Cut Your Auto Premium Payment
Have you ever wondered how insurance agents come up with insurance premium numbers
? The common factors like age, sex, car type and driving record but also noted a new, little known factor.Companies are now, of all things, checking credit because people with poor credit, statistically, can be susceptible to more claims. Some people in these cases are more apt to file a claim instead of settling it themselves because they might not have the means to handle it any other way.
Regardless of good credit or bad credit, it's recommended that people shop around for car insurance. Even if you have pristine credit, some companies put more of a value on credit than others.
Once you find a car insurance company that provides the services you're looking for, keep in mind that the prices themselves are fixed by the insurance company, so haggling with your agent is out of the question.
Many of us have let someone else borrow our car for a short time. Maybe we're hurt and can't drive, a friend needs a car for the day, or we simply just don't feel like driving.
If you lend your car to an unauthorized person and they get into an accident, your car insurance company might do everything it can to get out of settling the claim. This is especially important for parents who have their kids named on their policy as drivers. Sometimes their kids let their friends drive the vehicle as well.
In some cases, drivers just don't have any control over what happens when they get into their vehicles. Hitting a deer one too many times or being rear-ended on more than one occasion, can also affect your car insurance rate.
Being at the wrong place at the wrong time can come back to bite you. It may not be fair that insurance companies handle certain people this way. Even if there's no real reason why some people get into more accidents than others, the fact is their claims cause companies to lose money.
Another thing to avoid is lying to your auto insurance agent. If you think he doesn't know about your tickets and accidents, think again. He's had a few people tell him their driving record, minus a few small details.
Drivers who talk on their cell phones and send text messages cause accidents. It might be a good idea for all states to raise the minimum liability limits and require that auto insurance in mandatory.
Chances are most of us live in a state where car insurance is mandatory. By keeping your credit score in check (or working to improve it), shopping around for a car insurance company that fits your needs and avoiding mishaps like speeding tickets and accidents, you'll be able to keep the cost of your car insurance down.
Also make sure to know what your current car insurance policy covers. You may have coverage that you don't need like windshield replacement or tow truck coverage. Adjust your coverage to get the car insurance that you need, with the price that matches your budget.
Here are some tips for cutting your insurance premium down. Get credit for driving less because high gas prices are encouraging more people to cut down on their driving.
Find out from your insurer what the low mileage discount is. Generally if you drive less than 7,500 miles a year you'll qualify for a 5 percent discount. Driving less than 5,000 miles a year will give you 10 percent off your insurance.
Your credit history may be influencing your auto insurance premiums. More than 90 percent of auto insurance companies use your credit information to determine how likely you are to file a claim on an insurance policy. If you don't pay your bills on time, you're going to pay higher premiums.
Join a club. You may get discounts, not only on what you do, but how you spend your time. Some insurance companies offer discounts to young people who volunteer or join civic or community organizations, like the Eagle Scouts.
Other organizations, like the Automobile Association of America, will lower your rates. You should also check with your employer to see if there are any group insurance rates. If you're thinking about switching your insurance company, make sure you ask about these kinds of discounts.
If you have an old car, you may want to consider dropping collision and comprehensive coverage. That's because you'll probably pay as much in premiums over a few years as you'd pay to replace or repair the car.
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