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Monthly Archives: June 2017

How to Keep Car Insurance Low

Look around

The easiest way to keep your car insurance low is to look at as many different lenders as you can. There is a great variation in the quotes you can receive so shopping around can really pay off. Looking at online lenders is the quickest way to compare prices, but you should also look at your local high street lenders as well.

Look at insurance before you buy

Before you buy a car it pays to look at insurance. You may have found a great deal on a car but if the insurance price is too high you may be paying more than you want to. Compare the price of new and used cars, and how much it costs to insure each model.

Ask for a high deductible

Having a high deductible, or the amount you have to pay before the insurance works, can lower the costs. Having a higher deductible means that your overall yearly payment will be less. However, remember to have the deductible money set aside, and that if you need to make a small claim the high deductible might not be cost effective.

Have low cover on old cars

If you have an old car, it may not be cost effective to have comprehensive insurance on it. If the premium you are paying is more than one tenth the cost of the car, then you should reduce your policy to lesser coverage.

Maintain good credit

If you have a good credit rating then insurance is much easier to get hold of and you can get better rates. Make sure that you pay bills on time and stay within your means and you will get better deals on all types of insurance.

Keep your mileage low

Another way to keep car insurance low is to drive less. Many car insurance companies offer lower rates for people who keep their yearly mileage low, as there is less risk of accidents or car failure. If you can drive less or share work driving with someone this can lower your premiums.

Be economical

When choosing a car, try and pick one that has good reliability and low fuel consumption. These factors don’t mean you have to lose out on luxury or features, but will help to keep your insurance low. If you have an economical car and keep driving to essential journeys then you will definitely save money on your insurance. Even if you are a new driver or have a high-powered car there are deals to be had as long as you shop around and are willing to compromise.

 

Auto Insurance Contracts Elements

Usually, physical damage coverage will apply to newly acquired vehicles (whether additional or replacement vehicles) only if you request the coverage within 30 days of the acquisition. However, liability coverage for a replacement vehicle is automatically provided until the end of the policy period.

The liberalization clause states that if the insurance company makes a change to its policy form which provides broader coverage without a premium charge (for example, if it drops a policy exclusion), that change will automatically apply to your policy on the date the change goes into effect in the insured’s state. This simply eliminates the need of the insurance company to endorse all existing policies when coverage is expanded without a change in premium.

Cancellation is an important issue. In most states, the reasons for which an insurance company is permitted to cancel a policy are limited-if the policy has been in effect for at least 60 days or is a renewal policy.

The general agreement is a very brief statement. It means simply that all of the remaining provisions of the contract (the policy terms) apply. The reason that the general agreement is so brief is that each coverage section contains a much more detailed insuring agreement.

Exclusions involve some of the most heated-and most often litigated-disputes over insurance language.Some exclusions exist simply to remove coverage for above-average risk factors which are not anticipated in average rates and premiums, and that the coverage is often available for an additional charge.

This is the case with respect to audio, visual and data equipment and the tapes, records, and other media used with such equipment. The basic policy form excludes coverage because these are items of value which have an above-average exposure to theft losses (they are easily removed and are often targets for thieves).

On the other hand, some people want specific drivers excluded from coverage. These special exclusions have become increasingly common in recent years.

Liability is probably the most important kind of automobile insurance. It covers moneys owed when one automobile driver causes bodily injury to another person or damage to another person’s property.

Injury or damage suffered by a driver who causes an accident is not a matter of legal liability. Being liable means being legally responsible for damages suffered by a third party (someone other than the driver or owner of the vehicle).

If a driver who causes injury or damage suffered by another person can be shown to be at fault, that driver may be held liable for the accident.

In other words, if one driver is liable for an accident, then the other party may be entitled to compensation for injuries or damage or both. Compensation may be in the form of money paid to the injured party for tangible damages (such as a medical bill or the cost to repair a damaged vehicle) and/or money paid for intangible damages (such as pain and suffering).

Save Money Tips for New Driver

Vehicle

Stay away from brand new, very expensive, very fast, sport cars. Expensive cars cost more to insure, the more horse power, the higher and the premium. Go for something that is older, with many safety features. Companies offer discounts for features like automatic seatbelts, airbags and anti-lock brakes.

Drivers Education

As a new driver, it will help your insurance rate if you take an approved drivers safety course. Chat with your insurance agent before taking the course. You want to make sure that they recognize and approve of the institution offering the class. Aside from getting good driving information, you do want to get the insurance premium discount so make sure that it is one accepted by your insurance carrier.

Sober Driving

This is a no brainer, but needs to be said. Driving while under the influence is not only dangerous, but costly in more ways than one. If you are stopped with a DUI, not only will your insurance rates increase, if you are under aged, it is illegal and your insurance company may void your coverage.

Student Drivers

If you’re a new young driver that is still in school, maintaining good grades (B average or above) may earn a discount of up to 25{434fa3b8b0b36228ac3df8f875a61f462824630c3533ae1aff0b638aba1385d4} of your insurance premium.

Talk to your agent

Your insurance agent is aware of various discounts offered by the insurance company. You might qualify for some of them, but you won’t know unless you ask.

Compare

Get quotes from more than one company. Shop around.