Auto Insurance
1. You can save several hundred dollars a year by purchasing auto insurance from a licensed, low-price insurer. Call your state insurance department for a publication showing typical prices charged by different companies. Then call at least four of the lowest-priced, licensed insurers to learn what they would charge you for the same coverage.
2. Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverage to at least $500 or, if you have an old car, dropping this coverage altogether. Taking these steps can save you hundreds of dollars a year.
3. Make certain that your new policy is in effect before dropping your old one.
Homeowner/Renter Insurance
1. You can save several hundred dollars a year on homeowner insurance and up to $50 a year on renter insurance by purchasing insurance from a low-price, licensed insurer. Ask your state insurance department for a publication showing typical prices charged by different licensed companies. Then call at least four of the lowest priced insurers to learn what they would charge you. If such a publication is not available, it is even more important to call at least four insurers for price quotes.
2. Make certain you purchase enough coverage to replace the house and its contents. "Replacement" on the house means rebuilding to its current condition.
3. Make certain your new policy is in effect before dropping your old one.
Life Insurance
1. If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.
2. If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.
Tuesday, December 4, 2007
How to decrease your Auto Insurance price
1. Shop Around:
When looking for a new policy, get at least three quotes. And if you really want to save, gather several more than that. Rates for comparable coverage can vary by more than $1000 for one year worth of coverage.
2. Get All Available Discounts
Discounts can vary widely by company as well as by state.
3. Increase Your Deductible
Your deductible is the amount you'll pay out of pocket when making a claim before your insurance starts picking up the tab. Increasing your deductible from, say, $200 to $500 could reduce your premium by 15% to 30%.
4. Drive less
If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible.
5. Make sure Your Credit Report is clean
Like it or not, your credit report can affect whether a company is willing to insure you and at what rate.
6. Don't use your car for business purposes
Work related driving generally subjects you to higher premiums than pleasure driving.
6. Get the Right Car (Low profile one)
If you're in the market for a new car, keep in mind those with the highest theft rates and repair costs will cost more to insure. So if you're debating between two models, it may be worthwhile to give your insurance agent a call to see if there is a notable difference in the insurance costs. Cars are rated on a risk scale for auto insurance purposes. Sports cars and other high-performance are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly.
7. Inquire about multifamily discounts
You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's).
8. Drop Some Coverage
If you have an older car, one that's worth less than 8 times the amount you'd pay for coverage; you may want to consider dropping collision and comprehensive coverage.
9. Park your car in a garage
Cars parked in garages are less likely to be stolen or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.
10. Have safety/anti-theft devices installed
If your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems may also get you a discount.
11. Drive more safely
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period. A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period.
When looking for a new policy, get at least three quotes. And if you really want to save, gather several more than that. Rates for comparable coverage can vary by more than $1000 for one year worth of coverage.
2. Get All Available Discounts
Discounts can vary widely by company as well as by state.
3. Increase Your Deductible
Your deductible is the amount you'll pay out of pocket when making a claim before your insurance starts picking up the tab. Increasing your deductible from, say, $200 to $500 could reduce your premium by 15% to 30%.
4. Drive less
If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible.
5. Make sure Your Credit Report is clean
Like it or not, your credit report can affect whether a company is willing to insure you and at what rate.
6. Don't use your car for business purposes
Work related driving generally subjects you to higher premiums than pleasure driving.
6. Get the Right Car (Low profile one)
If you're in the market for a new car, keep in mind those with the highest theft rates and repair costs will cost more to insure. So if you're debating between two models, it may be worthwhile to give your insurance agent a call to see if there is a notable difference in the insurance costs. Cars are rated on a risk scale for auto insurance purposes. Sports cars and other high-performance are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly.
7. Inquire about multifamily discounts
You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's).
8. Drop Some Coverage
If you have an older car, one that's worth less than 8 times the amount you'd pay for coverage; you may want to consider dropping collision and comprehensive coverage.
9. Park your car in a garage
Cars parked in garages are less likely to be stolen or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.
10. Have safety/anti-theft devices installed
If your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems may also get you a discount.
11. Drive more safely
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period. A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period.
Automobiles Insurence Tips
If knowledge is power, in that case when you`ve went over this top cheapest car insurence article, you will be feeling similar to Mighty Man when this subject is brought up in casual conversation.
Driving an automobile is a pleasure which many of us presume. Nonetheless, what happens if you meet an accident? That`s where your vehicle assurance on-line policy plays its role. Getting an adequate amount of insurance is a safety net, and provides a driver peace of mind, having known that should an emergency crop up, they`re prepared. Ahead of calling an insurance representative, it`s prudent to understand the basic principles of purchasing a online car assurance policy plan.
In simple words, an internet car insurance policy plan is a contract involving yourself, the first party, and an insurance providing firm, the second party. The other driver is the third party. Within USA, 45 states want a minimum amount of coverage, mostly liability (or "third party") coverage that bears hospital expenditures (bodily injury) and also property damage to others, in case you are at fault in an accident. It also covers your legal expenditures.
The first thing to keep in mind is finding out the minimum liability coverage needed in the state you stay. Then it is time to collect some information: what is the minimum on line car coverage would you purchase greater than the minimum, and also up to what level can you afford? Get a rough idea of the price of the policy by looking for a few quotes in the website. When you evaluate the various rates, contact a coverage firm which seems better. The coverage firm will then appoint a representative for you.
Do not forget, your agent always available to assist you, hence feel free to know regarding your policy. The agent is there to inform you about various kinds of insurance policies which is required for you, and also provide further choices. They will give details the insurance premium, or complete cost of the coverage policy, as well as the deductible, which is the cash you may need to pay from your pocket before the insurance company starts paying your claim. Do not forget, the more your deductible, the lower the insurance rate, and vice versa. Bear in mind that many of the larger coverage firms also offer residential, life as well as renter`s insurance, thus, you might get a reduced on line automobiles coverage price if you combine it together with other policy.
There are several factors that will decide the car ins premium amount:
• How old are you? Motorists under twenty five years have a higher risk of being in a collision which may increase the insurance premium, on the other hand, drivers who is over 50 years of age, who take training classes could get a discount.
• How is your own driving history? Collisions, speeding tickets as well as drunken driving offenses might put you in a high risk motorist that raises the price of your autos coverages on line policy.
• Whom do you want to be covered along with you? You may add your life partner or someone else to your insurance plan but the price will move up depending on the individuals driving history. Including a teenager on to your coverage plan might determine the price. Additionally, the regulations regarding the persons who can operate your vehicle vary from one coverage company to another coverage company.
• How often do you drive your car? The insurance company would like to know about how frequently your motor-vehicle is used. The insurance company may also enquire how many miles the roundtrip involves, to calculate how much mileage yearly you put on the motor vehicle.
• What is the make and model of automobile do you use? A less-priced motor car will assist to convert your rate affordable, as it is less likely to be stolen.
The range of coverage will be referred to numerically, for example 20/40/10. This stands for a policy of Twenty thousand dollars maximum bodily injury liability per person, 40,000 dollars maximum physical injury liability per accident, and 10,000 dollars with a maximum limit towards liability for property damage for each collision. You may go for higher maximums, but you ought to procure not less than the minimum amount of coverage obligatory by the state law.
Remember, if you cause a collision and the person you hit registers a case against you in the court, then you will be protected as per the law only up to the limits of your autos insurance policy plan. In most states, motor drivers are permitted to file a complaint in the court against other motor drivers causing injury in car collisions, therefore the possessions could be at risk. If you own a house or have a large savings account, you could think of taking liability insurance more than the minimum amount required by your state.
The next decision by you will be towards complete and collision coverage. Usually, in case you finance your car or lease one, your financing company will need you to carry comprehensive coverage. Comprehensive coverage recompenses losses to your motor vehicle caused by unlikely events such as theft or natural disasters. Collision coverage will cover damage to your car from the other driver and offer you coverage against damage if you collide with objects like an auto, wall or fencing. To end with, you have to decide whether you want to have uninsured motorist coverage that will cover if an uninsured vehicle driver collides with you or you are the victim of a hit and run.
Inquiring info? Check out by going to the following web pages:
Descriptive Cheapest Car Insurence Prices review
Cheapest Car Insurence Best
Cheap Motor Insurance Rate: Cheap Cheapest Car Insurence chief details
Comparing Car Insurance Rates
Low Cheapest Car Insurence
refer folks you know hot on the "top cheapest car insurence" business to this piece of writing, which numerous readers considered to be a really helpful introduction, in particular folks who don`t comprehend all that much about the goings-on of top cheapest car insurence.
Driving an automobile is a pleasure which many of us presume. Nonetheless, what happens if you meet an accident? That`s where your vehicle assurance on-line policy plays its role. Getting an adequate amount of insurance is a safety net, and provides a driver peace of mind, having known that should an emergency crop up, they`re prepared. Ahead of calling an insurance representative, it`s prudent to understand the basic principles of purchasing a online car assurance policy plan.
In simple words, an internet car insurance policy plan is a contract involving yourself, the first party, and an insurance providing firm, the second party. The other driver is the third party. Within USA, 45 states want a minimum amount of coverage, mostly liability (or "third party") coverage that bears hospital expenditures (bodily injury) and also property damage to others, in case you are at fault in an accident. It also covers your legal expenditures.
The first thing to keep in mind is finding out the minimum liability coverage needed in the state you stay. Then it is time to collect some information: what is the minimum on line car coverage would you purchase greater than the minimum, and also up to what level can you afford? Get a rough idea of the price of the policy by looking for a few quotes in the website. When you evaluate the various rates, contact a coverage firm which seems better. The coverage firm will then appoint a representative for you.
Do not forget, your agent always available to assist you, hence feel free to know regarding your policy. The agent is there to inform you about various kinds of insurance policies which is required for you, and also provide further choices. They will give details the insurance premium, or complete cost of the coverage policy, as well as the deductible, which is the cash you may need to pay from your pocket before the insurance company starts paying your claim. Do not forget, the more your deductible, the lower the insurance rate, and vice versa. Bear in mind that many of the larger coverage firms also offer residential, life as well as renter`s insurance, thus, you might get a reduced on line automobiles coverage price if you combine it together with other policy.
There are several factors that will decide the car ins premium amount:
• How old are you? Motorists under twenty five years have a higher risk of being in a collision which may increase the insurance premium, on the other hand, drivers who is over 50 years of age, who take training classes could get a discount.
• How is your own driving history? Collisions, speeding tickets as well as drunken driving offenses might put you in a high risk motorist that raises the price of your autos coverages on line policy.
• Whom do you want to be covered along with you? You may add your life partner or someone else to your insurance plan but the price will move up depending on the individuals driving history. Including a teenager on to your coverage plan might determine the price. Additionally, the regulations regarding the persons who can operate your vehicle vary from one coverage company to another coverage company.
• How often do you drive your car? The insurance company would like to know about how frequently your motor-vehicle is used. The insurance company may also enquire how many miles the roundtrip involves, to calculate how much mileage yearly you put on the motor vehicle.
• What is the make and model of automobile do you use? A less-priced motor car will assist to convert your rate affordable, as it is less likely to be stolen.
The range of coverage will be referred to numerically, for example 20/40/10. This stands for a policy of Twenty thousand dollars maximum bodily injury liability per person, 40,000 dollars maximum physical injury liability per accident, and 10,000 dollars with a maximum limit towards liability for property damage for each collision. You may go for higher maximums, but you ought to procure not less than the minimum amount of coverage obligatory by the state law.
Remember, if you cause a collision and the person you hit registers a case against you in the court, then you will be protected as per the law only up to the limits of your autos insurance policy plan. In most states, motor drivers are permitted to file a complaint in the court against other motor drivers causing injury in car collisions, therefore the possessions could be at risk. If you own a house or have a large savings account, you could think of taking liability insurance more than the minimum amount required by your state.
The next decision by you will be towards complete and collision coverage. Usually, in case you finance your car or lease one, your financing company will need you to carry comprehensive coverage. Comprehensive coverage recompenses losses to your motor vehicle caused by unlikely events such as theft or natural disasters. Collision coverage will cover damage to your car from the other driver and offer you coverage against damage if you collide with objects like an auto, wall or fencing. To end with, you have to decide whether you want to have uninsured motorist coverage that will cover if an uninsured vehicle driver collides with you or you are the victim of a hit and run.
Inquiring info? Check out by going to the following web pages:
Descriptive Cheapest Car Insurence Prices review
Cheapest Car Insurence Best
Cheap Motor Insurance Rate: Cheap Cheapest Car Insurence chief details
Comparing Car Insurance Rates
Low Cheapest Car Insurence
refer folks you know hot on the "top cheapest car insurence" business to this piece of writing, which numerous readers considered to be a really helpful introduction, in particular folks who don`t comprehend all that much about the goings-on of top cheapest car insurence.
Thursday, November 15, 2007
How much coverage do you need?
Liability Coverage Limits:
No one can predict exactly how much you would have to pay if you were to cause an accident. Ask yourself how you would pay for any damages exceeding your coverage limits. The higher your limits are, the more likely your policy will be able to pay all of the damages.
Bodily Injury liability
How much coverage you need is a function of the assets you'd like to protect. If you make $30k a year and don't own a home, $50k/$100k should be sufficient. However If you make more than $75k, own a house valued at more than $150k, and have $40k in mutual funds you should consider coverage limits of at least $100k/$300k
How much you'll pay to increase your bodily injury liability coverage depends on several factors, including your age, marital status and driving record. It also depends on where you live. For example, In New York City, where the frequency of bodily injury is higher than in most cities, this coverage would cost significantly more than if you lived in Rochester, NY.
Personal Damage Liability
This coverage will pay for the repair and replacement of the other guy's car or property in the event of an accident. State-required minimums are as low as $5,000, but if you total somebody's Lexus, that won't begin to cover the damage.
You're better off with a minimum of $50,000 for each vehicle you own. And to be truly safe, you should have a total of $100,000 coverage.
Personal Injury Protection
This is definitely one coverage you can skimp on. PIP coverage pays for the medical and funeral costs associated with an accident for you and your family ? regardless of whose fault it was. But if you a lready have separate health, life and disability policies, you can probably forgo this one altogether. Check those policies first, but chances are those sort of expenses are covered under another policy you already own.
Uninsured or Underinsured Motorist
This coverage pays for medical and funeral costs for you and your family in the event you get in an accident with either a hit-and-run driver or a driver who doesn't have enough auto insurance. These policies usually cover bike and pedestrian accidents, too. Given the prevalence of uninsured drivers nationally, this coverage is essential. On average, it costs less than $40 a year for $100,000 worth and will make up for anything your medical insurance doesn't cover.
Collision & Comprehensive deductibles
Higher deductibles lower your premium but increase your out of pocket expense if a loss occurs.
Collision reimburses you for the full cost of repairs or replacement of your car after an accident. Comprehensive covers you in the event your car falls victim to a natural disaster, vandalism or theft. With either coverage, the lower the deductible you choose, the more the policy will cost you. We recommend that you always choose the highest deductible you can afford ($1,000 is fine). After all, the purpose of insurance is to protect you against big losses, not to make you whole to the last dollar. If you have an older car, you might drop this coverage altogether.
Collision and comprehensive ? which can account for 30% to 40% of your t otal premium ? are cash-value coverages. Which means if your car i s damaged, the most you'll recoup is the Kelley Blue Book value, which declines rapidly as your car ages. Here's a good rule of thumb: If the cost of your collision and comprehensive is more than 10% of your car's Blue Book value, it probably makes sense to drop these coverages all together and save a tidy sum. With most cars, you should approach this limit as the car turns five years old. Understand, however, that if you eliminate the coverages, you'll have to foot the bill if you get in an accident that's your fault, or if the car is totaled or stolen.
You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed. If not, you might consider dropping this coverage and pocketing the savings on premiums. As your car's value decreases
Tips on Saving money on your auto insurance?
Explore auto insurance discounts
Safe Driver Discounts
Without the extra cost of auto repairs and speeding tickets, it?s should be no surprise that good drivers save money on their auto insurance right off the bat. Many states reward safe drivers with deep discounts.
Specialized Occupation Discount
If you or your husband or wife is employed as an engineer, educator, or a scientist, you may be eligible for an auto insurance discount simply based on his or her profession.
Car Alarms
Not only will investing in a car alarm protect your vehicle from theft and give you piece of mind, it may save you money on your auto insurance. Other anti-theft devices, like certified car tracking systems may also earn you an auto insurance discount
Safety Equipment
If you're in the market for a new car, get one that has the latest in safety equipment. Your vehicle's safety equipment could save you money on your auto insurance, but more importantly, it could save your life.
Good Students
Young drivers are generally inexperienced behind the wheel and are known for being high-risk by auto insurers, which helps to explain why auto insurance premiums are so high for this age group. Doing well in school may save you or your young driver some money on auto insurance. Good students in certain age groups may qualify for an auto insurance discount.
Make your auto insurance dollar Work for you
To get the most value out of the money you spend on auto insurance, it may be a good idea to choose the highest liability and deductible levels you can comfortably afford. Why? Remember, you buy auto insurance to help you if something bad happens. Higher limits mean that there?s more financial help available to you if you get into an accident. That?s why higher limits are generally better than the minimum required in many states.
Unsure how to pay for higher limits? Higher deductibles help you save money on your regular auto insurance premium. When you choose a deductible, think about which you'd prefer -- paying more now or paying more later if you ever need to file an auto insurance claim. A higher deductible will lower your auto insurance premium, but you'll have to pay that higher amount if you have to file a claim. When you select a lower deductible, it?s just the opposite.
Drive safely
Safe driving is one of the best ways to keep your auto insurance rates low. (Even more important, it helps to save lives!) Speeding tickets and fender benders only increase your auto insurance costs. Drivers with good driving records often benefit from safe driving discounts as well.
Pay your bills on time
Auto insurance companies use several pieces of information to assess the potential risk a driver represents. One important rating factor, applicable in some states, is the credit-based insurance score. Insurance industry statisticians and actuaries have found that folks who pay their bills on time are generally better drivers (or are otherwise more responsible). When auto insurance companies think you?re a better risk to insure, you will generally get a better rate.
Shop around
Under rare circumstance loyalty doesn?t pay. Maintaining auto insurance for your family is one of those situations. You may be paying more than you need to by staying with the same auto insurance company! Every 6 months, you should compare auto insurance rates with several auto insurance companies to find the best deal. You may be surprised at how much you save when you shop around.
Most people don?t know that they can change and cancel their policies at any time. You don?t have to wait until your policy expires or renews to take advantage of a better auto insurance rate that might be available. However, because you never want to have a gap in your auto insurance coverage, it?s better to sign up for new coverage and then cancel your existing policy.
No one can predict exactly how much you would have to pay if you were to cause an accident. Ask yourself how you would pay for any damages exceeding your coverage limits. The higher your limits are, the more likely your policy will be able to pay all of the damages.
Bodily Injury liability
How much coverage you need is a function of the assets you'd like to protect. If you make $30k a year and don't own a home, $50k/$100k should be sufficient. However If you make more than $75k, own a house valued at more than $150k, and have $40k in mutual funds you should consider coverage limits of at least $100k/$300k
How much you'll pay to increase your bodily injury liability coverage depends on several factors, including your age, marital status and driving record. It also depends on where you live. For example, In New York City, where the frequency of bodily injury is higher than in most cities, this coverage would cost significantly more than if you lived in Rochester, NY.
Personal Damage Liability
This coverage will pay for the repair and replacement of the other guy's car or property in the event of an accident. State-required minimums are as low as $5,000, but if you total somebody's Lexus, that won't begin to cover the damage.
You're better off with a minimum of $50,000 for each vehicle you own. And to be truly safe, you should have a total of $100,000 coverage.
Personal Injury Protection
This is definitely one coverage you can skimp on. PIP coverage pays for the medical and funeral costs associated with an accident for you and your family ? regardless of whose fault it was. But if you a lready have separate health, life and disability policies, you can probably forgo this one altogether. Check those policies first, but chances are those sort of expenses are covered under another policy you already own.
Uninsured or Underinsured Motorist
This coverage pays for medical and funeral costs for you and your family in the event you get in an accident with either a hit-and-run driver or a driver who doesn't have enough auto insurance. These policies usually cover bike and pedestrian accidents, too. Given the prevalence of uninsured drivers nationally, this coverage is essential. On average, it costs less than $40 a year for $100,000 worth and will make up for anything your medical insurance doesn't cover.
Collision & Comprehensive deductibles
Higher deductibles lower your premium but increase your out of pocket expense if a loss occurs.
Collision reimburses you for the full cost of repairs or replacement of your car after an accident. Comprehensive covers you in the event your car falls victim to a natural disaster, vandalism or theft. With either coverage, the lower the deductible you choose, the more the policy will cost you. We recommend that you always choose the highest deductible you can afford ($1,000 is fine). After all, the purpose of insurance is to protect you against big losses, not to make you whole to the last dollar. If you have an older car, you might drop this coverage altogether.
Collision and comprehensive ? which can account for 30% to 40% of your t otal premium ? are cash-value coverages. Which means if your car i s damaged, the most you'll recoup is the Kelley Blue Book value, which declines rapidly as your car ages. Here's a good rule of thumb: If the cost of your collision and comprehensive is more than 10% of your car's Blue Book value, it probably makes sense to drop these coverages all together and save a tidy sum. With most cars, you should approach this limit as the car turns five years old. Understand, however, that if you eliminate the coverages, you'll have to foot the bill if you get in an accident that's your fault, or if the car is totaled or stolen.
You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed. If not, you might consider dropping this coverage and pocketing the savings on premiums. As your car's value decreases
Tips on Saving money on your auto insurance?
Explore auto insurance discounts
Safe Driver Discounts
Without the extra cost of auto repairs and speeding tickets, it?s should be no surprise that good drivers save money on their auto insurance right off the bat. Many states reward safe drivers with deep discounts.
Specialized Occupation Discount
If you or your husband or wife is employed as an engineer, educator, or a scientist, you may be eligible for an auto insurance discount simply based on his or her profession.
Car Alarms
Not only will investing in a car alarm protect your vehicle from theft and give you piece of mind, it may save you money on your auto insurance. Other anti-theft devices, like certified car tracking systems may also earn you an auto insurance discount
Safety Equipment
If you're in the market for a new car, get one that has the latest in safety equipment. Your vehicle's safety equipment could save you money on your auto insurance, but more importantly, it could save your life.
Good Students
Young drivers are generally inexperienced behind the wheel and are known for being high-risk by auto insurers, which helps to explain why auto insurance premiums are so high for this age group. Doing well in school may save you or your young driver some money on auto insurance. Good students in certain age groups may qualify for an auto insurance discount.
Make your auto insurance dollar Work for you
To get the most value out of the money you spend on auto insurance, it may be a good idea to choose the highest liability and deductible levels you can comfortably afford. Why? Remember, you buy auto insurance to help you if something bad happens. Higher limits mean that there?s more financial help available to you if you get into an accident. That?s why higher limits are generally better than the minimum required in many states.
Unsure how to pay for higher limits? Higher deductibles help you save money on your regular auto insurance premium. When you choose a deductible, think about which you'd prefer -- paying more now or paying more later if you ever need to file an auto insurance claim. A higher deductible will lower your auto insurance premium, but you'll have to pay that higher amount if you have to file a claim. When you select a lower deductible, it?s just the opposite.
Drive safely
Safe driving is one of the best ways to keep your auto insurance rates low. (Even more important, it helps to save lives!) Speeding tickets and fender benders only increase your auto insurance costs. Drivers with good driving records often benefit from safe driving discounts as well.
Pay your bills on time
Auto insurance companies use several pieces of information to assess the potential risk a driver represents. One important rating factor, applicable in some states, is the credit-based insurance score. Insurance industry statisticians and actuaries have found that folks who pay their bills on time are generally better drivers (or are otherwise more responsible). When auto insurance companies think you?re a better risk to insure, you will generally get a better rate.
Shop around
Under rare circumstance loyalty doesn?t pay. Maintaining auto insurance for your family is one of those situations. You may be paying more than you need to by staying with the same auto insurance company! Every 6 months, you should compare auto insurance rates with several auto insurance companies to find the best deal. You may be surprised at how much you save when you shop around.
Most people don?t know that they can change and cancel their policies at any time. You don?t have to wait until your policy expires or renews to take advantage of a better auto insurance rate that might be available. However, because you never want to have a gap in your auto insurance coverage, it?s better to sign up for new coverage and then cancel your existing policy.
Safe Internet Banking
Tips for Safe Banking Over the Internet
As use of the Internet continues to expand, more banks and thrifts are using the Web to offer products and services or otherwise enhance communications with consumers.
The Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, any day, any time. However, safe banking online involves making good choices – decisions that will help you avoid costly surprises or even scams.
This brochure offers information and tips to help you if you are thinking about or already using online banking systems. We will tell you how to:
Confirm that an online bank is legitimate and that your deposits are insured
Keep your personal information private and secure
Understand your rights as a consumer
Learn where to go for more assistance from banking regulators So, before you click there, read here.-->
Confirm that an Online Bank Is Legitimate and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an online bank that has no physical offices, it’s wise to make sure that it is legitimate and that your deposits are federally insured. Here are tips specifically designed for consumers considering banking over the Internet.
Read key information about the bank posted on its Web site.
Most bank Web sites have an "About Us" section or something similar that describes the institution. You may find a brief history of the bank, the official name and address of the bank’s headquarters, and information about its insurance coverage from the FDIC.
Protect yourself from fraudulent Web sites.For example, watch out for copycat Web sites that deliberately use a name or Web address very similar to, but not the same as, that of a real financial institution. The intent is to lure you into clicking onto their Web site and giving your personal information, such as your account number and password. Always check to see that you have typed the correct Web site address for your bank before conducting a transaction.
As use of the Internet continues to expand, more banks and thrifts are using the Web to offer products and services or otherwise enhance communications with consumers.
The Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, any day, any time. However, safe banking online involves making good choices – decisions that will help you avoid costly surprises or even scams.
This brochure offers information and tips to help you if you are thinking about or already using online banking systems. We will tell you how to:
Confirm that an online bank is legitimate and that your deposits are insured
Keep your personal information private and secure
Understand your rights as a consumer
Learn where to go for more assistance from banking regulators So, before you click there, read here.-->
Confirm that an Online Bank Is Legitimate and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an online bank that has no physical offices, it’s wise to make sure that it is legitimate and that your deposits are federally insured. Here are tips specifically designed for consumers considering banking over the Internet.
Read key information about the bank posted on its Web site.
Most bank Web sites have an "About Us" section or something similar that describes the institution. You may find a brief history of the bank, the official name and address of the bank’s headquarters, and information about its insurance coverage from the FDIC.
Protect yourself from fraudulent Web sites.For example, watch out for copycat Web sites that deliberately use a name or Web address very similar to, but not the same as, that of a real financial institution. The intent is to lure you into clicking onto their Web site and giving your personal information, such as your account number and password. Always check to see that you have typed the correct Web site address for your bank before conducting a transaction.
Think about your Survivors
When buying a life insurance policy there are many things to take into consideration. With that being said, there is nothing more important than the needs of your survivors. For most people this includes their spouse, as well as any children that they may have. It is important to keep these people in mind because they are the ones that will need the financial support if you happen to pass away.
There is no hard and fast rule as to how much money you should leave your survivors through your life insurance policy. Some experts think that you should have a policy of at least five times your annual salary, but this is not a rule that necessarily has to be followed.
As a general rule of thumb you should assess your situation closely before buying a life insurance policy. This will allow you to get a good idea as to how much your survivors would need if something bad were to happen to you.
Not only should you consider how much money your survivors will need per year when you die, but you will also want to factor in money that they can invest. This way they will be able to draw from your life insurance policy for a longer period of time.
Life insurance is not fun to buy, but it is something that everybody has to consider. Your life insurance policy is what will take care of your survivors if you pass on. Make sure that before you buy that you look into what type of life insurance is available, as well as how much coverage you need to buy. Instead of listening to industry standards or general information look into your own personal situation. This will allow you to buy the life insurance policy that will work best for your survivors.
There is no hard and fast rule as to how much money you should leave your survivors through your life insurance policy. Some experts think that you should have a policy of at least five times your annual salary, but this is not a rule that necessarily has to be followed.
As a general rule of thumb you should assess your situation closely before buying a life insurance policy. This will allow you to get a good idea as to how much your survivors would need if something bad were to happen to you.
Not only should you consider how much money your survivors will need per year when you die, but you will also want to factor in money that they can invest. This way they will be able to draw from your life insurance policy for a longer period of time.
Life insurance is not fun to buy, but it is something that everybody has to consider. Your life insurance policy is what will take care of your survivors if you pass on. Make sure that before you buy that you look into what type of life insurance is available, as well as how much coverage you need to buy. Instead of listening to industry standards or general information look into your own personal situation. This will allow you to buy the life insurance policy that will work best for your survivors.
Thursday, October 18, 2007
Look Before You Leap: Student Loan Shopping Tips
Figuring out how to pay for college isn’t easy. For most people, savings, grants and scholarships don’t cover all the costs. Working helps, but working too much while you’re in school (more than 15 hours a week) can hurt your grades and chances of graduating. Using student loans to fill the gap can help you stay and succeed in college, but it’s important to shop around and borrow only as much as you really need.
If you’ve been offered student loans as part of your college’s financial aid package, talk to a financial aid officer to see if you might be eligible for more grants. If your financial situation has changed, or there are relevant circumstances not reflected in your FAFSA, you may be able to borrow less. If you’ve decided that borrowing is a good choice for you, here are some tips to help you get a fair deal:
Start with the safest loans.
Federal loans are the safest place to start. Interest rates on federal loans don’t change over time and aren’t affected by your credit rating. Federal loans also come with some guaranteed borrower protections in case you’re unemployed or have other financial problems after college.
Perkins and Subsidized Stafford loans are the safest and most affordable federal loans. If you qualify for them, they’re a great deal, because the government pays all the interest while you’re in school. The interest rate for Perkins loans is fixed at 5%, and for Subsidized Staffords it’s fixed at no more than 6.8%.
Unsubsidized Stafford Loans are the next best option, and they’re available to everyone, regardless of income. Interest builds up while you’re in school, but you don’t have to start making payments until six months after you graduate, and you still get the federal borrower protections. The interest rate for Unsubsidized Staffords is fixed at no more than 6.8%.
PLUS Loans, which are only for parents and graduate students, have a higher interest rate of up to 8.5%, but they are generally a better deal than private loans (except, perhaps, some home equity loans).
Private student loans, sometimes called “alternative” loans, are much riskier. They’re a lot like credit cards: even if they start at what seem like low rates, those rates can shoot up at any time, and the interest costs can quickly surpass whatever you borrowed to begin with. Also, they don’t have the borrower protections that come with federal loans.
If you have a lot of financial need, use federal loans before you consider a private loan.
Beware of private loans in disguise: some schools put their own name on private loans, or the loans may have other brand names that make them look safer than they really are. Lenders often offer both federal and private loans, so make sure you know what you’re getting before you sign on the line.
Shop around.
If your school recommends borrowing from a certain lender or lenders, find out why. Schools can have many reasons for choosing a “preferred lender.” Depending on what they are, you may be able to get a better deal by shopping around
Get the full terms of what the preferred lender or lenders have to offer before you make any commitment.
Know that colleges in the Federal Family Education Loan (FFEL) program can’t refuse to process federal loans from lenders that aren’t on their preferred list.
Federal loans are available from lots of different banks and lenders, and many offer discounts on fees or interest rates.
To compare the real savings involved -- which aren’t always worth as much you'd think -- see our fact sheet, Comparing Student Loan Discounts.
Find out if the discount options will remain in place if your loan is sold to another company. (This can happen several times in the life of a loan.)
Private loans vary widely in costs, and they can be tricky to compare. Even a seemingly objective resource like SimpleTuition.com only includes lenders that pay to be listed.
In many cases you won’t see the real terms of your loan until you’ve already signed up for it, and the cancellation process is usually difficult and hidden in fine print.
Use our Questions to Ask About Private Loans to get the information you need and avoid unpleasant surprises.
If you find a good rate on a private loan, keep talking to other lenders, and see if they will beat that rate. Make sure you get the final deal in writing, and that you understand the limitations and restrictions.
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