Sunday, September 13, 2009
Cheap Vehicle Insurance Rate -- Simple But Proven Recommendations
1. For no reason should you allow your vehicle insurance policy to lapse.. You'll pay very expensive rates for a long time if you let this happen albeit by mistake. It's easy for this to happen to many folks as they are switching to another insurance provider.
A simple way to ensure you do NOT make this type of mistake is to maintain your old policy until you've confirmed that the new one is fully operational. As simple as this may seem, a lot of people are bearing the weight of higher rates because of this silly little oversight.
2. Paying your premium annually will result in more affordable rates than opting for monthly payments. Although this option is always less stressful, it is more expensive for some reasons..
Every check that is processed attracts a charge. In a year, your monthly checks would be processed separately because they are all separate transactions. You'll then have to pay the sum of twelve transaction fees..
That's just part of it: Insurers also incur higher admnistrative costs for your monthly premiums. For example, it costs insurers millions of dollars yearly to mail payment notices..
The additional administrative cost to your insurance provider is ultimately borne by you (that's in addition to their own markup for providing such a "convenient" alternative).
3. An easy but smart way of lowering your automobile insurance rate is by authorizing an EFT (Electronic Funds Transfer). This process authorizes your bank to credit your insurance provider with your payments without any intervention from you until you advise otherwise. This reduces costs by removing the need for payment notices or checks. Your premium is therefore reduced in line with the cheaper cost of giving you insurance.
4. You can reduce your auto insurance premium by getting and comparing quotes from at least five reputable insurance quotes sites.
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