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5 Ways To Save Money On Your Car Insurance

Young drivers motor insurance can be quite expensive. Unfortunately due to statistics you find yourself in one of the most expensive categories of driving insurance; you may be the safest driver in the world, but the boy-racers of the world skew the odds against you.

However, it’s not all doom and gloom. Here are some tips that can help you keep the costs of insurance down both now and in the future:

1. Specialist young persons motor insurance: Probably the easiest way of reducing your costs is to find specialist coverage, tailored to reducing the high costs that younger drivers face. Whilst standard insurance packages may not count you as eligible for no-claims bonuses until you’ve been driving for 3 years (or until you’re 21 years old…), young persons car insurance deals often let you start building this up straight away.

2. Ask for higher deductibles: A deductible is the amount of money you pay when you make a claim before the insurance ‘kicks in’. Whilst this might sound counter-intuitive, if you ask for higher deductibles, you’ll receive lower premiums. Of course this does have one drawback – if you actually have to claim on your insurance, then you’ll end up paying more. Make sure you can afford to pay the deductibles in the event that you need to, or this could backfire badly.

3. Buy a “low-profile” car: Effectively, don’t buy a sports car. If your car is expensive to repair or an attractive target for car thieves, you’ll pay for it in your premiums. Older and secondhand cars usually cost less than newer models, though you can also save money depending on the safety rating of your vehicle.

4. Take advantage of low-mileage discounts: Some insurance companies offer discounts to drivers based on a predetermined number of miles driven per-year. By driving fewer miles than this figure, you can benefit from low-mileage discounts. Of course this does limit your freedom slightly, but driving less saves you money in parking, petrol and maintenance costs too. Rather than driving to work, you could carpool with a friend – or if you’re just being lazy, walk. You’ll have a car for when you need it, and you could save a substantial amount.

5. Don’t “front!”: This isn’t so much a tip on how to save money, but a warning on a method you shouldn’t try. ‘Fronting’ is when young car owners name their parents as the main driver of their vehicle – hoping to cut insurance costs and gain benefits from their parent’s possible bonuses. However, this is illegal and if discovered, can lead to both your insurance being invalidated. You may even be prosecuted by the Crown Court or your provider.

Mathew Cooper regularly contributes articles on young driver motor insurance and young persons car insurance. To know more visit http://www.selectercarinsurance.co.uk

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Cheaper Auto Insurance – 10 Ways to Save On your Auto Insurance

We are all looking for ways to save money, but driving with out auto insurance is irresponsible, as well as illegal in most states. Today, even small accidents can result in thousands of dollars in damages.

Good news is that cars built today are designed to absorb ever-increasing levels of impact and are filled with technology, like air bags, Dual side-curtain air bags, Side Impact Protection Systems. All of these innovations have made today’s car the safest ever built, but all have added cost to the price of both buying and fixing these cars and trucks.

Due to the high price of vehicles, ever increasing medical costs, and new bankruptcy laws it is financial suicide to drive with out insurance. When looking for car insurance, no one wants to pay more than they have to in order to get the needed coverage. Below are some suggestions to help you lower your insurance costs and get cheaper auto insurance.

1. Shop Several Companies

Prices vary widely from company to company. The carrier that offers the lowest rate on a middle-aged married couple might be one the highest on a 20-year-old male single. Get quotes from different types of insurance companies. Some companies sell direct through a captive agent force. Independent agents offer policies from several different insurance companies. You can find agents by searching Online, using a telephone directory or asking family or friends where to get cheaper auto insurance.

2. Move to a Higher Deductible

The deductible is the amount you pay on a claim before the insurance company pays. By requesting higher deductibles, you can lower your insurance costs significantly and get cheaper auto insurance. For example, increasing your deductible from $250 to $500 could decrease your comprehensive and collision coverage cost by as much as 30 percent. Switching to a $1,000 deductible can reduce your expense by 40 percent or more. Just keep in mind, if there is a claim you are going to need to come up with that amount in order to get your car repaired. However, remember that the deductible is for the damages to your own car, rarely is there any deductible for the car that you “Hit”.

3. Decrease Coverage on Older Cars

When your car was new, of course you purchased “Full Coverage’ to protect your investment. However if your car is no longer a “late model” or does not have a value over $3,000.00, consider dropping collision and comprehensive coverage. Ask your agent to provide you with a quote both with and without these coverages. Your agent can tell you the Blue book value of your car.

4. Ask about Alarm Discounts

Does your car have any anti theft devices? Most cars today do have both passive and active systems. Most insurance companies will give you a discount of your insurance if your car is so equipped. The discount can be as much as 20% of the comprehensive portion of your policy. It is important that you let your agent know.

5. Exclude a driver

Not all drivers are created equal when it comes to car insurance. The rates on teen drivers are much higher than drivers in their 30s or 40s. If you have young drivers in the household that do not drive your car, you can save a considerable sum by taking them off your policy. A word of caution: If you exclude a driver from your policy and they do take your car out for a spin and have an accident; you will not be covered for that loss.

6. Part-Time Drivers

Most companies give a discounted rate for a part-time or occasional driver. This is of no use if the part time driver is an older driver, but can make a dramatic difference when the part time driver is a young driver. But remember to ask your agent, and not assume they gave you the discount so you can get cheaper auto insurance.

7. Maintain a Good Credit Record

It might seem that is no connection between “Good Credit” and low insurance costs, but many insurance companies will now run credit reports each time you apply for a quote on your car insurance. Many people would be surprised to learn that a “Bad Credit Score” can raise your insurance rate more than having speeding tickets. Not all companies credit score; always ask the agent if they are going to run your credit. If a representative asks you for your social security number, assume they are planning on running a credit check. Verify your credit record on a periodically to check for any errors.

8. Check Your Driving Record

I have had clients whose driving record show accidents and tickets that were inaccurate. Such mistakes happen more frequently than many agents or representatives at the Security of State are willing to admit. These mistakes can significantly increase the cost of your insurance. Check your credit record on a from time to time to check for any errors.

9. Shop Before You Buy The Car

Insurance carriers heavily surcharge some cars, motorcycles or trucks. That means that even though two cars that have the same value, might have dramatically different insurance rates.
After you buy the car, you might find that the monthly insurance payment is more than the monthly car payment. This is particularly true for the combination of young drivers and high performance cars.

10. Don’t Put In The Small Claim

Insurance works best when it is used for which it was intended- to protect you against major financial losses. Insurance companies today share loss information through a central network. As a result these losses follow you from company to company. Companies count “Frequency” as well as total pay-out; so if you have $600 in damages and a $500 deductible
It might be wise to avoid having the claim on your record. click here for cheaper auto insurance now.

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Cheaper Auto Insurance – How To Save Money On Your Car Cover by going Online

When shopping for auto insurance, most companies are likely to give you low cost car insurance if they know that your car is not at great risk of being burglarized, vandalized, or of you being at high risk for automobile accidents or traffic violations. To benefit with insurance policies make sure you drive carefully as insurance companies increase the premium on drivers prone to accidents or traffic violations. Your automobile is a major investment and should be protected with excellent insurance coverage.

Some insurance companies will allow you to pay the premium monthly, every six months, or in some cases yearly. There are also additional discounts for those who make one yearly payment.

You will however, need to consider your age. Auto insurance companies are big on age, since statistically they believe that if you are 25 or younger you are a higher risk. The insurer evaluates the risk of insuring the customer.

Some insurance companies will not grant insurance to people with serious health issues, or extreme lifestyles. It is important to have certain information ready when shopping for car insurance. Having your vehicle identification number for all vehicles, and the drivers license number for all drivers will make your shopping easier.

Your Research

Nowadays getting online car insurance rates is not something beyond the realm of possibilities. The essential secret to online auto insurance is research, as rates can be widely varied between the make of vehicles and models.

Older vehicles with a lot of miles sometimes do not warrant physical damage coverage. Physical damage coverage rates can be adjusted up or down based on the deductible you choose.

Avoid signing up with general insurance companies and seek out insurance companies that deal with these special vehicles. The rates are better and the policies are made to fit your needs.

Deductible And Pricing

If economically feasible increase your deductible. An increased deductible lowers rates, just make sure the deductible is an amount that you will be able to pay should an accident occur.

You may be able to save money on the premium of your policy if you carry a higher deductible. The deductible is the amount of out of pocket expenses you pay before your coverage begins. Having a $1000 or even a $1500 deductible can lower premiums 15 to 20 percent.

If you decide to go this route, consider putting the money saved the first year into an account to pay the deductible should you have any accident. If economically feasible increasing your deductible is a good way to go.

Another way to get a lower quote is to change the coverage plan by reducing coverage. There are some interesting facts about the pricing of auto insurance quotes. If you would like an auto insurance quote, and your current insurance carrier has dropped you, the amount of your quote will be dramatically increased. If you want to insure an underage driver, your quote will also be increased. Make sure to take these things into consideration when asking for a auto insurance quote and deciding on your insurance.

Collision Coverage

Collision coverage will pay you for damages down to your own vehicle in the event an accident is deemed to be your fault. If your vehicle is totaled out in an accident the insurance company will pay you the actual cash value of your vehicle. This could be less in some cases than what your vehicle is worth.

What about liability insurance you ask? Basically, liability auto insurance doesn’t cover your own vehicle at all if you cause an accident. If your vehicle is damaged or destroyed, you won’t receive any assistance from your insurance company to repair or replace your car. Liability only guarantees that the other parties vehicle will be covered by your insurance company.

In conclusion, searching for auto insurance isn’t that difficult. There are things that you must take into consideration when looking. You should understand how the company rates you, make sure you do your research, look at deductible and pricing, and lastly, check on your collision coverage.

If you do these simple things your search for auto insurance will be a breeze and you will ensure that you get the best rate possible. Click here for Cheaper auto insurance now.

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