Automotive

Pay Less for Car Insurance: 10 Ways to Save Money Now

Car insurance is probably a significant part of your budget. According to the National Association of Insurance Commissioners, Americans pay on average about $800 a year for car insurance-that’s over $67 a month. Wouldn’t it be nice to reduce that payment by as much as 20 or 30 percent? You can-and it’s not as difficult as you might think. Take a look at the following 10 tips from InsWeb.com and start saving money now.

1. Shop Around and Compare Rates Regularly

If you don’t compare rates every once in a while, you’ll never know if you could be paying less. According to an independent study, people who compare rates and switch carriers at InsWeb.com save an average of $301* on a six-month policy.

2. Increase Your Deductible

Simply put, the higher your deductible, the lower your premium. The cost of an accident will be that much more expensive, but the savings on your rate could make it well worth it.

3. Insure Your Home and Your Car With the Same Carrier

With a multi-line insurance policy you purchase both your car and homeowners insurance from the same carrier. A multi-line policy can save you up to 15% on both premiums.

4. Pay Your Policy in a Lump Sum

Extra administrative fees are often applied to payments when you split your premium into installments (e.g. monthly, quarterly, etc.). Be aware that a monthly fee of even $7 can add up to almost $100 a year.

5. Take Advantage of Good Driver Discounts

Most insurance companies provide discounts for drivers with excellent driving records. In fact, some states require companies to provide these discounts. If you haven’t had any accidents or tickets in the last three to five years, you’re probably eligible.

6. Don’t Overpay Just Because Your Record Isn’t Perfect

Not all companies look at violations and accidents the same way, and many companies specialize in insuring different types of drivers. If you shop around, you might be surprised at what you find.

7. Look for a Safe Vehicle Car Insurance Discount

Many car insurers offer discounts for various safety features on your vehicle, including air bags, alarms, factory-installed mechanical seatbelts and antilock brakes. When getting  updated car insurance quotes, be sure to indicate such safety features.

8. Pay Less When You Drive Less

Many car insurance companies will offer discounts on vehicles that incur low annual mileage. If your commute has recently changed or you have recently retired and no longer drive your car to work, you might save money by getting an updated quote.

9. Take Advantage of Good Student or Senior Discounts

Because many companies feel conscientious students make conscientious drivers, students currently enrolled in school often receive a discount on car insurance if they can demonstrate good grades. Similarly, providers are also known to value the wisdom of an experienced driver, offering discounts to drivers over 50 as a result.

Automotive

Don’t Let Repair Costs Come Between You and Your Car

There’s an old saying in the auto industry, “They All Break” – and it’s true, regardless of make or model.

Unfortunately when it comes to our vehicles, they always seem to break when they’re out of warranty which means fat out-of-pocket expenses.

With economic uncertainty many people are holding on to their vehicle for longer than usual and even with proper maintenance, expensive repairs are inevitable.

Data shows that two of the most common big ticket items to go are transmissions and air-conditioning.  The average cost of replacing a transmission is now over $2000 and the average cost for a major air-conditioning repair is now over $700.

But dealing with auto repairs doesn’t have to be a nightmare.  The recent growth in extended and after-market warrantees now gives consumers a good way to protect themselves from large and unexpected auto repair costs.

Today, there’s little doubt that extended warrantees do save you money in the long run

But consumers should be extremely careful when purchasing an extended auto-warranty.  It’s very similar to buying insurance and there are a few key questions you should always ask:

  1. What is the deductible? As with insurance, warrantees can include deductibles that will have an impact on the price. Chose a deductable that makes sense for you and make sure you understand if the deductible is applied on each repair separately or just the first repair.
  2. What are the labor rates the warrantee reimburses for? Do they seem reasonable for your preferred repair shops? Do they pay the repair shop directly, or do you need to pay and wait for reimbursement?
  3. Exactly what is covered under the warrantee? It’s better to have one that clearly lists what is not covered (exclusive) rather than what is covered (inclusive).
  4. Have you read the full agreement? Make sure you do so before signing.
  5. Most importantly, is the warranty provider reputable and financially secure? Will they be there when you need them to pay off?

With dozens of companies now selling extended warrantees, how do you find the right one for your particular needs? 

Fortunately, today there are online services that let consumers quickly shop for the best rates from a nationwide selection of extended warranty providers all competing for your business. 

One of the most comprehensive of these services is called Extended Warranty Pros.  They operate a free website that will find you the best warrantee offers for your exact needs from a wide network of warranty providers.   You simply enter your details and requirements and then receive personalized quotes from a range of providers.  The site works exclusively with reputable companies providing the best value to consumers.  It makes it super easy to compare various warrantees by cost and coverage.

The fact is that there’s a lot of variation in the prices of extended warrantees.   But, with a minimal amount of time and the help of a service such as Extended Warranty Pros you can save time and rest assured you are getting a good value.

So, before your transmission falls out and you have to blow your vacation fund on a new one, find out just how easy it is to get some protection and peace of mind.

Click here to start.