Hidden Ways to Cut Car Insurance

Consumers are countering rising gasoline prices and other vehicle operating costs by capitalizing on lower auto insurance rates, according to leading insurers.

Auto policy costs and regulations vary significantly from state to state, but there are a number of areas that consumers are able to control and adjust to optimize prices and quality. Answer Financial (www.answerfinancial.com) has 10 tips for keeping your rates down:

Check Credit Rating. In all states except California and Georgia, an individual's credit rating is a key factor that affects auto insurances rates. Good credit will be interpreted by insurers as less risky. Thus, it's important for consumers to order copies of their credit report from all major credit agencies to ensure accuracy and to correct any inaccurate derogatory points, such as late or missed payments, maxed-out credit lines, bankruptcy, foreclosure, etc.

Check Motor Vehicle Report. Like credit reports, state driving records may include inaccurate data on personal driving records, which are strongly considered when issuing respective individual and family auto rates. In addition, tickets, traffic school credit, and accident fault are sometimes not accurately reflected in state data, costing consumers hundreds or even thousands of dollars. Drivers should report errors to both their state motor vehicle department as well as their insurance carrier.

Double-Check Accident Reports. Local law enforcement and insurance accident reports occasionally include mistakes that will result in a higher rate. Accident reports are separate from motor vehicle records. Accident reports affect insurers' decisions and rates on a cumulative basis particularly if the driver has tickets or accidents down the road.

Never Let Coverage Lapse and Review Deductibles. Maintaining coverage without lapse makes a significant difference in rates. Separately, while deductible amounts initially save drivers in the event of a quick claim, they cost consumers more in the long run due to higher premiums. Drivers almost always save on premiums with higher deductibles of $500 or $1,000.

Look for Package Rates. In addition to multiple-vehicle discounts, consumers often save substantially by packaging all their insurance policies including auto, home, and personal liability together with one company.

Don't Miss Good-Student and Mature-Driver Discounts. Most consumers know that safe drivers are rewarded by insurers, but it's important to make sure your policy gives you a good driver discount. Most insurers lower rates for mature drivers (55 years and over) and for students who carry a 3.0 grade point average or better. Some carriers give more credit for these points than others, so shop around.

Take a Driving Safety Course. Many insurers will cut rates for drivers who take an approved driving safety course. Make sure that you've registered for a course recognized by your carrier, which will not only cut your rates but likely save in ticket fines and reduce your risk of bodily injury on the road.

Don't Forget Car Pool Credit. Many auto carriers drop premiums if you car pool to the office, especially if you drive more than 10 miles roundtrip. In addition, you'll save considerably on the rising prices at the pump and lend a hand to Mother Nature.

Check Rates Before Buying a New Car. Insurance rates vary considerably from car to car. Often expensive vehicles can add $50 - $100 per month in premiums. The type of vehicle, engine size (you'll pay for that turbo), parts costs and safety tests are all factored into insurance premiums. Sport cars and SUVs generally are more expensive to insure. Buyers often do not realize the big rate differences until after they drive off the lot.

Take Credit for Safety/Security Features. Drivers should make sure they are receiving lower rates for safety features such as air bags and anti-lock brakes. Devices that deter theft, such as alarm systems or devices that disable or track vehicles (such as LoJack), may also qualify for discounts. Some companies even waive deductibles if the car has been damaged when it was stolen but is recovered using a tracking device.

For more information, go to www.answerfinancial.com.

Steve Kroll is senior vice president of marketing at Answer Financial, Inc. (http://www.answerfinancial.com). An acknowledged expert in consumer marketing, he has more than 17 years of experience as an executive in the financial services industry including six as president of his own consulting firm, The Kroll Group, Inc., which specialized in retail financial products and payment systems. Its client base included affinity groups, Fortune 500 companies, management consulting firms and advertising agencies. Kroll's marketing accomplishments include developing insurance and investment product offerings for Charles Schwab, Citibank, Household International and The Signature Group. He also has created multiple-useage incentive and retention programs for some of the nation's leading credit card issuers and developed new lifestyle-and affinity-related credit cards that delivered an above-average response and usage rate. Kroll has also assisted in the development and marketing of Internet-based financial services for Wells Fargo, NYCE and American Skandia.

---

Insure Your House

When we talk about insurance the thing you have to... Read More

The Life Insurance Policy and What You Need to Know Before You Buy

Are you looking to buy a life insurance policy? Well,... Read More

Everybody Wants The Best Term Life Insurance Quote

The information you need about the best term life insurance... Read More

10 Ways to Lower Your Auto Insurance

Nowadays, auto insurance is really expensive. A typical insurance policy... Read More

Life Insurance Whole Life or Term Life - Find Affordable Life Insurance

Life insurance, whether you need term or whole life, can... Read More

Accident Insurance Claim Personal Injury Insights

There's nothing that has a greater impact on evaluating a... Read More

Auto Insurance Rates

Auto insurance rates will vary depending on the insurance agency,... Read More

How to Reduce Home Insurance Premiums

Here are some useful tips on how to reduce Home... Read More

Insurance and The Engineer

The world is no longer right when the two words,... Read More

Factors That Affect Your Car Insurance Premium

Many factors affect the premium you will pay for auto... Read More

Travel Insurance Might Be Just What You Need!

Travel insurance is something that many people haven't considered. Sure,... Read More

Your Cars After-impact Diminished Value

The(ACV)Actual Cash Value Policy DOES NOT insure the property itself... Read More

Basic Coverage of Homeowner Insurance Policies

The insurance policy is a package that includes more than... Read More

Why Boats Are A Pleasure... But You Still Need Boat Insurance

One of the greatest pleasures that a man can have... Read More

Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.You are betting... Read More

An Intro To Life Insurance

There are many options available for life insurance, and for... Read More

Do You Pay Too Much For Your Car Insurance?

Do the premiums just seem to get higher and higher... Read More

Finding California High Risk Truck Insurance

California high risk truck insuranceIf your are in need of... Read More

If You Rent A Home, Protect It By Buying Renters Insurance

Renters insurance is often overlooked by people who are renting... Read More

Long Term Care and Long Term Care Insurance

A person might need long term care (LTC) if he/she... Read More

Filing Homeowners Insurance Claim Forms: What Steps to Take

Filing a homeowners insurance claim can be done with ease... Read More

Poor call centre performances driving motorists online for insurance

In their efforts to cut costs more and more finance... Read More

What Is Homeowners Insurance Coverage?

Before attempting to find the best homeowners insurance coverage you... Read More

Term Life Insurance - Buy Term and Invest the Difference!

The phrase "BUY TERM AND INVEST THE DIFFERENCE" evolves around... Read More

Life Insurance No Medical Exam - Is It Really Possible?

Quite often you feel that an ad for life insurance... Read More

Finding Fast Life Insurance

Since the widespread growth of internet usage and database building... Read More

Term Life Insurance - A Safeguard for Small Business Owners

Term life insurance can offer protection for a small business... Read More

What Is Permanent Life Insurance?

Unlike term life insurance, permanent insurance policies such as universal... Read More

Facts About Renters Insurance

If you rent an apartment or house, you might consider... Read More

How Is Your Auto Insurance Policy Price Determined?

The average auto insurance policy price is derived from a... Read More

Why Bother With Farmers Auto Insurance?

Farmers auto insurance is a very large insurance company that... Read More

Long Term Care Insurance - Low Cost Alternatives For Budget Conscious Seniors!

With Nursing home Cost's running $4,000 to $6,000 a month... Read More

Choosing Long-Term Care Insurance

A little over sixty percent of the folks who reach... Read More