Car Insurances

If you drive, there is no way around it, you are required by law to have car insurance. However, you shouldn’t have to pay an arm and a leg for the coverage year after year. If you are not obtaining your insurance by comparing rates from a series of generated online quotes, you may very well be paying too much for your car insurance. There are other ways, however comparing quoted rates is very effective and takes little effort to do. Just go to a few insurance sites and complete 4 or 5 free online quotes, compare the rates and choose the one you prefer to go with. One thing you may want to consider is that the cheapest is not always the best way to go. Do a little research with your results and go with a company that provides affordability as well as good service just in case you do need them.

Car insurance can be broken down into different sections, some of which you may not require. For instance, liability is required by law for any vehicle on the road, and provides protection for property or bodily harm suffered by others if you are ever involved in an accident. This is the minimum coverage you are allowed to drive with, but if you drive a newer vehicle, this may not be sufficient. Most of the time, if you purchased the car with a loan, the lender may require you fully insure the vehicle as a condition for granting you the loan. This would include comprehensive and collision insurance. This part of car insurance provides protection to you, your property, repairs to your vehicle caused in an accident, as well as covers someone who is driving your vehicle with your consent. Apart from liability and comprehensive, you can also add fire, theft and vandalism for a fee, which may be appropriate if you live in an area with a high crime rate, or simply for added peace of mind.

If you are familiar with how car insurance works when you make a claim, before the insurance company does anything, you are required to pay a fee which is referred to as a deductible. When getting your policy, you have the option to choose how high your deductible will be. If you are a safe, or experienced driver, it may be to your advantage to opt for a higher deductible, as it can lower your insurance premiums by up to 40 percent. New drivers may prefer to stick with a lower deductible, as the risk of having to make a claim are greater. This is a very simplified version of how car insurance operates, for further details, please consult an insurance professional.

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When you’re shopping for car insurance for your teenage driver, keep in mind the type of car he or she drives can affect how much you pay. Even more importantly, you want to make sure your teen is driving a car that provides extra safety to compensate for their lack of experience. Here are some things to consider.

Stay away from a sporty, high performance vehicle. Car insurance companies will most likely charge a higher rate for sports cars. What’s more, this kind of car can encourage your child to drive recklessly and increase the chance that they’ll get into an accident.

Get a car with safety features. Front and side-impact air bags, anti-lock brakes (ABS) and good crash test performance in a vehicle will provide extra protection for your teen. These features also tend to save you some money on your auto insurance premium.

Older may be cheaper but not always safer. You’ll probably get a lower rate if your teen is the primary driver on an older vehicle. Depending upon how old the car is though, it may not have the safety features to help keep your child safer.

A larger car is usually safer than a smaller vehicle. This may or may not make a difference on how much your auto insurance costs, but a larger vehicle will give you peace of mind while your child is driving. However, an SUV is considered to be a more dangerous vehicle for teens — even though SUVs tend to be big. That’s because they are easier to roll.

Once you’ve determined the car your teen will be driving, shop around for comparison car insurance quotes. Rates and discounts can vary between companies, so it’s good to get at least three different quotes for the same coverages.

Scott Lunt is a freelance writer with over 15 years experience writing insurance-related articles. You can compare car insurance quotes for teen drivers and find more tips on saving on car, home, life, health and long-term care insurance at LowerYourInsurance.com.

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It can be really difficult to share your teenager’s enthusiasm when they are ready to start driving. For them, its exciting and fun. For you, its a knuckle-biting time full of worry about their safety and your bank account.

It’s important to plan for car insurance before your child actually starts driving. Unfortunately, it is going to cost your quite a bit more to insure your teenage driver. However, you can try to contain those costs while still making sure your child is protected:

• Start by comparison shopping. Get a quote from your current auto insurance company, and at least two or three other companies.
• If you plan to buy your child a car, a new sporty vehicle will cost considerably more to insure than an older, safer used auto.
• If you have multiple vehicles ask your insurance company to list your teenager as the driver on only one of your vehicles — preferably the oldest and least expensive one. Of course that is the vehicle your teenage needs to drive.
• Talk to your teenager about the financial importance of good grades. Many insurers offer good student discounts.

It’s not a good idea to reduce the limits of liability on your teenage driver, just to save some money. Teenage drivers are among the highest risk drivers on the road. If they cause an accident, you’ll be responsible for the difference between the limits on the policy and the actual damages.

If your child can keep a clean, accident-free driving record they will eventually be rewarded with lower rates. And you will be rewarded with peace of mind.

Scott Lunt is a freelance writer with over 15 years experience writing insurance-related articles. You can find more tips on saving on car, home, life, health and long-term care insurance at LowerYourInsurance.com.

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Did you know that all factors being equal, a female between the ages of 18 and 25 will pay less for car insurance than her male counterpart?

Insurance companies, probably for fear of upsetting would-be clients do not like to talk about this, but judging from the quotes they mostly give to women, women are considered less of a risk and will therefore generally tend to end up paying less for their auto insurance than men.

Usually car insurance companies scrutinize lots of figures and consider a wide range of different factors before they issue a car insurance quote to a prospect. The statistics that they usually look at very closely are related to their own claims experience.

It would seem from these figures and ultimately based on what they do end up charging, that women are a safer bet than men drivers. Of course it is a well know fact that women are bound to take less risks on the road and even in their driving most of the time. It would seem that based on this and other well known good driving habits that women tend to have, they seem to cause less accidents and therefore tend to make fewer claims on their auto insurance. This hardly comes as a surprise.

According to figures compiled by the Insurance Institute for Highway Safety (IIHS) more men than women die each year in motor vehicle accidents. The figures also show that men mostly drive more miles than women. That would increase the chances of having an accident for men and would therefore imply that these figures do not conclusively prove that women are safer drivers.

However the same statistics also highlight the fact that men are much more likely to engage in risky driving practices than women, including speeding and not using a safety belt.

Still, it is also significant to note that not all car insurance companies consider the gender of the prospect when issuing car insurance quotes. Yet another reason why it is a good idea to shop around widely for quotations before making up your mind on which insurance package to go for.

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The law requires liability insurance for all drivers and vehicles. This means that if you are involved in a serious accident, and it turns out that it was your fault, your insurance company will pay out any claims that are made against you. Extra coverage on your own vehicle, called comprehensive insurance, is optional.

Insurance companies based on a number of risk factors will calculate the price you pay for this insurance. Basically how it works is the more they feel you are at risk of crashing, and the more they think the resulting crash will cost them, the higher the premium youll pay.

Assessment

Common factors that will be used to assess the premium are the value of the car youre driving, the safety of that vehicle, the coverage you want, will there be deductibles or limits etc.? How much youll drive the car, how your driving record stands, how long youve held your license, your age, and if you are young, also your sex.

The premium is then calculated. Usually there is a flat per car, per year rate that everyone pays, regardless of other factors. The other factors will then alter this rate, generally upwards. So if your car is especially fast or dangerous your rate will be increased by a set amount. If it is very old, your rate goes up. If youve had one or more accidents in the past, your rate will go up. If youre young and male, your rate will go up. The more of these factors you satisfy, the more your rate will be going up.

Discounts

As a sales enhancement, many car insurers offer a low estimated future mileage discount to customers who predict that the car’s mileage will be below some stated limit during the next premium period. There is no verification involved and no additional charge if the car is subsequently driven more than the stated amount. This arbitrary discount tends to foster customer belief in the mistaken idea that miles are just one of many classification factors used to raise or lower prices from the territorial base rate. In fact, odometer miles (which insurers do not use) are not a factor but a metric - the only valid basis for measuring each car’s consumption of insurance protection in on-the-road use.

The best way to save on car insurance is to shop around, keep a good clean driving record, drive safely, and choose reliable cars that are not known for their power and speed.

Joseph Kenny is the webmaster of the insurance site http://www.insure121.com/ where you will find information, news and links to the leading providers of car insurance in the UK.

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We all want to save money and a big chunk I pay every month goes to my insurance company. Here are some ideas to save you some money.

Compare rates by finding sample rates at NAIC.org. You can also compare multiple companies at insweb.com except for allstate, progressive and state farm. Make sure your premium is in line with what other companies charge.

Up your deductible mines at $1000. Yes, it seems scary, but the average claim is every 8 years and in that time Ive had more than saved $1000. Also, if your older car is worth less than $2000, drop your collision and comprehensive coverage. Youll save enough in premiums in a few short years to pay for the car. Check kbb.com or Edmunds.com for used car values.

If I get in an accident, will my rates rise? Some insurance companies want you to pay 7-15% more on the front end for forgiveness in your first accident. But if youve been with a company for 5 years, theyll usually do it anyway. Check.

This tip will cost you money but could save you a boatload if you are in an accident. The state has minimum requirements for insurance coverage. Like, $50,000 per person, $100,000 per accident. Well, I increased mine to $100,000 and $300,000 and it only cost me about $3 per month. But with rising medical costs and lawsuits, this protects my assets yes my house and my other unsmashed car.

Now, more than before, your credit score has an effect on your insurance premiums. Make sure its OK at annualcreditreport.com. You can get one free credit report per year. Of course they want to keep your credit score number a secret and you have to pay for the actual number, but just use the free information to make sure your credit is OK. Premiums are based upon your driving record, type of vehicle and credit score.

I hope these tips can help you save money on your car insurance. We consumers can use all the help we can get.

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If you want to save money when you purchase your car insurance here are a few ways that can help you as you search for auto insurance.

First thing you can do is comparison shop. It cannot hurt to call around to see what other prices are out there. If the price is higher you know you are where you need to be and if you find a lower rate you always have the option to change. You can use information from Florida Department of Financial Services, or a similar department within your state, to help you decide. This Florida department can show you what types of coverage are out there and give you sample rates. You can do this for other states by using the National Association of Insurance commissioners web site. Armed with this information you can get quotes from a number of companies and find the best one for you.

Increasing deductibles is another way to lower your premium. A deductible is the portion of money you pay before the insurance company pays for damages or injuries. The higher your deductible is the less exposure the insurance company has, thus your premium will be lower. If you choose the highest deductible you can afford you may save hundreds of dollars over the term of your policy.

Dropping comprehensive and collision coverage on older cars is another way you can to save money on your insurance policy. This type of coverage protects your car if it is damaged or stolen. Usually it is the cash value of the vehicle at the time of a loss minus the deducible. On older vehicles the value is lowered already by depreciation. You need to take into consideration the premium you pay, the value of the vehicle and the deductible you have. You may be paying more for the coverage then the vehicle is worth. If there is a loan on the car, you may have to keep this coverage on the car until you pay off the loan. After the car loan is paid off it is your choice if to keep these types of coverage and at what levels.

Buying a more economical car may help reduce your insurance. Yes, driving that corvette is fun but if you want to save money maybe you can be driving something that is a little less expensive. Vehicles that are costly to fix or that have a higher chance to be stolen are generally higher priced as far as your insurance premium. There are reports that you can check to find out which cars are stolen more often. One of these types of reports is by The Highway Loss Data Institute. Parts and repair times also tend to me more costly on higher end vehicles. A vehicle that is easier to repair will save with labor costs thus help lower your premiums.

Some companies give discounts if you do not drive your car as much. If you live close to your job you may get discounts for this lower mileage usage. Some companies may also list the car as an occasional use vehicle based on the mileage, which can reduce your premiums.

Asking about which discounts are available is a great way of reducing your premium. Discounts are given for safety features such as airbags and anti-lock breaks. Anti theft systems can reduce costs as well. Owning a house, being married, driver training courses and having no tickets or accidents are all ways that may make it possible for you to be eligible for discounts. Getting a list of discounts from your company is a great way to reduce your costs.

Maintaining a good driving record is also a major determining factor on how much the premium will be. If you can maintain a safe driving record, one without violations and/or accidents, your rates will be lower then someone who is more reckless. Many companies give discounts if there are no violations on your driving record. This is due to the company potentially having less exposure insuring a driver with a clear driving record than the driver with multiple tickets and/or accidents.

One final way to save on insurance is to keep your policy enforced. By making payments on time and keeping your policy intact you avoid extra late fees and you avoid costly tickets for not carrying the proper type of coverage that your state requires. You avoid possible a suspension of your driver’s license and you also may be eligible for discounts for renewing your policy all by just keeping up with your premiums. Most companies will give renewal discounts as an incentive to stay with them and keep your policy valid and in good standing.

These are just some ways that you as a consumer may use to lower your insurance costs. Now get out there and start saving some money!

Visit http://www.carinsurance.com for Auto Insurance Rates.

James Diaz is a representative of CarInsurance.com. You can visit CarInsurance.com at http://www.carinsurance.com or contact them at 1-877-327-8728.

CarInsurance.com’s online insurance marketplace gives an opportunity to consumers and to insurance companies. We offer the ability to shop for car insurance online.

Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don’t have to drive your car to buy car insurance. Buy online… anytime!

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