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Are you paying too much for Car
Insurance?
First of all, it is illegal to drive
your car without car insurance. If you are buying
a car, the dealer will not let you drive away without
proof of insurance. Before you go in to buy a car
you need to check what the rates will be on the
new car. Do not assume that your rate on your old
car will be the same. If a car is a high performance
rating or in a high theft category your rate will
definitely go up. Most people are paying too much
for their current car insurance. There is
always money to be saved, so get online and shop
around. You may be pleasantly surprised at how much
you can save. One great place to start is Low cost auto insurance From Comparison Market.. They will shop around for you and get
you a number of different quotes.
How much Car Insurance do you
need?
Every state has different coverage
requirements.
For example: Arizona requires
15/30/10, New Jersey 15/30/5. The first two numbers refer to bodily injury liability limits and the
third number refers to the property damage liability limit. For
example, the first two numbers in 25/50/20 would mean in an accident
each person injured would receive a maximum of up to 25,000 with only
50,000 allowed per accident (ex. 2 people needing 25,000, if the need
is more such as 3 people needing 25,000 then whoever files first gets
first access to the 50,000 limit and you may be sued for the rest if
the accident was your fault!). The last number refers to the total
coverage per accident for property damage which in this case would be
20,000.
You should also consider what you are personally worth. If
you insure yourself for the state minimum and you
have an accident which is your fault, the injured
parties can sue you personally for any amount above
what you are insured for. If you have no assets,
don't buy excess coverage.
Review your driving record and
current insurance policy.
Before you begin shopping you should
know your current driving record and exactly what
is in your current policy and the premiums you are
paying. Check your driving record with your
states DMV. If there are some tickets ready to expire,
wait a little longer until they are removed. Once
you have determined your premium payments and your
coverage you can begin shopping.
Get Quotes Online.
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Two great places to go. Car Insurance quotes
from INSWEB.
This is a great way to get several quotes from different
insurance companies.Low cost auto insurance From Comparison Market. Get real-time quotes and buy directly from
some of America's top auto insurance companies.
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Write down your quotes.
After you have received quotes from
different insurance companies, compare the policy
against your current one and if you have questions
call the company direct. Ask about any discounts
available for safe driving record or extras on your
car such as car alarms or anti lock brakes. Evaluate
the reliability of the insurance company. You will
probably save money.
Cancel your old policy.
Once you have secured your new insurance
policy and have the confirmation from them cancel
your old policy immediately or you will be billed.
Do you need
Gap Insurance?
Did you put less than a 20%
down payment on your new vehicle? Did you roll the balance from
your old car to the loan on your new car? Are you upside down
in your car loan? If you answered yest to any of
these questions you should consider gap insurance
to make sure you are covered.
Gap
insurance covers you when you owe more on the
car than it is worth. Most people that put less
than 20% down on their car will be upside down for
the first couple of years. If you owe $20,000 to
the lender and you total your car that is worth
only $16,000, you will owe the lender $4,000 because
the insurance company will only pay $16,000. You
can avoid this by putting a big down payment on
the car. If you cannot do that or you are doing
one of their 0 down deals you should look into gap
insurance. Don't
buy gap insurance at the Dealer, you can get it online for
much less.
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