Tips For Lowering Your Auto Insurance QuoteBy Terje Ellingsen
Do you have many claims? If so, you should do all you can to reduce them or even endeavor to file no claims at all. Why do I bring this issue up in an article about lowering your auto insurance quote? Because the number of claims is the single factor that to the highest degree influences the cost of your insurance premium. Let me give you an example: Let's say you have 5 years of no claim. Most companies will then give you an unbelievable discount of your premium, some of them even 75%! It goes without saying that this is the most powerful way to get cheap insurance.
How can an insurance company do this? Look at an insurance company as a big box of money dropped in by people who gets security in return. What the company does is simply to reallocate the money that is left when the payments for damages are deducted.
People that have many damages and file many claims, must pay a higher premium and thus get a higher car insurance quote.But a safe driver that avoid claims, is rewarded with a lower one. Fair enough?
If you are new to insurance - or even if you have had insurrances for some years, but feel you lack knowledge about it. - I'll advice you to learn the basic auto insurance terminology, before you start to shop around. It can help you, not only to get a low cost insurance but also to make the correct coverage decisions for you. Let's do a little test: Do you need PIP coverage? What does PD coverage mean? What is BI coverage?
Do not accept the first quote you get
If you ask an insurance company for a quote, you can be almost hundred percent sure you'll get a better one from at least one other company. Comprehensive marketing research the recent years has shown that prices for a new six-month policy with comparable coverage can vary greatly between different companies. And we are talking about spreads in rates of at least $500
So, equipped with this knowledge both you and I know that it pays to do a little legwork and shop around for car insurance.
Most insurance companies have a form of questions you must provide answers to in order to get an understanding of your security situation. It is really astonshing, how much the criterias for determining the price can vary between companies. What one company may consider a high risk factor another company may view as a minor risk. So why not take a little time to compare rates for a number of different companies?
The first thing you should do before you start this comparison is to go through your insurance coverages and keep your auto insurance policy on hand. Then go online and start to shop around. The internet is probably the most comprehensive, fastest and easiest way to find a decent vehicle insurance quote.
And what's even more incredible, many insurance companies now offer some great discounts for buying the policy over the web - a discount that come in addition to the no-claim discount described above.
How is this possible? To handle an insurance sale in general cost money for the companies. However, a sale on the internet will cost less money than selling it over the counter. They do not have to involve human resources if you purchase it online. Thus the companies save money on your internet purchase, and a part of this saving is passed on to you as a discount, a significant discount if you buy from the right company.
|
10 Step Checklist for Labor Day Car Shopping
Labor Day is a federally-recognized holiday which celebrates hardworking Americans with a day off from work. TrueCar.com estimated that Labor Day weekend last year would boast 1.13 million unit sales among the country's leading automotive manufacturers. With the car-buying trend likely to pick up at a similar speed from the last Labor Day weekend, it's clear that now is the best time to buy a ...
How to Buy a Car With Low or No Credit
Like mortgage lending, auto financing got tougher after 2008, especially for those with low or no credit. Many Americans held onto their cars rather than upgrading because they couldn't get financing or worried about taking on an auto loan amid layoffs, hiring freezes and other uncertainty. The not-so-good news, if you have credit issues, is that you'll often pay a premium for financing to cover ...
Can I Buy Insurance After Being Injured In An Accident?
The health law's ban on pre-existing conditions doesn't mean you can buy a plan after you get sick. Most people have to wait for the open enrollment period.
New electric car club in Stratford is first of its kind in UK
Pay-per-use E-Car Club offers chance to hire one of four vehicles each with own parking space and charging points around town
Cheapest Cities You Will Want to Live In
Cities with super-low living costs can suffer from high unemployment, poverty and a lack of services. To do so, we required that each city have below-average living costs, high household incomes relative to the cost of living, and an unemployment rate that's below the national average.
SPLC helps low-income people with traffic violations avoid jail
The City of Montgomery reached a settlement with the Southern Poverty Law Center on Wednesday that should help keep some people out of jail.
Tata AIG eyes Rs 3000 cr premium income this fiscal
Riding high on the optimism for economic revival, private sector insurer, Tata AIG General Insurance is eyeing premium income to touch Rs 3000 crore this fiscal, up 22 per cent from previous year?s Rs 2,456 crore.
Why commercial drivers hardly make motor insurance claims
Motor insurance is mandatory by law and also one of the most common and highly respected insurance policies in Ghana. Also known as vehicle/car/auto insurance, motor insurance is purchased for cars, trucks and other road vehicles.
Volokh Conspiracy: Subprime auto loans
Leaving aside the innuendo, what do we actually know about this market?
Angry Uber Drivers Break Out Of Low-Paying UberX Prison
There is one little downside to all these extended UberX deals NYC customers have been getting lately: the drivers aren't happy. A large group of Uber drivers, under the name Uber Drivers Network NYC , have been protesting the company all week?they've organized to strike this weekend and planned to show up with 1,000+ drivers at Uber's office on Monday. So Uber did something very un-Uber like ...
|
