Archive for March, 2011

Used Car Buying Tips

Are you paying too much for car insurance?

Are you paying too much for car insurance? This is because many people spend too much money on car insurance paying for the things they do not call for. This happens so often that you overpay without your knowledge. Therefore you are being advised to shop around and compare various car insurance quotes. This should be done at least twice a year as it will be of benefit to you. In case you wish to increase the pace of your process, then you should access the internet so that you can find the best ways on how you can save your money on car insurance.

Some of the mistakes causing people to over pay for their car insurance include:

  • Some people do pay for the coverage they do not need; when you shop around and do a bit of comparison on the auto insurance quotes, you should be aware that although the quotes are approximately the same as the existing policy but still they can be very low. If one is not keen on the car insurance policy, you could end up paying for coverage and other additional alternatives that may not be necessary. Higher limits do not provide the best defense against any possible losses.

Therefore, a qualified financial agent should be consulted before coming to final decision.

  • Car insurance overpay may be caused by drivers who carry the lowest deductibles in order to reimburse the costs that are related to the claim. The higher the deductible, the lower your premiums. This will make you lose as the cost of accident will even be more costly.

Therefore, for you to save on your policy and not the accident, you should increase your deductibles.

  • Paying car insurance in monthly installments may end you overpaying your insurance. Installments are granted in large amounts and also paid back after a specified time in slow payments. However, when the premiums are split into installments, additional administrative fees are added up.

Therefore, in order not to over pay, you should avoid splitting your premiums.

  • Imperfect record contributes to overpaying car insurance. You should avoid having traffic tickets and moving violation on your record as you will be considered a higher risk by all insurance companies. This is because not all insurance companies look at violations and accidents from the same perspective. This does not limit you from having moving violation on your driving record, though you selection of insures will be restricted also.

Therefore, it is advisable to analyze your auto insurance policy and do not focus on tax refund as this will be the best way to save on your money. You should also take time to compare auto insurance rates so that you can succeed in getting cheap car insurance rates. Are you paying too much for car insurance? Then, you should take time to compare car insurance by considering which policy is significantly cheaper, and also try to see which policy covers the damage caused to other people and property by policyholder’s car.