Sunday, November 8, 2009
Lower Vehicle Insurance Rate -- Easy But Guaranteed Ideas
1. Do your utmost to always ensure your car insurance does NOT lapse. You'll pay more expensive rates for a long time if you let this happen albeit by mistake. It's easy for this to happen to many folks when they are changing to another insurer.
Don't cancel your old policy until the new one is fully functional and you'll not make this costly mistake. It looks simple but, take it or leave it, many individuals are paying higher rates today just because they overlooked this.
Insurance Quote
2. You will attract cheaper rates if you elect to pay your premiums annually and not monthly. Yes, paying monthly might be less stressful but they are also less affordable.
Each check that is processed attracts a fee. While annual payment calls for just one check and therefore one transaction for a year, monthly payments attrract twelve. This implies that transaction charges would be 12 times more for people who pay monthly.
There are also administrative costs to your insurer that result just from taking monthly payments. For example, it costs some money to send payment notices each and every month.
These costs plus a profit margin for this this "value-added service" is included in your rates making it more than another of the same profile that pays yearly every year.
3. You might not be enjoying some concessions you qualify for with your preferred insurer simply because you are not aware of them. Your agent may, choose to overlook some discounts that you are eligible for. You'll know simply by telling your agent that you want to be sure you have been informed about every discount possible for your profile. Don't be shocked if you discover discover that you've not heard of.
Discount Auto Insurance
4. Defensive driving helps so take a course on it. Apart from the fact that such programs will make you a better driver, they'll show your insurer that you're taking active steps to make yourself a better risk.
5. An easy but rewarding way of reducing your auto insurance rate is by authorizing an EFT (Electronic Funds Transfer). This simply means your insurer withdraws your premiums automatically from your account at specified periods without mailing you payment notices. This saves the insurance company in many ways including eliminating the cost of sending payment notices and the cost associated with processing checks. This is why this gets you lower rates.
Budget Car Insurance
6. The most important key to reasonable savings in auto insurance is comparison shopping -- Given that you do it correctly. You can get quotes that will have a range in excess of $1,000. You could easily save that much by just picking the lowest quote. This should apply if you're just after the lowest price.
However, if you want the best value to price ratio then you'd have to look at the details of the cheapest offers. Different insurers may have different exclusions for similar policies. It's a good idea to ask the agent what's part of the deal and what's not.
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