* Parts of an Auto Insurance Policy Declarations, Coverages, Supplementary Payments, Exclusions...Read more ...
* Saving Money on Auto Insurance Comparison Shop, Raise Deductables, Choose the Right Car... Read more ...
* Types of Auto Insurance Coverages Bodily Injury Liability, Property Damage Liability, Medical Payments . Read more ...
* Term Insurance is the most basic type of life insurance Read more ...
* Whole-Life Insurance is a policy that pays a death benefit no matter when the insured Read more ...
• Comparison shop: check with several insurance companies. Service should be a major consideration, as well as the company’s claims handling process and financial stability.
• Raise deductibles: you can reduce your premium by shouldering some of the risk. By increasing deductibles, you are responsible for small losses, not your insurer. By increasing your deductibles from $250 to $500, you could reduce your physical damage premiums by 15-30%.
• Chose the right car: before buying a car, compare insurance rates of similar models. Premiums are higher for most luxury and sport models because of higher repair costs and theft experience.
• Consider Eliminating collision and other than collision coverages: this is especially true as cars get older and depreciate in value. Be sure to keep auto liability coverages intact in order to comply with State Law.
• Ask about Discounts: Investigate the qualification requirements for all discounts. Most companies offer discounts for multiple cars and when carrying homeowners or another type of insurance with them.
• Eliminate Duplicate Coverage: Belonging to an auto club that provides towing services, or if provided by the auto manufacturer, may be a duplication of coverage.
• Drive Defensively: At at-fault accident or major traffic violation can affect future premium increases. Some companies reward policyholders for remaining accident-free over a certain time period.
• Avoid filing excessive or fraudulent claims: the more you file, especially small ones, the greater the likelihood that future premiums will reflect this. “Padding” a claim is insurance fraud, a crime punishable by law.
• Keep tabs on credit: Insurers utilize many resources in determining auto insurance premiums. An Insurance score, used by many insurers, is a snapshot of your insurance risk based on information in your credit report. (Find out about Insurance Scoring).
• Choose where you park: select well-lighted areas and keep windows up and doors locked when parking.