage for your car will also impact your rates. Parking your car inside your garage instead of the street will lower your insurance rates. Coupled with the installation of safety features such as anti-theft devices, rates will be pushed down all the more.

A money-saving strategy you could employ would be to combine policies. If you own a home insurance policy or multiple car insurance policies, combine them if you can. Placing policies together should warrant you a discount.

The internet has definitely become the ideal venue for finding the most affordable rates with the types of coverage you need. Comparison shopping online allows you to instantly find the best rates from multiple companies thereby speeding up your search process. More importantly, it can be done form the comfort and convenience of your home.

How To Save Money On Auto Insurance Without Cutting Corners

According to, there were 6.4 million car accidents in the U.S. in 2005, costing drivers more than $230 billion and injuring 2.9 million people. This shows that if you are going to drive a car, you're going to need auto insurance. It's a way to protect you and the passengers in your car from unnecessary medical and repair expenses if you are in an accident. But finding the right auto insurance can be confusing and costly. There's liability insurance, collision insurance, comprehensive insurance and uninsured/underinsured motorist insurance. Then you've also got deductibles, premiums and add-ons to consider. Here are some ways to cut down the expense of your auto insurance without leaving yourself unprotected.

Getting the best auto insurance rate begins even before you start shopping for auto insurance quotes. It begins even before you have a car. The model car you purchase, and even the color of that car, can affect your auto insurance rates. Why? Some cars are more expensive to repair than others. Some are more likely to be stolen and some are safer to be in if you get in an accident. The insurance companies track these trends and use them to determine their auto insurance rates.

Once you've found the car that will get you a good insurance rate, begin getting auto insurance quotes from different insurers. Rates vary widely between insurance companies. You don't have to call each individual company yourself. An independent agent can collect auto insurance quotes for you, or you can try various Internet insurance quote sites. Also, make sure to ask for any discounts the company might offer – like safe driver discounts, safety feature discounts or multiple policy discounts (it may save you money to have your homeowner's, life and car insurance with the same company). When setting a deductible amount, select the highest deductible you can afford. Higher deductibles lower your premiums, though you'll have to pay more before your auto insurance will begin to cover any claims you might have. However, if you're a safe driver, this won't be a problem. Select at least $500, but if you can afford it, raise your deductible to $1000.

While you can easily drop comprehensive and collision coverage for older cars (or if you're a safe driver, cars that have been paid off), don't skimp on things like uninsured motorist coverage or medical coverage. Some companies also have an extra charge if you pay your auto insurance premiums month to month. Pay six months of the premium at once and you'll eliminate those extra charges.

Ultimately, you can save a decent amount of money on auto insurance without cutting corners as long as you do your research and understand the coverage in your policy.

British Auto Insurer Aims To Help Virginians Save Money

There's an elephant in the room, and one UK insurance giant is hoping American consumers will notice. The Elephant Insurance Group, which has been selling insurance in Britain under the name Admiral Group PLC since 1993, is now selling auto insurance in the United States. Starting in Virginia, the auto insurance provider is now up and running, as of the beginning of October. Although only currently offering coverage to Virginians, the company expects to be a pachyderm-sized new player in the American car insurance market, hoping to eventually expand nationwide.

Admiral Group PLC is Britain's third-largest auto insurer. And, with a $10-million investment so far in Richmond, Virginia, the company expects brisk business and quick payouts of claims in the U.S. Although Virginia seems an odd choice for an international company to begin its campaign, Virginia's regulatory commission allows the flexibility of quick rate changes, meaning the company can determine its marketing and cost structure on the fly. In California, for example, it takes 63 days to change an auto insurance rate, and the process can literally take months in other states. And if the question, "Why America?" comes to mind, well, the U.S. has become ripe for new auto insurance companies. Geico, and its process of educating and transforming the American car insurance market, has shown American consumers another way to get auto insurance quotes and buy auto insurance. And Elephant is poised to exploit that.

Most of the U.S. auto insurance market is still agent-based, meaning each customer has his or her own personal representative. But Geico has successfully shown Americans that the agent is not always necessary. Elephant Auto Insurance Group will keep their business phone and Internet based. Admiral Group's foray into the American auto insurance market will be its fourth overseas company. With 12 brands extending into three European countries – and now the US – Admiral operates a direct-to-consumer insurance business, serving customers via the phone and Internet. So far, it has nearly 2 million customers worldwide. The company is not expecting its international divisions to post a profit for another four to six years. If that happens, however, the group will double sales in the next eight years. Admiral Group has no debt, and has consistently reported higher net income since its initial public offering in 2004. The giant had a higher return than any other insurance stock in Europe, according to data compiled by

So why call it Elephant? Said CEO and Admiral founder Henry Engelhardt in an interview published in Bloomberg: "The elephant is the biggest animal in the jungle, it could step all over a gecko," referring to the English-accented mascot for Geico. And this Elephant will definitely be noticed when it comes to Virginia auto insurance.