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Posts Tagged ‘car insurance’

A group representing the insurance regulators has been meeting over the last few days. There have been a number of issues on their agenda, but the most interesting has been whether to adopt a policy for every state to require its local insurance companies to offer pay-as-you-drive policies. These policies have a simple purpose. If motorists drive less, there’s a reduction in the level of greenhouse gas emissions. This is a good thing because it will cut down on the overall damage to the environment. No matter what you believe about climate change, this will improve the health of the many who suffer from skin allergies and asthma caused by the pollution. The insurance companies therefore reduce the premiums for those who drive less. Not only is this environmentally responsible, it’s also good business sense. Lowering premiums attracts more business, but if these drivers reduce the number of miles they drive a year, their risk profile is lower. They should be involved in fewer accidents. This becomes a way of reducing premiums but maintaining profitability. Read the rest of this entry »

Virtually every car owner is unhappy about the cost of car insurance and it’s not really surprising, as a regular policy of insurance costs at least several hundreds of dollars each year. The insurance rates are calculated on a fixed basis, but are generally based on your age, driving history and other factors, including assessments of credit – depending on where you are placed geographically, which could mean your annual premium can be significantly higher than that. So how can you reduce your premium and save the money?
If you own a car and it goes without insurance is generally not an option. In most countries, you are required by law to purchase a minimum amount of liability coverage. In fact, your insurance should be more than the bare minimum if you want to ensure sufficient protection. Depending on your personal situation, there are some basic rules for research when choosing your car insurance.

One of the first things to do would be to ask several insurance companies. A particularly opportune time to investigate your alternatives is when your current policy is about to be renewed, especially if you are premium has increased. Auto insurance premiums for the exact same insurance coverage on the same car can vary greatly from one insurer to another.

Credit history is an important factor for insurance companies. Maintaining a good credit history you will enjoy lower auto insurance rates. Increasing the deductible on auto insurance is a good way to cut the cost of the policy. Sometimes, the annual premium can be reduced by 10 percent or more if you step-up the franchise.

Sports cars in general and other high-performance vehicles are classified as high risk as they are common targets for thieves and vandals, and usually those who own such cars tend to drive more hastily. Your premium will be higher if you own such a vehicle.