Saturday, January 19, 2008
Auto Insurance - 7 Ways To Lower Rates
Do these seven things and you ll definitely lower your auto insurance rate by a very huge margin. 1) SAFETY AND SECURITY FEATURES... Pick a car that has the following: Alarm system, anti-lock brakes, daytime running lights and any other safety or security device. Since they will make you and your car safer they are thus considered lower risks by insurance companies. Those cars will earn you discounts. 2) GET A THIRD PARTY POLICY ONLY... If you wish to save a bundle, go for a third party only policy. The law in most places will accept only that. As the name connotes, any damage to your car will not result in any reimbursement. It merely caters for the other individual s car. You ll be expected to take care of your own car on your own. If your car is an old one, this has to be your best option. The fact that your compensation is based on the value of your car at the time of a crash makes it unadvisable to buy collision coverage for an old car. Include your deductible (An amount you must pay before your insurer fulfills its obligation) and you ll discover that if your car is simply an old one, not a classic, what you ll be reimbursed will not be worth the premiums you would have been spending. The exception to this is where it is a classic. I personally do NOT assume it is worth it if all you get from an insurance company for a policy doesn t justify the total amount you spend. 3) REDUCE YOUR MILEAGE... Make use of the mass transit system whenever you can. The more your mileage, the higher the likelihood that you will have reasons make a claim soon. 4) DEFENSIVE DRIVING... Get trained in defensive driving. More than making you drive better, it will help you get cheaper auto insurance. 5) EXCELLENT CREDIT... Your credit history is an issue you cannot afford to joke with. People who are involved in retailing will quickly assent to the reasoning behind this argument... A credit history says a lot about a person. If yours is a really terrible credit history, an insurance company will definitely see you as a high risk. 6) RAISE YOUR DEDUCTIBLE... Opt for higher deductibles. Raising your deductible reduces your vehicle insurance premium. Just note that when you make a claim, the insurer expects you to provide the deductible before they ll perform their part of the policy. 7) GET QUOTES... You ll save a lot if you will shop around (by visiting quotes sites and do detailed comparison. You ll realize savings if you visit only one quotes site. But keep this in mind; you ll get better results by using at least three. The straightforward logic in this is that you ll receive many more quotes from many more insurance companies. This increases your chances of getting better offers. Here are my favorite pages for auto insurance quotes... InsureMe Auto Insurance Quotes Hometown Auto Insurance Quotes Publishers can get unique versions of my articles by following any of the links above. Click on To Use My Articles when you get to my site. Chimezirim Odimba writes on insurance.