Info Incurance

One of MSN Money’s recent posts talked of auto insurance bills and its role in your ballooning expenses. Indeed, as we all go through our monthly bills and must-pays to see what we could trim down, we often skip our auto insurance premium believing there is nothing we can do from our end to change that multiple-digit figure we try to keep up with month-by-month.

Apart from not having much time to review your auto insurance policy, trying to comprehend all the confusing insurance terminologies could be very daunting for most vehicle owners. Until you’ll find out how much you can take out of your insurance bills with minimal effort, only you start putting in effort to review your policy.
Here’s a few quick steps that will help you save a bit (or perhaps more than you’ll expect) from your monthly premium:

Revise your Coverage. If your car is older than 10 years, think about dropping the collision and/or comprehensive coverage. Its low market value is not worth the coverage you have at present. Any claim you might make probably won’t exceed the cost of the insurance and the deductible amount.
In revising your coverage, you may consider eliminating towing and rental reimbursement costs if your car is new and still have an extended warranty that already covers these areas. If you are covered with health insurance, you probably can take out the medical coverage added on your premium. As you are most familiar on how the car is mostly used, you can make adjustments on the personal injury protection (PIP) like, let’s say, you only take very short drives.

Request for Higher Deductibles. The deductible is the amount of money you have to fork over before your insurance policy comes to the rescue. Raising deductibles might include deductible on comprehensive coverage, for example if windshield chipping and cracking and/or natural disasters are not a problem in the driver’s local area. You can raise your deductibles on collision coverage, for example from $200 to $500, or raise your deductible for uninsured/underinsured motorist bodily injury coverage.

Combine all your policies with one Insurance Provider. You may save money if you insure all your vehicles, including trailers and recreational vehicles, on a single policy. Your car premium also may go down if you buy homeowners’ or life insurance from the same company.
Drivers can also receive auto insurance discounts for the type of car they choose to drive. For example, cars with safety features such as daytime running lights, side curtain airbags, and/or anti-lock brakes may receive a discount on auto insurance. Ask about any other discount you are qualified to avail. Call a few other insurers to make sure you’re paying the lowest overall amount.
Your credit history may affect your car insurance rates, so here’s another great reward for Maintaining Good Credit. Use of credit scores in setting car insurance prices varies with every state and insurance company, but records show that drivers with good credit records tend to make fewer insurance claims, thus are offered lower rates. Auto insurance companies may also factor in accident history and theft loss statistics of the driver’s car when calculating auto insurance rates.
For many vehicle owners, auto insurance and that’s in it can be intimidating and confusing. But taking the time to study how to revise your coverage and deductibles can save significant amounts of money. But don’t let your quest for bargain end you up dealing with substandard companies. Make sure you go with a company that has a good credit rating with a rating service.

Source : Auto

decline the offer.  If he accepts the offer, he can have the renewed life insurance without taking the medical examination.  If the policy holder declines the offer, he can still get a new life insurance of his own choice but he has to undergo all the normal application procedures to get his approval.  Normally, those policy holders who decline the offer do not want to pay a higher type of life insurance.  They will stick to the cheaper types with lower costs.