Monday, October 19, 2009

Proper Appraisal and Alarm Installation For Car Insurance Savings

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If you are currently paying too much for auto insurance, consider lowering your coverage by decreasing the amount of coverage you have and assuming an increased risk factor.

If you have an car that is worth less than $2500, it is likely that you are paying your insurance company more than the value of the vehicle. Check with the Blue Book value or have a reputable expert appraise it for you. Then, calculate the amount you pay per year in auto insurance. If the auto insurance amount is greater than the appraisal, you may want to assume the higher risk to bring down the cost. This is especially effective if you are a safe driver.

Some auto insurance companies allow you to customize your policy, so that you only pay for the coverage you desire. If you are a good driver and have a perfect or near-perfect record, you could request a higher deductible, which would reduce your premium. For example, you could choose to bite the bullet and pay for minor damages to your vehicle, while at the same time letting the insurance company cover any major damages caused by accidents.

Keep in mind when customizing your policy and/or assuming a higher risk that auto insurance prices are partially determined by statistical data. For example, cars which are stolen often will have higher premiums; cars that are costly to repair or are in for repairs often will have higher premiums.

By customizing your insurance coverage, you will soon see yourself with extra cash in your pocket in a relatively short period of time.

In today's economy more and more people are trying to save money. Car insurance is a big expense in many houses. There are a few ways you can save money on your auto insurance. One way is to have all the drivers in your family in the same policy. Many companies offer some type of discount if you have more then one auto policy. Some companies even offer a discount if you have a home owner's insurance policy with them. These are the most obvious.

If you have a teenager, bad driver, or someone in your house who got arrested for drinking and driving, it may be cheaper NOT to have them on your policy. You will pay extra to cover them. Do your research and check it out. Some people register their cars in towns or states where they have a second home and the rates are lower. This does work and will save you money

If you pay your whole policy cost up front for the year you get a discount. If there are not giving one ask why? Many companies do offer this. The insurance world is a business so don't be scared to ask for a discount on things or why you are being charged for something.

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