Auto insurance is one of the most expensive, and regular costs, of owning a car. While having insurance is a necessary aspect of owning a vehicle, spending a lot of money is not. It is well-known that advances in technology have helped to improve every aspect of life. But what may not be known, is the fact that some of these advances can be used to help lower the costs of car insurance. Here is a list of six innovations that will help you decrease the cost of your premiums.
Installing a car alarm does not eliminate the chances of car theft. However, installing a tracking device does insure a quick recovery should a theft happen. These systems also act as a deterrent to would-be thieves. Some tracking devices use a low-frequency transceiver that sends signals to police once the car is identified as stolen. Other systems use GPS tracking to recover the car. LoJack is one of several companies that provides a tracking and recovery system. Because of the deterrent factor and high-recovery rates, insurance companies provide discounts to customers with tracking devices. Depending on the insurance company and the state of the insured, the discount can range from 15 to 20 percent. Read the rest of this entry »
There are times when a person might let a family member, neighbor, roommate, lover, or friend drive their car when asked or simply out of their own will. Some fail to consider the specifics of their insurance coverage when a returning child from college for a Christmas break suddenly borrows the family car to go to the mall with some friends. But is it ok to let a family member drive a vehicle that is not registered under his name?
Many people who apply for auto insurance do not know just how important it is to disclose all possible drivers of the insured car when getting quotes for insurance regardless if they will drive or not. It actually affects the extent of coverage which can have a chain reaction in case of an accident. Things must be clear regarding claims because insurance companies will only pay in accordance with the signed policy. Read the rest of this entry »
It may be that you already have in mind what the best car insurance policy is for you and your particular needs, however it may be difficult for you to find the best price for the car insurance type that meets your needs. The situation gets even more complicated if in the past you had accidents, or any sort of violations while you were driving your vehicle within the past three years. If this is the case one thing that you’re going to have to understand is that the options available to you for car insurance may be limited. This does not mean to that you should not search for the best deal. It may require a little effort, but if you are honest about your driving history, you should be able to find a relatively decent deal on car insurance and not have to worry about your coverage being interrupted or shut down in the future. If you’re able to maintain a clean driving record over the course of some time you will be able to once again qualify for relatively inexpensive car insurance
Individuals who do have a clean driving record have a wider door open to them when it comes to finding cheap high quality auto insurance rates. One of the first things that individual in this position should do is try to get information from at least five different car insurance companies and compare these rates. Depending on the state in which you live you may find that there are variations of several hundreds of dollars in the annual rate charged by different companies for the same vehicle.
Understanding how car insurance companies sell insurance is a huge advantage to individuals looking to purchase inexpensive car insurance. Car insurance companies usually sell their insurance using one of three methods. Read the rest of this entry »
Lowering transportation costs is important in today’s economy. The average cost of a gallon of gas has almost doubled in the past four years. Finding a way to save money on necessary expenses can feel a bit overwhelming. Eye catching newspaper or online ads may encourage switching to their company to experience an immediate reduction in insurance rates. Advertisers may promise a substantial amount of savings of $400 or more annually. This amount of savings can easily be five to ten percent of a policy for liability or full coverage insurance. Here are a few tips for weeding thru advertisements to find the best car insurance. Read the rest of this entry »
From the loan, gasoline, routine maintenance, and repairs, a vehicle is often an expensive item to own. Another expense is insuring the vehicle, a cost that varies greatly. For example, those with an excellent driving record and that own an older vehicle will usually find the expense relatively small. On the other hand, for those that have a driving history with traffic violations, the monthly cost of auto insurance can easily surpass $200.
Drivers need to know what causes premiums to rise before they can avoid costly premiums. Here are five of the most common contributors to higher premiums:
1. Traffic Violations/Accidents
Although some drivers don’t make the connection between their driving habits and insurance premium rates, the reality is that insurers consider a good driving record as an essential element in obtaining the best auto insurance premiums. Of course, insurers understand most drivers are bound to have a traffic violation or accident at some point. Therefore, most insurers don’t make substantial increases to insurance premiums for a single incident. However, insurers are very likely to make increases when a driver has multiple accidents and/or traffic violations on their driving record. In fact, the insurer may even decline to renew the policy of such a driver. Drivers dropped by an insurance company may find it very difficult to find an affordable policy through a different insurer. On the other hand, drivers with a good record should periodically review their policy to see if they qualify for any premium decreases. Read the rest of this entry »
It’s hard to have a conversation about auto insurance without at least one person complaining that their rates are too high. What most people don’t understand is that their rate is not some magical amount they are required to pay, but rather a precise calculation that takes into account personal and lifestyle attributes. Read the rest of this entry »