10 Ways to Lower your Car Insurance Payments
Many people buy their own cars because it makes life easier. However, many also struggle with the costs that come with maintaining a car especially when it comes to making car insurance payments. Many car owners are continuously in search for better ways to lower their car insurance premiums. What most do is simply search for companies that provide cheap car insurance. However, what many do not know is that they can save so much more just by following a few simple tips.
For those who aim to save on car insurance payments, the first thing to do is make sure to shop around every so often. In fact, the reason why six-month car insurance polices are most preferred is that it allows car owners to switch and buy car insurance from other providers at the soonest possible time. This means that it is important to continuously survey the insurance market to search for the cheapest car insurance around. Some people find that it is most effective to check out rates for car insurance online while others learn about the cheapest services from their friends and family. No matter what your preferred method for getting car insurance quotes may be, the bottom line is to find the best car insurance to not only suit your lifestyle but your budget as well. Many people who make this a practice report savings of over $300 on policies valid for six months. This would translate to so much more in a span of one year.
Another thing to consider when trying lowering your car insurance payments is to take the option for higher deductibles. Many car owners feel afraid to do this because choosing higher deductibles means shelling out so much more money in case they get into a huge accident. However, the logic behind choosing higher deductibles is pretty sound. Obviously, higher deductibles mean lower premiums. Therefore, lower car insurance payments. Car owners should not worry too much about higher payments when a major accident happens because minor accidents happen more often than major ones and when it comes to minor damages, car owners will still pay the same amount.
Many motorists prefer paying for their premiums in monthly installments because it allows them to shell out a relatively smaller amount at a given time and budget their car insurance payments along with the rest of their monthly expenses. However, what they do not realize is that even the cheapest car insurance providers add on administrative fees for each payment. Even if the additional amount is only $7 or so, for people paying their premiums at monthly installments, this could easily add up to $84 which they could have saved over the period of that one year
Another useful tip to help you lower your car insurance payments is to also look around for companies providing multi-line insurance. This means that you purchase all your insurance from the same company. Most insurers offer huge discounts for this. However, many people still try to look for cheap providers for each type of insurance they need. What they do not realize is that getting their car insurance and home insurance from just one provider can easily translate to about 15% savings.
Furthermore, if you think of yourself as a good driver and no evidence to prove otherwise can be gathered, here’s a good tip for you: look for car insurance providers that can reward you with big discounts simply because of your driving. In fact, some states such as California have made it illegal for car insurance providers to disregard good driving discounts. So, if you have not gotten yourself into any car accidents or received tickets for at least the past three years, do some research or ask around. You may qualify for lower premiums.
Nowadays, a lot of insurance companies will base the prices of their car insurance policies on your credit history. If you have been diligent in building a solid credit standing, then you stand a good chance on getting lower car insurance quotes when you buy car insurance. Aside from making sure unpaid bills don’t pile up, keep your credit balance as low as possible and don’t acquire more credit than you need. Keep your records updated and make sure to correct any errors so your credit history remains accurate.
Many car insurance companies also offer discounts to people whose cars have safety features. Airbags, seatbelts, anti-lock braking systems and other factory-installed safety features on your car may help you find the cheapest car insurance you can get. Make sure you tell your insurer that you have such features installed on your vehicle when you get car insurance quotes.
Sometimes it pays to be diligent to the point of being anal. If you want the cheapest car insurance you can get, you should review your car insurance coverage to check for unnecessary expenses in it. If you’re not thorough you may be spending on additional coverage that you don’t need or already have. A perfect example would be towing services. Most, if not all, auto clubs provide such services yet this is part of most car insurance policies as well. So before you buy car insurance review the car insurance quotes you’ve gotten and eliminate all the unneeded expenses.
If you’re looking for cheap car insurance, look for insurers that give discounts to students and senior citizens. Some car insurance companies will offer discounts for students with good academic records and for drivers over the age of 50. Ask around or research on car insurance online, as well, if you have a college student in your family. Some insurers give discounts to parents with college-age children who go to school a certain distance away from home and don’t bring a car to their campus.
One last great tip to lower you car insurance payments is to use your car less. There are a lot of car insurance companies that will give you discounts if you keep the annual mileage on your vehicle low. So, evaluate how you use your car. If you make frequent short trips around town you might consider planning ahead and organizing all your errands so you can check all of it off your list in as few trips as possible.
One thing to remember though is that car insurance companies may differ in what they consider to be low annual mileage, so do your research. If you think you might be able to lower your mileage then get updated car insurance quotes.
Following just a few of these recommendations will surely help you lower your car insurance payments. Remember, it is not always about finding the cheapest car insurance provider. Most of the time, it is simply about knowing your options and weighing them to find the perfect car insurance strategy for you.
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Help answer the question about car insurance
How do you buy car insurance online if you want to drive your dons vehicle?
He has full coverage but I am excluded on his policy because we have the same address. I no longer have a car so I don't carry insurance anymore but want to be covered if I need to drive my son's car.
About Author
Jason Gadayan is a contributing writer for http://www.carinsuranceforum.com
Tags: Buy Car Insurance, Car Insurance, Car Insurance Quote, Cheap Car Insurance
This entry was posted on Saturday, November 21st, 2009 at 1:24 pm and is filed under Car Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
9 Responses to “10 Ways to Lower your Car Insurance Payments”
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Even if she does have negative equity in the vehicle, she can still trade it in. She'll end up paying a higher payment(but probably less than she's paying now) for less car but it avoids insurance fraud.
Another option is to try to use equity from her home, if she owns it to consolidate the loan for a longer term or even looking for a longer term(probably higher rate) car loan.
Going with the idea of totaling it for the insurance money.
First, very very high chance she'll get caught and you would most likely be named an accomplice.
Second, She's going to pay much higher insurance premiums for most likely the next 5 years. Quite costly.
Third, It's morally wrong. Your momma should've taught you both better to even consider it.
You present quite a dilemma!
1) First of all, I am not sure you should let your uncle buy you a car since he is attaching so many stipulations. You also don't want it to be something he holds against you over your head for the rest of your life.
2) I never recommend buying a new car because of depreciation and the additional cost in finance interest. Get yourself a good used Toyota. Hondas are good too but tend to cost more on the used market. Nissans can even be good. There are plenty of parts availabe out there for those brands and you can learn to do simple maintenance on your own. More importantly, these cars can go for many miles with minimal maintenance. Changing plugs, oil changes, battery servicing are all things you can do. All you need is a set of simple tools (screwdrivers, pliers, etc.), a Haynes or Chilton repair manual and time. Although I buy a lot of things at Autozone (plugs, oil), I try to use factory parts when I can. Just be sure to go online and find a place to buy parts because online dealers are usually cheaper than paying retail at your local dealter. I go to Autozone because they tend to be very informative and I really like their rewards program.
3) Try to find a remote area, like a business office area and use it to practice your skills on weekends, holidays and evenings after rush hour. The more you practice, the better you'll get. If you can afford it, take a defensive driver course as well.
4) For used car values, vehix.com is a good place to start.
Good luck. You are wise to consider all these things. I think you have a good head on your shoulders and should do fine.
1. credit reports
2. 7 years
3. Kelley Blue Book
4 False
5 Retirement accounts
6 Disability
7 True
8 Revolving
9 True
10 Risk taking
11 Venture capitalists
12 ?
13 FDIC
14 Increase education
15 ?
16 Magazine
17 ?
18 Utilities
19 ?
20 Liquidated
21 Insurance Policy
22 Cash ?
23 Income potential
24 Worth less
25 ?
26 Higher
27?
28 Median
29 Sellers guarantee
30 ?
I hope this helps
DON'T DO IT. The insurance will only pay the value not the negative and she will still be sued for that and if the insurance people find out she will go to JAIL….she needs to find a second job or something legal to work her way out of this debt she shouldn't have been able to get into if she couldn't afford to.
As stated above, you need to check with your lender. Sometimes the amount of the loan is the amount of the loan and the ability to pay it off early is negotiated at the signing of the loan papers. You can also try to refinance with another bank, i.e. a bank or credit card company you already have an account with. A car dealership will always give a low selling price, but it is often very different than the price after interest and other "fees".
The pay scale down here is lower then up north but there is no state or local income tax. Generally, the closer to the beach the better the neighborhood. A 2 bedroom place near the beach will rent between $1000-$1500. Cheaper rents are available in the newer apartment & condo complexes in western Broward. They come with good amenities but a longer commute
Gas at my corner station is $2.75 right now & it fluctuates often. My 2 bedroom condo electric bill runs $75 & my a/c is always on. Basic telephone (land line) is $30. Everything else is done through my condo fee. Insurance, both car & house is so expensive it is going to shock you. Hurricane coverage is mandatory in many areas.
l took a work transfer to Florida 10 years ago. The tough part was deciding to go, after that everything falls into place.
i say your chances are 10 to 1
All you should have to pay is your deductable. I got into a parking lot accident and exchanged insurance information, and got my truck fixed. I have State Farm. I have had them for about 20 years now. Who do you have for an insurance company? What was the reason they said they wouldn't pay?
If they are saying that the 'other' insurance holder may not pay, is because they will probably tell a lie and say it was your fault so that the person who hit you won't have it on their record. Talk to an Insurance Adjuster and tell him/her what happened.
It's a good thing you didn't call the police. They can't/won't do anything when it's on private property (parking lots). Hound your insurance company, ask a lot of questions, and be honest of what happened. From what you wrote, you did nothing wrong. Some insurance companies will try to get out of paying, no matter who's fault it is. Depending on how old you are, and how many claims you have made, will depend on how much your insurance will go up. Besides, I don't think insurance companies should raise premiums if it's not that persons fault. It's unfair, but this is a money grabbing/gouging world. Go get a few estimates on how much it will cost to fix your car. More than the one estimate you got. That's what they made me do.
If the insurance adjuster seems as though he/she is not doing their job, then I would get an accident lawyer and see what your rights are on private property accidents with no injuries. Most lawyers will do a free consult.
Good luck.
PS: Do you have collision on your insurance? If not, then they will not pay. It comes straight out of your pocket and there's nothing you can do.