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Top five tips to help save you hundreds on your car insurance

28 November 2019 By admin 2 Comments

If you cannot get a better price when shopping around and you are struggling to afford your renewal premium with your current insurer, here are some steps you could take.

1. Get all the discounts you are entitled to

Some insurers offer multi-car discounts of as much as 25pc if a family has insured two or more cars with it. This discount does not usually kick in automatically – you need to ask your insurer if you’re eligible. You may also be entitled to a further discount if you have another insurance policy (such as home insurance) with the same insurer. Check too that you’re getting the full no-claims bonus discount that you qualify for.

2: Downgrade to third party, fire and theft cover

Many people choose comprehensive cover when buying car insurance. Opting for third party, fire and theft cover instead could save you several hundred euro a year – depending on your insurer and age.

A 20-year-old driver of a Chevrolet Kalos could save almost €800 – or about a quarter of their premium – by opting for third party, fire and theft cover instead of comprehensive, according to the Competition and Consumer Protection Commission’s most recent car insurance survey. A 38-year-old dentist, however, could save as little as €32 – or 9pc – by downgrading, the same survey found.

You will lose valuable benefits if downgrading from comprehensive insurance, so only consider doing so if the savings will be substantial and you are happy with the drop in cover. Third party is the minimum cover you are required to have by law.

3: Give up the add-ons

You could knock €100 or more off the price of your car insurance by giving up a few of the typical add-ons in policies, such as windscreen cover, breakdown assistance or no-claims bonus protection (an insurance policy that ensures your premium won’t go up the following year should you make a claim). Be careful about giving benefits up, however, because add-ons could save you a few hundred euro if you ever need them. Windscreen cover might add as little as €17 to the cost of your policy – but it could cost a few hundred euro to get a new windscreen. Breakdown assistance cover might add about €40 to the cost of your policy but it could cost more than €100 to get a call-out and repair job should your car break down.

4: Pay a higher excess

Opting for a higher excess (the first part of a claim you pay yourself) could save you some money – but only consider a higher excess if the savings will be substantial. Doubling your excess from €250 to €500 might only save you €10 on your car insurance – and the higher excess would leave you substantially out of pocket should you then make a claim.

5: Pay up front

You could pay as much as 30pc more by paying your premium in monthly instalments instead of up front. Had I paid my premium in instalments instead of up front, my bill would have been €150 higher this year. Some insurers have a lighter loading of around 8pc for those who pay in instalments but you will still save money if you pay up front.

By Louise McBride

See full story at www.independent.ie

Filed Under: Tips Tagged With: car insurance

Top Car insurance Tips that First-time Buyers can use to save money

7 November 2019 By admin Leave a Comment

Here are the top car insurance tips that first-time buyers can use to save money and gain peace of mind.

Know your state’s minimum car insurance requirements.

Most states mandate that drivers carry bodily injury and property damage liability insurance at a bare minimum. Every state has different required liability limits, so make sure you read up on them.

The minimum coverage required by your state, however, may not be enough to provide you adequate financial protection. For instance, you could still be on the hook for large sums of money if you cause an accident and you don’t have collision insurance to cover the repairs. A bare-bones policy might also not provide enough coverage to replace a new car that’s been totaled or pay for severe injuries suffered by other drivers and passengers injured in a crash.

Decide how much coverage you need

The amount of coverage you’ll need will vary based on your age, where you live, vehicle type, miles driven and credit score.

In addition to liability coverage, auto insurance policies also offer a variety of different coverage options as add-ons to the base coverage.

  • Personal injury protection (PIP) covers you (and you passengers) if you sustain injuries in an auto accident. This can potentially cover funeral expenses and lost wages.
  • Uninsured motorist coverage covers you for damages caused by an uninsured or underinsured This also covers you in the case of hit-and-run accidents. Some states require uninsured motorist coverage.
  • Collision insurance covers you for damages to your car, truck or SUV sustained in a collision with another vehicle.
  • Comprehensive insurance covers your car for all damages that are not related to a collision with another vehicle, such as hitting an animal, fire, theft, vandalism and falling objects.

Keep in mind that if you have a sizeable auto loan, you’ll likely be required to purchase enough collision and comprehensive insurance to cover the amount of the loan should you get into an accident.

By DREW HOUSMAN

See Full Story at www.bankrate.com

Filed Under: Tips Tagged With: car insurance

Disadvantages of a cheap car insurance policy

24 October 2019 By admin Leave a Comment

Photo by JESHOOTS.com from Pexels

The disadvantages of a cheap car insurance policy are the following:

  • The coverage can’t be enough. The liability coverage has some really low limits. While experts are recommending to have at least $500,000 of liability coverage per accident and $2 million to be fully protected, cheap policies are offering only $10,000 to $30,000 liability coverage per incident. These small limits can easily be exceeded even in a minor accident with a few passengers that require costly medical treatments.
  • Drivers won’t be able to fix their cars after a collision. Insurance companies will cover the damage inflicted on other drivers, property, passengers, and vehicles if the policyholder only has liability coverage. Liability coverage does not cover the costs to repair the policyholder’s damaged vehicle.
  • Drivers can remain without their cars after a claim. Drivers that have cheap car insurance are more likely to remain without a car after filing a claim. Policyholders that don’t have the money to repair their vehicles after a crash, and their cheap policies don’t cover the costs will probably remain without their cars until they can afford to repair them.
  • Bad customer service. Some insurers will offer better customer support to persons that have expensive policies compared to those that have only liability coverage. Although this doesn’t sound that bad, drivers that are dealing with an insurance claim will need to have good customer support.
  • High deductible. Raising the deductible is one of the most common methods used to lower the insurance premiums. Drivers will pay less on their monthly insurance, but if they are required to make a claim, will have to pay a significant amount of money upfront before the insurance kicks

See Full Story at www.prweb.com

Filed Under: Interesting Stuff Tagged With: car insurance

Tips to for teen drivers to pay less on car insurance

15 October 2019 By admin Leave a Comment

Image by Pexels from Pixabay

Teen drivers pay some of the highest car insurance premiums. Insurance providers classify teen drivers as high-risk and charge them extra. The reasons for that is the lack of previous driving experience and the fact that teens are more likely to get involved in car accidents.

Teen drivers who want to pay less on car insurance should follow the next tips:

  • Get a good student discount. Insurance companies consider that students who do well in school are more responsible and less likely to be involved in car accidents. For these reasons, teen drivers who have a 3.0 GPA or higher can qualify for a good student discount.
  • Get on the family plan. Staying on the family plan can be cheaper for teen drivers than going on a separate policy. Teen drivers can take advantage of several discounts such as multi-car or multi-policy discounts. However, some insurance companies will rate a teen driver on all the vehicles covered by the policy. In many cases, the premiums paid on a family plan will become more expensive than the premiums paid on separate policies. it’s good to do research before adding a teen driver to a family policy.
  • Graduate a defensive driving course. Insurance companies offer a discount of ten to fifteen percent to those teen drivers who manage to attend and graduate an approved defensive driving course. These courses take from four to eight hours to complete and they can be ordered online. Besides gaining a substantial discount, teen drivers will also learn how to become better drivers.
  • Get online quotes. Teen drivers can obtain better insurance rates if they compare multiple quotes. Brokerage websites can help teen drivers obtain multiple car insurance offers from multiple insurers. Teen drivers can sit in the comfort of their homes while they are simulating different insurance plans.

See Full Story at www.benzinga.com

Filed Under: Tips Tagged With: car insurance

Useful Tips to Get the Best Car Insurance Rates

10 October 2019 By admin Leave a Comment

Either you are buying a new car or possess an old one, Insurance is a must-have for vehicle owners. You don’t want to be in a distressed situation if your car meets an accident or gets stolen. All the financial burden will be managed by the insurance companies in case of damage to an insured car.

Comparing Car Insurance Quotes

You need to know how to analyze an insurance quotation for yourself. There are some key terms mentioned and you need to understand them properly. You need to see which insurance company is offering the best financial security by looking at Liability Limit, Collision Coverage and other related terms and conditions mentioned.

Create a chart for all the quotations you receive and compare them with their pricing plans. Select an Insurance Plan that falls perfectly within your monthly budget and almost satisfies all your needs. Insurance bills are sent over monthly so you need to have pre-planned budgets to clear them before deadlines.

By Adrian McDonald
See Full Story at kxan36news.com

Filed Under: Tips Tagged With: car insurance

What is the difference between Car Insurance Agents And Car Insurance Brokers

8 October 2019 By admin Leave a Comment

Photo by Lukas from Pexels

Insurance brokers and insurance agents are industry professionals that act as intermediaries between policyholders and insurance companies. The most important difference between insurance brokers and insurance agents is who they represent. The insurance broker represents the policyholder. The broker can help a driver find the best car insurance policy. The insurance agent represents one or more insurance companies. Insurance agents will try to sell policies from their companies to any potential customer.

Drivers who haven’t decided with whom to work should consider the following about insurance brokers and agents:

  • Insurance broker. Brokers work for the customers and not the insurers. Brokers can help drivers to determine their own insurance needs and they can assist them when looking for a policy that can satisfy those needs. While some customers need brokers to find cheaper insurance policies, other customers have complex insurance needs and they require assistance. Brokers can recommend drivers insurance products that can help them save money on insurance. Drivers who got involved in an accident can get assistance from the broker when making a claim. Brokers can help drivers manage the claim, organize the documents, or handle the insurance company. Usually, brokers work for smaller companies that represent large insurance. companies
  • Insurance agents. Usually, an insurance agent represents a single insurance company. An insurance agent serves as the link between policyholders and insurers. Some insurance companies have a business model that is based on bundling personal connections between insurance agents and customers and they are selling policies only through their insurance agents. Some insurance agents have the best interests and they will help drivers compare insurance plans and look for better deals. Other agents just want to sell policies that bring the largest commissions.

See Full Story at www.benzinga.com

Filed Under: Interesting Stuff Tagged With: car insurance

4 steps to Lower your Car Insurance

26 September 2019 By admin 1 Comment

Image by ElisaRiva from Pixabay

Negotiating lower car insurance can help you save hundreds of dollars each year. Here’s how to lower car insurance in 4 steps today

Step 1: Find how much coverage you need

Most U.S. states — besides New Hampshire and Virginia — require you to get car insurance as well as a certain amount of liability coverage you need.

When it comes to the amount of liability that’s required, you’ll typically need to find coverage in three areas

Step 2: Find your current plan

If you don’t have your current plan in front of you, how can you know how to lower your car insurance?

That’s why you need to find out what your current policy looks like. Go digging through the glove compartment for it, check your files, or call your insurance company. This is important information you can leverage when negotiating with your current insurance provider.

Step 3: Shop around

To start, you can use a rate comparer tool such as this one to compare quotes from different insurers.

I prefer talking to a rep on the phone, though, because they always tell me about other deals that the websites don’t offer.

When consulting with a rep or looking up quotes online, be sure to find out how much exactly you’ll be paying in these two areas.

See Full Story at www.iwillteachyoutoberich.com

Filed Under: Interesting Stuff, Products Tagged With: car insurance

How teen drivers can save money on car insurance

15 August 2019 By admin Leave a Comment

Teen drivers can save money on car insurance if they follow the next tips:

  • Check the car before hitting the road. Teen drivers should prepare their vehicles before driving. To do that, teens are recommended to check the gauge levels, adjust the mirrors and see if the headlights are working. Additionally, teen drivers should check the gas tank and see if they have enough fuel.
  • Stay focused on the road. Teen drivers should avoid distractions like phone texting, eating, drinking or other distractions. Also, teens should signal when making a lane change and look in all directions twice before switching the lanes.
  • Always obey the speed limits. Speeding is one of the leading causes of car accidents where teens lost their lives. Teen drivers should avoid speeding, even if they need to immediately reach somewhere. Obeying the speed limits will lower the chances for a teen driver to be involved in car accidents.
  • Teen drivers should avoid driving with other teenagers. Teen passengers can easily distract the driver’s attention. For this reason, the chance for causing an accident is very high. Teen drivers are safer if they are driving alone than driving with other teen passengers.
  • Avoid nighttime driving. If driving at night can’t be avoided, drivers should be extra careful. The dangers lurking on the roads during the time can be dangerous for inexperienced drivers.

See Full Story at finance.yahoo.com

Filed Under: Tips Tagged With: car insurance

Here’s how you can find your Car Insurance policy number

13 August 2019 By admin Leave a Comment

The best place to find your car insurance policy number would be to check with your insurance company. If you think you have misplaced your policy documents and have not saved your policy number on your phone, computer or elsewhere, your insurance company can be one of the best options to get it back. You will need to provide your name, address, phone number and any other identification details.

How to find my car insurance policy Number?

There are other situations where you want to find your policy number. Even when you have your policy documents and need to mention the policy number for some sort of legal documentation. But you are wondering how to find my car insurance policy Number? Maybe you are not able locate it. Let us help you get it easily.

There are a few options that you can help you find your car insurance policy number. Let us examine them one by one –

The Declaration Page
The most essential element of the policy document is the Declaration Page. The page has all the personal information and the details of your policy. That should include your policy number. If you have the declaration page with you, check it out and find the policy number.

The Insurance Card
The insurance card is yet another document that should help you find your car insurance policy number. Carrying the insurance declaration page at all times may not be possible. In such situations, you would find the policy number on your Insurance card. This is a piece of document that you should carry with you in your vehicle.

By Timmappa Kamat

See Full Story at www.newdaylive.com

Filed Under: Tips Tagged With: car insurance

Car insurance tips for young drivers

6 August 2019 By admin Leave a Comment

Most young drivers looking to buy car insurance are often left paying more than experienced drivers. We get it. You want insurance that suits your needs without paying through the roof. 

Explore these tips and tricks to help you understand your car insurance options and save a few dollars along the way too.  

Comprehensive Car Insurance 

Comprehensive is your ‘bells and whistles’ cover and is a popular option for many motorists. It provides a higher level of cover for accidental damage or loss, letting you enjoy the full protection of your vehicle even if you’re deemed at-fault in the accident. 

It’s important to remember that there is an amount you’ll need to pay, regardless of what car insurance you have, when making a claim on your policy. 

Third Party Car Insurance

This covers you in the event of an accident for damage to another vehicle or property, if you’re found to be at fault. It can be a handy insurance to have when you know that you can’t afford to repair damage out-of-pocket. 

Third Party Fire & Theft Insurance

An optional extra for damages sustained to your vehicle on top of third party. You guessed it – this provides cover against fire, theft or attempted theft. 

Compulsory Third Party (CTP) 

CTP Insurance covers the driver of a car for personal injury caused to someone else. However, it doesn’t cover damage to your own vehicle or someone else’s vehicle or property, so you could still be out-of-pocket if you don’t have additional car insurance and you’re in an accident.

By  AAMI 

See Full Story at www.aami.com.au

Filed Under: Tips Tagged With: car insurance

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