Cut costs and save money on car insurance

Posted on 22.05.2020Categories Insurance   Leave a comment on Cut costs and save money on car insurance

We all know that you can save on your car insurance by only buying cars that insurance companies love – but, there are ways that you can save on your premiums no matter what car you’re driving.

— in some circumstances. Raising deductibles on collision and comprehensive coverage can save you up to 20 percent on policy premiums.

venbsp;older cars. > ily cars is, say, 5 or more years old and you’re still carrying collision on it, you may be paying for coverage you don’t need. Consider dropping collision and even comprehensive coverage on vehicles worth only a few thousand dollars. If the car is in an accident or stolen, your insurance company won’t pay more than the book value, anyway, no matter how much you might think it’s worth. Check one of the used-car price guides for an idea of what your car is worth. If your insurance agent doesn’t have such a guide, you can find many online.

feyou’re retired and 55 or over. Some also carry a senior adult discount–an additional saving if you’re over 65.

Ybuith:

  • Airk nti-theft devices
  • On self-activated alarm systems, you generally get a 10 percent discount, and on others, 5 percent.

If you l ceowner policy along with your car insurance, you can get an additional discount, often 5 percent on each policy.

Pernsent-free” or “careful driver” discount if you’ve had a clean driving record for a certain number of years–usually three to five, depending on the company. You’ll save roughly 5 percent.

Sure, style, feat be of a new car. But you’ll also want to compare safety features and the effect on your insurance premiums as well. If you don’t, you could be paying a lot more than you’d planned long after you’ve handed over the purchase price.

How the car yong>

Most insurance companies haraased on the company’s assessment of what different types of cars cost to repair and which are likely to attract thieves. If the car you choose devours money when it comes to repairs and asks to be stolen, expect to pay higher insurance premiums.

If you have any tips of your in– /wp:paragraph –>

Should You Switch Policies?

Posted on 22.05.202022.05.2020Categories Insurance   Leave a comment on Should You Switch Policies?

Should you drop your present insurance and buy a cheaper kind or one of the newer types of coverage? That’s a proposal an insurance agent may make to you, but the odds are it wouldn’t be a change for the better. Still, you ought to investigate. A significant number of policyholders do benefit from changing or updating their coverage.

hole life policies being replaced with other types of life insurance has evoked concern inside and outside the insurance industry. High-pressure selling, misrepresentative policy terms and failure to provide consumers with comprehensible policy comparisons are said to be fairly common.

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“Most of those who are induced to give up their old dividend-paying policies in favor of new ones suffer serious financial harm,” 

NIera “participating” policy–one that pays dividends–keep it. If it’s nonparticipating, replace it. There are exceptions. For example, if you have several small dividend-paying policies, it might be better to replace them for the sake of efficiency.

Most policiensto increase them for several reasons. High-tech modernization has lowered their operating costs. Their policyholders are living longer, so they are paying proportionally less in claims. And higher interest rates are giving them better yields from the money they invest. An industry index based on fairly typical policies sold by selected companies shows consumers are paying 32% less for whole life, on the average, than in 1960.

A policy thaidght several years ago would not necessarily be a better deal. You’ve already paid the sales and underwriting costs for the old policy; most of the premium money for the first year or two went for that. You’d have to pay those charges all over again for a new policy, so there would be no cash buildup for a while.

On the od eous. Examples:

  • If the cash buile substantially greater and would begin reasonably soon;
  • If you want more protection than an existing whole life policy provides but wish to minimize your premium costs (to pay the premiums on term insurance, you could borrow against the whole life cash value, usually at below-market rates, or withdraw the money and make income-producing investments);
  • If you have term insurance and find you can get it for less from another company, along with comparable renew-ability and conversation guarantees.

Before Youtcg –>

If you have an old, mpany whether it has un update or exchange program or is planning one. A small but growing number of insurers will sweeten or replace existing policies at little or no cost to the holder.

These saounge:

  • Be wary of any agewhttles your present insurance without demonstrating convincingly that his or hers is better.
  • Avoid agents with little experience.
  • Show any proposal you receive to the agent who sold you your present policy. Your agent will be only too happy to point out any flaws or discrepancies in the proposed policy.
  • Make sure any new policy will take effect before your old one expires.
  • Insist on a written replacement illustration showing where you would stand with each policy at various times in the future, and ask the agent to sign it and also to state in writing that the change will benefit you. (About 40 states have specific regulations governing replacements, and 13 of those require insurers to provide comparison statements. The insurance department can tell you about the legal situation in your state.).
  • Ask how much you’ll have to pay for the acquisition costs.
  • See how the loan rate compares with the policy you have.
  • Find out when the next dividend will be paid if you have participating whole life. It may be smart to wait until after that if you decide switching makes sense.

If you want to check on anysk at your library for Best’s Insurance Reports, an annual publication that profiles about 1,800 life insurance companies and rates them according to financial strenth. It also gives information on their management and product lines. Best’s Flitcraft Compend, which an insurance agent can show you, has descriptions, rates, dividend scales, cash values and other data about some 300 companies.

Insurance rates – Easy ways to pay much less

Posted on 22.05.2020Categories Insurance   Leave a comment on Insurance rates – Easy ways to pay much less

These days, you may feel as if you’re paying more to insure your house and car than it cost to buy them. Premiums are expected to jump by the end of 2013, and some people could face double-digit hikes. How to keep your costs down? First, when a policy comes up for renewal, don’t just re-sign; shop for a better deal. Second, pay bills annually if you can; it’s often cheaper than paying monthly or quarterly. There are also specific strategies for each of your policies:

How to Free Yourself Financially How to Free Yourself Financially

Posted on 22.05.2020Categories Latest Posts   Leave a comment on How to Free Yourself Financially How to Free Yourself Financially

For years, you’ve been telling yourself you’d stick to a budget, pay off your debts and free yourself from financial worry.

<":w) Your Means. growth begins with a change in lifestyle. “Many people can be publicly successful and privately complete failures,” says T.D. Jakes, author of The Great Investment. “Many people spend hundreds of dollars on the latest imported suit and fine-skin shoes, only to struggle to scrape together the money needed to keep the lights from being cut off or the eviction notice from being delivered.” Living within or below your means, therefore, means taking an honest evaluation of your resources and living within the parameters of those financial boundaries.

Creating a f len overnight, but with time, discipline and a commitment to change, you can see the beginning of a wealthier you.

Get Out Of Debt – Fast

Posted on 22.05.202022.05.2020Categories Latest Posts   Leave a comment on Get Out Of Debt – Fast

Financial planners often say it takes pain to prick people into action. So what do you do when you max out on your credit and suddenly realize you’re in trouble?

You can dig out of debt faster than you think, if you attack it in an organized way. Here’s a seven-step rehabilitation program:

List Each of Your Loans

To maryyou have to use cards for business purposes, deduct each expenditure from your check register – just as if you had written a check – and pay the full debt at the end of each month.

Of coursedurk unless your overall spending is under control. When discussing budget matters with your spouse, neither of you should propose a spending cut for the other, advises planner Faye Kathryn Doria in Rochester, NH. Instead, match each other’s offers. If you agree to save, say, £25 a week on clothes, your husband should find a specific £25 he can cut from his personal budget. Get your children to stop asking for stuff, not by scaring them into thinking you’re broke but by talking about the value of improving your financial position.

For hard-core s a your credit cards in a block of ice. Then, when you get desperate and you’re standing at the sink running hot water over the block, you’ll have plenty of time to reflect on your financial priorities.