THURSDAY, MAY 26, 2011
Many insurance companies provide discounts for both your home and auto insurance under the same provider. Discounts also are available for other insurance policies such as boat, RV, motorcycle, golf carts, etc. Multi-policy discounts are a great way to save on overall premiums.
If an insurance deductible is low, the cutsomer may be paying too much. A simple trick is to have an agent provide a price for a $500 and a $1,000 deductible. Customers probably will be surprised at how this small change can affect your annual premium.
Companies reward consumers with a variety of discounts. Be sure to ask if any of these apply:
° Teen drivers with good grades
° College student away from home with no car
° Safe driver discounts
° Vehicle safety ratings
° Anti-theft devices
° Low vehicle mileage per year — carpool?
° Good credit
° Advanced shopping discount, shopping ahead of when a policy expires
° Paying in full or automatic payments via EFT or credit cars
° Hybrid car discounts
With an older vehicle that isn't worth a lot, it may not make sense to pay extra for collision or comprehensive insurance.
If disability insurance already has been purtchased, savings could be realized by eliminating medical payments coverage as part of an auto insurance policy.
Umbrella policies provide an extra cushion of insurance protection. It covers damage claims caused by you or your dependents. This policy kicks in when auto or homeowners policies reach their limit.
Let's say a payment of $700,000 is required from an auto accident. If an auto insurance policy has a liability limit of $300,000, a $1 million umbrella policy will cover the remaining damages. In today's society, lawsuits and large jury verdicts are not uncommon. This inexpensive policy can be well worth the cost.
Posted 5:50 PM