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Car insurance rating and limits Archives

Dan Cowther : Can one really save on auto insurance premiums?

Response : Dan, we understand that most people never make an effort to check their auto insurance policy, compare auto insurance quote nor reveiw car insurance  and always assume that it is a big deal to deal with the insurance companies. Here are 10 tips on how to save on auto insurance premiums :

10 Ways to Save Big on auto Insurance

Auto insurance can make a big hole in your pocket—if you let it. Insurance premiums vary hugely between companies and agencies, but if you’re willing to take some time and shop around, it’s easy to find something affordable.

To get the best rates on vehicle insurance, we recommend these 10 money-saving tips:

  • Always maintain a good driving record. If you’re one of those people who consistently breaks the law or drives too fast, your vehicle insurance rates will show it.
  • Get competitive quotes from different insurance providers. The more you have to compare against, the better informed you’ll be-and the more likely you’ll get the best rates.
  • Check insurance costs before you buy a new vehicle. Find out which features increase insurance premiums and which ones lower them. Keep these things in mind and choose your new vehicle carefully!
  • Choose higher deductibles. This could reduce your vehicle insurance costs by at least fifteen to twenty percent.
  • Consider buying vehicle insurance from the same company you have your home, accident or life insurance with. Many companies offer discounts to clients who buy more than one kind of policy.
  • Keep your credit record clean. Did you know some insurers take a look at your credit score before setting your rates? They do! So pay bills on time, keep loans to a minimum and keep credit balances low for the most stellar reports.
  • Don’t duplicate coverage. Consider dropping medical payments coverage if you have a good health insurance policy. Because medical costs are so high, this could save you up to 40 percent on vehicle insurance premiums!
  • Choose where you live carefully. Due to risk of theft, sometimes living and parking your auto in a rural community or suburb costs less than in the city.
  • Take advantage of discounts like low-risk career, low mileage, car pooling, no violations or accidents, taking defensive driving courses or senior citizen price cuts.
  • Insure all your family’s vehicles together, and check group rates through corporate organizations, community clubs, and professional or alumni bodies.

We are sure that this will be very helpful.

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Auto insurance rates and auto theft

Garriaon : How much are auto insurance rates dependent on auto theft?
Response : This is a very relevant question since the auto insurance rates are directly dependent on auto theft. Now car theft depends on the car you are using and the data and statastics regarding the car.
Just recently the “hot wheels report” by National Insurance Crime Bureau’s (NICB) for 2008 revealed the following facts :

The 1994 Honda Accord ranked as the most stolen vehicle in the United States in 2008.
Following the 1994 Accord on the list of most stolen vehicles were:
• 1995 Honda Civic
• 1989 Toyota Camry
• 1997 Ford F-150 Pickup
• 2004 Dodge Ram Pickup
• 2000 Dodge Caravan
• 1996 Jeep Cherokee/Grand Cherokee
• 1994 Acura Integra
• 1999 Ford Taurus
• 2002 Ford Explorer
At the same time, the NICB said that the preliminary 2008 FBI Uniform Crime Report shows vehicle theft is on pace to decrease by 13.1 percent compared to 2007.
If the projection holds, 2008 would be the fifth consecutive year of declining vehicle thefts. NICB said if that trend continues, total thefts for 2008 would be below 1 million vehicles—a 20-year low.
The NICB said certain models of older cars and trucks are popular with thieves because of the value of their parts.
“Frequently, the parts can be stripped from a car at a chop shop and sold for at least twice as much as the value of the vehicle on the used car market,” the NICB said.
The organization added that newer models are also more difficult to steal because of anti-theft technology incorporated by the manufacturers.

Thus if you are looking for auto insurance for any of the listed vehicle which also requires a comprehensive and theft coverage, you will naturally pay higher.
However, the good news is that the thefts are decreasing, and secondly you can alwyas compare auto insurance quote online for free and review your car insurance coverage. You will certainly find the best auto insurance rate for your vehicle.

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Dianara :What determines the price of my auto insurance policy?
Respionse : There are many factors that influence the price you pay for auto insurance. The average American driver spends about $850 a year. Your premium may be higher or lower, depending on the following :
1.Your driving record:The better your record, the lower your premium. If you’ve had accidents or serious traffic violations, you will pay more than if you have a clean driving record. You may also pay more if you haven’t been insured for a number of years or are a new driver.
2. Mileage of use :The more miles you drive, the more chance for accidents. If you drive a lower than average number of miles per year, less than 10,000, you will pay less. For instance, some companies will give discounts to policyholders who carpool.
3. Geographical area :-Where you live. : Insurance companies look at local trends, such as the number of accidents, car thefts and lawsuits, as well as the cost of medical care and car repair.
4.Your age:In general, mature drivers have fewer accidents than less experienced drivers, particularly teenagers. So insurers generally charge more if teenagers or young people below age 25 drive your car.
5.The car :The car you drive decides your insurance rate.Some cars cost more to insure than others. Variables include the likelihood of theft, the cost of the car, the cost of repairs, and the overall safety record of the car.
6.The amount of coverage.Of course, like anything else, the more coverage you have, the more you pay. However, you may qualify for discounts.
It is best to compare your car insurance rates and auto insurance online for free and see what the changes are. Friends this is a dynamic market and so it pays to compare auto insurance quotes – 411.

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9 steps for buying cheap auto insurance

Perry : I am looking into buying auto insurance, can you give me some steps?

Reponses : For anything if you do something systematically you will always benefit financially and also save money. Here are the 10 steps which will help you buying auto insurance:
1) Decide on the limits of coverage – first find out the mandatory requirement of your state and still go for higher limits.
2) Check your driving record and current insurance policy. You can check that you have a good record and what are your coverage’s on the policy.
3) Your first objective for auto insurance is to review auto insurance and find the cheap auto insurance quotes. Shop around and find the two lowest quotes.
4) Compare your auto insurance quotes and coverage’s and choice the best quote for yourself.
5) Check the discounts offered by the insurance companies and see if you are eligible for one.
6) Choice the right insurance company – Find out if the insurance company is licensed in your state and has good customer service. Most of them will have that -so do not worry much about this.
7) Call on the insurance company which had the lowest quote and confirm the coverage and ask any questions you had.
8) Cancel your old insurance policy if you have one.
9) Keep on shopping online for insurance quotes since the rates and discounts do change.

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No car insurance policy?

Martin : Can I drive my car legally without insurance?

Response: This is absolutely incorrect. Almost all states have a mandatory requirement for car insurance, at least auto liability insurance should be obtained, and secondly the financial responsibility laws must be fulfilled. Almost all states require that you should have auto liability insurance; secondly you have to fulfill the financial responsibility laws. If the state does not have minimum car insurance liability coverage, they would require that you have sufficient assets to pay in case you cause an accident. Incase, your assets are not sufficient to pay for a liability loss, you need to purchase at least the state minimum amount of insurance.

I would certainly advice you to buy insurance so that your assets can be protected and you are relived of the responsibility with dealing with legal matters for settlement of the claim, giving you peace of mind. It is better to incur a little expense on the insurance since being shortsighted can land you in trouble. The insurance industry and consumer groups generally recommend a minimum of $100,000 of bodily injury protection per person and $300,000 per accident since accidents may cost far more than the minimum limits mandated by most states.

If you’ve financed your car, your lender may require comprehensive and collision insurance as part of the loan agreement.

Compare auto insurance quotes online, I assure you that you will find competitive quotes.
Thanks.

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