Author: carinsuranceportal

Save on Car Insurance: How to Get Lower Auto Insurance Rates

Save on Car Insurance: How to Get Lower Auto Insurance Rates

It pays to shop around. Call both independent and captive agents. Independent agents represent multiple insurance companies and captive agents represent a single company. Contacting both kinds of insurance agents gives a bigger choice of insurance companies and the best chance of getting the lowest possible rate.

Get the Discounts

Discounts are available on car insurance for people who have their home, condo or renter’s insurance through the same company. Some companies offer a discount just for owning a home or a condo. There are also discounts for being claims free, for renewing a policy, for being a AAA member, for taking driver safety courses, for being a single parent with custody of a child, for purchasing the policy 7+ days in advance of the effective date and for paying the policy premium in full.

Increase the Collision Deductible

The collision deductible has a much greater effect on the premium than the comprehensive deductible. For example, someone with a comprehensive and collision deductible of $250 would save a significant amount of money by raising their collision deductible to $500. Keep the collision deductible as high as possible and shell out less money to the insurance company.

For older cars that don’t have a lien, money can be saved by foregoing the collision coverage altogether. Keep the comprehensive and purchase UMPD (Uninsured Motorist Property Damage). UMPD is much less expensive than collision. Collision coverage only covers the actual cash value of the vehicle, which isn’t much for older cars. The car will still be covered for everything collision covers except at fault accidents.

Avoid Filing Claims

Claims that are filed against insurance companies affect the premiums even if nothing is paid. Insurance should be reserved for big, unmanageable expenses. For example, small claims that could easily be handled by the insured, such as towing, should not be filed. If the cost to repair a vehicle is less than or equal to the deductible, filing a claim would not be wise. The fewer the claims, the lower the rate.

Save Police Reports for Not at Fault Accidents

Insurance companies are highly automated these days and a great deal of the underwriting is done by computers. When reports are run, the computer underwriter automatically assumes all accidents are chargeable. It is up to the insured to show proof of not at fault accidents. Police reports should be saved for three years. This information applies to most, but not all states.

Get a Better Payment Plan

The installment fees that insurance companies charge can really add up. For example, a twelve pay, direct bill plan with a fee of $11 per installment adds up to $132.00 in extra charges! These fees can be avoided by paying the policy premium in full or by enrolling in an automatic bank draft payment plan. When insurance companies do not have to send out paper statements every month, it saves them money. This, in turn, saves money for the policy holder.

Choose the Right Policy Term

People with clean driving records should choose a twelve month policy instead of a six month policy. This locks in the rate for a longer period of time. Plus, if the insured gets a speeding ticket during the policy term it won’t affect the rate until the next renewal. A six month policy is good for people with tickets or accidents coming off their records within six to eleven months because driving record changes don’t affect the rate until the next renewal. For people who can pay in full for a six month policy but not for a twelve month policy, getting a six month policy will eliminate installment fees and give an additional discount.

It’s so easy to eliminate unnecessary costs on car insurance. Take advantage of the competition between insurance companies and get a better rate. People should check with their agent to make sure they’re getting all the discounts that are available. Excessive fees can be avoided by choosing a better payment plan. Rates can be kept lower by not filing claims whenever possible. Changing the policy term can sometimes save money. People who follow the steps outlined above can say hello to lower car insurance premiums!

Source: carfireexperts

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Save Money on Car Insurance: Tips You Can Use to Save Money When You’re Buying Auto Insurance

Save Money on Car Insurance: Tips You Can Use to Save Money When You’re Buying Auto Insurance

If you’re paying a lot for your auto insurance, you may want to shop around and compare prices to see if you can get a better deal before you buy. You may also be eligible for discounts on your auto insurance policy. There are a number of ways you can save on your car insurance.

Auto Insurance Discounts

You may be eligible for auto insurance discounts. The most common discounts for car insurance include association or car club memberships, having multiple policies with the same insurance company, senior citizen discounts, safety and security equipment (like airbags, car alarms and seat belts), a clean driving record or completing a defensive driver course. Students under 25 can also receive discounts if they have very good to excellent grades. New cars may also be eligible for a better rate on car insurance premiums. All of these auto insurance discounts vary by insurance company. There may be more or less discounts available depending upon where you live and who insures your vehicle.

Increase Your Deductibles to Save Money on Auto Insurance

If you increase your deductibles you can also save money on your auto insurance policy. Insurance agents and insurance comparison websites will encourage you to select standard options for deductibles, but you have the freedom to choose the coverages you want to save money on your auto insurance. You can increase your comprehensive and collision deductibles and shave money off of your auto insurance premiums. You can also eliminate comprehensive and collision coverages altogether and just get a “liability only” auto insurance policy to save money. Before you increase your deductibles or drop comp and collision, make sure you can afford to pay for an accident out of pocket.

Compare Auto Insurance Policy Costs Before You Buy

Shop online to compare auto insurance policy prices before you buy a policy. You can use comparison websites to find insurance at the best rates. Before you sign up for the least expensive policy, make sure you’ve selected an insurance company that provides excellent customer service and superior claims service. You can research consumer reviews of insurance companies online in forums, blogs and websites. It’s always a good idea to talk to friends and family members before you buy auto insurance. Find out who they use for their car insurance and if they like the company.

How to Handle Minor Car Crashes: 5 Tips On What To Do In A Minor Accident Despite Your State of Shock

How to Handle Minor Car Crashes: 5 Tips On What To Do In A Minor Accident Despite Your State of Shock

Major car accidents where drivers are incapacitated are almost exclusively handled by emergency authorities. However, for minor collisions where the drivers are physically fine, the drivers are primarily responsible for everything from towing to rentals. Often, drivers are in a state of shock and are not often capable of making sound decisions. Here are five tips to ensure that you can better manage your fender-bender:

Find out what your deductible is for repairs

Most insurance companies allow you to increase your deductible in exchange for lower monthly rates. Weigh the risk of having to shell out more cash from your own pocket to cover the deductible versus saving money on monthly payments. The purpose of insurance is to cover damages without you having to pay out-of-pocket. The bigger the deductible, the more you’ll have to pay in an accident situation. Just in case, save enough money to cover your deductible in a protected rainy-day account.

Beware “good samaritans

Be cautious of anyone who suddenly comes to your aid after a crash. If he gets too nosy or suggests a shop or tow driver, he is likely a vulture from that repair shop or towing company who waits for accidents, and then shows up. By most provincial laws, you have the right to choose your tow driver, and to have your car towed to a shop of your choice, including police lots. If you insist on your shop, the driver must comply. Vultures count on your mental state to work in their favour, so assert yourself even if you’re still feeling stunned. Start taking your car to a regular garage and build a relationship with the staff. You’ll feel better about taking your vehicle to someone you trust.

Take pictures

A Brampton, Ontario man involved in a minor accident where he collided with a car. The other driver jumped out of her car and ran to check on him. When police arrived, she “suddenly” claimed whiplash, despite suffering no damage to her vehicle. When he started taking pictures with his cell camera, the other driver’s “condition” miraculously improved. Include items in the background for scale such as signs, check under the car for leaking fluids, points of contact between the vehicles, and licence plates.

Don’t volunteer extraneous information.

It is always possible for the other victims of the accident to sue you for personal damages. If the police ask you direct questions, answer them honestly, but do not volunteer redundant information that may be used against you. Volunteering seemingly minor facts – for instance, if you were “tired” or otherwise distracted before the crash – can be damaging in a civil case. State only the bare facts and avoid your own interpretations of the events.

If you already have a rental car company in mind, ensure that the tow truck driver takes you directly there and not somewhere else. Many smaller car rental companies offer finder-fees for tow truck drivers who net them clients from accidents. If you have no preference, then there is no problem, but make sure that the driver doesn’t quietly take you someplace you don’t want to be. Though cheaper, smaller companies are not necessarily reputable or accountable. If you do end up at a strange rental shop, make sure a representative goes with you to do a circle check of your new vehicle to verify existing damage, and read the fine print before signing off on any rental. Ask to check the wipers and dashboard instruments as well, including CD players and vents. If anything is inoperable, let them know before signing.

Lowest Car Insurance Rates: Websites That Compare Auto Insurance Rates Online

Lowest Car Insurance Rates: Websites That Compare Auto Insurance Rates Online

Often insurance agents or brokers quote the lowest car insurance rates but only from those insurance companies they represent. The fact is that many car insurers sell basically the same auto insurance coverage, but charge auto insurance premium rates that can differ by thousands of dollars.

Today the Internet enables consumers to shop for the lowest car insurance rates on user-friendly websites.

Comparing Car Insurance Rates

For example, Kanetix.ca accesses an online marketplace where Canadian or American residents enter pertinent information including their postal codes or zip codes. The Kanetix site then displays an auto insurance rate quote from participating insurers. Online car insurance rate quotes are not necessarily final nor are they legally binding. However, consumers can print off an auto insurance rates comparison and use the printout to determine their category’s highest auto insurance rates, lowest car insurance rates as well as average auto insurance rates.

InsuranceHotline.com is an international website that offers auto insurance rate comparisons to drivers in the United States, United Kingdom and Canada. InsuranceHotline calculates and presents the 3 best auto insurance rates from a database of participating auto insurers (over 30 in Canada). The site also provides referrals to insurance brokers, who often follow up the auto insurance rate quote with offers of help to switch coverage.

In addition, the Ontario government site fsco.ca has auto rate tutorials that deliver free car insurance rate comparisons online.

Car Insurance Rate Comparisons: An Example

A Toronto couple recently used the fsco website to run an auto insurance rates comparison. The 40-year-old male drives a Dodge Ram and the 39-year-old female drives a Dodge Neon. Both have good driving records.

The highest auto insurance rate was CDN$10,639 per year from Echelon General Insurance. That figure is almost 6 times higher than the lowest car insurance rate of CDN$1,808 from the Personal Insurance Company. Other low car insurance rates included the CDN$2,687 annual premium charged by RBC General Insurance, and CDN$2,703 levied by both Economical Mutual and Federation Insurance.

The average car insurance rate from more than 50 participating insurers was CDN$4,306 per year. Even the average annual premium is at least 40% below the highest auto insurance rates that range from CDN$7,302 at Zenith Insurance, CDN$7,838 at Kingsway General Insurance to the previously mentioned CDN$10,639 at Echelon.

To find the best car insurance rates, drivers around the world would do well to plan their own online auto insurance rate comparisons. One way to start is by entering the words best rates for auto insurance into a search engine like Google and researching the results.

Classic Car Insurance: Protecting Your Investment

Classic Car Insurance: Protecting Your Investment

There is nothing more exciting for an antique car collector than cruising down the road in an antique car. However, before you get to enjoy your classic vehicle, you must protect your interest by purchasing classic car insurance.

Unlike your everyday automobile insurance, the underwriting for classic car insurance is slightly different. It is strongly advised to use an insurance company whose specialty is classic and antique cars. A good place to begin looking for such a company is buyclassiccars.com. They have a listing of classic car insurers in the US, Canada and UK.

Here are a few things to be aware of when purchasing classic car insurance:

  1. Valuation: The classic car valuation clause is a bit different than what you would find on your family car. There are three different options to choose from:
      • Actual Cash Value: This means the insurer will use the current market value of the car and deduct depreciation. This type of valuation is fine for the family mini-van, but not for your classic car. If your classic car is highly valued, this type of clause is not the way to go. If your car is over 20 years old, depreciating the current value will not adequately reimburse you in the event of a loss.
      • Stated Amount: This type of valuation sets the maximum amount your insurance policy will pay in the event of a claim. It will pay the lesser of the following: 1) Stated amount, 2) the cost to repair the vehicle (but will not exceed the stated amount), or 3) the actual cash value. Because this valuation does not address the true value of your classic vehicle, this is not the recommended way to go.
      • Agreed Value: This valuation is just as it sounds. Both you and the insurance company agree upon the fair market value of the vehicle prior to binding coverage. At each policy renewal, the vehicle value is reviewed as the market value may fluctuate from year to year. This valuation works the best for all parties involved.
  2. Usage Ensure that your insurance provides coverage for the way you use your classic car. In addition to driving it to and from car shows, do you use it to run an occasional errand? Let’s face it, there is a ‘look at me’ quality to classic cars that driving them to and from car shows alone may not be enough. The additional ‘errand’ exposure is taken into consideration when underwriting a classic car, so before you get ready to show off your car buy purchasing a gallon of milk at the local store; make sure your car is covered for such trips.
  3. Garaging/Storage: Know how your insurance company wants you to store your classic car. Some policies require the car to be stored in a locked garage when not being driven. Many companies do not provide coverage if the vehicle is left unattended in a parking lot. Taking a long weekend trip in your antique car and leaving it in the hotel parking lot overnight might be a reason to deny coverage in the event of a loss.

Be sure to review the policy terms and conditions with your insurance agent to ensure your investment is properly protected.