Insurance Tips |
|||||||||||||||||||||
|
1. Compare insurance companies. Our top insurance tip is to compare the various policies that are offered by different insurance companies. The more knowledge you have the better the chance that you will find car insurance or home insurance that fits your requirements. Besides the fact that there are direct short-term insurance companies like Dial Direct and insurance brokerage firms to compare, there are insurance companies that specialize in categories that you might fit into. Some insurers may cater to first time home owners, while other firms may concentrate their focus on female drivers. For that reason they offer the lowest premiums or the most comprehensive coverage in one area but not in another. It is up to you to know what you want and where the best deal is for your needs. Do not hastily choose one insurance company without knowing about the others, and don't let third parties bully you into making a selection either. 2. Security is vital. Whether you insure your house or insure your car the insurance company that assesses those possessions is going to focus their attention on overall security. It makes logical sense that the safer your home and the safer your car, the lower the insurer's risk and so the lower your monthly payments as well. A newer car comes equipped with various features that make it far safer and less likely to be stolen than an older car. If you add approved security features such as a vehicle tracking device it is highly likely that your premiums will decrease as a result. Similarly, adding security features to your home such as an alarm system will also decrease the amount you have to pay for the protection and peace of mind of insurance, which is ultimately what you are after. 3. Keep all your insurance under the same roof. If you insure one car with a direct insurance company then you should seriously consider insuring all vehicles with the same direct insurance company. Not only is it far more convenient for you to have a single point of contact in case you need to speak with someone, but chances are you will receive a better overall deal from the insurer. The majority of insurance providers now offer car and home insurance, and once again by insuring with one company you should be able to save yourself a lot of money in the long run. 4. Drive a car with a low profile. Those flashy, fast vehicles are a lot more expensive to insure, because they are very expensive to maintain, riskier to drive, and catch the eyes of thieves as well. Instead, you should consider a reliable car because you will save a lot on car insurance that way. When your premium for car insurance is calculated the cost to replace parts, the overall capability of the car, and the cost to replace the vehicle will all be considered, and you could save thousands by making a sensible driving choice. 5. Be aware of the value of your home, and the value of your car. When you are on the verge of purchasing a home insurance policy or a car insurance policy for that matter you need to be acutely aware of the value of your assets. If you drive an old car that is not worth a lot of money you might not want to purchase comprehensive motor insurance. The premiums that you will pay on an annual basis will likely be more than the cost of replacing a very cheap vehicle, so it would make little sense for you financially or practically to be over-insured. Instead, you might consider buying Third Party coverage only, or Third Party and Theft. With home insurance you need to take into account the fact that the value of your property will change significantly over time, and you are responsible for ensuring that your home insurance coverage increases proportionately as well. 6. If it is an option you should select the highest voluntary excess that you can afford. A lot of insurance companies offer you the option of paying a voluntary excess in addition to your compulsory excess should you claim against your car or home insurance policies. By also paying the voluntary excess, assuming it is within your financial means, you significantly reduce the amount that you pay in premiums. 7. Age matters for drivers. You should always ask your insurer if there are any discounts or lower rates for anyone who possesses advanced driving qualifications. If you have a lot of past experience driving, and a good record, you should be able to negotiate a better rate. Along similar lines, if you are insuring an inexperienced, young driver try to match that driver with an older car of limited value. The risk for the insurance provider thereby decreases. Some insurance companies offer policies specifically for older drivers, featuring far lower premiums. 8. Only claim from your insurance when absolutely necessary. Like the old story of the boy who cried wolf, you need to be judicious when it comes to cliaming from your insurance company. Insurance is there for emergencies not minor inconveniences. If you consistently make claims you will lose your no-claim bonus, or your bonus cash, and your premiums will skyrocket as well because you will be perceived as a high-risk liability. Related Insurance Articles: * Insurance and Marriage * Have Your Jewellery Reassessed Often * Check Your Cover First Time Insurer * Lloyds TSB Insurance * South African Vehicle Insurance * Home Insurance-Insurance For Where You Live * Household Insurance-Insurance For What Is Inside * Short Term Insurance 
|
| ||||||||||||||||||||
| 2/22/2011 3:54:33 PM | |||||||||||||||||||||
 |