Low Cost Auto Insurance – Vehicle Insurance Rating

Low Insurance — Fri, 18 Sep 2009 15:21:00 +0000

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More people today are finding out the benefits of shopping online for low cost auto insurance. By shopping online you can easily compare rates from several companies quickly and easily from on the Web. Although comparison shopping will save you several hundreds on your auto policy, you should not forget about the vehicle insurance rating factors that come into play. Below are a few more things you should consider if you’re in the market to purchase a new vehicle.

Insurance companies will begin by rating your vehicle by size, weight, performance, theft ratings, crash ratings, safety features. If the cost of insurance is a concern you should get quotes on a few cars you’re interested in prior to making the purchase. You’ll find a big decrease in premium when you compare an older 4 cylinder Sentra to a newer truck or SUV.

Why are SUV’s and trucks more expensive to insure?

You’ll find higher premiums on larger vehicles for a number of reasons. We Americans love our larger vehicles. They never come large enough. There’s a whole industry built to help you make your already large truck or SUV even larger. If the truck is a four wheel drive vehicle, the insurance company runs the risk of an off-road accident. If you’re involved in an accident in a larger vehicle you are at higher risk of causing serious injury or death to the other driver.

The benefit of smaller cars

You will find the rates on a smaller four-door vehicle much more affordable than you will on any truck, SUV or high performance car. Although this is true for most smaller vehicles there will always be a few smaller cars that still hold higher rates due to theft statistics. In 2007 the Honda Civic made the number 1 spot for highest theft occurrence. The Ford Taurus was noted to have the lowest theft rating. With a smaller vehicle you in most cases will cause very little damage to the other vehicle in an auto accident. I remember rear-ending a Ford Explorer one day with my Sentra. The damage was minimal on the Explorer. However, I needed a new hood.

High performance sports cars

Of course you will see some of the highest rates on high performance sports cars. Sports cars have such high rating on these vehicles, young drivers can’t even come close to owning a sports car unless they are prepared to pay the high cost premiums that come with them. Some just wait until they’re 60 or 70 before buying their dream sports car. You’ve seen them on the roads.

When planning a purchase of a new vehicle, you need to keep in mind the tips above to estimate how much the insurance will cost you. When in doubt, you can always call your insurance agent.

You can find more tips on how to save more on auto insurance here.

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Low Cost Auto Insurance – Vehicle Insurance Rating

5 Tips to Save Money on Auto Insurance

Low Insurance — Wed, 01 Jul 2009 19:40:55 +0000

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Saving money on auto insurance is easy but you must approach it the right way. Everyone needs auto insurance and it’s an expense we must face for a lifetime. I don’t know about you, but if there is an expense worth learning more about, that expense would have to be insurance. Below I’ve provided five useful tips to help you save money on auto insurance.

Tip 1: Don’t wait until the last minute

Many people choose to start shopping for auto insurance a day before their existing policy’s renewal date. During a comparison quote process we have found that on, many cases, if you shop over a week before your renewal date you will get rated lower compared to if you shop on or just before your renewal date.

Tip 2: Always comparison shop

With the high cost of living, we are in a way forced into shopping around for the best deals on most things we buy. This is how most of us maintain financial stability. You must go about shopping for your insurance the same way. Whether you decide to get a comparison quote online or call a local independent Agent, you’re on the right track. As an Independent Agent in Arizona, I’ve found that in most cases I see about a $500 difference between the lowest premium and the highest premium after doing a comparison quote for a client.

Tip 3: Low cost insurance and financial security

It’s no longer impossible to get low cost insurance WITH the financial security. Many are quick to insure themselves with the state minimum liability requirement. Instead of insuring yourself with a policy that may not be good enough, place focus on discounts instead. There are several discounts auto insurance shoppers can take advantage of including the paperless discount, multi-car and multi-policy discount, and the paid-in-full discount.

Tip 4: Choosing your deductible

The deductible is the amount you must pay first before any claims are paid out to you by the insurance company. The higher the deductible, the lower your premium will be. You don’t want to choose too high of a deductible. Some Agents believe your deductible should be close to your weekly income. You want to have the funds available in the event you need to make a claim. If you do decide on a high deductible you may want to consider putting away some of the money you saved on a monthly basis. This way if something happens down the road you have some of the deductible available to you.

Tip 5: It’s never a bad time to shop

Insurance companies will often go through rating changes. A company that may have rated you high in the past, now may have some of the lowest rates for your specific insurance need. Some people have been with their current insurance company for years without ever giving thought to the other options available to them. Eight out of ten times, these shoppers will see the highest savings after reviewing a comparison quote online.

I believe these are five tips every auto insurance shopper must consider when searching for auto insurance coverage. Auto insurance shoppers can learn more about discounts and compare insurance quotes online.

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5 Tips to Save Money on Auto Insurance

Personal Dividends - Money+Lifestyle » auto insurance