Tips and Tricks for Saving on Auto Insurance

Finding the best auto insurance rates can sometimes be tricky. It is absolutely necessary to be insured on the roads, though. In fact, it is required, by Illinois state law to have coverage. Some find auto insurance to be extremely expensive but, there are ways to help make it more affordable. Here are some things to consider to find the ideal price of insurance.

Shop Around

Get quotes from multiple insurance companies, including different types of companies. Also, realize that the lowest number does not mean the cheapest.

Consider Insurance While Shopping for Cars

Some vehicles have lower reliability ratings and other factors that contribute to higher premiums. While researching cars it is important to compare potential premiums for each of your options to ensure you are getting the best deal.

Increase Deductible

By increasing your deductible, you can decrease your premium. Just be sure that the deductible is manageable for your budget and that you have enough money saved in case you need to file a claim.

Bundle Insurance

If the insurance agency that you choose offers bundling, take advantage of it. If not, try to stay with the same company for all of your insurance needs. This results in discounts in most cases.

Keep Good Credit

Having good credit helps lower insurance rates. Researchers have found a significant relationship between your credit score and amount of claims filed. Insurance companies tend to rely on this correlation to define your financial responsibility.

Low Mileage Discounts

Research mileage averages and see if you fall below that. Do not be afraid to ask about a low mileage discount. This discount could also apply to you if you are someone who carpools.

Group Insurance

Some people fall into the category of people who receive insurance from their employer or other groups they belong to. Some insurance providers offer discounts on auto insurance to people who fall into this category.

Other Discounts

Ask your agent if there are any additional discounts you are qualified for based on certain qualities such as how you drive, etc.

Purchase 10+ days before you actually need it

By purchasing coverage before you need to use it helps drive down premium costs.

Pay in Full Up Front

If possible pay in full, rather than setting up a payment plan. The amount you save annually will add up.

Get New Policy When You Move

Especially out of state! Some states have significantly higher insurance rates than others.

Older Cars

Buying a brand new car, just released is exciting, but if your priority is lower insurance premiums it is better to purchase models that are 5+ years old. They are considered more reliable.

VIN Number for Quotes

The purpose of this is to see if you are eligible for a discount if you have anti-theft devices.

Go Paperless

Some companies value using less paper and offer a small discount to those who opt out of using paper which is not hard to do in this age if technology. It is a small offering, but it adds up.

Insurance Vocabulary

Be sure to understand what the verbiage means so that you have a good idea of what you actually need covered and what questions you need to ask your agent.

Automatic Billing

This is another way to save over time, similar to going paperless.

Education

Some insurers offer discounts based off of the level of education you have. For example, some offer discounts for college graduates.

Teen Drivers

Teen drivers are known to drive up insurance costs, since they are more accident prone. But, if they are in a college that is 100+ miles away without a car some insurers allow them to be temporarily taken off of the plan. Additionally, most companies offer a “good student” discount implying that they correlate this test of intelligence with responsible driving habits. Proof of a safe driving class can also save some money on teen auto insurance.

Change Insurance When Lifestyle Changes

If you expect to drive less due to retirement or other factors, report this to your insurer. This can reduce the amount that you have to pay for insurance.

Most importantly, be aware of your needs and form a relationship with your insurance agent. Awareness is the first step towards savings.

Tips for Getting Car Insurance in Dubai and the UAE

With around 11 car insurers in the UAE, motor insurance is easy to get and most of the major insurance companies are well represented in the Gulf region. AXA Gulf is probably the best known for car insurance in Dubai; they have been in the region for many years and offer a comprehensive range of insurance policies, not just for motor vehicles. However, they’re not your only option. RAK Insurance, RSA UAE, AIG UAE, Zurich Insurance UAE and Oman Insurance Company are just a few of the available options.

There are 2 types of insurance cover available – Comprehensive cover and Third Party Liability cover. Comprehensive cover offers complete protection in the case of accidents, whether it was your fault or not, along with a raft of other options which may include, depending upon the insurer:

Personal Accident, Injury and Passenger cover: this cover provides you with the option to make sure both yourself and your passengers are covered in the event of injury during an accident involving the insured vehicle. Usually this is an additional cost on top of the basic cover. Examples include Emergency Medical Expenses, which includes cover for up to an agreed sum if medical treatment is needed as the result of an accident and Personal Effects coverage for loss or damage up to an agreed sum if the damage or loss to the vehicle is the result of fire, lightning or external explosion.

Agency Repair: this policy covers repairs on the vehicle but is often only available on new cars, in which case it is possible to get cover of between 2 to 5 years, or cars that are up to 2 and 3 years old. In most instances the cover is usually only available until the car reaches 5 years of age regardless.

Off road and GCC (Gulf Cooperation Council) cover: if you intend to do some desert or off-road driving it’s a good idea to make sure you have a car insurance policy that covers this as well.

Excess fee: if you cause an accident the excess fee is what you pay over and above your cover when the vehicle is repaired.

Additional benefits: some other types of cover that may be included either as standard or as optional extras include a replacement car if your car is being repaired, Road Side Assistance including towing to an authorised repairer / service centre if it breaks down and jump starting in the event of a flat battery and so on.

The other type of car insurance is Third Party Liability cover, which only provides cover for the other vehicle if you cause an accident. Any damage caused to your own vehicle is your responsibility to fix. This policy is most commonly taken out with older cars that do not qualify for comprehensive cover.

Applying for car insurance in Dubai and the UAE

When applying for car insurance you will need information like the car’s make, model, engine and chassis number. Most insurance companies now offer an online service so you can research the best policies to suit your requirements and budget. It may end up being a lot more convenient however to use an online service that does all the research for you and then presents you with a few of the best options based on your circumstances as provided to them. 8keyz has a no-hassle 3 step online process available on their website to make the whole insurance process fast, easy and efficient.

Tips For Comparing Motorcycle Insurance Plans

Motorcycle Insurance vs. Auto Insurance

You will probably find that insuring a motorcycle is quite similar to insuring any other vehicle. Since I assume that many of my readers are familiar with insuring cars, I think it is useful to compare auto and motorcycle policies.

  • If you live in the US, your state sure requires a minimum liability policy. This is to protect the finances of other vehicles on the road. In return, other vehicle operators must carry insurance to protect you. This will be true if you drive a sedan, sports car, RV, or motorcycle!
  • You may also carry more coverage to protect yourself against a loss to your own vehicle. If you still owe money on your bike, your lender will probably require you to have full coverage.
  • Your premiums can be affected by many of the same things that affect auto insurance premiums. Your age, driving record, and the type of motorcycle you ride will probably matter. The way you use your motorcycle may also matter. If you only drive it for a few hours on the week-end, you may be a low mileage rider. If you commute to work every day, on busy city freeways, you may have to pay more.

By now, you should understand that we buy policies to manage our risks. Insurers are experts at figuring out risks. So one of the biggest things that will be different about insuring a bike will be the fact that vehicle insurance companies believe that motorcycles are riskier to operate than cars.

However, insurers are smart enough to realize that a safe bike that is in the hands of a very good rider would probably be a better risk than a rattle-trap of a car in the hands of a bad driver! So there are always things you can do to shop for good coverage, and also to promote yourself as a better risk.

Simple Tips For Comparing Motorcycle Policies And Companies

As with any other type of insurance, most things are regulated at the state level. Beyond that, policies and prices vary by local area. So it is useful to compare plans in your local area. You can find some great websites that will show you the top local companies in your area. You just have to provide a zip code.

After you see the list, you are free to click through to the individual companies to find out more about their prices and coverage options. If you have questions, you will get contact information for your choices. You can call, email, or visit the companies or agents to get more detailed information. If you already pretty savvy about motorcycle policies, you can find companies that will let you buy online or over the phone. This gives you a good blend of using efficient Internet systems and requesting personal service.

You will need to figure out how much you can afford to pay for your coverage, and then balance that against how much you could afford to lose. This will help you figure out your coverage amounts and deductibles.

There is not one perfect motorcycle insurer for every rider. When you shop and compare, you can find the company that will be the best one for you!