Showing posts with label insurance. Show all posts
Showing posts with label insurance. Show all posts

Dec 3, 2019

Six Ways To Reduce Your Car Insurance Premium in Less Than a Year

We all want to save money on car insurance. If you’re looking for ways to cut costs, have you considered an attempt at lowering your premium? You might assume that your premium is set in stone, and there's nothing you can do about it. The truth is, you’re not as powerless as you may think.

Part of the solution is understanding how premiums are calculated, what insurers consider to be higher risks, and adapt your behavior accordingly. Other approaches are relatively simple takes on consumer smarts that you probably already use in your everyday life. You don’t need to become an expert on the insurance industry, but a little effort can go a long way when it comes to spending less money on car insurance.

We’ve been digging into the industry to give you a head start. Adopt a few of these measures, take a smart approach to your auto insurance, and within a year you can see some great changes to your premiums.


1. See What’s Out There


The obvious way to save on your insurance premiums is to shop around for the best deal. If you’re not happy with your current provider, take the time to research other options. Get quotes from as many companies as possible. Insurance companies look at your credit score when preparing your quote, but these are soft inquiries. Unlike hard inquiries, they won’t lower your credit score. You have nothing to lose and everything to gain by shopping around.

Every insurer’s website will make it sound like that company is the best. That’s why it’s important to be discerning when looking at online information. Along with getting quotes, it’s wise to do some research on the provider. Look up the company on the Better Business Bureau to see complaints from past customers. The tried-and-true method of asking friends and family members for recommendations works too. Failing that, you can look for consumer reviews online.

2. Check Your Credit Score


A great credit score is necessary to make progress in the modern world. If your credit is suffering, you’re most likely paying more than you should for car insurance. As we mentioned, insurers use a customer’s credit score to determine their premium costs. Research has shown that people with good credit are less likely to file insurance claims.

Fixing bad credit can be a struggle, but it’s worth it. The time will pass either way, so make sure that everything you’re doing can help improve your future credit. Even if you’re already quite responsible, it’s still wise to check your credit report often. Mistakes happen, but if you can correct them quickly, they’ll be less likely to affect your premium.

If you’ve recently improved your credit, congratulations! You’ve accomplished something great. Now is the time to get quotes and ensure that you can save as much as possible.

3. Be Protective


Providers determine premiums based on many factors. One of them is the likelihood that your car will end up stolen. Your insurance company might be willing to lower your premium if you install an anti-theft device in the vehicle. The level of discount is often determined by the type of device you have. Immobilizers are extremely attractive to insurers because they actively disable the vehicle, therefore unless the thief has access to a transporter, your car’s going nowhere. Many insurers also look favorably upon GPS trackers, as these can assist in the recovery of the vehicle following a theft.

Likewise, you also may be able to get a discount for demonstrating that you’re a safe driver. It is common for insurers to lower your premium after you’ve gone a certain amount of time without filing any claims. While you can’t control the behavior of other drivers, you can make yourself a more attractive risk to insurers by putting effort into improving your own abilities. Most policy providers will provide discounts to drivers who have completed a state-approved defensive driving course. Often there are options to take a purely online course, but it is best to check with your insurer what their requirements are before booking lessons.

4. Drive Less Often


This option isn’t for everyone. If you work from home or otherwise don’t get out much, take advantage of the low-mileage discounts offered by many providers. Less time on the road means less risk of an accident or theft. Your premium should reflect the number of miles driven in a year. The threshold for a low-mileage discount can vary, but usually this clocks in at less than 7,500 miles per year. It may be the case that you’ve spent years only taking occasional journeys, but your carrier will not be aware of you average driving distances unless you let them know. Give them a call to discuss your usage, and inquire about the possibility of this discount.

5. Consider a Higher Deductible


This idea might seem counter intuitive at first, but by requesting a higher deductible, you can often save on your premium. You’ll be taking a risk that could result in owing more in the event of an accident. It’s also possible that you’ll never have an accident at all. This is really a case of spending some time carefully assessing the amount of risk you’re comfortable with. Look at the crime rates in any areas your car is usually parked for significant periods of time. Do you tend to drive on roads with higher accident rates? Honestly assess your own driving skill too — are you confident that you behave in a risk-averse manner? If you feel that there is a markedly lower chance of you making a claim, it may be time to raise that deductible.

6. Drop Full Coverage


There's a misconception that it's best to keep all vehicles insured with a full-coverage policy. This isn’t always true. If you have an older car, you could consider switching to the minimum amount of liability coverage required by your state. When the value of the car is so low that it will be totaled in the event of an accident, a full-coverage policy is unlikely to be worth the cost.

If you currently have a high-priced comprehensive policy, and are reluctant to take your coverage down to the minimum required liability, it’s worth considering a point in between these poles. Many insurers also offer collision cover as an option. This doesn’t go as far as your full fire and theft cover, but it protects you in the case of damage caused by collisions with other vehicles and objects. It also provides cover for damage caused by hitting potholes.

As you can see, it’s possible to lower your insurance premium. The more you can improve your financial situation and track record in life, the more benefits you’ll receive. Insurance companies want to work with responsible, safe drivers who create as little risk as possible. Be on your best behavior and stay safe on the road, and if you don’t like your current insurance provider, don’t be afraid to look elsewhere.


May 17, 2019

Is Your Car Insurance Premium Affordable? Here’s What You Should Know!

Car Insurance Premium


One of the important questions that makes people feel perplexed is how financing a vehicle affects your car insurance rates. Well, the answer relies on how is insurance going to affect you?

Is having auto insurance is all about protecting the vehicle from the road accident or crashes. However, on the wheels, things, like being involved in an accident or getting a traffic ticket, are not just the deciding factor for care insurances. 

There are things like credit score, geographical locations, and more that will decide your much you will pay for your car insurance.

Have a look at common factors that will help to determine your car insurance premium:

The Type Of Vehicle You Own: 

Of course, the insurance of a luxury car vehicle like Mustang and Mercedes would be higher than the insurance rate of a normal car. But, why? This is because a high priced car has high repairing and replacing cost than other regular models.

Moreover, the high-octane cars can easily barrel down the road 100 mps, putting the driver and the vehicle at the risk of car crashes. This, in turn, can increase your insurance rates as the insurer often look at how safe the vehicle is to drive and how well the driver has kept it.

Some insurance provider also looks at the amount of damage your vehicle can have on other vehicles. So, if your vehicle model has a high chance of putting damage, the insurance provider will charge more for liability insurance. However, a car with high-end security features might qualify for the discounts.

Overall Driving History: 

The better and improved your driving record, lower will be your very cheap car insurance. If your car has suffered more accidents and you have been in serious violations, you likely pay more. Apart from the accidents and traffic tickets, driving with an intoxicated can, reckless driving and more can get into your insurance premiums.

Where You Park Your Vehicle Also Matters: 

The location where you park your car equally contribute to the rise and fall of insurance rates. While setting rates, the insurer judge where you have parked your car and how you have kept it outside the office. Car owners who like in areas where there’s a chance of vandalism, theft, and accidents are high; they will pay high debt than the other small-town or rural areas.

While setting car insurance rates, the insurance providers will look at your ZIP code to identify the neighborhood crime rates. Other location factors, which affect your car insurance rates are:

• What kind of weather will hit your region
• How much vehicle insurance frauds occur in your locality
• How much car repairs cost in your area

Driving Routine: 

Do you use your vehicle for long commutes regularly? If yes, your insurance provider will ask you to pay high for your car insurance. Why? Because more miles of travel will contribute to more risks and more car crashes.

Vehicle Credit History: 

How efficiently you handle your credit score affects not only your mortgage or credit card but also on how much total amount you spend on the car insurance. Your credit report, payment history, credit utilization, and more will also define your vehicles insurance rate. Not-so-great credit score can also trigger a whop in insurance rates. Also, keep in mind that credit-based insurance is not the same as the normal credit score that you apply for a car loan. A normal credit score will examine how likely you repay the load, but the credit-based insurance score will consider credit history.

Driver’s Age: 

Younger drivers having little to no-road experience will have to pay a steeper price to get behind the wheels. But, why? This happens because the teen is a higher risk of road accidents and crashing than the drivers of another age group.

Now that you know how the insurance rates vary to keep the above tips in mind and get affordable car insurance.

May 23, 2018

Secure Your Child’s Future with the Best Buying Tips

Child Future with the Best Buying Tips
Child insurance plans are specially designed for growing child so as to meet their increasing costs of education and other financial requirements. It provides risk cover related to the life of child throughout the policy term and during extended term, that is seven years after the expiry of the policy term. As the education cost is growing rapidly, it is essential to have a child insurance plan for the better future of your child. This is the plan that will help you provide your child the best education and ensures the cash flows even at the crucial stage of your child’s life.

May 10, 2016

5 Immediate Steps to follow if you have had a Car accident

Are you looking for auto insurance?
It is extremely stressful if you are involved in a car crash. Whether you have caused it or not, is not the question of the moment. If you are involved in a car accident, you should first follow a basic set of rules to ensure that you are in the all-clear, physically as well as mentally. Many people start worrying about insurance the moment they are involved in an accident. Whether you are looking for auto insurance in Garden Grove or Orange County, it doesn’t matter. What matter is that all the parties involved in the accident are fine.

Those who are in such high-stress situations are normally confused and do not know what to do. If you are unsure, always call 911 (in USA) to the scene and seek the assistance you need. Do not try to handle the situation on your own as you might be in shock and will not realize the dearth of the situation.

Sep 14, 2015

Top Tips for Saving on Home Insurance this Winter

Top Tips for Saving on Home Insurance this Winter
via gettyimages
With winter fast approaching, home owners are flocking to secure insurance for their properties. It’s no hidden fact that catastrophes can cause unexpected damage to all areas of your home – and insurance is one of the only ways to cover yourself against unexpected damage.

Sure, there are lots of things you can do to reduce the chance of the weather getting the better of your home, but sometimes, as unfortunate as it is, Mother Nature can’t be helped nor stopped. However, as long as you do your best, you can reduce the likelihood of having to claim, thus keeping your premium low for years to come.

Oct 2, 2013

Laser Blast and Rampaging Robot Damage Not Covered: Insuring the Cars of the Future

Edward Oberg, currently on hiatus from the insurance game, now spends his time reading pulp genre novels, shaking his head in dismay at the state of movies these days, haunting yard sales and hunting for the monster brook trout that delights in mocking him. He has vowed to defy the accepted wisdom regarding boring insurance reps by being extremely interesting.

The 1989 classic (it’s classic to me at least) action/sci-fi/comedy Back to the Future II introduced its audience to a wild, sci-fi, semi-dystopic cyberpunk-y future in which businessmen wear many ties at once, the Japanese pretty much run the United States, holographic sharks leap at you from movie marquees, bio-enhancing implants are available to the local bully, hovering skateboards abound and, most importantly, hovering cars are the most common form of transportation. (And they run on garbage-fueled cold-fusion reactors.) So when will all of this come to pass, according to the movie’s creators? In the year… *dramatic pause* …2015.

Sep 26, 2013

How Exactly to Determine Just How Much Life-insurance you want

Some folks believe that life-insurance is merely for the affluent. But it's the operating person of small means that truly must consider what a sudden death along with a lack of profit can mean to those left out. This composition can allow you to really see the advantages of insurance, in an entirely new light.  If you're between the ages of 20 to 50, term life-insurance could be the easiest & most powerful kind of insurance. Cash value insurance actually is logical for individuals’ people that are affluent and on age 50. A cash-value strategy may be tempting; however it will not be just as powerful.

Jul 24, 2013

The Most Common Reasons for Mobile Phone Insurance Claims

There are a lot of reasons why you might need to submit an insurance claim for your mobile phone or device. These can range from the relatively normal to the absolutely absurd and bizarre. Still, whatever your reason for making your mobile device claim it is important that you have a reliable provider like Protect Your Bubble phone insurance that can work with you to quickly and reliably replace your lost or damaged mobile devices. We all make mistakes from time to time and have a need to deal with the results as fast as possible. Are you curious what some of the most common claims made for mobile devices today are? Well here is a list of several common claims that you should be aware of as they might happen to you.

May 31, 2013

When PPI Sellers Break the Rule of Selling, You Can Claim Your Premium Payments and Interest Back

Over the past several years, banks, moneylenders, and insurance providers have been caught to be mis-selling Payment Protection Insurance to their customer, which eventually caused them a lot of trouble. Complaints and reclaim cases have started flooding their offices because consumers were extremely unhappy with how they were treated.

May 24, 2013

When An Accident Happens, Who Should You Call?

Car accidents happen every day, and when they happen to you, you should know who to call. Of course you should first call for an ambulance or medical attention if someone is hurt. The next two calls should be to report the accident to the police and your auto insurance company.

After all of those calls are made, you can call a family member or friend to let them know what happened. In all accident cases, whether they are just a minor fender bender or they are much more serious, you absolutely should get the police and your car insurance company involved.

May 1, 2013

Insurance for Commercial Vans

While insurance is essential for any kind of business, a business owner often needs to make decisions on what to insure and to what extent. Insurance for shop space, for storage space, during transit, etc. are all decisions that needs to be made. Considering this, the ultimate delivery of goods and services is often done via a commercial van. Many small businesses have commercial vans that are the linchpin of the business.

Mar 21, 2013

Underlining the Importance of Getting Insurance

In today’s elaborate financial world, insurance has established its place as one of the most important financial products you can find. The process of safeguarding the interests of different groups of people from financial uncertainties has inspired the blossoming of the insurance industry. Having an insurance policy is not only considered useful in these modern times, but also necessary for individuals as well as businesses. But why is insurance given such gravity?

Feb 21, 2013

Understanding the Different Benefits of Unemployment Insurance Covers

This is the unemployed insurance system formed by federal state, which helps people who have lost their jobs by providing them some part of their wages when they are looking for job. The Unemployment Insurance program was formulated in the year 1935 in the form of social insurance. It is the contribution made to the system by the people who are working for an income support, in the unfortunate event that they lose their current job.

Jan 27, 2013

Car Insurance: Choose the Best Deductible for You

A car insurance deductible is the sum in damages that the customer has to cover using personal resources before the insurer steps in to cover the remainder. For example, if a customer has a $200 deductible and sustains $2,000 in damages to the insured car, that customer has to spend $200 on repairs while the insurer covers the remaining $1,800. Most customers can find car insurance policies attached to a range of possible deductibles. Choosing the right deductible can help them secure enough protection for their cars at reasonable prices.

Jan 24, 2013

Climate Science Prediction: How Updated Estimates Will Impact Homeowners Insurance Plans

Are global warming estimates too conservative? The scientific community has based global warming estimates on hard science, but because we have little hard data on previous examples of global warming episodes, they cannot truly predict the effects of global warming. In other words we may be able to predict the rate at which the earth is heating up within a few degrees centigrade, but we cannot truly predict what effect this will have on global conditions - particularly the weather.

Jan 14, 2013

Ensuring the success of your holiday home venture

With an increasing number of people opting for British staycations, a holiday home might be a great investment - especially if it is situated in one of the country's favourite tourist destinations.

If you have decided to buy a property or convert a second home for this purpose, there are naturally many factors to consider; including the decor, market and how much to charge, to name but a few.

Ultimately though, for your holiday home venture to be a success, just two basic elements need to be fulfilled: meeting your guests' expectations and your own peace of mind.

Dec 15, 2012

Home Insurance and its Advantages

Insurance Companies are sprouting in the business industry nowadays. This just proves to show that the call for the insurances (future security) is getting louder and louder, which was indeed heard by many business owners. Indeed having a security over any property against other possible damages in the future is not just merely a fancy but a necessity because investments are rightfully protected. This is the reason why most businesses nowadays revolve around insurances, because they can see the different probabilities that might come their way in the battlefield of all odds.

Oct 15, 2012

Sign Up For a Medical Malpractice Insurance and Lead a Peaceful Life

Doctors and nurses can be sued in the court by any aggrieved party, on the charges of malpractices. With the help of malpractice insurance these professionals can protect themselves from any sort of harassment. Even an experienced nurse can sometimes go wrong, and if this happens, then they will be liable for a lawsuit. Therefore, all medical practitioners, be it a doctor or nurse needs to get themselves insured under this policy. To begin with, they need to choose a reliable policy.

Oct 2, 2012

Health Insurers Profit In Last Financial Year

Over the last 16 years rebates for physiotherapists, dentists and optometrists have dropped by 20% and now cover less than 50% of health costs. Health funds’ profits from ancillary cover, however, increased to $1.1-billion in the last financial year.

In 1996, health insurance covered 57% of fees for services like optometry and dentistry but by 2011 the figure had dwindled to 49%. Physio had a 60% rebate in 1996 but has now also dropped to 49%. Insurers also benefitted from $5.15-billion in subsidies from the government and now people over 30 and those considered to be high-earners are being forced into taking healthcare policies out. Despite rebates decreasing, insurers are topping their profits on an annual basis and consumers are being forced to pay more.

Aug 14, 2012

Insurance Ideas to save you a Fortune

Insurance, of any kind, is not the most exciting of tasks to approach but on the other hand, it is a very important one and one to be done properly. An insurance policy needs to cover you in all eventualities to save you money and worry should anything happen to your vehicle.

Insurance policies come in all different shapes and sizes so choosing the right one for you is imperative. There is something for everyone and with the market growing online; you can click for a quote in a matter of minutes. You can save money and search hundreds of different companies in minutes for the best quote by using the available comparison sites online. It couldn’t be easier, but, be sure to know what you’re looking for before you dive right in there.