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Monthly Archives: January 2018

Get Cheap Auto Insurance

1. Liability: This coverage pays for third-party personal injury and death-related claims, as well as any damage to another person’s property that occurs as a result of your automobile accident.

2. Collision: This coverage pays to repair your car after an accident. It is required if you have a loan against your vehicle because the car isn’t really yours – it belongs to the bank, which wants to avoid getting stuck with a wrecked car.

3. Comprehensive: This coverage pays for damage incurred as a result of theft, vandalism, fire, water, etc. If you paid cash for your car or paid off your car loan, you may not need collision or comprehensive coverage.

In addition to the coverage listed above, other optional coverage types include the following:

a. Full Tort/Limited Tort: Your insurance will be reduced by a few dollars if you give up the right to sue when you get an accident. However, giving up your rights is rarely a smart financial move.

b. Medical Payments/Personal Injury Protection: Personal injury protection pays the cost of medical bills for the policyholder and passengers. If you have good health insurance coverage, this may not be necessary.

c. Uninsured/Underinsured Motorist Coverage: This type provides for medical and property damage coverage if you are involved in an accident with an uninsured or underinsured motorist.

d. Towing: Towing coverage pays for a tow if your vehicle cannot be driven after an accident. If you are a member of an automobile service, or if your vehicle comes with roadside assistance provided by the manufacturer, this coverage is unnecessary.

e. Glass Breakage: Some companies do not cover broken glass under their collision or comprehensive policies. In general, this coverage is not worth the long-term cost.

f. Rental: This insurance option covers the cost of a rental car, but rental cars are so inexpensive that it may not be worth paying for this coverage.

g. Gap: If you demolish that $35,000 sport-utility vehicle 10 minutes after you drive it off the lot, the amount the insurance company pays is likely to leave you with no vehicle and a big bill. The same thing applies if your new set of wheels gets stolen. Gap insurance pays the difference between the blue book value of a vehicle and the amount of money still owed on the car. If you are leasing a vehicle or purchasing a vehicle with a low, or no, down payment, gap insurance is a great idea.

Vehicle Insurance Online

Once you have gathered information about your car, driving record, and personal information, you can enter the information once at an insurance comparison site and get instant quotes from several different companies. These sites give you side by side comparison of the same coverage plan from several different vehicle insurance companies for free.

Check Around

It is also a good idea to go to a couple of insurance comparison websites to find the best deals. The same insurance company may offer different rates at different websites.

Look at the Deductible

Another way to get a cheaper quote is to change the coverage plan by raising the deductible or reducing coverage. Both options can save you hundreds a year, but you need to have the financial resources for such a risk.

Receive Information Online

Once you find a price and plan that interests you, you can select it to receive more information from that insurance company online or through the mail. After an insurance agent has time to look over your information, they may be able to offer you an even lower quote.

Check Any Time

Besides comparing quotes from vehicle insurance companies, you can also apply for insurance online at any time that is convenient for you. You can start your application, stop for a snack, and finish it later on. If you prefer, you can also schedule to talk to someone over the phone or at an office.

Check Often

A yearly check of vehicle insurance rates is a good practice. Increased safety features in cars and aging baby boomers have resulted in a drop in accident rates. With increased competition, insurance companies have been pressured to reduce their rates and pass the savings on to you. This is a trend likely to continue for some time.

Must Protect Your Assets

Car manufacturers, in order to solve these problems, put additional parts in cars to enhance their safety components. They put seatbelts and air bags to protect the driver and the passengers. They also make the body of cars durable enough to withstand collisions. Car manufacturers usually put every car through several tests to determine how it will react to collisions, before putting it in the market to insure its durability.

Even with these safety measures performed by car manufacturers, accidents still happen. Most accidents are caused by reckless driving and driving under the influence of alcoholic drinks. On the average, a motor vehicle crashes every 5 seconds, a person is injured in an accident every 11 seconds and a fatal injury occurs every 12 minutes. These statistics are convincing evidence of why auto insurance coverage is so necessary.

Drivers are not the only reason why accidents occur. Sometimes, the cars that drivers use can also be the major cause of an accident. Passenger cars and light trucks accounted for nearly 95% of the 11 million vehicles involved in motor vehicle crashes in 2004. Large trucks accounted for only 15 % of the vehicle accident. Regardless of the severity of the crashes, the majority of the accidents occurred during daylight, in normal weather conditions, while driving on a straight roadway. This pattern shows that no one can say that he/she is safe riding in any type of vehicle.

As stated, accidents do happen, but you can avoid them by following simple safety measure, include the wearing of seat belts and the following of simple traffic rules such as paying attention to speed limits and being cautious of your surroundings. Having car insurance is also advisable for your protection. This will serve as a protection for you and your family. It does not protect you physically in the same way that seat belts and air bags or helmets do, but it can protect you and your family financially.

Reduce Car Insurance Premiums

1. Shop For A New Policy. Even with “loyalty discounts” in place, many consumers will find that a competing company will offer significant savings over your current plan. This especially holds true if your state recently opened up the market to invite more competition in.

2. Change Your Coverage. If your vehicle is old, you many want to consider dropping collision coverage. Your comprehensive coverage may also be due for reexamination. Finally, make sure that there aren’t duplicate costs included such as towing insurance if already offered through your automobile club.

3. Family Status. You may be paying more for your insurance if your policy shows that you are single when, in fact, you were recently married. Rates are generally lowered for married folks as well as those over a certain age.

4. Up Your Deductible. You can realize instant savings by raising the deductible you are willing to pay. Maybe you don’t need a $200 collision deductible when $500 is sufficient.

5. Get Security Discounts. If you park your car in a locked garage and/or have an alarm system installed make sure that your insurer is aware of this as your premium will be adjusted downward.