Want to learn something
new about auto insurance? Something that can save you a lot of money or
get a claim paid? Forget the usual tips. Check out these secrets.
1. Demand the legal policy minimums if you have no assets. Do you really
need a lot of liability coverage if you have no money in the bank?
Insurance companies will tell you that you do because you can be sued
regardless. It's possible. I can't promise you that you won't be sued
and end up paying a chunk of your paycheck to someone for life.
However, honest insurance salesmen admit that people without assets are
rarely sued. Lawyers work on a commission in these cases, and won't take
a case where there is no money to be collected. In fact, having a bigger
liability policy can be an invitation to sue, and it won't protect you
from personal liability, because they always sue for more than the
policy limit anyhow.
If you have no assets to protect, why buy auto insurance? Because it is
a legal requirement. In that case why not just buy the minimum coverage
required? But be careful. My own insurance guy lied for years, claiming
I had just that, when in fact I was paying for "company-recommended
minimums." You might have to push the point, and may even have to sign
something saying you understand how risky it is to be "under-insured."
2. Claim diminished value. If you have a collision policy, your
insurance company will pay for the repairs after an accident. However,
is the financial damage really fixed? Not necessarily. A car that has
been in an accident and had the body fixed may look the same, but it
won't sell for the same price. Would you pay the same for a car that has
been in an accident?
A car that has been in an accident might be worth $2,000 less than a
similar un-damaged car. This is called "diminished value," and may be
covered by your policy. However, diminished value is often not paid
unless you push the point. Get a car dealer to do an estimate of the
diminished value if necessary, and present this to the insurance
company. You pay for insurance to have your losses covered, and they
aren't covered if you aren't paid for this.
3. Lower your premiums by removing kids from the policy. You may have
already discovered that you pay a lot for insurance as long as you have
driving-age children at home. Even if they are off at school, if their
legal residence is your house, you pay more.
However, there is a little-known exception to this rule. If your
children are at a college that's more than 100 miles away, you can have
them taken off the insurance policy. This can dramatically reduce your
premiums. The catch? They are excluded drivers, so you can't let them
drive the car when they come home to visit.
These are just a few examples of the auto insurance secrets that
insurance companies probably don't want you to know.
By : Steve Gillman
Cheap Auto Insurance
Online For Your Teen
So, you have a teen that is at the driving age. Choosing the right auto,
the right insurance and the factors that determine price, is the purpose
of this article.
Choosing the right auto is very important to getting cheap insurance.
That flashy, red, convertible sports car really looks great, but the
insurance for it with a teen driver?... ouch!! Find out what your teen
can live with other than this and do your insurance shopping with that
model in mind.
Some of the factors that enter into price is:
1. Where do you live? In the city, a suburban area or in a rural
setting? The rural area will be the lowest rate with the city being
greater.
2. How many miles per year will the vehicle be driven and how many miles
to work, school or college.
3. The model and age of the vehicle and it's safety record. Sometimes an
anti-theft device will lower the rate.
4. The deductable amount and the coverage amount, these vary according
to area and what the laws are in your state. The more out of pocket you
can afford on the deductable the lower your rate will be.
5. Your teens grades at school is also a determining factor. The higher
the grades the lower the rate. Makes sense right?
6. Did your teen take drivers ed? Also a factor.
Make sure that your teen knows the importance of a safe driving record,
no tickets, no accidents. Over time, a teen with a safe driving record
will have their insurance rates reduced. Instill a sense of
responsibility in your teen for their freedom to drive.
Some insurance companies offer a policy for just the teen driver. This
way they aren't added to the families policy. This can be a lower rate.
There may be some restrictions, such as no driving after dark or others.
Use your favorite search engines to find insurance companies that have
the lowest rates for these factors. By shopping online you have a lot of
companies to choose from, and it is quicker than the yellow pages.
Keep all of these things in mind when shopping. Insurance rates vary
widely, so take your time when doing your research. Another way to
search for a good insurance company is to ask around at garages and body
shops. Those guys deal with insurance companies every day.
I hope that these factors will help you in finding that company that
will give you a good policy at the lowest possible price
by: Bill Weaver