Car Insurance Tips to Remember
Car insurance tips to remember
Insurance is one of those things that you hope you never have to use, but when the time comes it's a true lifesaver. Whether you're reading this while waiting in line for your new car insurance policy, or if you're already benefiting from your current policy and are looking for more ways to save money without compromising on coverage, these five car insurance tricks will help keep more of what you've got.
-Set your deductible low: Of course this doesn't mean that it's smart to pay less than the amount recommended by an expert. However, there is a point at which additional savings can be made without sacrificing coverage.
-Keep auto inspection records: Keeping an inspection record is a good idea for many reasons. It will help you when it comes time to make your insurance claim (if it's caused by something that was covered, like an accident), and it also makes claiming a stolen vehicle less difficult if you keep the police aware of the fact that your car has been in an accident.
-Don't take on uninsured or underinsured motorist coverage: If you have this kind of coverage, keep in mind that some states consider this insurance to be non-required. This means that you can save some money and still have all the benefits of uninsured motorist coverage.
-Consider a new car: A brand new vehicle is usually in much better shape than a used car and will definitely save you on insurance. A newer model also comes with better safety features, which can be invaluable if you have children or are prone to accidents.
-Drive defensively: When you're behind the wheel, whenever possible, make every trip count by keeping your speed down and adhering to traffic rules. Keep in mind that these are all things that the DMV knows, so consider how complying with them will affect your insurance policy down the road.
-Shop the Web: Online resources make it easier to find cheap car insurance quotes than ever before. However, that doesn't mean that your best bet is to simply click away and hope. A better way to go about finding the absolute lowest price is by calling your insurance agent and asking her to send you a comparison quote. This way you'll also be able to ask them if there are any ways that they can lower your rates even more.
-Ask your agent for referrals: If you've already purchased insurance with one of the top companies in the country, most agents will be happy to put you in touch with another agent who can help you save even more money.
-Check your credit history: This one is a bit controversial, but it actually may be a great idea at this point. If you have been having trouble paying your bills on time, this might be a good time to look into getting car insurance with another carrier or going without insurance altogether. If you know that you can handle the consequences of an accident while trying to better your credit score, consider looking into the idea.
-Tighten up with general liability coverage: Although the idea of carrying "general liability" and "collision" coverage is confusing, these policies have the same effect; they help cover damage caused by an accident that wasn't your fault.
-Reduce your liability coverage: The same goes for your liability coverage. If you're not planning on driving, or you live with parents that have a family plan, you might be able to save some money by dropping this coverage entirely.
-Check with your employer: You might be able to take advantage of lower rates offered by an employer if they cover employee cars and drivers. Call the insurance company the next time you talk to HR just to make sure that everything is taken care of.
-Shop around: Although it's tempting, it's best not to accept the quote right off the bat, especially if it's with a low-ball company. Always check with several insurance companies before signing on the dotted line; you may be surprised at how much money you can save.
-Ask about payment plans: Many people are surprised when they're asked to pay more than their car is worth, so ask about payment plans if necessary.
-Negotiate your claim: If your car insurance company has a little wiggle room, it never hurts to ask. You can always ask for a discount if you have been with them for awhile and have had no claims to make in the past year or two.
-Ask about discounts: Depending on where you live (for example, some areas have higher theft rates than others) and even where you work, discounts could be in order. Ask your agent about what discounts are possible and how much you can save in the long run.
-Call back: If you have any questions or concerns about a claim, call back to talk to the customer service representative who handled it. They should be more than happy to help you out.
Sources: [II] Motorists Insurance Board, http://www.mib.ca/auto-insurance-faqs/index-eng.html#car [III] quotes.allstate.com [IV] The Standard Policyholder's Guide to Auto Insurance, http://www.informahealthcare.com/doi/pdfplus/10.1080/157322797095912 [V] Progressive Insurance, http://www.progressive.com/about_us/blog_post_default.aspx?blog=carinsurancerates [VI] The Official State Website for Kansas , http://www.ksinsurance.org/consumers/docs/2010-11-09%20Property%20&%20Casualty%20101to103b-cancellationoflienandtransactionfeeauthorizationbillofrights@ksinsurance.org [VII] www.michigan.gov , http://www1.michigan.gov/dcfm/0,4601,LAW%2DFREE%2DTEXT%2D2011-02-06,00.html#auto [VIII] http://www.kansasdepartments.us/insurance/car_insurance.html?id=1 [IX] http://www.insuranceinfo.govt.nz/Read_More_About_Your_Insurance [X] carinsuranceservices.com [XI] http://www2.dfa.wa.
Conclusion
Undoubtedly, car insurance is an important aspect of life for many people. In addition to protecting against the cost of an accident, it may also help you to continue driving your vehicle even if the worst were to happen. The key to getting the best deal possible is usually in comparison shopping between dozens of companies; and although that can be tiring and time consuming, it's not very difficult once you know how to go about doing it. With these tips in mind, you should be able to easily shop for new insurance coverage without doing yourself out of a good deal.