Surveys
suggest you could pay anywhere from
$500 to $2000 annually for the same
auto coverage thru different insurance
providers.
Shopping for insurance using a website
that compares multiple companies and
policies is one of the best ways to
ensure your getting a good rate, and
it allows you to compare rates and policies
from the comfort of your home.
In reality you should be checking a
few of these websites every year to
ensure your getting a good deal on your
policy.
Auto insurance
rates depend on several factors, including,
your age and marital status, where you
live, how many cars are on your policy,
annual mileage driven, how far you are
from your work, what you drive, how
long you have been with your insurance
company and what other things do you
have insured with them, and of course
your driving record.
First Things
1st, Types of Coverage, what do you
need?
Collision
coverage: Covers damage to your
car up to its book value. There is a
deductible, which is the amount per
claim you have to pay out of pocket
before the insurance takes effect. The
lower the deductible, the higher the
premium rate is. While it is legally
optional, if you have a loan on the
vehicle the lending institution usually
requires collision coverage.
Comprehensive Coverage (for physical
damage): Which also carries a deductible.
Covers damage to your car from theft,
vandalism, flood, fire, wind, and other
non-accident damage.
Medical payments: Pays for injuries
to you and other occupants of your vehicle,
it is optional in some states. In "no-fault"
states, personal injury protection replaces
medical payments as part of the required
basic coverage.
What is no-fault insurance? If
your state requires "no-fault" auto
insurance, your auto policy must pay
medical bills for you and your passengers
regardless of who caused the accident.
No-fault insurance laws are intended
to keep insurance fraud down.
Uninsured motorist protection:
Covers injuries sustained by yourself
or the occupants of your car from an
uninsured motorist or hit-and-run (unidentified)
drivers. "Under-insured" coverage also
is available to cover claims you may
need to make against a driver who is
inadequately insured. Some areas of
the country have as high as a 30 percent
uninsured motorist rating.
Bodily
injury liability: Covers injury
and death claims against you, as well
as your legal costs if your vehicle
caused a accident and injures or kills
someone.
Property damage liability: Covers
claims for property damage that your
vehicle caused in an accident. Since
liability coverage protects the other
party, you are required to carry this
insurance in all but three states, Florida,
New Hampshire and Wisconsin.
Items
effecting your rates
Your
driving record
If you are convicted of moving traffic
violations or of causing an accident,
your premiums will likely be higher
regardless of your age. Drivers with
no tickets and no accidents "clean records"
pay lower rates.
Who You Are
Your age and gender are uncontrollable
factors that affect your insurance premium.
Males 25 or younger pay the highest
rates since statistics show their involved
in more accidents. Married men statistically
have fewer accidents and generally pay
less than single men. A few states don't
allow rates based on sex or age, but
that generally results in higher rates
for women, instead of lower rates for
men.
Where you live
Higher populated Urban areas, with greater
densities and heavier traffic often
get higher rates than rural areas.
How much
Insurance do you need?
It's
dangerous to be under-insured, but having
too much insurance can be an expensive
mistake too. Without insurance, your
personal property and lively-hood is
put at risk in an accident that you
caused.
The more income and assets you have
to protect, such as a home, the more
insurance you need. An "umbrella" policy
could protect you from financial ruin
in a major lawsuit.
Tips
to Reduce Your Insurance Premiums
Increase
your deductible for collision and comprehensive.
Drop collision coverage when the annual
premium reaches 10 percent of your car's
value. On older cars claims are limited
to the "book" value, so you most likely
won't get much for damage anyway.
Drop coverage for towing costs or car
rental while yours is in the shop.
If your group health insurance provides
generous coverage, consider dropping
the medical payments portion of your
policy.
Shop around Instead of just renewing.
Use a online multiple quote service
and study the fine print to compare
them. Chances are you can find a better
rate, but you won't know if you don't
shop.
Try
To Qualify For Discounts
Most
companies give a break to those who
drive less than 7500 miles a year. Take
public transportation to work, or try
carpooling to reduce your cars annual
mileage.
Drive a vehicle make or model that qualifies
for a discount or doesn't carry a surcharge.
A vehicle with an alarm or air bags
may qualify for a discount.
Discounts are commonly available if
you insure other items with the same
company, like your home.
If you pass a defensive-driving course
or don't smoke or drink you often qualify
for discounts.
Avoid accidents and traffic violations
The safer you are on the road the lower
your premiums.
Keep your credit rating healthy. More
insurers are considering a persons credit
score when setting rates.
If you have a accident: don't
be afraid to play hardball, negotiate
your claims, auto insurance companies
try to give you as little as possible.
We can get
multiple insurance quotes for anyone
living in any of the following states,
Alabama AL, Alaska AK, Arizona AZ, Arkansas
AR, California CA, Colorado CO, Connecticut
CT, Delaware DE, District of Columbia
DC, Florida FL, Georgia GA, Hawaii H,
Idaho ID, Illinois IL, Indiana IN, Iowa
IA, Kansas KS, Kentucky KY, Louisiana
LA, Maine ME, Maryland MD, Massachusetts
MA, Michigan MI, Minnesota MN, Mississippi
MS, Missouri MO, Montana MT, Nebraska
NE, Nevada NV, New Hampshire NH, New
Jersey NJ, New Mexico NM, New York NY,
North Carolina NC, North Dakota ND,
Ohio OH, Oklahoma OK, Oregon OR, Pennsylvania
PA, Rhode Island RI, South Carolina,
South Dakota, Tennessee TN, Texas TX,
Utah UT, Vermont VT, Virginia VA, Washington
WA, West Virginia WV, Wisconsin WI,
and Wyoming WY... Compare and Save!
