4 Smart Ways to Save on Car Insurance
Buying low cost car insurance has become easier with help of online plans. Now all that you need to know is the best way to buy auto insurance online.
Car insurance is mandatory in India, which means, without it driving your vehicle is illegal on Indian roads. Along with buying a car, you need to buy a suitable auto policy. A lot of new vehicle buyers avoid it due to higher car insurance premium rates. For all such buyers, online car insurance policy is the best option available. A lot of leading companies provide affordable online auto insurance plans. Online availability of these plans makes it easy for you to compare and buy the policies online. Another key feature is, you can also pay premiums, policy renewals and claim settlements online.
A lot of car owners want to know the smartest ways to save money while buying auto insurance. The good news is, you can easily do it and create financial protection for your car in case of damages caused due to accidents, third party liabilities or other external calamities.
You can get low cost car insurance by using the following tips:
1. Find out insurance requirements
Be it a new policy or renewal of your existing one; understand what your actual insurance requirements are. Determine the essential factors like budget, deductibles and other coverage options that are suitable for your vehicle. Common coverage factors include liability, collision, medical and rental reimbursement. Check for the availability of property coverage and comprehensive coverage against natural calamities and damages caused due to theft or fire.
2. Eliminate extra deductibles
There are a lot of extra deductibles and coverage options policyholders tend to buy that cost them high car insurance premiums. These deductibles are easily avoidable, for instance, collision coverage amount. This is a common deductible that covers damages caused to your vehicle by your own mistake. This, in fact is a useless coverage, if you practice safe driving. Such seemingly affordable deductibles burn greater holes in your pocket.
3. Compare available options
The most basic step in finding affordable policies for your vehicle is through comparison of the available insurance quotes. Compare all the available quotes with one another with help of your policy requirements including budget, coverage type, policy type and deductibles. Check whether the policy you want to buy, is offering affordable premiums, flexible tenure and suitable terms and conditions.
4. Shop the competition
There is no dearth of insurers offering affordable policies online. As a customer, you need to make wise decisions and choose a suitable plan for the kind of vehicle you have. This doesn’t mean falling prey to false advertisements. You need to check for the plans according to the insurance requirements that you have. Always keep in mind that low premium policies provide low coverage and you need to make payments in case of accidents. High premiums on the other hand take care of most of the financial damage.
Berkshire Insurance is leading online insurance provider which offers affordable and comprehensive plans on car insurance India. They specialize in online car insurance, two wheeler insurance, overseas travel insurance and other health insurance products. Call us at Toll-Free Number 1800-1800-880 or mail your queries atinfo@berkshireinsurance.com.
by Ovee
Michigan law requires that all drivers carry no-fault car insurance, if they want to drive legally. If you don't carry this type of insurance, you could suffer the consequences of a suspended license, fines, impoundment of your vehicle and even jail time. It's important to understand the basics of Michigan no-fault car insurance before you start shopping for your policy.
There are three basic parts of the policy you will need to purchase called Personal Injury Protection (PIP), Property Protection Insurance (PPI) and Residual Liability Insurance Bodily Injury and Property Damage (BI/PD). You need to at least carry the state legal minimum of all three of these (20/40/10), if you want to drive your car, truck, van or other vehicle as a resident of the state of Michigan.
Are the Legal Minimums Enough?
You may be wondering if you should carry more coverage than just the $20,000/$40,000/$10,000 the state requires you to carry, and this is a good question. In many circumstances, if you get in an accident and someone is seriously injured or even killed, the courts will award more than these limits. Anything more than the amounts of your coverage are your responsibility and not the insurance company's.
What About Full Coverage?
Another question you may have is about whether you should cover your vehicle with what most refer to as "full coverage" auto insurance or not. You are only legally required to carry Michigan no-fault car insurance, but if you want to protect yourself and your vehicle a bit more, you can carry what is known as collision and comprehensive coverage.
Collision coverage will pay for the repairs to your vehicle if you are involved in an accident. You will also get the benefit of comprehensive coverage, which covers your vehicle in the event of theft, fire, vandalism, flood or even a collision with an animal. Believe it or not, some larger animals, like Deer, can really cause some heavy damage to a vehicle. It might be smart to carry full auto insurance coverage, just to be sure you are protected.
Are you Eligible for No-Fault Auto Insurance in Michigan?
In order to be eligible for insurance in the state of Michigan, you must own a vehicle that is registered in the state and carry a valid Michigan driver's license. Even if you don't own the vehicle outright, you can get insurance. It just has to be registered in the state of Michigan for the state insurance laws to apply.
However, even with a valid driver's license and a Michigan state registered vehicle, you can be denied car insurance. The most common reason a company will deny insuring your vehicle is if you are not required to carry no-fault insurance or your driver's license has been revoked or suspended. However, there are a few other reasons listed below:
- If you have been convicted of defrauding or attempting to defraud an insurance company in the past 5 years, or if evidence of fraud was shown in a case where you were denied payment of a claim over $1,000
- You have more than the allowable amount of "eligibility points" on your driving record
- If you must be a member of a club, organization or group to purchase the insurance you are trying to buy.
- You don't meet the company's rules for underwriting
What are "Eligibility Points"?
You may be wondering what these points are and since they are not the same as the points assigned to your license through your official driving record, it's important to understand what they are. These points are assigned by the insurance company for specific traffic violations and not all Michigan no-fault insurance companies use the same scale.
The majority of companies will assign four points if you are caught driver 15 miles per hour or more over the speed limit, three if it's between 11 - 15 mph and two points if you drive 15 mph or more over the limit on a freeway that used to be a 70 mph speed limit zone. They may also assign two points for other moving violations, three points for your first accident, which you are more than 50% at fault, and four points for any accidents after your first.
By understanding how no-fault insurance companies work in Michigan( Michigan car insurance ) you will be better prepared to gain the policy that fits best for your needs. Consulting an agent can also help, as they will be able to answer any questions you may have and help shop your policy around to many different companies for you.
by Muhammad Irfanuddin
In 2012, premiums are likely to continue rising, but it's not all doom and gloom situation. Here's the time to consider some factors to lower car insurance premiums. So that insurer may be able to take huge advantages from his/her insurance bill with a minimal amount of effort.
Ask for Higher Deductibles:
Higher deductibles could reduce your collision cost along with comprehensive coverage up to 30 percent. So, fix the amount to spend and then adjust deductibles.
Decrease Coverage on Older Vehicles:
Dropping collision or/and comprehensive coverage on older cars with a minimal market value is not required.
Say NO to Duplicating Medical Coverage:
People who have good health with life and disability insurance, prefer to purchase the minimum personal injury protection only.
Car Model:
Cost of expensive vehicle's repair is high and hence, it's more expensive to secure a car known for not having the greatest safety record. Such vehicle is likely to be the eye-candy for thieves.
Drive less and Carefully:
There are so many insurance providers who provide 'Low Mileage Discounts' to buyers who drive less than average number of miles per year. Make sure you are eligible to enjoy this benefit or not.
Prefer Safety gears:
Those who have automatic seat belts, air bags, daytime running lights and anti-lock brakes, then you can ask for a discount.
Request for Discounts for Teens:
Opt for discount for teens on the parent's policy instead of a separate policy. Teens who have good grades and pass an educational course of approved drivers can eligible for discounted rates.
All Vehicles in Single Policy:
Person can save money if you insure all your vehicles in a single policy. Car premium may also decrease by purchasing insurance from the same company.
Know About Any Other Discounts IF Available:
If you are a retired person or older than 50/55, then you might be able to pay less. In case, you've had no moving violations or accidents in 3 years or if you are a longtime customer, then ask for other discounts which benefits you more.
Avoid roadside assistance and car rental coverage:
If you ask for roadside assistance, then eligibility coverage may affect. Therefore, it is good to line up roadside assistance elsewhere. Otherwise, it could increase premium.
Senior citizens who attend driving lessons and are 55 years of age or more than that are also eligible for discounted rates.
Discuss these things with respective insurance agents as it can affect vehicle security and protection. To clear all your doubts, search online or directly contact the insurance company before buying any used or new car. So that you can end up with the best deal. Young adults or teenager who has gained excellent grades while taking driving lessons get more discounted rates as compared to others.
Adjusting policy as per your requirements is one of the best ways to decrease car insurance premiums. Always be truthful while declarations on the proposal form to ensure that your genuine claims will be paid.
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