How to negotiate lower Car Insurance

With each call, you should say, “AAA (or whoever) is offering to insure me for $XXX less” (silence). See what they do. (Note: Negotiating lower insurance using this technique is much harder to do with car insurance companies than banks, so don’t expect very much from this.

car insurance

How much would I save if I insure my car and house with you?

What about renewal discounts? How long have I been a member with you? What can you offer me as a discount for long-term membership?

Can I save money by pre-paying my entire year up front?

Let’s check my car. I know other firms offer discounts for features like anti-lock brakes. What about you?

What kind of low-mileage discounts do you offer?

If I enrolled in a defensive-driving course, what kind of discount would you offer? Oh, really? Which courses qualify?

What about discounts for my employer? (Tell them the specific name of your employer?)

 

Some car insurance companies offer discounts for low-risk occupations (engineers). What kind of competitive rates do you offer?

 

Am I paying for roadside assistance? What other additional “benefits” am I paying for? (If you already pay for AAA, you don’t need roadside assistance through your car insurance. Also, check your credit card: They may offer roadside assistance (but call them and ask how much it really costs if you have to use it.

 

Can you walk me through the deductible changes I could make to save money? (Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you more than 40%. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim. More details here.

 

AAA, Costco, credit cards, and large employers, associations (AARP, teachers’ union): Many of these offer discounts on car insurance. Log onto their website and browse to “perks.”

Read more ways to save on car insurance.

 

It seems like a lot of work, but the savings are substantial. I took screenshots of the different rates that different insurance companies were offering me:

[Source: http://www.iwillteachyoutoberich.com/blog/tip-13-negotiate-your-car-insurance/?utm_referrer=https%3A%2F%2Fwww.google.co.in%2F%5D

TEN TIPS ON HOW TO GET THE BEST DEAL ON CAR INSURANCE

With the high cost of gasoline nowadays, most new drivers think twice of getting car insurance. Driving without any car insurance is a very big risk. Most drivers might think that car insurance is way too expensive, but in the long run it may save you a lot of money. Take for instance this example, if you are in a car accident it may cost you thrice the amount you might have paid for a car insurance to cover for hospitalization and for buying yet another car. Plus without car insurance you will be paying police fines as well as paying for suspended licenses. A total of 47 states require some kind of insurance for your car. It would be wise to know the basic law covering car insurance.

Here are ten tips you can refer to on how you can get the best deal on car insurance. 1. Know the different types of car insurance policy The first thing to know in buying car insurance is to understand the different policies they offer. Choose a policy or policies that would best suit your needs. Liability – This policy covers physical injuries and damages to property.

Looking for cars

This includes paying for hospitalization and other medical expenses. Damage to property includes vehicles and other tangible property that might have been damaged during the accident. Liability also includes expenses for court proceedings if the vehicular accident requires one. Collision – This policy covers any damages if your vehicle is crashed to another vehicle, lamp posts, house or any another objects. Comprehensive – This policy covers damages caused by natural disaster like flood, storm, hail or wind. This also includes damages by theft or vandalism. Medical Coverage – Medical expenses are covered by this policy not considering if the cause is a vehicular accident or not.

Personal Injury Protection (PIP) – A personal insurance of the driver. This policy covers for medical expenses and treatment caused by an auto incident. Uninsured Motorist – If by chance you are hit by an uninsured driver, this policy covers the damages done to your vehicle. Underinsured Motorist – This policy will cover the remaining cost for repairing your damaged car if ever the incident is caused by an insured driver with inadequate liability insurance. Rental Reimbursement – In case of a damaged car due to a vehicular accident, this policy will give a daily allowance for rental fee.

  1. Know your credit rating: In most states, credit rating has always been the number one factor affecting car insurance rates. Be sure you have a copy of your credit report and check its accuracy and immediately contest any erroneous information.
  2. Motor Vehicle Report (MVR) You can get a copy of your Motor Vehicle Report in your respective Department of Driver Services or Department of Public Safety in your state. A three year record may cost you 5$ and a seven year record would cost you 7$. Like credit reports, verify that all information are correct.
  3. Accident Reports you can get a copy of your Motor Vehicle Accident Report from the local police department. It may take around six weeks before you can receive the detailed report. You might need to pay a higher car insurance rate if you have reported accidents within the last eighteen months.

 

  1. Scout for a good insurance package there are some car insurance companies that are offering multi-vehicle discounts. You would get a lower rate if you have two or more vehicles that you want to get insured. Also, you can get a good deal from one company that packages all their insurance policies, including home and health insurance.
  2. Check out various discounts Most insurance company offers a discount to drivers over 55 years of age. It always pays to be a good student; you can get a student discount if you have a3.0 point average or higher.
  3. Obtain a Driving Safety Certificate It is common for car insurance companies to give certain discounts to those who finish a safety driving course with a very good standing. 8. Check the model of your car Insurance rates can be different from vehicle to vehicle. A fancy car will obviously have a higher rate than an older model. 9. Take advantage of added features be sure you are receiving lower rates for safety and security features like antilock brakes and air bags. 10. How much are you willing to pay Choose the option where you can handle the down payment and the monthly paying scheme.

[Source: http://e-carinsurance.blogspot.in/2014/02/ten-tips-on-how-to-get-best-deal-on-car.html%5D

Get The Best Car Insurance Renewal Plans Online In India

Conceptual car insurance using letters alphabet and car model
Conceptual car insurance using letters alphabet and car model

Compare Car Insurance Online

Even though, you can do your utmost to keep your vehicle safe, you cannot avoid damages due to some unavoidable circumstances. Auto insurance or car insurance in India can provide the insurer several benefits and can help keep it up and running. In India, third party motor insurance is mandatory under 1988’s Motor Vehicle Act. Online car insurance or auto insurance plans provide financial support to the insurer in the event of damages because of accidents, fire, explosion and the likes. At GIBL, you can compare car insurance online and choose the best plan available in India for your vehicle with latest tools and techniques available.


What is covered under Car insurance in India?

  • Third party liability:This online car insurance policy provides compensation for damages caused to third party vehicle due to your fault.
  • Accident coverage policy:The coverage is against all types of accident that cause damage of your insured vehicle.
  • Comprehensive coverage policy:This is one of the most profitable types of auto insurance policy. In this online car insurance policy, thefts or accidental damages are compensated. Moreover, the policy also provides coverage for personal accidents.

Why should you compare online car insurance plans?

All auto insurance companies in India provide plenty of benefits at a reasonable price. GIBL’s comparison site brings forth all those renowned insurance providers to facilitate a flawless car insurance comparison experience in car insurance. Here, you can compare car insurance features of various insurance policies and buy the best car insurance online the best possible plan that suits your requirements and budget. As a consumer you can rightfully gather knowledge on various car insurance online policies available in the market and understand what is covered and what’s not. GIBL’s blog posts and articles can help you understand the terms and clauses of online car insurance policies in a better way.
Benefits of choosing Car Insurance policy from GIBL

  • Get best quotes of top car insurance in India
  • Insurers can avail information about newly added benefits
  • Latest information on offers and discounts to assist you save money on annual premium
  • Get the best car insurance comparison within few minutes
  • Purchase motor insurance plans online instantly
  • Free consultation with GIBL’s auto insurance experts to get most comprehensive car insurance policies
  • Get the best comparison rates directly from the insurer
  • Availability of support and reminder service for renewal of car insurance

Car Insurance Renewal

When the time of your car insurance renewal comes, it is best to reconsider your existing auto insurance company. You should assess if the plan was able to deliver all the promised benefits or not. If you are unsatisfied you can choose not to renew your current auto insurance policy; instead you can search and find better car insurance in India and opt for the one that is worth spending your hard-earned money. You have to renew your car policy as per the expiry date of your policy. GIBL offers unique renewal facility online to facilitate policyholders’ quick renewal just by submitting policy details and making payment. It takes just a few mouse clicks you to renew your motor policy from the comfort of your home. When it comes to car insurance in India, GIBL is your one-stop solution.

[Source : https://www.gibl.in/car-insurance/%5D

Basis to Choose Best Car Insurance Policy

If you have bought a new car it is mandatory to buy a motor insurance policy. And for existing motor insurance policyholders it is important to renew it in time. Motor insurance is portable –you can shift to another insurance company without losing any benefit you are eligible for.

car--621x414

Most motor insurance policies that are available in the market are similar hence it becomes difficult to choose the best for oneself. However, you can base your decision on certain factors such as brand, policy coverage, customer service, distribution and access, and price.

Brand: This is one of the most important parameter that distinguishes one insurer from another. One can easily check the past record of an insurance company on various parameters such as claim settlement and time taken for claim settlement on their website.

Coverage:

It is important to choose the right insurance cover that suits your requirement. A standard car insurance, commonly referred to as motor package policy, consists of a third party liability cover and an own damage cover. Third party covers is mandatory by law for every vehicle plying on road and own damage cover is optional. However, it is advisable to buy both the covers.

Customer service: Now many insurance companies have started focusing on Over the Counter (OTC) issuance of policies. Agents are provided with technology to ensure faster delivery of motor insurance policies. Apart from this, some companies have been able to demonstrate significant reduction in turnaround time for other service requests like endorsements for effecting any change in an existing policy and cancellation of policies among others.

To make the claim settlement process fast and stress free for customers, in case a vehicle meets an accident, many insurance companies have tied-up with garages for cashless settlement of claims.

Distribution and access: Sometimes, it is observed that one is not aware of whom to reach out to in case of any difficulty. In such a situation, a wide network and multiple distribution and communication channels have become the need of the hour for insurers.

Price: Premium is also an important criterion to buy a motor insurance policy. But your decision should not solely depend on this factor alone. The premium of a car depends on its Insured Declared Value (IDV) and the rate multiplier which is decided by the insurance company. Generally, the model of the vehicle and geography are the two most important factors which decide the premium rate.

[Source: https://www.policymantra.com/blog/basis-to-choose-best-car-insurance-policy/%5D

Car insurance will become cheaper, but there are still problems with the cost of cover

car--621x414

Great news for motorists – the Competition and Markets Authority is going to ban exclusive pricing deals between motor insurers and price comparison websites. Why is that good news? It could cut the cost of a typical policy by £20, experts reckon.

The CMA revealed this morning the results of a three year investigation into the £11bn motor insurance market.

It criticised the cosy pricing deals and warned that they prevented insurers from selling their policies more cheaply elsewhere.

More than half of all new car insurance business goes through price comparison websites, and up to 90 per cent of it is priced according to the restrictive deals.

“There needs to be improvements to the way price comparison websites operate,” said Alasdair Smith, the CMA’s deputy panel chairman. “They certainly help motorists look for the best deal, but we want to see an end to clauses which restrict an insurer’s ability to price its products differently on different online channels.”

It has ordered the agreements to end which is likely to happen by early next year, unless there is an appeal by the industry.

Steve White, chief executive of the British Insurance Brokers’ Association, welcomed the ban. He said: “We are pleased that the CMA is outlawing anti-competitive ‘wide’ most favoured nation (MFN) parity clauses as these are detrimental to customers.”

But the insurance industry criticised the CMA for not introducing price controls on the cost of courtesy cars for drivers involved in accidents, a move that had been widely expected.

James Dalton, head of motor insurance at the Association of British Insurers, said: “The fact that the report fails to do anything to address the excessive costs of replacement vehicles – a problem that the CMA itself identified – will be a bitter pill to swallow for honest motorists.”

Meanwhile Janet Connor, managing director of AA Insurance, said: “While of course we welcome any measures that help to contain consumer costs and improve transparency, there remains much greater scope to reduce costs by continuing to tackle the tide of insurance fraud. For example, attempts to exaggerate or make false whiplash injury claims cost up to £90 per policy. This remains a considerable burden on insurance companies but it was outside the remit of this enquiry.”

[Source : http://blogs.independent.co.uk/2014/09/24/car-insurance-will-become-cheaper-but-there-are-still-problems-with-the-cost-of-cover/%5D