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How Major Life Events Affect Your Auto Insurance Rates

Posted by on 1:59 pm in Uncategorized | Comments Off on How Major Life Events Affect Your Auto Insurance Rates

A life event is anything that changes your personal circumstances or status. Life events have the ability to increase, decrease or even invalidate your auto insurance coverage. Here are some of the major life events, and how they may affect your car insurance:  Marrying and Divorcing As a general rule, marriage has a beneficial effect on your auto insurance rates. Most insurance will give you a discount once you get married. Available statistics show that married drivers are less likely to get involved in auto accidents as compared to their single counterparts. The exception is if your partner has a bad driving history, for example, if they have a conviction for driving under the influence (DUI) on their record. In that case, marriage may actually increase your rates. There are also other indirect ways in which marriage may lower your rates. For example, you may get a multi-car discount if you both own cars or infrequent driver discount if you decide to use one of the cars for most of your journeys. All these gains are likely to get reversed, however, when you divorce. Having a Child Having a child isn’t likely to have a direct effect on your car insurance rates. However, there are numerous indirect ways in which it may increase or decrease your premiums. Consider these examples: Buying a bigger car – Some people upgrade to bigger cars after the baby; bigger cars tend to be more expensive, which results in increased premiums. Safety gadgets – Parents tend to be more safety conscious than parents. Most insurance companies have discounts for car owners who install safety gadgets. Reduced mileage –Babies reduce your free time, which means you may not drive as much as you did during your single days. This reduced mileage may result in lower insurance rates. Moving Moving is another example of a major life event that may have both direct and indirect effects on your car insurance premiums. Insurers often give different quotes for different zip codes. This is because your zip code represents your geography, and different areas present different risks to insurers. For examples, motorists in areas with high crime rates attract higher premiums, as does motorists in high accident areas. The effect may even be greater if you move out of state. State laws determine insurance costs and states have different laws. For example, moving from a state with a low minimum coverage to a state with a high minimum coverage may increase your rates. The good news is you can manipulate many of these factors to your benefit. For example, you can decide whether or not to combine your policy with your spouse. You can also install safety gadgets to attract security discounts. In short, you won’t always be at the mercy of your life’s events if you are well informed.  For further assistance, contact a local provider, such as those from Woodmansee Insurance...

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Things To Consider When Choosing Home Insurance Coverage

Posted by on 1:32 pm in Uncategorized | Comments Off on Things To Consider When Choosing Home Insurance Coverage

Are you lost when it comes to getting the best home insurance coverage because you have never had it before? You may be able to take advantage of more benefits than you think if you choose the right type of coverage for your house. This article will discuss the type of coverage that you should consider when deciding on which type of homeowners insurance plan is the most ideal for your home. 1. Personal Belongings in Your House Can Be Covered A home insurance plan is more than about having coverage for your house, it can also extend to your personal belongings that are kept inside of the house. The reason it is a good idea to make sure your personal belongings are covered is because you can never predict when your house might be burglarized. There are some home insurance plans that will allow you to cover specific personal items. For instance, if you have expensive jewelry or rare collectibles in your home, a home insurance plan might give you the opportunity to get compensated for them if they are stolen or damaged. 2. You Can Have Coverage When You Take Road Trips Home insurance can actually be a big advantage even when you’re not at home much–like if you are a big traveler. You must keep in mind that when you are staying in hotels during your road trips, different maids or other hotel staff will be in your room, possibly when you are not there. Home insurance will give you the advantage of filing a claim to get compensated if any of your personal belongings turn up missing. This kind of coverage actually goes beyond hotel rooms, as it can also cover personal items that come up stolen out of your vehicle. Coverage for personal items in a vehicle can be beneficial whether you are a traveler or not. 3. You Can Have a Peace of Mind in the Event of a House Fire The worst thing about house fires is that they can spark up at any given time. No matter how good you are in the habit of making sure appliance like the kitchen stove is turned off when not in use, your house can still be at risk of a fire. All it takes is bad electrical wiring. Home insurance will allow you to get your house repaired without getting into a financial bind if a fire occurs. Contact the home insurance company of your choice to get coverage that is great for more than just your...

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What Are The Best Ways To Save Money On Car Insurance?

Posted by on 11:10 am in Uncategorized | Comments Off on What Are The Best Ways To Save Money On Car Insurance?

AAA just released a study that shows driving and operating a vehicle is now $8,698 annually. This translates to a cost of approximately $725 per month! You can reduce the cost of operating your vehicle by seeking low-cost auto insurance. The following tips will help you reduce your auto insurance rates and save money every year. Get Some Money in Savings, then Reduce Coverage on Older Vehicles Assuming that your older vehicle isn’t a prized antique that you’ll want to hang on to forever, you’ll probably be replacing your older vehicle sometime in the next few years. If this is the case, then paying for full coverage could be a waste of money. To save on your premium, reduce your insurance coverage to a liability-only policy. Once you start enjoying annual premiums, you can start building up cash in the bank to help, and that will help you buy your next vehicle. Seek Higher Deductibles Higher deductibles lead to lower insurance premiums. If you do switch to a policy with a higher deductible, put the money saved into a savings account until you’ve amassed the amount of money that will equal the cost of your new deductible. This way, if you’re in an accident or if you need to make a claim for another reason, you’ll have that amount on hand. Buy a Car That’s Inexpensive to Insure You’ve probably heard myths in the past about red cars being more expensive to insure, and about the insurance rates on a coupe being higher than the insurance on a sedan. In reality, insurance companies weight these features differently when it comes to setting rates. However, safety features are one type of feature that’s almost certain to make a positive difference in the cost of insurance. Modern safety features are designed to make cars harder to crash and safer to drive. Many insurance companies reward their customers for buying cars with extra safety features by reducing the price of auto insurance. Bundle Auto and Homeowners Insurance Many insurance companies will give a discount to customers who pay for multiple kinds of insurance through their company. Getting your auto insurance bundled with your homeowners or renters will help reduce your costs. For more information about how you can save money on auto insurance, contact your insurance agent to discuss your current policy. He or she can talk to you about other ways that you can save money on your annual premiums. Visit for more...

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4 Tips For Decreasing Auto Insurance Costs If You Have A Teenager

Posted by on 6:39 pm in Uncategorized | Comments Off on 4 Tips For Decreasing Auto Insurance Costs If You Have A Teenager

Keeping the cost of your insurance down can be challenging if you have an inexperienced driver on your policy. However, getting your teenager auto coverage is typically a part of life for most parents. The key to avoiding the high cost of doing so may greatly depend on things you do to help reduce your costs. By knowing specific tips that will reduce your auto insurance bill, this can be extremely helpful to you if you just added another person to your policy that is new to driving. Tip #1: Encourage good grades Of course, you will want your teenager to excel in school to have a better life. However, another reason for you to do so is that you may qualify for up to a 10% reduction in the costs of your coverage if your teenager studies hard. Most insurance companies offer discounts if a B average is consistently maintained by the teenager. Tip #2: Buy a used car It’s no secret that older cars will cost less to insure, but these savings can significantly increase if you have a younger driver on your policy. Doing this one thing may allow you to get simply a basic liability policy rather than a complex, comprehensive one that can cost a lot of money. Additionally, be sure to look for a used vehicle that does has safety features, such as anti-lock brakes and airbags included to keep costs down even more. Tip #3: Increase your deductible Taking the time to talk to your insurance agent about increasing the amount of your deductible is sure to be time well-spent. This is the amount that you must pay before your insurance company renders payment for any claim that you file. However, you will want to have the amount of your deductible on hand if you do have to file an insurance claim.  Tip #4: Enroll in a driving course One of the things that cause insurance rates to be higher for teenagers is the lack of driving experience. It’s ideal to offset this by enrolling this person into a defensive driving course. This may allow you to get a reduction in the amount of your overall premium. You can have insurance rates that are within reason even if you do have a teenager on your policy. Be sure to talk to your local insurance agent like one from Axiom Insurance Agency about additional ways to help you save money on...

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Five Important Things You Can Do To Minimize The Costs Of SR22 Insurance After A Drunk Driving Arrest

Posted by on 2:58 pm in Uncategorized | Comments Off on Five Important Things You Can Do To Minimize The Costs Of SR22 Insurance After A Drunk Driving Arrest

The biggest problem for most individuals who need to get SR22 insurance because of a drunk driving arrest is the additional costs in their monthly premiums.  With a drunk driving arrest in your past, insurance companies look at you as a bigger risk out on the roads. As such, they will not insure you with premiums as low as they were before your arrest. SR22 insurance costs can get out of control if you’re not careful. The following five tips could help you minimize the costs so that you can get back behind the wheel as soon as possible: Consult with a DUI attorney after your arrest Your best bet for alleviating the financial severity of a DUI charge is consulting an experienced DUI attorney for advice. Not only can an attorney help you avoid conviction, but he or she may also be able to offer you advice on upholding your legal requirements for insurance in an affordable manner.  Look into ways you can possibly avoid conviction In some cases, a driver facing a DUI conviction can avoid conviction through performing community service, attending alcohol rehabilitation courses, or arranging for participation in a diversion program.  Diversion programs are a form of sentencing used in criminal justice that permit defendants to avoid conviction. These programs involve a combination of community service, educational programs, and a promise given by the defendant that he or she will avoid certain situations that put them in danger of a future offense.  Don’t get arrested again If you think your SR22 insurance is expensive after one DUI conviction, you should be aware of the fact that your premiums will go up even more if you are charged with multiple DUI offenses.  Carpool to work when possible Some insurance providers will lower premiums if the insurance holder is minimizing his or her use of the vehicle being insured. If you want to have a car available for recreational use but you don’t want your SR22 insurance premiums to be very high, try to minimize everyday use of your vehicle. If you tell your insurance provider that you’re not using your vehicle on a daily basis, you may be able to get lower premiums.  Find insurance discounts you’re eligible for Although the need for SR22 insurance after a DUI charge tends to lead to higher premiums, there are always a variety of different ways a driver can bring down his or her premiums. Some possibilities include participating in a defensive driving course, driving a less expensive vehicle, and seeking a good student discount. Speak to an insurance company like Illinois Automobile Insurance or others to find out what other discounts you may be eligible...

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How Installing Aftermarket Parts On Your Vehicle Will Affect Your Automobile Insurance

Posted by on 9:36 am in Uncategorized | Comments Off on How Installing Aftermarket Parts On Your Vehicle Will Affect Your Automobile Insurance

Partly due to recent trends in automobile customization, and partly due to the wide availability of parts, aftermarket automobile parts are being used more than ever before. In fact, it’s been estimated that up to 80% of auto repair shops are now using aftermarket products. If you’ve been in an accident and your body shop is using aftermarket products on your car, or if you’ve just decided to give your vehicle a little flair, you’re going to need to let your insurance company know about these changes. Why does your insurance company care about aftermarket parts? There are two main reasons: the value of your vehicle, and the vehicle’s safety. The vehicle’s value While installing a new aftermarket part (making an addition to a car) can often increase a car’s value, replacing an original part with an aftermarket part can actually hurt a vehicle’s value. Aftermarket parts are almost always cheaper than the manufacturer’s, meaning that a car with these parts is worth a little less than a car with factory installed parts. If you’ve made an addition to your vehicle or you’ve had parts replaced, let your insurance company know, and this affects the car’s value, which directly affects your insurance premium. The vehicle’s safety Another issue with the use of aftermarket parts is the issue of safety. Advocates of using only original manufacturer’s parts claim that aftermarket parts “aren’t subject to the same crash testing standards as OEM parts, and therefore are not as safe.” In some cases, this may actually be true. For example, adding an aftermarket sunroof is a great way to feel the breeze in your hair, but some insurance companies have claimed that adding a sunroof weakens a car’s structure, and makes damage during a rollover more likely. The Institute for Highway safety however argues though, that aftermarket parts are perfectly fine for cosmetic purposes and that they won’t compromise the safety of the vehicle. Insurance companies often will push for the use of aftermarket parts (because of the price), and may only cover a portion of the cost of original parts. But if the part being replaced is crucial to safety, it’s often best to stick with original parts. Whether an aftermarket part for a vehicle is being added simply to add some excitement to a car, or whether an auto body shop has recommended it, you’ll need to let your auto insurance company know. Adding aftermarket products could affect your rates if you tell your insurance provider, but not telling them could lead to a claim not being...

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3 Mistakes To Avoid When Trying To Save Money On Your Car Insurance

Posted by on 11:02 am in Uncategorized | Comments Off on 3 Mistakes To Avoid When Trying To Save Money On Your Car Insurance

It is generally a rule that you need to carry auto insurance if you own a car. Many people get frustrated with the fact that they need to pay for insurance and do everything that they can to lower their monthly premium. Although saving money is nice in many cases, you should never sacrifice a good policy to save a couple bucks. Here are a couple mistakes to avoid when trying to save money on your auto insurance. 1. Raising Your Deductible One of the simplest ways to save money on your monthly premium is to raise the amount that you pay in your deductible. In some cases this is a wise choice. If you are a safe driver who rarely gets tickets or is in a car accident, then this may be a good choice for you. However, in some situations it may hurt you more in the long run. For example, if you have a teenage driver in your home, you may want to keep the lower deductible. It will only change the amount you pay each month by a small portion, but it could actually save you money in the long run, seeing that younger drivers are more likely to have accidents that require you pay out of pocket to fix the damage. 2. Removing Clauses From Your Insurance Policy Another way to save money is to go through your policy and opt out of certain coverage. For instance, you can remove clauses that help to protect you when renting a car, comprehensive damage, medical expenses and so forth. By removing some of this coverage you will save a couple dollars each month, but you could be in a world of hurt if you are in an accident. Remember insurance is something you hope you never have to use, but if you do, you want good coverage so that you aren’t bankrupt when the time comes. 3. Opting Out Of Liability Coverage Lawsuits happen all the time, which is why it is so important that you protect yourself. If you are in a car accident and are sued by the other individual, it is vital that you have liability coverage. Never take out this clause in order to save a couple bucks. A lawsuit can range from a couple hundred dollars to thousands of dollars. This is why you should always carry liability insurance, especially on your car. By avoiding some of these mistakes you can be sure that you are getting the coverage that you...

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Five Ways To Make Your Current Auto Insurance Cheaper

Posted by on 10:17 am in Uncategorized | Comments Off on Five Ways To Make Your Current Auto Insurance Cheaper

Having auto insurance is a must as a driver. Without auto insurance, not only are you driving illegally on the road, but you are not financially protected if you were to get into an accident. If you currently have auto insurance, but feel that the rate you are paying each month is too high, then you may want to look into these five ways to make the insurance rate a bit cheaper: Add Security Features: Most vehicles already come with security features, such as a car alarm and automatic locks. However, you may want to consider adding additional features that will help protect your car even further. This can ensure that you are provided with a hefty discount on your auto insurance. Consider adding window tinting, which prevents people from easily being able to look in your vehicle to see what you have inside. You can also install a tracking device that will ensure that if your vehicle is stolen, the police can locate it really easily before it potentially becomes wrecked or damaged.  ​Install a Usage Device: Ask your auto insurance provider if they will provide you with a usage device that will track how many miles you tack onto your vehicle. This device will also help your insurance company determine how safely you drive. For example, it can detect how hard you press on the breaks and how fast you drive. If you are a safe driver that doesn’t put many miles on your vehicle, this can be a great way for your insurance company to lower the amount that you pay for your insurance.  ​Always Choose a Yearly Policy: Choosing a yearly policy instead of a 6 month policy is always ideal because it ensures that you are paying less each month and the insurance companies usually provide a bit of a discount for yearly policies. This also ensures that you are paying a fixed rate for a whole year instead of potentially having to pay a higher rate in just 6 months time. Check for Group Discounts: Some insurance companies provide discounts to those who are associated with certain associations, such as credit unions. They may even provide a discount if you have a certain type of credit card.  Make Automatic Payments: Insurance companies would much prefer that their customers set up automatic payments, and because of this, they often provide discounts to customers who do this. This is because it guarantees that they will be getting paid instead of having to wait for you to send a check in the mail or call to make your payment.  By knowing some ways that you can lower your current auto insurance payments, you can make your payments more reasonable, thus ensuring that it isn’t so difficult for you to hold onto this policy each...

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How The Stock Market (And Insurance Market Trends) Affect Your Home Insurance

Posted by on 9:20 am in Uncategorized | Comments Off on How The Stock Market (And Insurance Market Trends) Affect Your Home Insurance

As the stock market rises and falls, you may notice your home insurance rates wildly varying. That’s because there is a strong connection between the stock market and the home insurance market. Understanding how they are connected can help you keep track of your insurance expenses. Thankfully, recent news seems to suggest that trends are looking up. Recent Stock Trends After a month or two of falling stock trends, a recent surge of more than 10% seems to promise the potential of a bullish market. Generally, recoveries of this type create an investor surge that helps to positively rally the market. In spite of this rally, positive stock market sentiment is still relatively low. Sentiment indicates how investors are regarding the market and it rests at 37.5%. While this is a positive rate, it’s still about half what you see in a strong rally. In spite of this low sentiment, positive market gains are still present and are projected to move upward. Recent Outlook On The Home Insurance Market As the stock market rebounds, the outlook for the home insurance market continues to improve. A recent report at indicates that the home insurance market has vastly improved over the last several months, including an average 8.6 percent increase in equity across the country. This improvement has been generated by a rate increase of about 4.0 percent across the nation. Another improvement leading to these increases is more precise risk-adjustment pricing, which lets insurers create more finely tuned insurance plans. How This Affects You Both of these trends bode well for your home insurance rates and your level of coverage. Generally speaking, insurance rates are inversely proportional to the direction of the stock market. This means that if stock prices go up, insurance rates go down. That’s because insurance companies invest much of their money in stocks and bonds: when the rates go up, they can afford to offer their customers discounted rates. An improved home insurance market can also result in stronger home insurance coverage. Though you may pay slightly higher rates, a stronger insurance market generates a decreased chance of reinsurance. Reinsurance is the process of transferring certain portions of your insurance coverage to other parties. Insurance companies do this to decrease the risk of paying large payouts. A strong market reduces the need for insurance companies to divide your coverage in this way, which streamlines and simplifies your coverage. Now that you have a better understanding of these two forces, you can better plan your home insurance payments. It may also help you choose a stronger home insurance company, as specific companies will fare better (or worse) in the highly variable stock market. To learn more about home insurance, contact a company like Trent Insurance Group...

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How To Keep Your Home Insurance Premium Low And Affordable

Posted by on 5:17 am in Uncategorized | Comments Off on How To Keep Your Home Insurance Premium Low And Affordable

When trimming your household’s budget, one of the best places to start is with your insurance premiums. You shouldn’t have to watch your premiums increase every single year, because there are things you can do about it. Here are 4 ways to get the best deal on your homeowners insurance. Bundle All Your Insurance Products Having multiple insurance policies with one company is a way to lower your premiums, because you typically get a discount for doing so. The individual policies may be slightly more expensive, but the discount could be what makes them cheaper overall. While automotive and homeowners insurance are frequently combined for a discount, other insurance policies can increase your savings as well. For example, if you are considering getting a life insurance police, check with your agent to see if you will see any savings if you get one through the same company as your homeowners insurance. Increase Your Deductible When you file a claim with your insurance company, you must first pay your deductible. This can be anywhere from $500 to 1% of the value of your home, depending on what your insurance company offers. The less you pay when filing a claim, the higher your premiums are each year. Consider upping the deductible, and if you go claim free for several years, you will come out ahead in savings even if you do need to make a claim with the higher deductible. The key to making this change is having the money on hand for the increased deductible. If you have a 1% deductible on a $300,000 home, make sure you have that $3,000 deductible stashed away in an emergency fund for if you need it one day. Evaluate Your Coverage Your initial home insurance policy was based on the items you had in your home at the time you bought your policy. Things most likely have changed since then, and updating the status of your home can lower your risk and how much you pay. For example, a dog can actually increase your premiums because of the risk they pose to others with a potential dog bite. If you no longer have a dog, update your police to receive a slight discount. Your new windows may be more resistant to hurricanes and strong winds, which make your home less likely to be damaged and eligible for a cheaper premium. Maintain Good Credit                                                                                         Credit history actually plays a big role in how much you pay for insurance. A recent study has shown that homeowners with poor credit pay 91% more than homeowners with great credit. Having poor credit shows that you are unable to pay your bills and are a greater risk to insurance companies. Following these tips are a sure way to see savings with lower insurance premiums. For more information, talk to a professional like Gateway...

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