Posts Tagged ‘auto insurance agent’

When to Contact your Auto Insurance Company

Wednesday, February 10th, 2010

When was the last time you contacted your auto insurance agent?

If you’re like most motorists, the last time you thought about your auto insurance was the day you purchased it. However, in order to save your budget and ensure that your auto insurance meets your needs and wants, it is important to give your auto insurance some thought from time to time.

Here are some great times to contact your auto insurance agent:

  • When you buy a house - Most insurers offer both auto and homeowners insurance, which could save you big when it comes to purchasing a home. In fact, most auto insurance companies can offer discounts of up to 10 percent when you purchase both your auto insurance and homeowners insurance through the same company. Plus, it can lessen the hassle of purchasing homeowners insurance if you already have auto insurance through a particular company, as your bills and statements can be combined.

  • When you change jobs - If you change jobs and you find yourself traveling more or less, it is important to point this change out to your auto insurance agent. In particular, you may be able to save on your auto insurance rates when you can prove that you are spending less time behind the wheel. For individuals switching from working outside the home to working in the home, this can mean substantial savings on auto insurance.

  • Before you purchase a new car - One of the first phone calls you should make before purchasing a new car should be to your auto insurance agent. After all, if you are budgeting for a new car, you certainly don’t want to wait to find out about your monthly auto insurance premiums until after you purchase a car.

  • Every year - Always stay on top of your auto insurance rates, and don’t assume that just because you’ve been a customer for several years that you are getting the best rate. Check out other insurers’ rates and contact your auto insurance agent if you’re not so sure that you are still getting the best rate.

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How to Maintain Your Auto Insurance Benefits While Reducing Your Monthly Costs

Monday, November 9th, 2009

If you’ve recently been overwhelmed with uncontrollable financial burdens and frustrations, you may be considering various options to cut back on your monthly expenses.  Oftentimes, individuals facing financial constraints reevaluate their insurance coverage features in order to determine whether or not the cost of their policies is worth their intended benefits.  While some individuals often opt to put some policies on hold, nearly all states legally require all drivers to maintain auto insurance coverage; therefore, if you are planning on driving, then you are forced to continue to pay for coverage despite your financial setbacks.

Without a doubt, opting to minimize insurance coverage in an effort to cut back on spending can pose serious financial risks in light of a disaster of an unexpected accident.  As such, to navigate the decisions associated with saving your policy benefits while reducing costs, evaluate the tips suggested by industry experts.

Cutting Costs without Losing Coverage

Depending on your auto insurance provider, policy, and premium rates, you may need to individually speak with your auto insurance agent to determine potential changes to your current contract; however, to begin examining potential savings before or after meeting with an agent, start by comparing the risks versus the benefits from the key features of your policy.  For example, start by reviewing the basics of your policy with guidelines and questions such as:

  • How much is your accident deductible? Be aware that the higher your deductible, the lower your premium costs.
  • Evaluate your driving / accident history. If you have a safe driving record, perhaps your insurance provider can offer you additional discounts and incentives (contact your provider to find out details)
  • In examining your driving history, consider if any of your daily driving habits have changed. For example, if you no longer commute to work in order to save money on fuel, then you may be able to adjust your coverage features accordingly. As many auto insurance providers determine your premiums based on your daily driving habits, a reduction in daily miles traveled can lower your overall insurance costs.
  • If you have never been in an accident, or if you live in a low-traffic / minimal accident area (meaning an area with limited to no weather problems that can interfere with traffic, etcetera), then consider increasing your deductible. By paying a higher deductible, you are agreeing to pay more for insurance-covered repairs in the unfortunate case of an accident; however, if you are in an area with minimal risks, and if you have a safe record, then it may be cost effective for you to take the chance on paying more only if your vehicle is damaged.

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