Buying auto insurance is an important part of your overall financial planning. The auto insurance premium rate varies depending on the company and the type of policy coverage you choose to have. Here are some guidelines to lower the cost.
Shop Around- Compare the costs by shopping around at least four to five insurance companies and comparing the quotes. Take the help of your friends, relatives and yellow pages. Your insurance company should offer fair price and posses excellent service records. Check the financial ratings of the company as it indicates the strength and stability of the company.
Ask for higher deductibles- Deductible is the amount of money that you pay before making any claim for an accident. The collision and comprehensive coverage are sold with the deductibles. Higher the deductibles lower will be the premium rate. Increasing the deductible from $200 to $500 may reduce the cost by 15 to 30 percent.
Drop collision and comprehensive Coverage on older cars- If your car is worth less than 10 times your premium in the current market, consider dropping the collision and comprehensive coverage.
Buy auto coverage from your existing insurer- Buy insurance coverage from your existing carrier. This may help you to reduce the cost. Sometimes low rates are available for the longtime customers.
Avoid double health coverage- If you think that you have enough health insurance, and then avoid health coverage with your auto policy. This will help you to reduce the cost.
Maintain a good credit record- Insurers are using the credit history while determining the price of insurance. Statistically, the lower your credit score, the more you are likely to file claims. A person with a good credit score is more likely to settle the accident without the support of the company. Try to maintain a good credit record.
Discounts with low profile car- Cars that are expensive to repair or attractive to thieves will have a higher rate. Consider buying a low profile or average car as it your insurer might come up with discounts for such a car.
Take advantage of the low mileage discount- Obtain some discount on premiums by driving less than the national average mileage recorded per year.
Consult about group discount- Sometimes you can get some discounts on group plans provided by your employer, or a business groups, or other associations. Find out whether such a plan is available.
Seek Car Safety discount- Some insurers offer discount if you keep your car equipped with air bag, anti-lock brakes, anti-theft devices, automatic seat belts. Take advantage of this.
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Filed under auto insurance price quote by on Aug 19th, 2009. Comment. 
Their scams had amassed £8 million and involved hundreds of possibly staged crashes, now 25 arrests have been made in Manchester following a three-year investigation into a gang of insurance fraudsters. So is the face of insurance fraud changing? And how much does it cost us?
The methods used have become known as ‘crash for cash’ scams. By disconnecting the break-lights on their own cars, the fraudsters would drive around as normal until they approached a roundabout or junction where they would break suddenly causing the driver behind to smash into the back of them.
After calmly acquiring each other’s insurance details, the thieves, according to The Mirror ‘would submit hugely-inflated insurance claims,’ even to the point of faking injuries such as whiplash and including additional car damage that hadn’t seemingly happened during the collision.
Similar scams have been carried out by fraudsters and are perhaps best well known in the US. So-called ‘swoop and squat’ scams involve a third car that cuts of the criminal positioned in front of the victim who rarely manages to stop in time. There is also the Panic Stop where a criminal passenger sitting in the rear of a car of scammers keeps an eye on the victim behind until he/she turns on the radio or checks their mobile phone, this is the moment that the fraudsters stop suddenly.
The Manchester Evening Standard reports that Greater Manchester police estimate that the amount made by each ‘crash for cash’ scams averaged £20,000. Countrywide, this type of insurance fraud is costing the industry £1.6 billion a year which adds an average £40 to each premium. Richard Davies, from the Insurance Fraud Bureau warns that ‘this problem is nationwide and it is growing’.
Clearly however, the problem goes far beyond the added expense it adds to car insurance premiums which everyone pays for, there is also a safety issue that should be considered, as luring cars to smash into your own is surely a dangerous business for everyone involved.
However, we all need car insurance and with so many policies and prices to choose from on the web, finding cheap car insurance is easier now than ever.
Filed under auto insurance price quote by on Aug 12th, 2009. Comment.
any other car insurance?
hey can anyone suggest me a good car insurance for my 96 integra.i want to go only for liability insurance and the cheapest available.
i drive only 3000 miles a year but i have started driving only from a month.i am 25 years old and i had no insurance or driving history previously.i also got my license just a month ago..
geico and progressive are quoting 100 dollars a month that too only for liabilaity and minium coverage..
does anyone know any other cheap insurance companies which are also trust worthy.
thanks
hey i got my insurance done.i only paid 250 dollars for 6 months liability insurance from state farm..i also didnt had any driving experience in usa.i am glad that i found the right person
There are tons of sites where you can get a free insurance quote. http://www.usinsuranceadvisor.com/Auto-Insurance.html It only takes less than 10 minutes to do.
Filed under auto insurance price quote by on Aug 11th, 2009. Comment.