articles.moneycentral.msn.com— Getting a good deal on auto insurance is hard enough. Keeping your premiums from rising? That can feel like playing a game where the rule maker refuses to tell you the rules.
Apr 18, 2007View in Crawl 4
"Pay in full to avoid installment fees"While this is technically true, you're probably better off investing that money and paying the insurance company as little as possible each month. I get a service fee of $3 a month. To beat that, I need to earn more than $3 a month from wherever else I put my money in to come out ahead. For the amount of insurance I pay, $3/month would be about 1.1% of the total owed. To beat that I only need to find an investment vehicle that'll return a little over 2.1% over the year (keeping in mind the principal gets decreased by a payment every month). This isn't hard considering most (if not all) internet savings accounts returning over 4% for the year.
In some states, bills are being introduced to keep insurance companies from using credit reports to determine rates. (MI, for one.) Also, just by checking with an agent, you can find out which models have higher rates (like two-door versus a four-door, or even just having a sun roof.)
@aliarseI work for an insurance company. In my experience, yeah there are companies that lag big time on paying out. I once heard a chiropractor tell a patient to be patient since they're with a certain insurer. Another way to see a claim take longer is involving a lawyer or simply the other person and insurance company not cooperating. The more complicated the longer. For a nick it shouldn't happen, but its been known to. To anyone who cares: If you're looking at purchasing a sports car and you're on a budget. Call your insurance company first for a quote. You would not believe how many calls I get on that one. Yeah common sense.
@akira117Although US insurers don't publish their groups, UK ones do. Any car that is available in the UK as well as US can be checked here: -<a class="user" href="http://www.parkers.co.uk/insurance/">http://www.parkers.co.uk/insurance/</a>Insurance cost is banded by group number, from 1 (dirt cheap, Vauxhall Corsa etc) to 24 (Bugatti Veyron!). The rating can depend on lots of things - for instance, popular cars that are reaching the end of their lives are always cheaper because there are loads of old, cheap parts around if they break.
And go eco - buy a bicycle and have no troubles till the end of your days. I guess that your insurer will never recommend it but it is a working decision.
don't get ripped off by Geico. They suck. You will pay the same with an agent and you will have help when you need them not some call center with a bunch of n00bs.Yes I work in the insurance industry.
How can you say its common sense. Before reading this article I never knew that my unblemished license and 1976 Trabant mean I get lower insurance than the blind guy next door who drives a Ferrari...
can't say i was happier with AllState their rate was high and they did not care at all if I was moving, if I was unhappy about something. Nothing just total "whatever" attitude. I still have 2 months left on Geico so I'm going to look at alternatives just in case
Find the very best online U.S. car insurance rates - Save your money with this auto insurance quotes comparison service. It brings consumers, who are searching for reasonable car insurance rates, together with insurance companies in a one-stop shopping venue. Car insurance quotes are available for all States.<a class="user" href="http://www.car-insurance-inc.com">http://www.car-insurance-inc.com</a>
Obvious yes, but do you know how many people just don't get it? I work in insurance and it scares me how many people don't have common sense or even read the policy booklets that explain all this in layman's terms. What gets me is that some guy driving for 2 years and buys a 2009 Ford Mustang GT Cobra whines about paying more than his buddy for the same coverage but has longer driving experience and has a 1999 Ford Escort. Advise: Buy all the coverage options offered including towing and rental (AAA trucks aren't always allowed on intertates like I-90 in MA, that's contracted out at a fine tune of $150+). Get as high liability and property damage coverage you can afford, including the UM/UN especially if you travel out of state. Of all things don't skimp on insurance, there are more people driving without it and lots more lawyers dying to defend these wonderful creatures. They get 15-20% cut of settlement money just for filing the right paperwork.
pevensenApr 18, 2007
Most of these items are common sense. The one that was new to me is that in 28 states they must pay the sales tax on a replacement car.
armyoffunApr 18, 2007
"Pay in full to avoid installment fees"While this is technically true, you're probably better off investing that money and paying the insurance company as little as possible each month. I get a service fee of $3 a month. To beat that, I need to earn more than $3 a month from wherever else I put my money in to come out ahead. For the amount of insurance I pay, $3/month would be about 1.1% of the total owed. To beat that I only need to find an investment vehicle that'll return a little over 2.1% over the year (keeping in mind the principal gets decreased by a payment every month). This isn't hard considering most (if not all) internet savings accounts returning over 4% for the year.
smallestmillsApr 18, 2007
In some states, bills are being introduced to keep insurance companies from using credit reports to determine rates. (MI, for one.) Also, just by checking with an agent, you can find out which models have higher rates (like two-door versus a four-door, or even just having a sun roof.)
soysamuraiApr 18, 2007
@aliarseI work for an insurance company. In my experience, yeah there are companies that lag big time on paying out. I once heard a chiropractor tell a patient to be patient since they're with a certain insurer. Another way to see a claim take longer is involving a lawyer or simply the other person and insurance company not cooperating. The more complicated the longer. For a nick it shouldn't happen, but its been known to. To anyone who cares: If you're looking at purchasing a sports car and you're on a budget. Call your insurance company first for a quote. You would not believe how many calls I get on that one. Yeah common sense.
kitwaitesApr 19, 2007
@akira117Although US insurers don't publish their groups, UK ones do. Any car that is available in the UK as well as US can be checked here: -<a class="user" href="http://www.parkers.co.uk/insurance/">http://www.parkers.co.uk/insurance/</a>Insurance cost is banded by group number, from 1 (dirt cheap, Vauxhall Corsa etc) to 24 (Bugatti Veyron!). The rating can depend on lots of things - for instance, popular cars that are reaching the end of their lives are always cheaper because there are loads of old, cheap parts around if they break.
tiggiApr 19, 2007
And go eco - buy a bicycle and have no troubles till the end of your days. I guess that your insurer will never recommend it but it is a working decision.
emesisApr 19, 2007
Buried as inaccurate, as none of these are secret and you'd have to be dumb as hell not to know most of them already.
mpritc1019Apr 19, 2007
don't get ripped off by Geico. They suck. You will pay the same with an agent and you will have help when you need them not some call center with a bunch of n00bs.Yes I work in the insurance industry.
essjayApr 19, 2007
How can you say its common sense. Before reading this article I never knew that my unblemished license and 1976 Trabant mean I get lower insurance than the blind guy next door who drives a Ferrari...
jiludiApr 20, 2007
can't say i was happier with AllState their rate was high and they did not care at all if I was moving, if I was unhappy about something. Nothing just total "whatever" attitude. I still have 2 months left on Geico so I'm going to look at alternatives just in case
autoinsurance82Mar 25, 2008
4 steps you should know before buying an auto insurance - really help full tips and information available online at <a class="user" href="http://www.insurancesupermarket.net">http://www.insurancesupermarket.net</a>
lugnutzzMar 3, 2009
Always get multiple quotes and compare, try <a class="user" href="http://www.freeonlineinsurancequoter.com/auto-insurance">http://www.freeonlineinsurancequoter.com/auto-insu ...</a>
motorandvanmanApr 23, 2009
absolute rubbish facts about car insurance! check out <a class="user" href="http://motorandvanman.blogspot.com">http://motorandvanman.blogspot.com</a> for up to date car insurance news!
newfiesearchMay 28, 2009
Find the very best online U.S. car insurance rates - Save your money with this auto insurance quotes comparison service. It brings consumers, who are searching for reasonable car insurance rates, together with insurance companies in a one-stop shopping venue. Car insurance quotes are available for all States.<a class="user" href="http://www.car-insurance-inc.com">http://www.car-insurance-inc.com</a>
yeah07Jun 17, 2009
that thing about car models and insurance rates is so true<a class="user" href="http://www.hartfordautoinsurance.co.cc">http://www.hartfordautoinsurance.co.cc</a>
macgyrl64Dec 12, 2009
Obvious yes, but do you know how many people just don't get it? I work in insurance and it scares me how many people don't have common sense or even read the policy booklets that explain all this in layman's terms. What gets me is that some guy driving for 2 years and buys a 2009 Ford Mustang GT Cobra whines about paying more than his buddy for the same coverage but has longer driving experience and has a 1999 Ford Escort. Advise: Buy all the coverage options offered including towing and rental (AAA trucks aren't always allowed on intertates like I-90 in MA, that's contracted out at a fine tune of $150+). Get as high liability and property damage coverage you can afford, including the UM/UN especially if you travel out of state. Of all things don't skimp on insurance, there are more people driving without it and lots more lawyers dying to defend these wonderful creatures. They get 15-20% cut of settlement money just for filing the right paperwork.
Closed AccountFeb 26, 2010
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silversurfer08Mar 3, 2010
The same goes for no deposit car insurance. Most insurers wont tell you that its possible, but it is at a select few, I found and consequently dugg this site - <a class="user" href="http://www.nodepositcarinsurance.co.uk" rel="nofollow">http://www.nodepositcarinsurance.co.uk</a>
avisgardenerMay 24, 2010
This is a great news feed and for information on young car drivers insurance go to <a class="user" href="http://www.youngcardriversinsurance.com" rel="nofollow">http://www.youngcardriversinsurance.com</a>
bwal3822Sep 3, 2010
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