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Try These And Reduce Car Insurance Costs Without Penalty
Posted by Chimezirim Odimba in Auto Insurance
If you must attract huge discounts, then you must NOT miss certain things. Following are some of such things…
If you have collision and/or comprehensive for an old car which is not a classic, then you’re paying much more than you should. Your car’s Kelly Blue Book value at the time of a claim (and not the value of the car when you bought it) is what determines what you’ll get from your insurer. So even if you’ve paid your premiums faithfully for years but the Kelly Blue Book value says your car is worth nothing, you’ll get nothing from your insurer and they’ll be totally covered by the law.
So do yourself a favor and remove this coverage types from your policy for all old cars. You’ll be saving much that way.
You might be able to bring down your rate if you take time to review your policy from time to time. It’s interesting to note that a lot of people still pay for things they needed yesterday but no longer need for today. How about removing your just-wedded daughter from your policy?
There are discounts you might have qualified for. You might as well have “outgrown” the need for certain coverage types. It would, therefore, do you a world of good to review your policy yearly or twice yearly. Finding even one thing that you no longer need on your policy and dropping it will save you something reasonable.
Keep an excellent credit rating. Having a poor credit history is simply making it difficult for yourself apart from the fact that your rates will be much more. The truth is that they believe that the probability of you defaulting in your premiums is very high. Once you are seen as bad risk you’ll invite higher auto insurance premiums.
Do your best to represent the facts exactly the way they are. Insurance fraud costs us all.
Furthermore, an insurer has the right to cancel your policy if you give false details.
You’ll then lose in a very big way. Insurers increase your rates by a good margin once you’ve let your policy lapse or had it cancelled for reasons like this.
It’s been estimated that insurance fraud adds up to $1,500 to the average family’s insurance premium annually. Help make the world a better place by doing your bit to ensure we don’t have to pay a lot more.
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