Thursday

Vehicle insurance Tips


Vehicle insurance—everyone needs it (the laws say we do) but we hate to pay the price for getting it. So how do you lower the impact that this required expense makes on your wallet each month? Here are six suggestions and ideas that can help you lower the cost of this necessary evil.

  • Mama told you that you "better shop around." Like the old song says, you should shop around. Each insurance company has their own rates that they charge with their own unique discounts. You should get a minimum of four quotes from different insurance companies. This provides a comparison for you to use in determining which company to go with.
  • Coverage Amount. You need to know exactly how much coverage you need. Full coverage (which is a higher monthly payment) will compensate you if you total your car. On the other hand, if you choose to go with the minimum coverage, such as liability only, you'll have a lower payment, but if you get into an accident, the policy won't pay to fix your car.
  • Not all cars cost the same. The type of vehicle you drive will have a significant impact on your insurance rates. For example, a Ferrari F-40's insurance premium is going to be very different than the premium for a Geo Metro. Keep this in mind when deciding on what kind of vehicle to purchase.
  • Higher deductibles can save you money. Go with a higher deductible, which is the amount you pay out of your own pocket before your insurance company helps out. Depending on the amount that you choose for your deductible, you could save as much as 15% to 40%. Keep in mind that if you get into an accident you will have to pay the amount of your deductible before your insurance kicks in, but you can save quite a bit on your monthly bill.
  • Purchase different types of policies from the same insurance company. Many agents and companies offer a multiple policy discount. Ask your agent what types of discounts are available if you purchase homeowner's or renter's insurance from them as well as car insurance. You might be pleasantly surprised by their answer.
  • Good credit is important. More and more in today's world insurance companies, like many businesses, are using an individual's credit history to determine what they charge their clients. They do this to avoid a cancelling a client due to non-payment.


Sell Your Car Safely and Easily! Want to sell your old car on your own, without involving a dealer? Our checklist can help you get everything in order and protect yourself during the sales process. Save time. Be wise. Be confident. Check out Selling a Used Car Privately Checklist today!

Source: car.tips.net

No comments:

Post a Comment