If you elect to pay your premiums monthly, you'll pay higher rates. You may be told paying monthly is less stressful but what you're not told is how much extra you pay for this..
If you do transactions with banks you'll agree with me that each check you process is considered transaction which attracts charges. In a year, your monthly checks would be processed separately because they are all separate transactions. This means that transaction charges would be twelve times more for individual who make monthly payments.
Apart from this there are also administrative costs that come with the monthly payment option. For instantce, it costs some money to send payment notices monthly.
These costs plus a profit margin for this this "value-added service" is added to your rates making it higher than the same profile that pays yearly every year.
Insurers give give customers who have remained loyal a long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.
Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. Insurers offer these as incentives to keep you with them since it serves them better too.
However, what you may save by switching to another insurer might far outweigh all the incentives you'll get depending on what your rates are and how much another insurer is ready to offer.
If you want to keep your rates down, do NOT "pimp your ride." Things like changing your tires to bigger ones than specified by the manufacturer, adding equipment that will increase your car's horse-power will cost you a lot more.
Get Your Free Auto Insurance Quotes Now And Save!
It's a known fact that young drivers attract high rates. Worse still, if they are teenagers their auto insurance rates could be really high.
This means that you'll help keep your rates down if you do NOT have a teen driver on your policy. It will drive it up by a huge margin. Your teen driver should have his/her own policy. This will be made possible if you sign an exclusion form.
If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.
There are useful extras and there are those that do nothing but just inflate your rate. A good example of the later is adding a towing service to your policy. Do you know that your credit card company might have already given you towing as an extra benefit?
Overall, you're better off using a third pary towing service than placing it on your auto insurance policy.
And...
You can get lower rates on auto insurance today by visiting not less than five insurance quotes sites. Each quotes site will take you around 5 minutes or less to request quotes. (Some folks give details that is not really correct about themselves. That isn't a smart move as the quotes you'll get this way will NOT be of any use to you).
You'll simply select what represents the best auto insurance quote for you from the list of quotes received. That's all there is to it. Nevertheless you could realize savings hundreds of dollars.
If you do transactions with banks you'll agree with me that each check you process is considered transaction which attracts charges. In a year, your monthly checks would be processed separately because they are all separate transactions. This means that transaction charges would be twelve times more for individual who make monthly payments.
Apart from this there are also administrative costs that come with the monthly payment option. For instantce, it costs some money to send payment notices monthly.
These costs plus a profit margin for this this "value-added service" is added to your rates making it higher than the same profile that pays yearly every year.
Insurers give give customers who have remained loyal a long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.
Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. Insurers offer these as incentives to keep you with them since it serves them better too.
However, what you may save by switching to another insurer might far outweigh all the incentives you'll get depending on what your rates are and how much another insurer is ready to offer.
If you want to keep your rates down, do NOT "pimp your ride." Things like changing your tires to bigger ones than specified by the manufacturer, adding equipment that will increase your car's horse-power will cost you a lot more.
Get Your Free Auto Insurance Quotes Now And Save!
It's a known fact that young drivers attract high rates. Worse still, if they are teenagers their auto insurance rates could be really high.
This means that you'll help keep your rates down if you do NOT have a teen driver on your policy. It will drive it up by a huge margin. Your teen driver should have his/her own policy. This will be made possible if you sign an exclusion form.
If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.
There are useful extras and there are those that do nothing but just inflate your rate. A good example of the later is adding a towing service to your policy. Do you know that your credit card company might have already given you towing as an extra benefit?
Overall, you're better off using a third pary towing service than placing it on your auto insurance policy.
And...
You can get lower rates on auto insurance today by visiting not less than five insurance quotes sites. Each quotes site will take you around 5 minutes or less to request quotes. (Some folks give details that is not really correct about themselves. That isn't a smart move as the quotes you'll get this way will NOT be of any use to you).
You'll simply select what represents the best auto insurance quote for you from the list of quotes received. That's all there is to it. Nevertheless you could realize savings hundreds of dollars.
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