All posts in Auto Insurance

Beating the System: 6 Keys to Reduce Your Car Insurance Rate

by Carsurfer Admin on 2014/05/27 in Auto Insurance with Comments Off

One of the most perilous things that we can do is a drive a car. It can become a very severe or expensive situation if one driver makes a mistake. This potential high cost is transferred to car insurance premiums. There are many factors involved when it comes to determining car insurance rates. Insurance customers have no control over that part of it. There are some things that you do have control over. There are ways that you can reduce your car insurance rates.

Switch Vehicles

Every vehicle is assessed a different risk variable. This depends on a number of factors. This includes cost of replacement parts, crash test rating, classification, price, how often the model is stolen, and horsepower-to-weight ratio. You should avoid newer vehicles, expensive vehicles, sports cars, and those that are not considered top class when it comes to safety. These are generally smaller vehicles. Insurance make and model comparisons are reported every year. Every insurance company will share similar information if you ask for it.

Pay Up Front

If you pay for the year ahead all at once instead of paying a monthly payment, some insurers will offer a discount. You should pay up front if you have the cash on hand. If you switch insurers, you don’t have to worry about losing your cash. Your insurance company is required to pro-rate you the total bill. They will refund you for the days that you will not be covered under them.

Drive Safely

Your driving record is still considered to be one of the top factors that insurance companies look at. An accident or a traffic violation within the last few years can have a major impact on your premium. Some insurance companies look back about three years. Others look back further than that. You can also reduce your premium the longer you drive without any accidents or citations. There are also driving training courses that you can take as well. This can help reduce your car insurance. Some car companies have begun installing functions into their vehicles which automatically track avg mileage, driving patterns, speed patterns, and braking patterns among others. These features which are directly reported to insurance companies help them evaluate your risk to them. It is a potential savings option if you are confident in your driving.

Reduce Miles

If you drive less miles, a number of auto insurance companies will offer you a lower premium. You may want to consider moving closer to your job. This can save money on fuel and commute time. It will also reduce your car insurances rates. You can reduce your miles by doing this. There are pay-by-the-mile programs that are offered by insurance companies as well. This can cost you less if you rarely drive.

Improve Credit Score

Credit history is being looked at lot more by insurance companies. It is a much highly valued variable that helps insurance companies evaluate your financial standing. Financial standing holds a strong correlation to potential insurance loss. It is important to remember that the less you come across as a liability to insurance companies the cheaper your rates will be.

Purchase Vehicle With Theft Device

You can buy a vehicle with a theft device or you can have one installed. This is important to insurance companies because the liability factor of them having to cash your insurance decreases substantially.

There are plenty of ways to reduce your car insurance rates. Some of these options may vary in different states. You can also look into deductibles, safer car benefits, and sponsored programs to try to get a discount on your car insurance as well.

Informational credit to Drayden Insurance Ltd., an Edmonton car insurance company (free quotes).

5 Ridiculous Reasons You Pay More for Car Insurance

by Carsurfer Admin on 2014/05/21 in Auto Insurance with Comments Off

There is a good chance you may be wasting money on car insurance. This is not because you are a bad driver or a high risk. Sometimes people tend to overlook the best way to save money. There are some reasons why you may be paying more for car insurance.

Failing To Comparison Shop

You could be the kind of driver that sticks with one insurance company for years. This is fine in some cases. If you have a great history with an insurance company, that is probably the best bet. However, it doesn’t hurt to shop around. You may save a lot of money by going to another provider. There may also be some insights gained. An outside agent may find some holes in your coverage that were overlooked. It is a good idea to take a yearly look around to see what is available. This is the best time to do this because your policy is up for renewal around this time. Drivers can search for better rates anytime of the year.

Not Combining Policies

Most insurance companies provide deep discounts. This is done if you have car insurance and home insurance with the same provider. If you can, combine multiple policies with same provider. A lot of insurance advertise multi-policy discounts. These discounts can save you 10 percent or more off of your premium. You can save more when you package everything together.

Keeping Deductibles Too Low

Your premium may be too high if your deductibles are small. Your premium can be lowered by about 20 percent if you increase your deductible from $200 to $500. Make sure you have enough money to pay your deductible if you raise it. This helps if you should ever need to make a claim. You should keep the money in an emergency savings account. If you do not file a claim, then you can keep the savings. You will not waste money on a higher premium either way.

Not Asking For Discounts

Discounts for car insurance are given to teen drivers with good grades. There are members of some organizations that receive discounts as well. Those organizations include AARP or a college alumni association. An organization like AAA does not have a guarantee that membership will save you money on car insurance. Many members do find savings, discounts on shopping, emergency road assistance, and other benefits. You can talk to your insurance agent to see if you qualify for special car insurance discounts.

Paying Unnecessary Fees

Some auto insurance companies will charge you a service fee. They charge this fee every time you make a monthly payment. This amount is generally between $1 and $7 every month. These figures add up. Look for insurance companies that do not charge extra for monthly payments to lower your auto insurance rates. You can also try to save up and pay the whole premium when it is time to pay it. This eliminates monthly charges as well.

There are a lot of reasons why you pay may more for car insurance. Most drivers wind up paying more than they should when they purchase car insurance. Sometimes it can seem overwhelming and complicated. You can take your time and do a bit of research to review insurance quotes, drivers will be able to find the right policies at a reasonable price.

Five Steps You Can Take to Reduce Your Car Insurance

by Carsurfer Admin on 2014/03/31 in Auto Insurance with Comments Off

People will often complain about how much money they are paying for their auto insurance, but these same people will seldom take simple steps that can save them money on a car insurance policy. There are options out there that can help you greatly reduce your insurance costs.

The following are just five steps you can take that will most likely result in a lower cost policy.

Make sure you are not over insured

Too often people are paying for more insurance than they really need. An individual will have a brand new car fully insured, but over time the car depreciates, and there is less need for full coverage. In the case where you are making payments on a new car, the lender will demand that the car be fully insured, but once the car is paid off, you may not need all of the coverage that was mandatory with your car financing.

Add safety features to your car

You should contact your insurance agent first or at least get a quote, but most companies will offer discounts for specific anti-theft devices that are installed on a car. Where you park your car can also affect the premiums you pay. If you park your car in the garage instead of on the street, you may get a discount for this as well. With less chance of vandalism, your insurance rates will be less.

Combine insurance policies with one company

For those who are home owners, there are insurance companies that offer both auto and home owners insurance. They will commonly offer a discount for having both polices with them. This can mean a good discount in premiums for both insurance policies.

Pay for the entire policy instead of making payments

Although this is not always possible for financial reasons, in almost every case you will save money if you were to pay for the entire policy at once instead of three to five payments over a six month period.

Shop around

This would seem to be obvious, but so many people simply do not get several quotes. Even when a policy expires, they simply start paying on a new one with the same insurance company without attempting to get lower prices. If you get several quotes, you may be surprised at how much money can be saved on a car insurance policy.

Before you start looking for the best quotes from agents check to make sure you are following a few of these tips. Not all insurers are the same so agencies may place high reductions on one thing or another. Whether you take these tips to heart or not the most important thing to remember is that you don’t have to settle for the first quote you get.

Author Bio: Annette Hazard is a freelance writer that has suggested Trail Auto Tag Agency in the past. She often writes about business as well as ways to save money.

5 Ways to Make Your Auto Insurance Less Expensive

by Carsurfer Admin on 2014/01/29 in Auto Insurance with Comments Off

When people shop for car insurance, they are always trying to find the best deal at the lowest price. There are a few tricks that you can use which will help you to lower your car insurance as much as possible and still get the coverage you need.

Shop For The Best Rates

Getting the best coverage they can afford for their vehicles is imperative because you never know when you will really need your car insurance. Be sure to use the tools available on the Internet as well as word of mouth to do a comparison for the best rates, but also make sure that you get the coverage you need.

Ask About Discounts

Insurance companies traditionally offer a list of discounts for auto insurance policies that they do not publicize. When you are collecting quotes from different companies, always ask about any discounts the companies may have that will lower your premiums.

Consider Moving

It is always a smarter idea to move closer to your job, because it cuts down on the chances that you will get in an accident on the way to work. But moving to a better location can also be beneficial for your auto insurance rates. You will find that areas with lower crime statistics generally create lower insurance premiums as well. If you live closer to your job, then you can use the shortened distance as an auto insurance discount. The savings you will experience in vehicle maintenance, auto insurance premiums, and other costs would make the move to a new place a very smart idea.

Increase Your Deductible

If you can have your deductible raised from $100 per incident to $200 per incident, then you will save a lot of money per month on your auto insurance premiums. In the long run, the savings you will realize will help offset the extra deductible you would have to pay if you ever do get in an accident.

Install A Security Device In Your Vehicle

Insurance companies always appreciate any extra effort you make to try and secure your vehicle from crime. As you are shopping for insurance rates, ask the companies how much of a discount you will get if you installed a security system in your car.

With a little effort, you can find a lot of ways to save money on your auto insurance but if by some chance you are in an accident you can always call a injury lawyer to help you deal with the insurance company. In the end, the small savings you get can add up to big money in your wallet.

The Tax Man and Your Car

by Carsurfer Admin on 2013/02/19 in Auto Taxes with Comments Off

Yes, it is true. In some states property taxes are assessed on passenger vehicles, an annual fee that sometimes takes newcomers by surprise. After all, you already paid a handsome sales tax on your 2011 Cadillac CTS V-Series, now this. But, just like the property taxes you pay on your home, the taxes you pay on your vehicle may be contested. Read and we will look at how you can reduce your annual tax bit.

State Laws

There is no simple answer that you can give to explain what goes on in one state versus another state. Property taxes are set at the local level, therefore your particular state spells everything out.

There are two types of property taxes out there: real property and personal property. Real property includes homes, land and other real estate. Personal property includes your passenger vehicle including minivans, sedan, SUV, pickup trucks and motorcycles. In some states personal property can include house trailers and boats, therefore your tax burden can come in higher.

Tax Rates

What you need to determine is how your state imposes its tax rate on vehicles, an amount that should drop year over year. For unlike real property that usually appreciates, cars and like conveyances usually lose value. The $62,000 you shelled out when your V-Series was new is far higher than its current worth which is no more than $39,000 today, reflecting two years of intense driving and 40,000 miles on the odometer. That estimate comes courtesy of Kelley Blue Book.

And it could be just that book value where you have a leg to stand on with your state. You need to check your tax bill when it arrives and compare the value the state has assessed with its actual value. Your position is stronger if your state assesses vehicles based on its "true value in money" or what it would fetch if sold on the market. With some cars, a $10,000 difference in value is possible, spelling a tax differential of $100 to $200 or more.

Fighting Back

If you notice a difference in values, how should you respond? First, check your tax bill and read it carefully. On the back or on the side there should be information about filing a tax challenge or a link to a website that spells out that information.

Second, follow your state’s precise procedure for filling a personal property tax appeal. Just like an appeal with real property, likely you have a narrow window to file one. Typically, that will be 30 and not more than 60 days after the tax notice has been sent out. If you miss the deadline, you may have to wait a full year to appeal.

Your Proof

Expect that as you build your case, you will have to show proof of your vehicle’s condition and mileage. This may mean having your mechanic sign an odometer statement, verifying that your vehicle has gone far more miles than what the state estimates. Your state, of course, is the final arbitrator for all tax matters, therefore understand what is required for where you live and follow those instructions precisely.

Author Information
Jenny Sampson is a professional blogger that enjoys providing consumers with personal finance advice. She writes for TitleMax.biz, a leading Title Loan company offering loans for people with bad credit.