Comparing Insurance Quotes
The only thing about getting a quote is that you must make sure that you are comparing what is in your current auto policy to what your online quote is. Sometimes you might see a less expensive policy, but if you have less coverage you aren't really saving money.
After a review of your policies, you may decide to make some coverage changes in order to bring costs down. Many times you can increase deductibles to lower your insurance premiums. Of course that would mean that if you did have a claim, you would have more out of pocket expenses.
Many times you will receive discounts for safety devices, safety courses taken, or multiple vehicle discounts. If you have your home owners insurance and vehicle insurance with one company, you will also receive an extra discount. Take a close look at your policy and make sure that you are receiving all the discounts that are available to you.
If you have an older vehicle you may consider reducing your coverage on that vehicle. Check with Kelly Blue Book to see what the value of your vehicle is. If your vehicle is worth only a couple of thousand dollars, you could reduce your coverage and only carry comprehensive insurance on the vehicle.
Believe it or not, but your credit affects both your auto insurance and your home owners insurance. Insurance companies believe that the lower your credit rating is the higher risk you are. Not only do insurance companies use this information to approve or deny you coverage, but they also use it to decide how much to charge you for your insurance.
Of course your driving record is also going to affect your rate. In fact it will keep you from getting the best rates. So if you don't guard your credit or keep a safe driving record, it won't make a bit of difference how many companies you compare you simply won't get the best rates that they offer.
Source:
Personal experience
http://www.bankrate.com/brm/news/insurance/credit-scores1.asp
Published by Pat Bartels
Previously employed in the Human Resources field, Pat enjoys traveling and tweaking computers when she is not writing articles for Associated Content and Factoidz. She is fascinated with personal finance, th... View profile
- Finding Out that You Are PregnantA mixed bag of emotions!
- Ten Signs that You Are Eating at a Dirty RestaurantHere are some humorous indicators that the restaurant that you are eating at is unclean.
- 10 Warning Signs that You Shouldn't Get MarriedAn article regarding the ten warning signs that you and your partner shouldn't get married.
- How Much Should You Rely on Your Family If You Have a Disability?How Much Should You Rely on Your Family if You Have a Disability?
- Informing a Family Member that You Don't Wish to Be the Executor of Their WillWhen drawing up a will, two executors will usually be chosen who will make sure that the wishes of their relative are carried out when the time comes. But what if you have been chosen as an executor to a will and you...
- What Things Should You Bring to Bangkok, Thailand If You Have Children or a Baby?
- What to Do If You Are Depressed Over the Holidays
- Finding the Best Auto Insurance Rates
- How to Make Sure that You Never Have a Bad Hair Day Again!
- How to Make Friends When You Are a Single Parent
- How to Tell Your Children that You Are Getting Divorced
- How to Let a Guy Know that You Are Only Friends
10 Comments
Post a CommentVery informative. Well-written.
Good insurance info.
Excellent work, as always. :-)
Great article Pat.
In this computer age credit seems to affect everything.
Really interesting, cheers.
Great info, thanks Pat!
Insurance is a part of life but I sure hate shopping for it. Good info :)
Something you have to do.
Watching an episode of Hannah Montana that I actually haven't seen (and busy today).