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Monthly Archives: July 2018

Save On Auto Insurance

Possibly the simplest things to do is just to have a look around. It is not that difficult to get a few quotes from a few insurance companies around in order to notice which one provides the best features for the dollar. These days with the wide spread of the Internet such task is made very easy and insurance quotes can be received in few minutes right on one’s own personal computer.

One of the things that might be overlooked by potential client is that insurance companies commonly reference the credit history in determining the cost of insurance premiums. Therefore, naturally, the better the credit score is the better for the insuring driver. Without getting into credit management it is worth mentioning that everyone in US and Canada is entitled to a free credit report by mail, once a year, from one of these agencies: Equifax, Experian and Trans Union.

How knowing the score can be to advantage? Well, each of the positive and negative remarks in the report have expiration date – therefore applying for insurance after a negative one expires can by itself lower the insurance premium. Otherwise, obviously, paying the bills on time is the main factor in keeping the score on the high side.

Basic credit report is all that is needed. Also there are some credit-reporting firms stating that their reports are free while in the meantime they charge ‘membership fees’ for it. So it pays to check the fine print in such cases.

And another thing to observe when shopping for insurance or particularly when buying a new car is that the insuring companies rate different models of vehicles in their own specific ways. For instance cars that have parts which are costly to replace will lean towards having higher insurance premiums. In like manner, autos that show in the stats to be stolen more often will also have their insurance costs going up compared to others.

Easy Routes to Cheaper Car Insurance

1) Shop around and buy online: Figures show that many people simply renew their current policies without shopping around. The internet makes it easy to compare prices from different insurers, so why not take advantage of this? Plus, you’ll usually get a discount of 10% or more just for buying your policy online.

2) Policy type: do you really need a comprehensive policy with all the extras? Going for a third party fire & theft policy can reduce your premiums hugely, and is definitely worth considering if your car isn’t an expensive model.

3) No claims discounts: Nearly all policies feature a discount that increases for every year you don’t make a claim. The higher the discount available, the more you could save. Also look at insurers offering a ‘no claims bonus for life’ feature, where your current discount level can be fixed forever, even if you have to make a claim somewhere down the line.

4) Excess: The excess on a policy is the amount of a claim you have to pay before the insurer pays the rest. Choosing to have a higher than standard excess level will usually mean lower premiums.

5) Security: Fitting your vehicle with an alarm, immobiliser, or other security devices can lead to premium reductions. Parking you car off-road, for example on a driveway or in a garage, will also mean a cheaper policy.

Direct Car Insurance

Something similar happens when you choose a direct car insurance policy over an indirect car insurance policy.
One may argue that it is far easier to get quotes and information on car insurance policies from multiple indirect sources, as there are plenty in the car insurance market. It may also be a better idea as these indirect car insurers offer a wide variety of services in order to keep their car insurance policies better than the rest.

This is however not without its associated costs. Remember middlemen and independent agents and such indirect car insurers are in a business and not providing you the service out of charity. They obviously are looking for their profits. While on the look of it you may be offered multiple services at some good prices, you must never forget that you are paying a higher rate for the same. The independent car insurance agents are putting in their profits into the quote. The larger these independent car insurance companies are, the higher the hidden costs.

The direct car insurance agencies, on the other hand have their benefits. If you go at first to a direct car insurance company, you will directly be in touch with the car insurance provider itself. These direct car insurance providers are usually large companies which have in house services like emergency pick up vehicles, tie ups with official car service centers, legal advisors and such important services. What happens here is that these direct car insurance providers may not have to outsource their services to other car insurance agencies? Even if they do, they have clear and set procedures that are outlined. This removes the reasons for inordinate delays in providing emergency car services, settling claims and providing interim relief through rent a car services etc.

When you buy a policy from a direct car insurance agency you also save on costs. You can get cheaper car insurance with some very good facilities. Remember it is not the amount of services that you can get but whether those services can be used when you need them.

You may even be able to work out cheaper premiums for flexible periodic payments as well when you go to direct car insurance agencies. And to top it off you may even get some free extra covers along with your standard cover as well. These come in handy and end up saving you some money at a later stage. For example you may get free extended territorial cover or the direct car insurance agency may offer extended legal liability to family members. These would be specific to the district of residence of course.

There are some direct car insurance agencies that also offer you a better premium if you insure more than one car with them. This really gets you a good reduction in your associated costs and it always helps if there is just one direct car insurance agency that has to be co-coordinated with at all times.

There are quite a few car insurance companies which provide direct car insurance and you may need to shop around a little before you actually make your decision. This will also give you adequate knowledge about what the direct car insurance agencies are offering in the car insurance market. So remember, going in for direct car insurance is in the larger picture more beneficial to your pocket!

Info of Comprehensive Car Insurance

This portion of your insurance covers damages caused by break-ins, theft, hail storms, tree limbs, vandalism and fire. One hail storm could total out your car due to the cost of popping out all the dents. Not sure if you’ve been through that before, but I have, and it was very expensive. Also, a friend of mine, just this week, got their back window shot out of their van. Doesn’t sound so bad, but it was vandalism with a pellet gun. The glass replacement was $700 and they had a deductible of $500. You do the math. Ouch.

Sometimes it doesn’t pay to have comprehension insurance. If you have an older car that isn’t worth much, then you’d be better off to save the money towards a new car or just save it to pay for any damages that may occur. You have to look at the cost of comprehension insurance and the value of the vehicle. I know some people want it no matter how old or junky their car is. But why pay for hail damage and radio theft if your old car doesn’t have a radio. Besides, if you have an old car, the radio is probably old, too.

But when you go and buy a new or newer car, having full coverage makes sense. Finding old junkyard parts on a new car is quite difficult and if you find the part, they are rare – hence – expensive. Now, most people have comprehension insurance because the bank or finance company requires this coverage. If you finance a car, then they make you pay for full coverage insurance. Not fair? But think about Mr. Banker for a moment. You have to carry insurance and keep the car in good shape so it can be sold in case you don’t pay for it. So if you don’t have insurance on your new Dodge Ram, and a hail storm comes and instantly depreciates out your truck by $6,000 – ouch.