How to Save Money on Car Insurance

8:20 PM    No comments

How to Save Money on Car Insurance

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There is a very good chance that you are — this very moment — paying too much for your car insurance. There is an even better chance that you could get a better rate, from another insurance company, than you could from your existing insurer.

So why not take an hour or so and review your policy for potential savings? Or, if you're fed up with the high insurance rates from your current insurer, shop around for a new company.

The Internet has created increasing competition between car insurance companies. It is easier than ever for consumers to shop for low insurance rates, to analyze coverage and compare premiums. Still, studies have shown that people don't shop around for insurance in the same way they might shop for a new car. Also, people tend to stay with the same car insurance company for years. Why not prove these studies wrong? Put the power of the Net to work for you and save money in the process.

You can save on auto insurance in five ways:


    Make sure you get all discounts you qualify for
    Keep your driver's record clean and up-to-date
    Adjust your coverage to assume more risk
    Drive a "low profile" car equipped with certain money-saving safety features
    Shop around for a good, low cost insurance provider

First, let's look at the discounts you might qualify for. Discounts fall into a number of categories:

    Low-risk occupations
    Professional organizations
    Combined coverage
    Discounts for safety features
    More risk assumed by driver
    Discounts for senior citizens

Low-Risk Occupations

Insurance is a numbers game. Adjustors collect information about what types of people get into accidents. Over the years they see a trend. Drivers that work as engineers tend to get into fewer accidents. Why? It would be fun to speculate about the reasons (pocket protectors — need we say more?) but the insurance companies don't really care about that. All they know is that, in fact, engineers are a low risk. Since there is less chance that they will wrap their cars around the trunk of a horse chestnut tree, they charge engineers less for insurance. Simple.

But you say you are a teacher instead of an engineer? You might still be in luck. There may be discounts for teachers. You never know unless you ask — and unless you shop around. Not all insurance companies are the same.
Professional Organizations and Auto Clubs

Have you ever been about to pay $100 for a hotel room, only to discover that a AAA discount saves you 15 percent? Now you're paying $85 and feeling proud of yourself. It's similar in the insurance business. Affiliation with AAA — and certain other professional organizations — will lower your rates. You should check with your employer to see if there are any group insurance rates. At the same time try checking directly with the insurance company representative when you inquire about the cost of policies.

Combined and Renewal Discounts

A big source of savings is to insure your cars with the same company that insures your house. Make sure you ask if combined coverage is available. This will lower your payments on your car insurance and make your homeowner's policy cheaper too.

It's also important to make sure you are getting a "renewal" discount that many car insurance companies offer. This is a discount given to people who have been with the same insurance company for an extended period of time. If you have carried insurance with a company for several years, and not had an accident, your insurance company likes you. Think about it. You paid them a lot of money and they didn't have to do anything except send you bills and cash your checks. True, they were ready to do something if you got in an accident. But you didn't get into an accident so they're happy and want to continue their relationship with you. A renewal discount is a good incentive to urge you to return. And it's a good reason for you to stay with them.
Discounts for Auto Safety Features

Auto safety features will also lower your payments. Heading the list of money saving safety features is antilock brakes. Certain states — such as Florida, New Jersey and New York — encourage drivers to buy cars with antilock brakes by requiring insurers to give discounts. Check to see if you live in such a state, or if the insurance company you are considering gives a discount for this feature. Automatic seatbelts and airbags are also frequently rewarded with insurance discounts.
Assume More Risk

Two powerful ways to bring your coverage down is to assume a higher risk. This is done in two ways. The most dramatic reduction can be realized by dropping your collision insurance on an older car. If the car is worth less than $2,000, you'll probably spend more insuring it than it is worth. The whole idea of driving an older car is to save money, so why not get what is coming to you?

Another way to redesign your policy — and save money in the process — is to ask for a higher deductible. The deductible is the amount of money you have to pay before your insurance company begins paying the rest. In other words, you pay for the little dings and bumps and let your insurance company pay for the heavy hits.

For example, a common deductible amount is $500. This means if an accident you're in causes $1,500 worth of damage, you pay $500 and the insurance company pays $1,000. You could, however, set your deductible to $1,000. This still covers you against heavy losses, but it may decrease your monthly premium by as much as 30 percent.


As a final note, if you are being strangled by high insurance costs, keep this in mind when you go car shopping next time. The more expensive and higher-performance the car is, the higher the premium will be. This is particularly true of cars that are frequently stolen, or are expensive to repair. The insurance company keeps this in mind when setting its insurance rates for this vehicle. Shop for a low-profile car and get your kicks in other ways. You'll love the savings you'll see on your auto insurance.


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Dangerous Dog Breeds and Homeowners Insurance Rate

8:19 PM    No comments

Dangerous Dog Breeds and Homeowners Insurance Rate

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If you own a breed of dog that's considered dangerous, you may pay a higher homeowners insurance premium even if your dog has never shown a propensity toward biting Home Insurance Looking for an online quote?

Insurance companies will generally insure homeowners with dogs, but with certain limitations. If you own a breed that has been historically violent or unpredictable, you may have to pay an increased premium even if your dog has never shown a propensity toward biting. Some companies will lower this fee if the dog has passed an accredited obedience school. The Cost of Dog Bites


Dog-bite related accidents cost insurance companies over $350 million a year, and, according to the Insurance Information Institute, dog bites are now the single largest cause of home insurance claims. It's no surprise that insurance companies often balk at being on the hook for the costly litigation.
A study by the Journal of the American Veterinary Medical Association (JAVMA) found that over a 20-year period, the following ten breeds were responsible for over 230 deaths. Numbers of Deaths per Breed (1979 - 1998)

Dog Breed Fatalities
Pit Bull 76
Rottweiler 44
German Shepherd 27
Husky 21
Malamute 15
Wolf-dog hybrid 14
Chow Chow 11
Doberman 10
Saint Bernard 8
Great Dane 7

If you're already an owner or considering getting any of those ten breeds, you can expect difficulty finding home insurance coverage. Obviously, as you work your way down the list, it will become easier to find an insurer that's willing to assume the added liability of a potentially dangerous dog.

Dog Bite Liability Laws from State to State 

Though it may be difficult to find home insurance at an inexpensive rate, it's important to consider that with coverage, you may be liable for your dog's actions. Some states have a one-bite law that essentially gives homeowners one biting attack that they are not liable for. Others hold dog owners responsible for all unprovoked incidents. States with "One Bite" Laws:
  • Alaska 
  • Arkansas
  • Hawaii
  • Idaho
  • Kansas
  • Maryland
  • Mississippi 
  • Missouri 
  • Nevada 
  • New Mexico 
  • North Carolina 
  • North Dakota 
  • Oregon 
  • South Dakota 
  • Texas 
  • Vermont 
  • Virginia 
  • Wyoming 

Though Pit Bull and Rottweiler owners often swear by their dogs' loyalty, many may find their pooch to be utterly un-insurable. Be sure to research the liability laws of your state and contact several insurance agents if you already own or plan to purchase any of these breeds. 


And remember, if your dog isn't insured, you could be held liable for any physical harm or legal fees that result from its actions. Even if you have to pay an increased premium, it's financially irresponsible to avoid getting coverage altogether.

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Insurance Quotes

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How to Get an Insurance Quote

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Shopping for a car insurance quote is common place in the insurance industry. Advertisements are endlessly trying to entice you into switching companies. If you have been with the same carrier for a couple of years and you are not happy with rates or don't like the service, it is a good idea to start shopping around for a new insurance carrier and or agent.

Shop for a Great Price

The number one reason most people shop for car insurance is price. Insurance companies are notorious for rate changes. If your rate has been creeping up over the years, it is possible to find cheaper prices with a different carrier.

Compare Coverage: You need to be able to do a side by side comparison of coverage. The best way to compare coverage is to get a copy of your declarations page. Give your declarations page to different agents and they will have access to all of your pertinent information. Request the potential agents to quote you a rate with coverage as similar as possible. It is helpful if you have a fax machine or are able to email your declarations page so you don't have to physically go to multiple offices. Compare coverage as closely as possible so you can see the true price difference. If different coverage is applied, you will never know your true savings. If you feel like it's time to make changes to your coverage do so after you compare apples to apples.


Verify Discounts: Look over the discounts given in your new quote. Make sure you actually qualify for the discounts listed. If your teenager does not qualify for a good student discount, make sure the good student discount is not applied on your quote. It is very frustrating when you believe you qualify for a certain rate, only to find out later your price has changed.

Run Driving Record: Always disclose your driving record to a potential new insurance carrier. Tell them of any tickets or accidents you've been in over the past five years. If you are not sure, request the agent to run an MVR, motor vehicle report, to verify any past indiscretions. Disclosing the information will give you a more accurate quote, plus it's nearly impossible to hide such things in the end.

Shop for Great Service: Maybe you are switching insurance companies because you are not happy with the service you are getting from your current company. Bad service is a good reason to start shopping for insurance. However, it can be difficult to determine what kind of service you'll receive with a different carrier or agent.

Get a Referral: Friends and family can be the best place to look for a good insurance company. Ask around and find out what their experiences have been with their insurance carrier and agent. If someone has raving reviews about their company, definitely give it a try. Ask both about the agents ability and the quality of claim service, both are imperative for good customer service.

Knowledgeable Agent: It's important to find a knowledgeable agent. Find out how long the agent has been selling insurance and ask a lot of questions. Do you get a good vibe and feel like your questions are answered fully? Is the language used easy to understand? It is key to be able to easily communicate with your agent. If you are looking to purchase insurance direct online, look for lots of information that is easy to understand.

Availability: A great trait in a good agent is availability. What are the office hours? Does someone answer the phone consistently, and are phone calls returned promptly? If purchasing online, is the site easy to navigate and reliable?


Combine a low price with great customer service and you have hit the insurance carrier jackpot. Knowing what to look for while you shop for insurance can make a big difference in your success. Take the time to scope out multiple carriers, and take your friend's and family's advice to help narrow down your prospects. Buying insurance is a necessity. Lots of options are available, and it is up to you to determine which insurance company is best for you and your family.

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