.(1)15 Ways to Lower Your Car Insurance Quote
1. Shop around
The difference in price between various companies can be significant.
What one company may consider a high risk factor another company may not
view as so important. Insurance companies arrive at a price for your car
insurance by adding or discounting money after each answer you give to the
questions they ask you. Each company has its own rules as to what they
consider should increase or decrease your premium. By shopping around you
get a better list of prices to compare.
2. Buy a lower group car
One of the important factors that insurance companies take into account
is of course your vehicle. There are thousands of different cars on the
road so companies divide them up into groups. Most companies will adopt
the ABI (Association of British Insurers) group rating. This splits up
vehicles into 20 different groups. Generally speaking the higher the group
rating for your vehicle, the higher your premium will be. Some companies
may also combine your driving experience with the vehicle group to get a
better idea of how high the risk is. This is one of the reasons why young
drivers should consider buying a lower group car if they want to lower
their insurance cost.
3. Consider Third Party Only cover
A Third Party Only insurance policy is the minimum amount of cover
legally required - it is also the cheapest. Generally speaking you should
consider opting for this type of policy if your vehicle is of low value.
In the unfortunate event of having an accident, any damage to a third
party vehicle will be covered but any damage to your vehicle is not.
However, if your vehicle is of little value then you may not be too
concerned. It may not be worth paying extra for a Fully Comprehensive
policy in these circumstances.
4. Maintain a good credit rating
More and more insurance companies are adopting credit scoring
techniques as part of the overall calculation of your car insurance
premium. By keeping a good credit history you may avoid any additional
premium that companies add to your price for having a bad credit score.
5. Buy on the web
Many insurance providers now offer some good discounts for buying the
policy over the internet. The theory is that by purchasing your insurance
over the web, you are saving the company money by not requiring telesales
agent time and incurring free-phone costs. This saving is passed on to you
in the form of a discount for buying online. If you have got prices by
telephone then check your quote again on their website, you may be
surprised at how much cheaper it is.
6. Have a higher voluntary excess
During the quotation process you will be asked how much voluntary
excess you want to have. Insurance companies will generally include a
compulsory excess amount on the policy but give you the opportunity to
increase this if you wish. The more the voluntary excess the lower your
premium should be. However, in the event of a claim, you will have to pay
a higher amount yourself, up to the total amount of excess on your policy.
7. Reduce your annual mileage
How many miles you do a year is a common question that can affect your
car insurance premium. The more miles you do the more your premium is
likely to be. Quotation systems and telephone agents will often suggest an
amount of miles for you. Try and work out how many miles you will
genuinely do. It may be less than the amount suggested. Of course, you
should always give an honest answer to this and other questions.
Get a cheap UK car insurance quote from
http://www.acceptdirect.co.uk
8. Keep a clean driving record
This may be easier said than done. However, by having few or preferably
no driving convictions, you can avoid being penalised by increases in your
car insurance premium. Getting caught with a speeding fine is often not
the only financial penalty you incur. Insurance companies take very
seriously all driving convictions and it is usually an important part of
their rating process. You can expect an increase in the cost of your
insurance if you do get caught with a driving conviction, so it pays to be
a safe driver.
9. Keep claim free
This ties in neatly with number 8 above. The biggest factor affecting
the cost of your car insurance premium is how many No Claims Bonus Years
you have. Full No Claims Bonus is generally considered by most companies
to be five years or more, this can give you huge discounts, in some cases
up to 75%. By being a safe driver and avoiding potential claims, you can
continually benefit by building up your number of claim free years. Every
additional No Claims Bonus year you get, the lower your car insurance cost
should be. Some companies give you the option of paying a bit more on your
premium to protect your No Claims Bonus.
10. Be realistic about the value of your car
Most of us have an inflated view as to what our car is worth. When
asked the value of your vehicle during the insurance quotation process,
people will often state an amount that is unrealistic and above the real
value of the car. People do this as they believe that this is what they
will get back from the insurance company in the event of a claim. The
reality is that the company will only pay out what the car is worth at the
time of the claim and not what you stated for the quote. In fact, by
giving a high and unrealistic value, you can increase your car insurance
premium as this is often a factor affecting your final price.
11. Remove unnecessary named drivers
Additional drivers on your policy usually mean a higher premium. A lot
of people add a number of extra drivers on the policy just in case that
person needs to drive the car. However, having all these drivers will push
up the cost. By only naming drivers on the policy that will definitely
driver the car, you can lower the final cost. If you find that an unnamed
driver needs to drive the vehicle then most companies will allow you to
temporarily add a new named driver for a small cost.
12. Improve your car security
Theft of and from your vehicle are important considerations when
insurance companies calculate your price. Most companies will give you a
discount for having better security of your vehicle. An alarm and
immobiliser will usually attract a small discount whilst having a tracker
device installed may give you a larger reduction. Some companies may
insist on having such devices installed on more expensive and desirable
cars before they even consider offering you a price.
13. Take an advanced driving test
Although not compulsory, taking an advanced driving test can not only
improve your driving skills but also help to lower your car insurance
premium. Some companies look favourably on people who have taken the
advanced test as it shows commitment to safe driving thus lowering the
chance of having a motoring accident.
14. Pay your premium in one go
By paying for your car insurance all in one go, you can avoid paying
additional interest charges that would be added on if you opted to pay by
instalments. The interest charges can be quite significant, so if your
finances allow, you can save a good amount of money by paying for the
whole lot up front. In some cases, companies may even give you a small
discount for doing this.
15. Get married
Okay so this may seem like a dramatic final way to lower your premium.
However, a number of insurance companies offer lower premiums when your
named drivers are insured and spouse as opposed to two unmarried drivers.
Some companies believe that this shows an element of stability which is a
hallmark of safer drivers and give you a discount on this basis.
Copyright © 2009 Accept Direct Limited
http://www.acceptdirect.co.uk
Andrew Bowen is the CEO of Accept Direct Limited. Accept Direct sell
low cost UK car insurance through their website
http://www.acceptdirect.co.uk
Written by: Andrew Bowen
(2)18 Simple Ways To Save Money On Your Car
The upkeep of your vehicle can be quite an expense - from
initial purchase to insurance to maintenance. And sometimes we get the
sinking feeling that every time we need a car repair, we’re going to get
taken for a ride. (pardon the pun!) Actually there are some ways to make
sure you don’t get a raw deal when dealing with a local body shop.
After you get recommendations for honest mechanics, call around to check
out the prices for certain jobs. It’s always smart to get a second
opinion.
How about some preventative medicine? Keep your gas tank filled. This will
help you avoid the gas line freezing up in cold weather. Also, driving on
“fumes” allows little pieces of dirt at the bottom of your gas tank to run
through the fuel lines with the last drops of gas. This debris clogs up
the fuel filter and can cause carburetor damage as well.
Sometimes a problem with your car’s electrical system results from a
simple blown fuse. Check to see if you have any blown fuses before
investing in a tow truck!
Keep track of how much oil your car uses. A sudden change in oil
consumption means you need to see a technician.
Save your brakes by having your brake fluid changed every 30,000 miles.
Check your tire pressure once a month. This simple maintenance check can
add up savings at the gas pump!
Stop and go traffic causes excess wear and tear on your vehicle. Go ahead
and give your car a nice twenty minute ride at 55 mph on the highway every
couple weeks if you “major” in short trips.
There are other ways to save money on car expenses. Let’s look at the
insurance payments.
If you’ve budgeted for possible out-of-pocket expenses in case of a car
accident, you might want to consider increasing your insurance deductible
to $500. This will lower the cost of your insurance.
Talk to your insurance agent. If your car is as old as the hills, you
might want to drop collision coverage to save money.
Car insurance companies offer a variety of discounts. Ask your agent if
the company offers reductions for driver training courses, anti-lock
brakes, car alarms, air bags, mature drivers, good students or maintaining
a good driving record.
Before you purchase from a dealer, ask about the dealer's return policy,
get it in writing and read it carefully. Dealers are not required by law
to give used car buyers a three-day right to cancel.
Visit
http://www.fueleconomy.gov>http://www.fueleconomy.gov to find cars
that are fuel efficient.
Each 5 mph you drive over 60 mph is like paying an additional $0.10 per
gallon for gas.
In most cases, using cruise control on the highway will save gas.
Replacing a clogged air filter can improve your car's gas mileage by as
much as 10 percent. This isn’t going to cost you an arm or leg either.
Do your homework when buying a car from an auction. Many vehicles that
have been damaged by floods and hurricanes are going on the market. These
won’t last long – leaving you with a flood of bills. Be a little concerned
if the carpet looks too new, and check carefully for signs of rust.
Carfax.com shares info on inspecting a used car to make sure you get the
best deal.
If you use your car for business, keep track of miles traveled so that you
can use this for a tax deduction. Get more info at irs.gov.
When you consider all the ways you can save money on your current vehicle,
you might be persuaded to put away the extra each month for a new car down
the road!
About the Author
This article provided courtesy of
http://www.car-alarm-guide.net>http://www.car-alarm-guide.net
Written by: Jeff Slokum
(3)20 Tips to cheaper car insurance..
Car insurance premiums rise year after year,Although your car insurance premium largely depends on your Car, Age and discount there are a few steps you can take to help stop the rise or even reduce your premium.
1. Buy from the internet.
Most companies offer a discount for online applications as this is
automated process and costs them a lot less to process your application,
you can usually see discounts of 5%-10%.Click here to get a
instant online
insurance quote
2. Shop around.
All insurance companies use different formulas to calculate your insurance
premium by adding or detracting money after each question the ask you.By
shopping around you could find big savings on your insurance premium.
3. Buy extra products.
Most insurance companies also do other insurance products ie"Building's
and content's insurance".Most insurance companies will give extra
discounts for purchasing more than one product,by doing this you could
save a fair amount on all your insurance premiums.
4. Pay your insurance premium in one go.
By paying your insurance premium in full you can avoid paying costly
interest charges that would be added if you paid your insurance premium by
instalments.Some insurance companies may charge as much as 15% APR on
instalments.You may even receive a discount for paying in full.If you can
not afford to pay in full check out what rate a small loan would be you
may still save some money.Fill out a
online loan
application
5. Increase your voluntary excess.
Your excess is the amount paid by you in the event of a claim,by
increasing this your insurance company should reduce your premium.
6. Lower your annual mileage.
Lowering your annual mileage can reduce your premium,most insurance
companies will quote you for around 12,000 miles a year.Try and work out
how many mile's you will do if it's likely to be less you may get a
discount.Be honest about this as your insurance company may ask to see old
MOT'S and service history to verify your mileage in the event of a
accident.
7. Have a Alarm,Immobiliser or Tracker fitted.
Theft of and from your vehicle play a major role in the calculation of
your insurance premium.Having a alarm or immobiliser fitted will give you
a small discount to your premium and having a tracker fitted could make
you quite a saving.
8. Take the advanced driving test.
Passing your advanced driving test will show your insurance company that
you have extra skill when driving and are less likely to be involved in a
accident.
9. Don't inflate the value of your car.
Adding extra value to your car when you apply for your insurance quote
will do nothing for you apart from increase you premium.In the event your
car is stolen or written off you will only be paid the market value of
your car at the time of your accident.
10.Look after your credit rating.
Insurance companies are now looking at your credit score as part of the
calculation for your insurance premium.Maintaining a good credit rating
could avoid unnecessary additions to your premium.
11. Insure your car Third Party Only.
Third party only is the minimum cover you are required to have by law it's
also the cheapest.If your vehicle is of a low value then you could
consider this type of cover.You need to remember that with this type of
cover if you was to have a accident that any damage to your vehicle would
not be covered for repair.
12. Keep a clean licence
Insurance companies take driving convictions very seriously and can
dramatically increase your car insurance premium,by maintaining a clean
licence proves to the insurance you are a safe and careful driver.
13. Remove any unnecessary drivers.
If you have a young driver on your insurance policy that no longer use's
the vehicle you should remove them as this will reduce your premium.
14. Young driver's add a older driver.
Some insurance companies will reduce young drivers premiums if they have a
older named driver on the insurance.
15. Build up your no-claims discount
One of the biggest factors affecting your car insurance premium is the
number of years no-claim's discount.You could receive up to 75% discount
for around 5 years of no claims.The more years you can stay claim free the
safer driver your insurance company will see you as.
16. Protect your no-claims discount.
Although this will increase your insurance premium if you have a lot of
years of no-claims you may want to protect this as a small claim may
increase your premium by up to 75%.
17. Buy a lower insurance group car.
A very important factor to your insurance premium is what car you
drive.Most insurance companies adopt the Association Of British Insurance
Group Rating.This rates vehicle's from 1 - 20 generally speaking the
higher the group the higher the premium.By buying a car with a lower group
rating can lower your premium especially for young or inexperienced
drivers.
18. Join a car club.
If your vehicle is a classic or specialist consider joining a club related
to your car most clubs offer insurance schemes which have very good
premium rates.
19. Put your spouse as a named driver.
Some insurance companies offer discounts when you add a spouse as a named
driver as opposed to unmarried couples,they see marriage as a sign of
stability and associate stability with safe driving and there for give you
a discount.
20. Take pass plus.
If you are a new driver consider taking your pass plus.some insurance
companies could give you as much as a 25% discount and when you have just
passed your test and have no no-claims this could make a considerable
saving.
About the Author
Article by
www.thevirtualgarage.co.uk The free
autotrader uk alternative
Written by: Kev Higgins
(4)Giving Finances a Breather Through Loans for Unemployed
Martin graduated of the college with dreams of a highflying
career. However, the subsequent unemployment put a check on his dreams. It
has now become a matter of making the ends meet because of the various
debts mounting up on his account and the unemployment allowance falling
deficient of meeting even the basic needs.
Almost every unemployed person faces a situation similar to the above
until they are exposed to loans for unemployed.
Loans for unemployed present various options before unemployed people
to enable them to purchase the various necessities along with a lump sum
payment for repayment of debts, buying holidays, and for purchasing cars.
Stable financial income is a prerequisite for the normal loans. Going by
this logic, an unemployed person would have never qualified for a normal
loan because of an absence of any source of income. However, since
unemployment is not a rare incident and because the unemployed people
cannot be left to fend for themselves (humanitarian grounds), loan
providers have designed a few criteria that will make the unemployed
people eligible for financial assistance.
Being a homeowner minimises most of the risk emanating out of
unemployment. The loan provider knows that in the event of the borrower
not repaying the loan in full, it can utilise the home to recover the
amount unpaid. The minor degree of risk is reflected in a lower rate of
interest and more flexible terms.
The home kept as collateral, has more of a nominal rather than a tangible
role in the loans for unemployed. The loan provider holds the right of
ownership to the house rather than the house itself. Thus, the borrower
continues living in the home while the home continues backing the loan.
To be more concise, the loan for unemployed is taken against the equity in
the home. This is the value, in terms of money, that a house will fetch if
sold in the market. As a loan is taken, the equity in the home depletes.
The equity is gradually replenished with monthly or quarterly repayments.
The method that a borrower chooses to benefit from the loan for unemployed
further classifies them into two. These are Home Equity Loan and a Home
Equity Line of Credit better known as a HELOC. Under a home equity loan, a
borrower draws the entire amount at one count. This is particularly when
the borrower has sizable expenses to make. Debt consolidation is the most
popular use to which the home equity loan is put to. The small
unemployment grant from the government is not able to sustain the
borrower’s expenses during the term of unemployment, and a mound of debts
gets collected during the period. Cheap finance through home equity loans
will present an easier method to repay such debts. Another important uses
that a home equity loan is employed to are buying a car, paying the bills
incurred while vacationing, and using it for home improvements, that in
turn adds up to the equity in the home and thus opens newer opportunities
for getting loans.
A home equity loan however, will not suit the cases where the period of
unemployment is predicted to last long. Having used up the entire equity
in home, the borrower will be left with nothing to pay for his necessities
during the subsequent period. In this case, a home equity line of credit
will be more suitable. HELOC provides assistance to the borrower as and
when the needs arise. Since the balance of the HELOC changes regularly
with the repayments and withdrawals, the borrower is charged on the loan
amount drawn rather than the entire loan sanctioned. The interest in HELOC
is charged on the basis of the standard variable rate. This proves
disadvantageous for borrowers at times when there is an upward surge in
the interest rate. The interest rates rise and increase the repayments in
turn. A novel method of escaping the high interest rates will be by
requesting for a guaranteed introductory rate.
The financial options for unemployed people without sufficient collateral
are no less. A perfect credit report will play an important role in their
case by inspiring confidence among the loan providers regarding the
borrower’s capability to repay loans for unemployed. Interest rates will
certainly be different because of the absence of collateral. Like the
unsecured loans, unsecured loans for unemployed carry a higher rate of
interest.
Loans for unemployed show that the unemployed people do not have to
subsist solely on a meagre grant from the government. Numerous deals from
a multitude of loan providers are waiting for the unemployed people to
employ loans for unemployed to disburse their expenses.
Andrew baker has done his masters in finance from CPIT.He is engaged in
providing free,professional,and independent advice to the residents of the
UK.He works for the Secured loan web site loans fiesta for any type of
loans in uk,secured loans,unsecured loans,debt consolidation loans please
visit
http://www.loansfiesta.co.uk
About the Author
Andrew baker has done his masters in finance from CPIT.He is engaged in
providing free,professional,and independent advice to the residents of the
UK.He works for the Secured loan web site loans fiesta for any type of
loans in uk,secured loans,unsecured loans,debt consolidation loans please
visit http://www.loansfiesta.co.uk
Written by: Andrew Baker