Car Insurance DiscountsWritten by Tim Register
Trying to save money wherever you can is important to us all. Insurance should be no different. Do not assume that your agent knows everything about you and your vehicle. CarInsurance.com goes out of their way to find all possible discounts that are available to each customer. Drivers should take advantage of all discounts that many providers offer, that can significantly reduce cost of car insurance. Understanding discounts and how they can affect auto insurance premiums can help smart shoppers make better decisions about their coverage and possibly save themselves some money in process. Read below to identify possible discounts that could help you save on auto insurance this year. Other than discounts, there may be some other ways for you to save on your insurance premiums. We will go over several discounts that can help with your current situation. First, there are discounts for Auto Safety features. Certain states will give you discounts for anti-lock breaks. Make sure you know if it is two or four wheel anti-lock break vehicle. Automatic seatbelts and airbags are frequently discounted on your insurance premiums. In most states, a defensive driver class discount may apply. If principal driver usually 55 years old or older has completed an approved defensive driving class a discount could apply. Keep in mind that most states will only approve this class if it is voluntary meaning that it was not result of a violation or infraction. Some insurers will give you a discount for having multiple vehicles. In some cases, this will only apply if you have two or more drivers. If you have a clean driving record, meaning you do not have any tickets, accidents or suspensions in last three years (some companies require five years) then you could be eligible for a safe driver's discount. Many companies will reward you with staying with same insurance company for many years without any accidents reported. They will offer you a renewal discount. It makes sense, you have carried insurance with a company for several years, and have not had an accident, your insurance company likes you and wants to reward and keep your business. Some companies honor you with a discount if you had prior limits on your previous policy. They discount you because they understand you are a better risk.
| | Should You Have Higher Deductibles On Your Coverage?Written by Erick Pace
What is a deductible? A deductible is amount you pay before your insurance carrier pays any claim. Insurance companies offer deductibles on certain coverage in insurance policies as a method of sharing risk with people they insure. Insurers believe that if you, insured, share some of risk you will likely be more careful and try to minimize possibility of a claim. Since you, insured, pay your share before company is liable for their share, smaller potential claims are often avoided. What is right deductible to carry? It depends not only on particular coverage but further on your willingness and ability to pay specified amount in event of a claim. In other words, select a deductible based on your tolerance for risk. Your agent should be able to help you choose a deductible that is right for you. Often, decision is an easy one as insurers may only offer a few choices in deductible for a specific coverage. Typically, which type of coverage offers a deductible? The most common type of coverage with a deductible is physical damage (also known as comprehensive and collision). This is coverage for your vehicle itself. For damage caused whether or not at fault. In many cases if you have borrowed money to purchase your vehicle through a bank or credit union, lien holder will require that you carry this coverage. This coverage is usually required in event any damage occurs while you are still paying for vehicle. Typical physical damage deductibles are $250, $500, and $1000. Higher deductibles will reduce cost of your insurance by lowering your premiums. When evaluating higher deductibles, it is a good idea to consider carefully your circumstances. Ask your insurance provider for quotes for various deductibles, and analyze them carefully before making a decision. The higher deductible is on a specific coverage, lower premium for that coverage. This is a great way to save on total cost of your policy. For example, increasing your deductible from $250 to $500 could reduce physical damage portion of your policy from 15% to 30% depending on your insurance carrier.
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