Posts Tagged ‘auto insurance carriers’

Simple Ways to Keep your Auto Insurance Rates Affordable

Monday, March 15th, 2010

Auto insurance shouldn’t break the bank. In fact, given the competition in the auto insurance market, it is quite possible to find a great policy that is both reasonably priced and comprehensive.

Always remember that there are several auto insurance carriers available, regardless of where in country you reside. However, beyond find the best rate, there are a number of things you can do on your end to lower your auto insurance premiums and save big:

  • Buy a smaller car - Simply put, smaller cars cost less - sometimes much less - to insure than larger cars. Keep in mind, too, that smaller cars just don’t save you money on auto insurance premiums; they also save you on gas and on maintenance costs. Consider, for example, the cost of tires for a small car versus the cost of tires for one of the larger, sport utility vehicles. If you are in the market for a new car, contact your auto insurance carrier and ask them for insurance quotes for both smaller cars and larger cars; you may very well find yourself shopping for a smaller, more economical vehicle.

  • Play it safe - This may seem like a no-brainer, but the fact of the matter is that not many people think about their auto insurance coverage when they get behind the wheel. Aside from the obvious increase in auto insurance premiums should you become involved in an auto accident, also consider speeding tickets, as fines and points can certainly mean an increase in your auto insurance premiums.

  • Consider a professional - If you have a teenage driver, consider enrolling them in a safe driver course. Many auto insurance companies offer great discounts for teenage drivers who pass these tests.

  • Raise your deductible - Consider a slight increase in your deductible, as this can often significantly lower your monthly premium amounts. However, you will also need to make sure that you have the cash in case you become involved in an accident and need to pay out the deductible. It’s always a smart idea to keep your auto insurance deductible amount tucked away in a money market or savings account in case you need it.

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Why so many Auto Insurance Carriers are Making Paying Auto Insurance Easier

Wednesday, January 20th, 2010

The flailing economy has brought upon many changes, both for consumers and companies. For example, many auto insurance carriers are making it easier than ever to pay auto insurance premiums. This is due, in part, to the large numbers of uninsured drivers in the United States. For example, the number of uninsured drivers has increased from 10 percent in 2008 to 20 percent in 2009, largely due to the economy and the loss of many jobs.

Auto insurance companies are now making it easier for their policyholders to pay their insurance bills instead of letting the policy lapse. Many policyholders see these changes as welcomed ones, as many individuals are not only finding it difficult to pay their auto insurance premiums, but to pay them on time.

There are a number of ways in which insurance carriers are making it easier for individuals to pay their auto insurance premiums:

  • Automatic deductions - Automatic deductions are usually the easiest way for individuals to pay for their auto insurance, as the monthly premium is simply deducted from their bank account at the same time each month. This eliminates skipped or missed payments, and eliminates the need to remember to pay yet another bill.

  • Website payments - Many insurance companies now have easy-to-navigate websites that allows policyholders to pay their premiums. Many times, these websites allow customers to pay at their convenience throughout the month, either using a credit card, debit card or a withdrawal from their bank account. Website payments are also handy, as they eliminate the need to write checks, pay for postage and wait for a payment to be processed.

  • Pay-by-phone - Another convenient way to pay auto insurance premiums is over the phone, using either a bank account and routing number or a credit/debit card. Either way, it is a great way to cover your auto insurance premiums, even when you forget about it until the last minute. Most pay-by-phone systems allow your payment to post almost immediately, thereby eliminating late fees.

There are many ways in which you can handle your auto insurance premiums, so check with your auto insurance carrier about their payment methods, and about any fees and service charges that may accompany them.

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