The Strange Fact about Car Insurance Quotes

November 28, 2017 · Posted in General Articles on Car Insurance · Comment 

Many people might not know this, but those who work in the insurance line are all but too familiar with this strange trend. Car insurance products have the record for being the most variable price amongst all insurance products even given the same insurance variables. Meaning, even if you supply the different insurance companies with the exact same data and request for a car insurance quote with the exact same coverage, you will get wildly different quotations, some probably doubly expensive compared to the cheapest. All the variation in prices cannot account for anything, purely the profit margin that the insurance companies want to make off you.

This is even to the point that some of the smaller car insurance providers specialize in making their living on preying on people who aren’t too careful with their car insurance products and will simply settle for the higher priced policy because they are either too lazy to obtain quotes from other providers or are too trusting of their insurance agents who might get a higher “cut” by referring them to car insurance quotes that are simply too expensive for their coverage. The insurance industry especially for companies that specialize in car insurance products is very competitive now. The bigger institutionalized insurers are generally able to provide cheaper quotes to end users through the sheer volume that they pass through their system. This leaves very little room for the small neighborhood insurance agencies in terms of pricing and coverage. They have to either rely on their better customer service or extra frills that large insurance providers can’t offer. Some have taken this too far and decided to prey on the unsuspecting customers who obtain the first quote and sign up for the car insurance policy without looking around or even looking through the details of the insurance coverage.

Just to compound matters even more, what these insurance companies are doing isn’t exactly wrong. Although some people would rightly consider it preying on the unsuspecting car insurance rookies, the industry actually considers it smart customer profiling. There are no laws against these practices and even industry watchdogs have turned a blind eye to this practice saying that any fault would lay squarely on the arms of the person requesting the car insurance quotation. Looking at it subjectively, as with any purchase, it is up to the customer to find out if they are getting a good quote. It isn’t the prerogative of the insurance provider to give you a quote at the market price. Almost all insurance companies are profit making entities and thus must strive to satisfy this need. Customer profiling is looking at the pool of customers that you can potentially target and find ones that are easily satisfied with whatever quote your provide to them.

Being a prudent customer also calls for you to at least get a few quotes from different car insurance companies. We can certainly understand that many people are indeed busy to liaise with the different car insurance companies to obtain quotes however the benefit of doing it (lower quotations and market analysis) far outweigh any inconveniences with filling up forms and calling the insurance company to chase for quotes or verifications.

Some people will simply stick to their insurance provider year-in year-out just because they are comfortable with their arrangement. Some insurance companies have a policy which increases your premium by a few percent every year. Over a number of years your car insurance policy could have gone up in cost by as much as 50% but you don’t really feel it due to the small incremental percentage increases. It is only when you actually take the step to take the same date that you have and apply for the same insurance coverage with other companies that the differences are highlighted. Even when you already have an on-going insurance policy, there is not reason why you should not be looking around for a better deal with other insurance companies.

The morale of the story here is to be prudent not only when looking for a car insurance quote the first time, but also be prudent even if you have and existing policy. Always be on the look-out for better deals on the market. Insurance companies really have very little loyalty to their customers and you should treat them the same way that they treat you. Always be cautious of the price and keep a look-out of changes in policy that should be reflected in the pricing.

How Can I Keep My Auto Insurance Costs Down?

November 16, 2017 · Posted in General Articles on Car Insurance · Comment 

Before people can legally drive a vehicle on the public roads and highways, they must have auto insurance. Because auto insurance is the law, it makes sense that people would want to take advantage of different ways to lower their insurance premiums. Fortunately, there a number of ways drivers can lower the price they pay for their auto insurance.

Below are a number of tips to keeping your auto insurance costs down:

1. The best way to acquire cheap car insurance is to compare insurance quotes from a number of different auto insurance providers. Most insurance resource websites provide an insurance quote search tool where all users have to do is submit some personal information such as the make, model, and year of the car as well as the ZIP or Postal Code. After clicking the ‘search’ button, there will be an extensive search for the cheapest car insurance quotes. In a matter of seconds, users will receive the cheapest quotes from several different insurance providers. Then, they can relax and carefully review each quote to determine the best and cheapest quote that meets their needs. They do not have to worry about high pressure sales tactics. It is a fast and easy to use resource that can help people save a lot of money on their insurance.

2. Another way you can keep your auto insurance costs down is to determine the type of insurance that will best meet your needs. For instance, if you have an older car that is only worth a couple of thousands dollars, you will likely not need collision insurance because the insurance company will only cover the actual value of the car. Also, you want to make sure you have the proper amount of liability insurance. States and provinces will have set a minimum amount of liability required; however this may not be enough to provide coverage in all situations. Most experts recommend a $1,000,000 liability policy. Also, you can lower the amount you pay monthly for your policy if you pay a higher deductible; however, it is important to make sure you can pay the deductible if you have to make a claim.

3. To save money on your insurance policy, inquire about special discounts and incentives. Taking advantage of a number of discounts will drastically reduce your insurance costs. Discounts and incentives an insurance company may offer include: driver safety program, driving a fuel efficient car such as a hybrid or electric car, bundling insurance policies such as home and auto in one policy, maintaining low mileage annually, anti-theft devices, safety devices such as air bags, retirement discounts, etc.

4. You can make personal lifestyle changes to reduce your car insurance costs. You can do such things as: cleaning up your credit history and maintain a clean record such as paying your bills on time, avoid traffic violations, avoid speeding tickets, maintain a clean credit history, do not add high risk drivers to your policy, avoid criminal activities when driving such as driving under the influence, etc.

Because we all have to purchase auto insurance so that we can legally drive, it is very beneficial to take measures to reduce insurance costs, especially during tough economic times. Fortunately, with a bit of practical knowledge about how to reduce insurance costs, you can end up buying very affordable auto insurance.

 

How To Lower The Cost Of Your Car Insurance

October 24, 2017 · Posted in General Articles on Car Insurance · Comment 

Getting insurance coverage for your car must be high on your list of priorities and you need to do a fair amount of research looking for the right policy before choosing your car insurance. Comprehensive planning and some wise thinking and effort on your part can save you from making a lot of expenditure on your policy.

The process starts at the moment of purchasing your car. Even before you finalize and select the model of your car, figure out the type of car insurance you can obtain for it and how much you have to pay for it. It is advisable to compare online quotes from different companies offering motor insurance, as they are normally less costly than what you can obtain offline.

Do keep in mind that it is less costly to pay the yearly premium in a lump sum, in which case you avoid the interest levied on payments made in monthly break ups. Thus, it is advisable to pay the total sum at one time when you are purchasing insurance.

Expenses on car insurance can also be reduced by maintaining a good driving record. In many nations, this can be a very important factor for firms to estimate the price of your car insurance, as it reveals the degree of risk they are taking upon themselves. Installing sophisticated gadgets like anti theft systems can also get you lesser premiums from insurance companies.

Showing faithfulness to your insurance company is usually a sensible idea as companies charge lesser from their long tenure policyholders. But you must be aware of the newest insurance schemes present in the market, and should ask for concessions when you renew your policy.

Without neglecting the cost factor, you should go for a good policy which will cover loss from unpredictable mishaps such as natural calamities, robbery, accidents etc. A properly selected motor insurance package, which caters to your needs and fits your budget, is a good expenditure that will protect you against accidents.

 

Pointers On How To Select A Car Insurance Company

September 21, 2017 · Posted in General Articles on Car Insurance · Comment 

There are a lot of car insurance firms that exist in the market, each claiming to be the least expensive and the best. That is exactly the reason why you must do a careful analysis and follow certain principles prior to spending your money on a car insurance.

The primary task is to figure out your exact insurance requirements. It would be prudent to take lesser insurance if your risk quotient falls in the lower risk category. It might expose you to a certain amount of risk, but it is a lot cheaper and the benefits might outweigh the costs.

It is also important to estimate what type of car insurance fits your budget. Since several insurance companies give rebates, you must make the best of the packages on offer to bargain on the type of coverage you want within your limited budget. But a company that has the most inexpensive car insurance quote might not turn out to be the most beneficial if you ever meet with a car accident. Hence, you must carefully read through the terms of the insurance policy and acquaint yourself with the premium amounts and claim privileges.

The employees are usually an excellent pointer to the kind of services the car insurance firm will be able to offer. You can be sure of yourself to be rightly taken care of if your agent is qualified, knowledgeable and pleasant.

You should ensure that you do a complete and careful background verification of the car insurance firms that you find appealing. You must be well-informed about their strengths and credibility, which can be found out with the support of public sources or from their market reputation. You can also do some basic internet research for reviews and opinions on the public forums about the insurance organization.

It is vital to pose your query to the car insurance provider about any confusions that you might have, and precisely what is required from your side in case of an accident. In the end, you should get a deal that fits well with your requirements.

 

Get Young Drivers Insurance

September 20, 2017 · Posted in General Articles on Car Insurance · Comment 

When preparing to buy some young drivers insurance there are many things you must take into consideration,first of all is your young driver properly trained to drive a car, well if he has only a couple of hrs of driving time then no he is not ready. Spending good quality time in the car learning him or her proper driving techniques and good driver etiquette is very important. Many parents are busy trying to make ends meet is this tough economy and think they don’t have the time but they have to make time to teach the new driver.

A ounce of prevention is worth a pound of cure and a parent needs to apply that liberally to their young driver , explain to them all about what what can happen if they have a accident and how it will affect them in the future. Telling your kids that they can be paralyzed or killed if they drive reckless may have a good effect on their driving but bear in mind it can really happen and you have to stamp it into there memory to be ultra careful when driving.

Practice safe driving with your young driver, let them drive the car with you at least 10 to 20 hrs before letting them take off by themselves,having them know how much you care about their safety makes all the difference . They will make less mistakes if they feel as if you are watching over their shoulder,also let them get their confidence early on while they are learning to drive with you in the car.

When searching for young drivers insurance there are some things to keep in mind,first of all you are trying to save some money and you have to get several quotes to find the lowest rates that are available. Then you have to find what you can use to keep the cost low, if your youngster has or will be taking a drivers education course then the insurance company will take that into account , also if he or she is a honor student or has above a 3.0 grade average or better that will help too.

Your driving record is very important and anything that damages your record will have a negative effect on your insurance cost , speeding tickets,reckless driving,DUI,endangerment, or any of the charges related to driving will cause problems.

Take time out to learn about each company that you are considering buying insurance from,each company has their own good advantages and disadvantages. Never assume the cheapest rate is the best thing for you, while one rate may be the lowest it may contain clauses in the fine print that is not in your best interest,such as it could have a arbitration clause that you are not aware of.

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