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May '14

Options for Auto Insurance Premium Payments

Owning an automobile comes with responsibilities and costs. If you are not careful these costs can add up pretty quickly to turn into a real financial burden. There are a few ways of reducing these cots. Some of them are; finding a reasonably priced mechanic, lower price fuel and insurance policies. You can also reduce fuel costs by following some basic guidelines.

If you are a good driver with no claim in the last three years you can probably qualify for large savings. Otherwise, you may have to find other ways of cutting costs. Shopping around for the best deals is another good way of finding cheaper auto insurance policies coverage. Rates charged by each insurer is different and the type of discounts available and their size is different as well.

Furthermore, the way you pay the premium once it is agreed can save you money. Or you may want to choose an option that is easier for your monthly budget if you cannot pay all at once. That is why it becomes important to check the options available with each insurer. Generally, they provide several options. But few of them may want to receive their premium a lot faster than others.

There are numerous ways to pay your vehicle insurance premium:

Monthly payments: This is the most commonly chosen way of paying premiums. Using this method, you can spread the costs over instead of having to come up with the whole amount now. So if you have a fixed monthly income and not much spare money in the bank you will probably need to choose this method of payment.

However, paying the premium using this method can be costly as many companies charge interest when the payment is differed. Therefore, you end up paying more at the end than agreed premium. Also, you may not get some discounts as carriers will only offer them to motorists who are happy to pay all at once.

Bi-Monthly payment: Some insurance providers also give you the opportunity to pay your premium once in every two months. Alternatively, they can devide to payments to 3 or 4 payments. This gives you a little relief as you do not have to pay on monthly basis, but at the same time you have to pay larger amount every two months.

Annual payment: Making payment annually means two things for carriers. They have extra assurance that you will stay until the end of the policy term. And of course they receive the money upfront and use it the way they like. This makes life easier for customers since they do not have to worry about insurance coverage lapsing due to missed payments. You will have a peace of mind that it is paid and you are insured.

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As mentioned above full upfront payment can qualify you for up to ten percent discounts with a few companies. This method requires means to come up with this money. Alternatively, you may consider charging it to your credit card and deal with it accordingly. Credit cards offer a lot more flexibility with how you pay them back. With most cards, you don’t get charged any interest for the amounts you paid back within as long as two months.

You should always make sure that premium is paid on time whichever method you choose. Otherwise, you will face policy cancellations and it will not look good to have lapses in your coverage. If you are struggling to make the monthly payment you should talk to the carrier. A reasonable auto insurer can give you few days more before they cancel the policy.

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Jan '14

Car Thefts and Insurance Rates

According to the statistical data from the Federal Bureau of Investigation’s Uniformed Crime Reports one car is stolen every 30 seconds in the USA. This makes it a serious crime that requires large resources to tackle. Also, auto theft costs a fortune to insurers every year that affects the car insurance rates for every motorist.

auto theftThe likelihood of losing a vehicle to criminals is one in about two hundred, with the chances accelerating in urbanized areas. Over 1,000,000 automobiles are taken annually in the country. The Western states accounted for the biggest share of stolen automobiles recently with nearly 40%. If you lost your vehicle, report it to the authorities instantly and then call in a claim to your auto insurer.

Unfortunately, the figures are not bright for vehicle owners. Auto theft is probably one of the commonest crimes committed every year in the US, with California being the number one state for highest number of stolen autos.

Drivers have the choice of buying a comprehensive coverage that includes auto theft protection. If they live or work in an high vehicle crime area they shouldn’t take chances by ignoring this cover. For new car this is something you shouldn’t even think about and just go ahead with it. You have a large investment on your automobile and you want to protect it.

Unfortunately, the figures doesn’t help when rates are determined. Car insurance companies will have to charge the costs of paying these claims back to motorists. If you had a theft claim recently, you will see considerable increase on your premium at the next renewal.

The whole automobile does not have to be nicked for it to be considered a theft. Parts of automobiles can be taken like airbags, sound system, wheels and other parts. Some insurance firms will be offering their clients a reduction on their auto coverage if they install anti-theft protection devices in their cars. Some others will charge more if you are living or working near high crime areas.

When you notice an increase on your premium you should look around for better quotes. The increase may be related to high sums of claims in the last a few years. Or it may be that your current provider wants to make more money now. Remember that you have options available to you in the way of other companies.

If you own a vehicle that is one of the models that is stolen very often across the country you may have to pay higher premiums as well. Those automobiles include the 1994 Honda treaty, 1995 Honda Civic, 1989 Toyota Camry, 1997 Ford F-150 Series Pickup, 2004 Dodge Ram Pickup, two thousand Dodge Caravan, 1996 Jeep Cherokee/Grand Cherokee, 1994 Acura Integra, 1999 Ford Taurus and the 2002 Ford Explorer.

If your car or parts of your automobile are stolen, your auto insurance costs will rise. If you’ve got comprehensive coverage in your policy you are entitled to compensation. Your premiums won’t permanently stay at a raised rate and should fall back to their standard rate over a period of three years. This should offer you some sort of relief.

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Sep '13

Top Notch Auto Insurance Policy Protection

proper vehicle insuranceThese days owning an automobile is not a luxury but necessity for most people. It is hard to get around without a private vehicle in large parts of the United States of America. This is probably even more of a problem in other countries around the world. People need a vehicle on hand to carry their work tasks and other domestic duties timely and efficiently.

Unfortunately, numbers of train and bus services are on the decline. This creates a chicken and egg situation. Because people have cars they do not need the public transport services as much. Since they are not used they get cut down and people become more dependent on their own transport.
Owning a car comes with responsibilities of maintaining and insuring it properly. In most countries, authorities do not leave it to choice of owners to buy liabilities coverage for driving a vehicle on public roads. Once you start driving on public roads, you are likely to come in contact with other road users and potentially cause them damages.

It is universally accepted that innocent third parties should be compensated properly if they ever get hit by a car or suffer financial losses due to accidents. Therefore, the legislators step in and set a minimum level of auto insurance liabilities cover for everyone who likes to drive.

These laws are enforced by police officers and courts. When a motorist is found to be driving without acceptable policy, they will definitely get a fine. This can go up to receiving license point deductions and license suspensions in case of repeat incidents. Many states equip their officers with technology to identify the vehicles on the road without insurance.

Generally, car insurers operating in your state know these requirements and do not sell policies that are short of meeting them. Liabilities section is mandatory and starting component of an automobile insurance policy. The only question to consider for a motorist is the adequacy of these basic requirements.

While states have to make sure that third parties are properly protected they also have to ensure the affordability of the terms enforced. Otherwise, they end up with many uninsured drivers. That is why it may be sensible to go over the minimums insisted.

The next step is to consider how best owners can insure cars. People invest considerable amount of money when they buy an automobile especially new one. And they do not have the funds or the luxury of just getting another one if something happens to it. That is why insuring it properly is the only option for most people. It is not a big deal to pay premium instalments. But it is not easy to come up with the cash to buy a car.

Comprehensive and collision coverage together provides sufficient auto owners insurance on top of third parties cover. Collision coverage is for the losses suffered due to crashes regardless of the fault. Comprehensive part of a policy pays for any other damages to an insured vehicle including theft, vandalism, weather and nature related losses and accidental damages. Basically, it includes anything else but collision. Together they can set an auto owners mind at peace.

There are many other additions to a policy. However, majority of motorists have budget restrictions to limit them from buying further extras. These can be gap insurance, rental reimbursements, legal protection against court costs, life insurance and personal injury protection, although it is nowhere near a full list.

Lastly, owners must make sure that anyone else they allow to drive the auto is covered as well. Usually, a vehicle and the liabilities to third parties should be insured under auto owners insurance regardless of who is allowed to drive it. Other drivers who are not named in the policy may be able to benefit from the coverage if the necessary arrangements have been made in advance. The best is to discuss the position with the insurer before allowing others access to vehicles owned.

It is essential that the information provided while purchasing a policy should be accurate. Wrong or misleading details can cause problems when a claim is made. For example, any modifications made on vehicles should be mentioned and details provided as requested. Policyholders should endeavor to keep these particular up to date to the best of their knowledge and ability.

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May '13

You Can Save by Taking Your Old Car Off the Road

Owning automobiles is a costly business and many motorists love to find a way to lower these expenses. There are a few options available to motorists who want to bring down cost of automobile ownership. One of them is to reduce the number of vehicles a family keeps. Another one is to find affordable auto insurance policies for all of them.

Old Vintage CarYou would want to buy a policy that suits your current circumstances and autos you own. Every motorist has unique requirements and policy needs. Vehicle insurance charges are determined generally by someone’s driving record as well as the kind of automobile they drive.

Some autos cost more to insure due to their age, complications and costs of finding replacement parts for repairs and the likelihood of them being stolen or vandalized. More recent cars may cost a little more to insure if they’re funded or leased because finance establishments need these autos to be insured fully, including comprehensive, collision and gap coverage.

Older cars can cost rather less to insure in a number of cases because most folks customarily refuse to add on optional coverage, choosing to buy liabilities only cover. Liabilities policies cover damages to someone else’s auto as well as injuries to other drivers, passengers, and pedestrians. It does not cover damages to the driver’s automobile.

The explanation many people don’t add on crash or full coverage is often because a deductible must be paid by the driver before the insurer will pay their portion. In several cases, the deductible might be more than the vehicle is worth. Also, damages to the auto may surpass the price to mend it.

If this is the case, the insurance firm will be offering a money payout as an alternative. Older cars can regularly pose a more serious risk for accidents. This is due to the fact that the older a vehicle is, the more probable it’ll need repairs and the more probable it may fall victim to mechanical or physical screw ups.

Many issues can happen in the motor that will cause the auto to swerve or fail and this can often lead to more collisions. In turn, the driver will be stuck paying higher insurance cover rates if they have responsible accidents on their record.

Exchanging an older conveyance for a more recent, more trustworthy one can basically save a driver extra money ultimately on insurance fees. Always debate your insurance desires with your auto insurer’s agent. If you’re purchasing online vehicle insurance quotes, you can find inexpensive vehicle insurance that fits your wishes.

If you need further help or if you have extra questions on your policy, you must ensure that the insurance corporation you select offers twenty-four/seven help with a toll free telephone number to call and a genuine, live person to chat to.

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Nov '12

Auto Insurance Deductible: You Could Save Money

Your vehicle insurance deductibles are one of a few factors that firms use to set the premium on your auto insurance. It can be a good tool to adjust your coverage levels and costs. Possible ways of utilizing this facility will be discussed below.

It is very important to have deductibles you can meet if you get into an accident. But raising your deductible can mean you save on premium payments.  A deductible is the sum of money you pay when you make a claim due to accidents, other damages and stolen vehicles before the insurance firm will pay anything. This is assuming you have sufficient cover for the damages claimed.

As an example, if you have two dollar deductible and your vehicle requires five hundred dollar worth of repairs, then you have to pay the two hundred dollars before the insurer is going to pay the three hundred dollars to cover the damage to the vehicle.

One of the most important things to think about when deciding to raise deductibles is quite simple; are you able to afford to pay for the deductible if you get into an accident or when your vehicle may be stolen? If not, set aside some money in the bank. This will be a great help in times of emergency.

expensive car insuranceWhen you have enough money saved you can raise your deductible which will reduce your monthly premiums. If you are a safe driver, you may save yourself hundreds, if not thousands of dollars. Over time, you will save more in reduced premiums than the amount you may pay in automobile insurance deductibles. The best way of determining the effectiveness of this strategy is to get quotes with different amount of deductible figures.

Do you have a good driving record? Then statistically you have less of chance to have an accident, and raising your deductible is a cost effective solution. Driving records include past accidents and traffic violations that automobile insurance firms use when deciding how much to charge a driver.

You may want to use insurance statistics as well when making the choice about raising your deductible. If you happen to have a good driving record for a while, likelihood of maintaining it is high. So, raising your deductible is an agreeable choice for careful drivers.

Other issues to think about are where you reside and how much you drive. If you live in a location which doesn’t have a lot of traffic or a high rate of car theft, then raising your deductible is a good idea.  Another thing to consider is if you telecommute, use public transport to get to work, or drive minimally, raising your deductibles is a plan that may save you cash.

No matter if the economy is good or bad, saving maximum amount of cash is usually beneficial. There are several other ways of bringing car insurance rates down. You can read more about them here or get several quotes to see your options. Going over coverage requirements and policies in place is a necessary task and should be carried out at least once a year. Making slight adjustments may be all you need to have a great coverage at reasonable prices.

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Oct '12

How to Lower Automobile Insurance in Few Minutes

People have different ways to run their businesses. Often, loyal customers are treated well and given the best discounts compared to others. They are the first one to receive a newsletter of the new product or an item that he or she had asked later. The same thing happens to the friends and loyal employees. But this is somehow not always the case in the financial services industry. When new buyers come, they tend to be given better rates than the old and loyal policy holders.

These companies like to control even bigger share of the market and therefore they need new customers. They spend most of their energy to attract them. And they are not much worried about you leaving as not many people do for various reasons. This is despite the fact that you have been buying policies for a few years. Insurers believe in the statistics which shows that policyholders rarely move to another company.

low car insurance ratesPolicyholders also do not like going round getting auto insurance quotes from several insurers. So they stay with the current insurer. Current customers need very little maintenance especially good drivers who do not make any claims. It can go one sided for many years when you do not make a claim. You pay the premium in exchange for a paper called policy.

The auto insurance companies do their calculations daily in order to ensure that they are doing well and find out where they are supposed to adjust. If they find themselves in a sticky situation with losses they will have to raise the rates and pass the ball to customers. This means that you will pay more unless you do something about it.

In many cases, when a new company hits the market and gets more customers day in day out, only few people who are actively looking for lower rates will notice them. Many of people whose vehicles are insured won’t even notice there is such a company. They tend to be partial with some brands they know than finding out about new ones. And so the old policyholders will not go away for the sake of several hundred dollars.

This gives answer to the question that you could have asked yourself which is why do new policyholders are given better rates. If you look back from the time you joined your insurer, the case was same. You were given great deals that attracted you. If you think of it, you will notice this as the main tool for getting new customers. This is actually one of the best ways to convince a driver to leave the current insurer especially when they are disappointed.

Some companies have marketing periods though you can register with them at any time. During this period they come with excellent packages and reasonable rates which are different from the ones that they already have for the old customers. The premium will be very reasonable to ensure whoever comes across will go for it. To escape from this kind of a business trap, be wise. Understand how business is done. Remember during the renewal period you can go get a lot of quotes and challenge your insurer with it.

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Jul '12

Auto Insurance Companies in the USA

There are conflicting opinions about this subject. The most misguided of them is thinking that the auto insurance quotes will be similar regardless of which company you go. Some people keep suggesting that rates are checked by state insurance commissioner and therefore cannot be much different. These checks have no effect on the competitiveness of the rates. Otherwise, the state might as well set the rates.

The best way of testing competitiveness is to get quotes from various companies and see how the premium offers would vary. By doing that you clear yourself from theoretical, academic or street arguments and start dealing with black and white figures. You offer the same particulars to several companies’ online quote forms and see the quotes coming. Since the details given are all the same the only difference would be the price.

These studies has already been carried out by others and they found that even for basic liabilities coverage the premium difference can be as much as thousand dollars between two top ten companies. If an auto insurer takes a particular objection to insuring you the rates they offer will tell this load and clear. In that case, your best option is to look somewhere else.

choosing a car insurerToday, companies are using so many different factors that it is hard to tell which company will offer you the best rate. Company A might find your credit score too low, Company B may not like you because of claim history and Company C may find your zip code undesirable. This is in fact what is really going on when you are getting quotes. You are either being priced out or invited in.

There is nothing personal either. A computer is going to decide how much you should be charged based on the information you provided. That is why it is highly advisable that you do not start liking a particular company before you see their quotes. Rather you choose out of the best 3 quotes eliminating the ones coming way off from the rest of the premiums offers.

Normally, the premiums for the same type of risk should be coming around twenty percent bracket. In other words, the cheapest one should be about twenty percent cheaper than the most expensive one. This is the sign of a competitive market. The prices should come together as the most expensive ones are priced out of the market and forced to cut the rates.

This does not seem to happen in the auto insurance market. An applicant can get really wide range of quotes. It is maybe complicated for us to understand why this is the case. In fact, we do not even need to understand why this is the case. All we need to know is that you could be saving hundreds of dollars when you find a highly competitive insurer.

Buying auto policies without comparing quotes is being naïve about the whole situation. You should really look after your wallet since the money spent will never be coming back to you no matter how desperately you will need it in the future.

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Jun '12

Purchasing Automobile Insurance Direct

Quite a few people state that they are interested in changing their auto insurers when a survey asked. Although a few of them never bother to get a quote the willingness to consider is what a TV advertisement is addressing to. An effective TV campaign will be remembered for a while. And the company will keep doing it as long as it is profitable.

Younger generations are more likely to see an advert and act on it than older drivers. Auto insurers are competing for advertising space as well as large share of the market. There are always at least two or three of them running in the same time. And usually they are from relatively larger companies. They like to make sure that whenever you need insurance they are there. Once a customer makes a switch they are likely to stay around several years. That is why getting their attention is so important.

When motorists are looking at adverts they are not normally being informed about products. The insurer takes it from one angle. For example they like to run home the information that they are cheap and go with it over and over again. They count on repetition to carve their messages on your brain.

People seem to go with the company for several reasons. One of them is that they are influenced by the moto in the advertisements. They somehow appeal to them and they remember the company when they need coverage. That is probably the aim of the advertiser in the first place. Make an impression and stay on buyers mind.

Although there is not much you can learn about the company from their TV adverts it is a starting point for many people. This is like a calling card you keep on the corner of your brain and you remember it is there when you need. It is one way of finding companies and there are always several of them there. No harm in getting quotes from them.

The one problem is that people do not get enough quotes. That is why the heaviest advertisers may win most of the swing customers. They are there when you need them and they are likely to win if you are not going to look somewhere else. This aspect of TV advertisements is great for the company but not good for shoppers.

Look at other sources of recommendations as well. For example, a simple online search will reveal a few names for you to go to. An auto insurance comparison site will display several options as well. Most of those options will be the larger companies.  You will be able recognize some of them.

Another option is to ask recommendations especially from people who have had a claim. This is a good way of telling that the company is responsive to customer needs. Asking a broker is a good alternative as well. They are dealing with many companies on a daily bases that they are in a good position not only recommend an insurer but policies and coverage options as well.

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Apr '12

How to Insure Automobiles Cheaper?

Accidents are not predictable there is no question about it. However it is predictable what type of accidents you may have and take actions to reduce the damages. Many motorists are worried about big accidents and it is understandable. However, most of the accidents are small. If you look around when you are on the streets you will see several cars within an hour that has knocks on the front or the back of it. They are damages but not big enough to cause a serious concern or stop them driving.

Also, it is a serious concern to stop traffic accident related deaths. There are a few organizations who work on safety solution. Car manufacturers invest considerable amount of money to develop technologies as well to make their car stronger. Lately, the attention is moved to accident prevention. Here are a few things you can install on your automobile that will keep your insurer happy and car insurance rates low.

happy with low ratesHazard Detection Solutions

Thanks to latest technology on GPS and internet new devices can detect the accidents and hazards ahead and warn the drivers in real time. Reports suggest that these solutions do help in reducing accidents. Also modern brake systems keep the vehicles more stable when you brake even in the toughest conditions. A few of these features come as standard in some of the new model cars. That is why you may actually see improvement in your premiums even though you have a brand new automobile to insure.

Better Seat Belts and Air Bags

Sometimes simplest solutions are the best. While companies are trying hard to produce a flying car the basic improvements on seat belts and air bags are the one make a serious change in your survival following a crash. It always pays to shop around when you are buying a new car and check the insurance ratings of the alternative models. The ones which are liked and offered lower rates by insurers are the ones usually the safest for your family.

Increasing Anti-theft Devices

Auto theft is still one of the major problems for insurers. This is specially the case in big cities and rougher neighborhoods. Think about a case where a common auto thief has a choice between a high end car and an ordinary one. Which one do you think he would go and try to steal? The clue is that Honda Civic is constantly the most stolen vehicle in the United States of America. They prefer the automobile with least complicated anti-theft devices.

Back-up Cameras

This is a new phenomenon as well that you can see on many new automobiles. When you can see clearly what is behind you can reverse safely. This simple camera device prevents thousands of small accidents and it can prevent even big crashes and deaths. That is why auto insurers like them. It may give extra piece of mind to drivers as well.

New Tires

Again, we do not need to always think sophisticated solutions when it comes to avoiding accidents. Top of the range new tires increase traction and reduce stopping times noticeably. Drivers should keep checking their tires and change when the tires are not being much helpful anymore. This also reduces accidents following puncture on the road.

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Nov '11

Keeping Gas Prices & Auto Insurance Low

Is it for real that gas prices will affect my insurance premiums? Maybe this has never hit your mind but it is a fact. Just like how the cost of petrol will affect the cost of coverage. The positive side of it is that when the cost goes down you can use your vehicle as frequent as you want. On the other hand, price rise forces you to use a bike or public transport when going to work or for any other function to cut down some cost. Gas costs can influence the way you use the automobile and therefore change the premiums.

These are some of the factors that will determine how much you pay for the premium. This is one of the things that surprise a lot of people when they approach an insuring agent or a company. They do not realize how the external factors are affecting their insurance costs directly or indirectly.

gas pricesIf you are wondering how you can have premiums reduced in case the gas price goes high, it is just a matter of talking to your insurer for guidelines. Remember in this case you will not be able to drive your vehicle more thereby reducing accident chances which qualifies you to a deduction. These are some of the things that will cut down insurance cost. If you let your insurer know how frequently you will be using your car it can help you a lot.

When the cost of gas rises everything goes high and it affects the cost of living. This is because of purchasing home necessities and paying pills. Everything is transported from the point of manufacturing to the point of sale. Any increase in the gas costs will be reflected on the prices. This will squeeze your budget and you will have to look for ways of saving money. Since it is directly affected, you will be looking at the costs of running your auto.

This opens chances of vehicle insurance crimes. This happens when a vehicle owner fakes an accident so that he can be paid by the insurance. When the number of such incidents and amount of money stolen away increases it forces companies increase their rates affecting all buyers. Another factor that increases insurance cost is the increased claims which will make the companies have a hard look at premiums collected. This may burden the company thereby charges for every buyer.

Petrol cost is a factor that causes an auto owner to spend more. When the cost rises, they have to find another place to cut costs. One of the factors that may lower the costs discussed above is the car usage. This may cause some cost deduction. Motorists will have options available to them to lower the burden of high gas prices.

One of them is to shop around for cheap auto insurance quotes. This option is successfully used by many motorists to shave a few hundred dollars off the premium. There is no harm in checking what else available out there for you.

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