Paying your premium yearly will get you lower rates than opting for monthly payments. The ads may show that monthly paymenst are easy but what you don't know is how much extra you pay for this..
Each check that is processed attracts a charge. .While annual payment attracts just one check and therefore one transaction per year, monthly payments attrract twelve. This implies that you will pay transaction charges 12 times..
Besides there are also administrative costs that come with the monthly payment option. For example, it monetrily involed to send payment notices monthly.
These and more are then added to your premium thereby making it higher than if you paid every year.
The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.
Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. These are all incentives for you to stay with them for as long as possible. The longer you stay, the more you'll save.
Just bear in mind that some people will be better off if they switched to another insurer notwithstanding the many discounts given to long term policy holders.
If you want to keep your rates down, do NOT "pimp your ride." If you want to impress your friends with those extra special features like bigger types than the manufacturer's specification, then be prepared to pay a lot more. Any changes to your vehicle takes your rates up.
Get Your Free Auto Insurance Quotes Now And Save!
Young drivers are statistically very bad risks. Worse still, if they are teenagers their auto insurance rates could be really high.
Therefore, as much as possible, do not place such a driver on your own policy. It will drive it up by a huge margin. You can discuss with your agent about signing an exclusion form so that your teen driver can have his/her own auto policy.
It's a fair price for them to pay to enjoy the adult privilege of driving. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.
There are useful extras and there are those that do nothing but just inflate your rate. A good example of the later is adding a towing service to your policy. By the way, your credit card might already offer this as a benefit so check.
Even if yours does NOT add this kind of service, a dedicated towing service from a third party will serve you better and save you more than adding towing to your auto insurance policy.
And...
You will save a lot of dollars by visiting not less than 5 quotes sites. That way, you'll increase your chances of getting the lowest quotes available because five sites will give up to 25 quotes altogether.
Each check that is processed attracts a charge. .While annual payment attracts just one check and therefore one transaction per year, monthly payments attrract twelve. This implies that you will pay transaction charges 12 times..
Besides there are also administrative costs that come with the monthly payment option. For example, it monetrily involed to send payment notices monthly.
These and more are then added to your premium thereby making it higher than if you paid every year.
The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.
Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. These are all incentives for you to stay with them for as long as possible. The longer you stay, the more you'll save.
Just bear in mind that some people will be better off if they switched to another insurer notwithstanding the many discounts given to long term policy holders.
If you want to keep your rates down, do NOT "pimp your ride." If you want to impress your friends with those extra special features like bigger types than the manufacturer's specification, then be prepared to pay a lot more. Any changes to your vehicle takes your rates up.
Get Your Free Auto Insurance Quotes Now And Save!
Young drivers are statistically very bad risks. Worse still, if they are teenagers their auto insurance rates could be really high.
Therefore, as much as possible, do not place such a driver on your own policy. It will drive it up by a huge margin. You can discuss with your agent about signing an exclusion form so that your teen driver can have his/her own auto policy.
It's a fair price for them to pay to enjoy the adult privilege of driving. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.
There are useful extras and there are those that do nothing but just inflate your rate. A good example of the later is adding a towing service to your policy. By the way, your credit card might already offer this as a benefit so check.
Even if yours does NOT add this kind of service, a dedicated towing service from a third party will serve you better and save you more than adding towing to your auto insurance policy.
And...
You will save a lot of dollars by visiting not less than 5 quotes sites. That way, you'll increase your chances of getting the lowest quotes available because five sites will give up to 25 quotes altogether.
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