SUBSCRIBE HERE!! https://youtube.com/kevinhunter7 Why pay top dollar for car insurance? SAVE MONEY with Cheaper Auto Insurance NOW! These are the top 10 ways to lower your car insurance bill. Buying a car? Do you have an updated car insurance quote? Don’t ever buy car insurance again without doing your homework first! Don’t renew your policy without SHOPPING your insurance again! Get Cheaper Car Insurance NOW! Experts often tell you to buy as much car insurance as you can afford. That’s probably not helpful unless you know the basics on how auto insurance works — and which coverages you can’t skimp on. Compare car insurance quotes only when you understand the coverages that are best for you. It might be helpful to use our auto insurance coverage calculator to see what other drivers like you — your age, in your state — choose, and what we recommend.
1) Some of the most helpful coverages are the cheapest.
The coverage you are required by law to buy — liability insurance — typically is the most expensive. It should be. The most common coverage limits can mean your insurance carrier is on the hook for hundreds of thousands of dollars for any damage you do.
Most other coverages are capped by the value of your car, though.
While collision, which pays to repair your car if you are at fault, can be pricey, other optional coverages such as gap coverage, roadside assistance, rental reimbursement, uninsured/underinsured motorist coverage, and comprehensive coverage can provide a lot of protection for a little price increase. Comprehensive coverage is usually the most expensive of these coverages, but is still usually about half the price of collision coverage and a third the price of liability coverage.
2) Many factors can affect your car insurance rate.
Auto insurance companies use many different criteria when evaluating an insurance application during a process called underwriting. Each car insurance company has many guidelines regarding which groups of drivers they want to accept and how much they will charge those groups they consider a greater risk. The guidelines are different for each company, meaning that two companies comparing the same driver can arrive at vastly different conclusions.
3) Insurance prices vary (a lot) by company.
You’ve probably seen commercials saying you can save money by switching to a certain car insurance company. How can so many companies make this claim?
4) If you let your policy lapse, you’ll pay more in the long run.
Most insurance companies view drivers who are licensed but don’t have insurance as risky or irresponsible. Because of this, if you let your policy lapse, you’ll probably pay more when you go to buy car insurance.
5) Higher deductibles can lower your premium.
Insurance prices are based on how much money the insurance company believes it could have to pay. If you agree to pay for a larger portion of your own damages by raising your deductibles, your car insurance company automatically knows they won’t have to pay as much for your claims.
6) Insurance discounts can make a difference.
Most insurance companies offer auto insurance discounts for things like a safe driving record, car safety features, anti-theft devices, electronic payments, payment in full, and more. Make sure you’re getting rewarded for being a safe driver and for having a safe car by shopping around for car insurance that appreciates your record.
7) Coverage affects what you pay.
The majority of your car insurance premium generally goes toward the legally-required liability portion of your policy. It’s typically not a good idea to reduce this portion in an attempt to save money, because you’ll be responsible for any amount of damages above your policy limits.
8) The car you drive can affect your auto insurance rates.
The Highway Loss Data Institute compiles insurance accident statistics for most types of cars. Many insurance companies use data like this when setting prices on your insurance. For example, if the car you drive is very expensive to repair, the company is going to have to pay more if you get in an accident.
Have you see the “How to buy a car” series? We cover how to buy a car from a dealer with cash, with no credit, with bad credit, with your own bank financing, or with dealer financing. You need to know how to buy a car from a dealership. Car buyers wonder “How do I buy a car and not get ripped off?” Beating the finance man at the dealership is a big part of it. From the Author of “13 Car Buying Mistakes” and “Car Scam of the Decade,” Kevin Hunter presents many different topics on beating the car dealership finance office.
Kevin Hunter covers everything from extended warranties, GAP insurance, theft protection… otherwise known as window etching, paint sealers, carpet and fabric protection. All the details on HOW TO BUY A CAR, TRUCK, or SUV.
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