Ways to keep your auto insurance rates down
Is you car insurance too high? Do you want to reduce this to a more manageable level? Car insurance is like any ongoing cost, it is a drain on your resources and it can be important to reduce this outgoing. However with some care some realistic savings can be made.
Firstly, make sure your insurance company or broker has sufficient information about you and the car you drive.
There are many things you can tell your insurance company that will reduce the rate for your car insurance. Most insurance companies will have a base price, which is set by using variables based upon statistics and the risk of accident within those statistics. Any extra information you can give them give will tip the balance regarding those statistics making your quotation more personal and appropriate for your circumstances.
Make sure they know your age as car insurance is certainly cheaper for the more senior driver. If you use the same insurance company all the time get your details updated as they change as this can impact upon the cost of your insurance. A change of address may reduce your costs as one statistic that is used is the risk by the area in which you live. If you move you may be happily surprised to find that this move has also reduced your car insurance costs. If your mileage requirements change and drop to below 5000 miles it may be that you can adjust your insurance policy to reflect this and make a saving.
There are other things you can do to bring that price down too. For instance, find out what car alarm systems are recognised by insurance companies, as often the base insurance price is discounted if you have an approved alarm fitted. If you car is garaged, make sure the insurers know this and it may be worth while looking at garage rental prices as renting a garage may reduce your car insurance by more than the garage rental price. This is particularly true for young drivers who suffer extremely large insurance quotations due to their age.
Another area that can bring down your insurance costs is to look for specific vehicle type insurers. Such insurers or brokers specialise in a make or type of vehicle and can therefore provide more beneficial quotations. For example, if you drive a 4×4 or SUV, a general vehicle insurer may not give you the best quotation possible as they know little about these vehicles and they see a higher risk. By going to a specialist insurer they will understand the risk, even if your vehicle is modified, and quote accordingly.
In addition, some specialist insurers or insurance brokers are able to give cover where a general insurer cannot. For events and shows for example. Some even give additional discounts if you do participate in such things. Some will give you discounts for club memberships as well.
While on the subject of car clubs, some insurers provide heavily discounted insurance to various car clubs and their members and in return are advertised on that particular club website. This is a great way to get cheaper insurance and I recommend it.
However, the best way to get your car insurance reduced is to not have an accident. This means you can accumulate a no claims bonus which can reduce your car insurance considerably. This means careful and safe driving and making sure your vehicle is well maintained and is safe to be on the road.
Written by MikeMcCarthy
Adjusters work for insurance companies, not you. You’d be surprised to find what’s really going on behind the scenes. Jason Lundberg of Allegiance Law is different from other attorneys in the San Francisco Bay Area that work in the areas of personal injury and employment law. While many personal injury law firms in San Francisco view your case as a dollar sign, we strive to take a compassionate and sympathetic view of your personal injury claim or employment lawsuit. We will be your advocate in this very stressful time. Our lawyers practice in most areas of personal injury law, including automobile accidents, motorcycle accidents, bicycle accidents, pedestrian accidents, and dog bites. We also handle all conceivable employment law claims, including labor code violations, wrongful termination and harassment.
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Question by bumfuzzled: how do auto insurance adjusters determine the value of a totalled auto ?
do they use NADA Blue Book ? Do they give retail values or trade in values ?
Best answer:
Answer by Cooljerk
they use the blue book to determine street retail value, they then estimate the amount of money (labor) to return the car to it’s pre-accident state.
Add your own answer in the comments!
Auto, down, Insurance, keep, Rates, Ways
Um, no, they don’t use Kelly Blue Book– that is a dealer pricing tool. In other words, “sticker” price. (Read the disclaimer!) Does anyone actually pay sticker?! No, unless they have money to burn!
They use actual cash value– this can be determined with the help of NADA regional editions, or with market search tools. The mileage and condition of the vehicle “pre-loss” matter a great deal.
I don’t know what they use but when my car got totalled (not my fault) I basically got close to the retail amount listed in the Kelly Blue Book. I had a 14 year old car and I got about $ 1300. Maybe I was just lucky.
The ‘value’ of anything is only what the buying public will pay for it. Insurers use NADA, Kelly, ADP, etc as a guide. Often they do market research, (check local listings for similar vehicles) and check used car lots. This combined with options, condition and mileage will add or subtract from the bottom line value. Many times I deal with people that have made heavy modifications to cars such as body kits, suspensions modifications, custom paint, etc. They are floored when I inform them they have NOT increased the value of their car, rather, they have effectively narrowed the market for their car by doing this and usually the value is lowered.