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Tuesday, May 1, 2007
Insurance Rates on Cars - Top 5 Tips on Getting "Better Insurance Rates on Cars"
Who doesn’t want to save money on car insurance? A large number of people end up paying too much money. Money they could have easily used for spending on other things, which would have been of interest to them.
Here we give below five tips, which will enable you to get better insurance rates for the cars, which you wish to insure.
a)Conduct a market survey:
Internet offers a free and easy medium of conducting such market research. Access the net at any time of the day suitable to yourself and locate a website, which offers you the facility of getting quotations from different companies based on a single application from your end. Locate another website and repeat the same procedure. Now, you will have a few quotes with you for making a comparative study. Short list those which are economical and meet your requirements.
Secondly, before deciding on any insurance, it is desirable to conduct a research on the company’s past performance. Visit Better Business Bureau, to check about the antecedents of the company vis-à-vis its records of making payments against accident claims etc.
b)Educate yourself about car insurance:
You need to learn more about the car insurance business, to be able to strike an effective bargain. Try to understand various options being offered by these insurance companies, the import of these options and which are the options, you may do away with. Since every option adds on to your insurance premium, it will be judicious on your part to select the right options required by you. You can identify your requirements properly. For instance, if your car is relatively new, you may delete the option of towing, also the car rental option can be dispersed with.
c)Increasing your deductibles:
Increasing of your deductibles, is definitely going to reduce your car insurance premium. If you increase your deductible, then insurance company has less risk and, therefore, the premium is reduced. Deductible is the component you have to pay first, in case of an accident. Only after you pay your part, the insurance company will release the balance amount. However, you must ensure you have adequate funds, in case of an accident.
d)Go for less coverage:
Opt for the recommended insurance coverage of your car instead of taking the maximum coverage. This will lower the premium for you. If your car happens to be over ten years old, you can easily give up the comprehensive insurance plan since the cost of such an insurance is likely to exceed the market value of the car. By saving this money, you may opt for a later model.
e)Security features in the car:
Additional security features in your car will lower the risk factor and therefore the premium payable; especially so if you are residing in a big place or the area in which you live is more prone to theft. Security features that you can install in your car could be an auto alarm, satellite tracking system or steering wheel lock etc.
You can also ask your insurance agent information; as to whether attending the driving classes will help you pay a lower premium. If you are the owner of one or more cars, you should have them all insured from the same company, as they will offer you a bulk discount on insurance premiums. Also if you choose to drive less those cars, which are more prone to theft or are sports models, your premium will come down.
Here we give below five tips, which will enable you to get better insurance rates for the cars, which you wish to insure.
a)Conduct a market survey:
Internet offers a free and easy medium of conducting such market research. Access the net at any time of the day suitable to yourself and locate a website, which offers you the facility of getting quotations from different companies based on a single application from your end. Locate another website and repeat the same procedure. Now, you will have a few quotes with you for making a comparative study. Short list those which are economical and meet your requirements.
Secondly, before deciding on any insurance, it is desirable to conduct a research on the company’s past performance. Visit Better Business Bureau, to check about the antecedents of the company vis-à-vis its records of making payments against accident claims etc.
b)Educate yourself about car insurance:
You need to learn more about the car insurance business, to be able to strike an effective bargain. Try to understand various options being offered by these insurance companies, the import of these options and which are the options, you may do away with. Since every option adds on to your insurance premium, it will be judicious on your part to select the right options required by you. You can identify your requirements properly. For instance, if your car is relatively new, you may delete the option of towing, also the car rental option can be dispersed with.
c)Increasing your deductibles:
Increasing of your deductibles, is definitely going to reduce your car insurance premium. If you increase your deductible, then insurance company has less risk and, therefore, the premium is reduced. Deductible is the component you have to pay first, in case of an accident. Only after you pay your part, the insurance company will release the balance amount. However, you must ensure you have adequate funds, in case of an accident.
d)Go for less coverage:
Opt for the recommended insurance coverage of your car instead of taking the maximum coverage. This will lower the premium for you. If your car happens to be over ten years old, you can easily give up the comprehensive insurance plan since the cost of such an insurance is likely to exceed the market value of the car. By saving this money, you may opt for a later model.
e)Security features in the car:
Additional security features in your car will lower the risk factor and therefore the premium payable; especially so if you are residing in a big place or the area in which you live is more prone to theft. Security features that you can install in your car could be an auto alarm, satellite tracking system or steering wheel lock etc.
You can also ask your insurance agent information; as to whether attending the driving classes will help you pay a lower premium. If you are the owner of one or more cars, you should have them all insured from the same company, as they will offer you a bulk discount on insurance premiums. Also if you choose to drive less those cars, which are more prone to theft or are sports models, your premium will come down.
# posted by gopi @ 1:21 AM 
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