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

7 Types of Car Insurance: Which Ones Do You Really Need?

Looking for cars

The cost of even a small repair makes car insurance nice to have. When we start adding in the medical expenses that can go with a car accident, insurance becomes downright necessary. In many states, insurance is even a legal requirement before you can drive your car out on the road. But a wide variety of options are available when it comes to insurance — there are actually seven different types of car insurance you can choose from in most cases — and it can be difficult to decide just what type of auto insurance is the best choice for you, your vehicle and your budget.

  1. Liability Insurance

When your state requires that you carry some sort of insurance for your car, they’re usually looking for liability insurance. In the event that you are in a car accident and the police decide it is your fault, liability insurance covers the cost of repairing any property damaged in the crash (such as cars or buildings), as well as the medical bills from resulting injuries. Most states have a minimum requirement for liability insurance coverage that you absolutely must have.

  1. Collision Insurance

The biggest problem with carrying only liability insurance is that if there is an accident, you may wind up without the money to repair your own vehicle. A collision insurance policy makes it so that someone else — your insurer — will pay for the repairs to your car. If your car is totaled in an accident, a collision insurance policy will pay out the value of your car. While the payout won’t cover for a brand new vehicle, the sum will equal approximately what the car was worth before the accident.

Collision car insurance comparison isn’t a must-have, as far as insurance goes. If your car is older, it may not be worth paying for insurance, especially if you can work on saving up enough to replace the car if necessary. If you have a good-sized emergency fund, you may be safe without collision insurance. If you’ve chosen a more expensive car or your car is relatively new, however, collision insurance can help you sleep much better at night.

  1. Comprehensive Insurance

Liability and collision insurance policies exclusively cover car accidents. If something else happens to your car — weather damage, theft, an animal collision — you won’t be A comprehensive insurance policy is one of those things that are nice to have. However, coverage can be pricey and may not be worthwhile if your car would be relatively easy for you to replace, if you had to. Note though that you can bring down the price of this policy if your vehicle has an anti-theft and tracking devices installed.

  1. Uninsured Motorist Protection

Just because the law requires everyone to have insurance doesn’t actually mean that’s the way things work out. Even if a driver has a liability insurance policy, most states have relatively low minimums that may not cover all of the expenses that can go along with an accident. One of the worst things that can happen is that you get stuck with the bills in an accident that wasn’t even your fault.

  1. Medical / Personal-Injury Protection

The costs associated with treating injuries after a car accident can be astronomical. In order to cover those costs, medical and personal-injury protection is available. No matter who is at fault, such protection will cover your medical bills along with those of your passengers.

  1. No-Fault Insurance

So far, no-fault insurance is available in twelve states. This option covers injuries and property damage, no matter who is ultimately responsible for a given accident. The decision to choose no-fault insurance really depends on what other insurance options are available to you and at what price. Some no-fault policies can be expensive, making it more cost-effective to choose other options, especially if your car is inexpensive to replace.

  1. Gap Insurance

If you are still making car payments, gap insurance may be a good choice. It’s meant for drivers who still owe money on their cars and need to pay off the vehicle if it is totaled in an accident. It’s generally a good choice if you owe more on your car than you could easily pay off on short notice.

Gap insurance is especially worthwhile if you owe more on the car than you could get for it if you sold it today, since many insurance policies will only cover the value of

[Source: http://moneyning.com/budgeting/7-types-of-car-insurance-which-ones-do-you-really-need/%5D

3 Top Tips for Cheaper Car Insurance

cheap car insurance

Despite the economic recovery, car insurance is one of the few industries where customers are still seeing rising prices year on year.

In part this is due to the increasing number of young and accident prone drivers on the road, but it’s also because insurance companies are aware that most people will happily auto-renew their premium without checking the details. However, with a few tips and tricks, you can easily get cheaper car insurance.

Haggle

The first and most important step when your new car insurance policy comes through the post is to immediately pick up the phone and start to negotiate the terms.

The rapid rise of insurance comparison websites means that you can arm yourself with a multitude of other quotes in a matter of minutes.

The person in the call centre will be heavily invested through commission to retain your custom, so simply tell them the cheaper car insurance deals that you’ve found and they’ll usually be able to match it or reduce their price.

You can play the more risky game of threatening to leave and it will depend on the person you’re talking to as to whether they’ll simply let you go or will go find a supervisor to knock some more money off.

Drop The Perks

If you’re finding that your cheap car insurance premiums are rising each year, even when you’ve not had an accident, have a look at what additional perks have been added to your policy. Insurance companies are notorious for scaremongering their clients into having more protection than they could possibly need and each level of protection can be charged for.

Typical perks that boost up your premiums include unnecessary levels of medical and legal fee coverage, road side assistance and a courtesy car till you’re back on the road. Regardless of the fact that you can get these perks for cheaper with a breakdown recovery service like the RAC or Green Flag, you’ll still save money by removing these from the policy.

he salesperson you speak to will try to guilt you into keeping them, so make sure you’re focused on the cheap car insurance that awaits you at the end of the phone call.

Have A Higher Excess

Finally, having a higher excess in the case of an accident is a sure fire way of getting cheap car insurance. As a general rule of thumb, you’ll pay an extra £100 in premiums for each £200 less of excess you choose to pay.

Of course, the amount of excess you choose has to be dictated by how much spare cash you have available in the case of an accident, but if you’re a safe driver or don’t do a huge number of miles each year, you should be safe with an excess of £500 which should save you around £200 a year.

[Source: http://www.cityinsurance.co.uk/blog/car-insurance/3-top-tips-for-cheaper-car-insurance%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

Is Vehicle Insurance Tax Deductible?

If you are self-employed, are an independent contractor or if you use your vehicle for any business purposes beyond commuting to and from work, your auto insurance premium is likely tax deductible. However, if you use your car for both personal and professional reasons, only the portion of expenses associated with business use are tax deductible and must be prorated accordingly.

Tax Deductible Premiums: 3 Scenarios
those who receive non-employee compensation are required to submit a 1099 form to the IRS. If you receive income as a business owner or as an independent contractor, you’re receiving non-employee compensation and may be eligible for a tax deduction on your auto insurance. Likewise, if you are a full-time, salaried employee and use your car for work, you may also be eligible for auto expense-related tax deductions. Let’s look at three different scenarios in which deducting a portion of your insurance premium would be applicable:

Business Owner – You’re the sole proprietor of a home remodeling business. 60% of the total miles you drive are spent traveling to and from clients’ homes and back and forth between materials suppliers. Thus, 60% of your auto insurance premium payments will be tax deductible.

Contractor or Freelancer – You’re a freelance photographer and drive 15,000 miles a year, 7,500 miles of which you spend traveling to and from assignments or scouting locations. In this scenario, 50% of your auto insurance premium is tax deductible.

W-2 Employee or Salaried Employee – You are a full-time, salaried executive assistant and run frequent errands for your employer using Vehicle Insurance for your own car. The errands you run for work comprise 15% of your total miles driven. If your employer does not reimburse you, 15% of your total car expenses is tax deductible, including 15% of your insurance premium.

Standard vs. Itemized Deductions
you can choose to deduct driving-related work expenses by using either the standard per-mile deduction rate (for 2014, the rate was .56 per mile) or you can calculate the total cost of your actual expenses.

Car Key

The standard rate makes calculating expenses simple for self-employed taxpayers. The typical costs of fuel, insurance, depreciation, repairs, tolls, parking fees, licenses and other vehicle expenses are factored into the calculation of this rate. Many Americans who frequently use their vehicles for business purposes elect to use this standard mileage deduction.

Drivers who use relatively expensive vehicles for business purposes may be better off electing to deduct their actual expenses. For example, if you own a 1-ton diesel pickup truck and use it for business-related winter activities such as snow-plowing, you may determine that the per-mile cost of operating this truck is much more than the average vehicle and therefore more than the standard per-mile rate. However, if you choose to itemize your actual deductions, be sure to keep track of your mileage, as well as comprehensive records of all auto-related expenses.

Use the Most Advantageous Option
The IRS encourages taxpayers to calculate their deductions using both methods. The IRS website says: “If you qualify to use both methods, you may want to figure your deduction both ways to see which gives you a larger deduction.

Non-Eligible Expenses
you can only deduct expenses for which your employer does not already reimburse you. If you have a home office, you can deduct all work travel during the day except your first and last rides to and from home. These trips are considered your “commute,” and expenses related to your regular commute to and from work are not tax deductible.

You may also wonder whether or not the premiums you pay for the medical expense portion of your policy can be used as a medical deduction; they cannot.

Not All Vehicles Qualify
The IRS defines a vehicle for the purposes of work-related driving as a four-wheeled vehicle designed for use on public roads. This eliminates motorbikes, scooters and bicycles. The IRS also specifically excludes certain specialty vehicles like taxis, moving vans and ambulances. Vehicles that weigh over 6,000 pounds are also excluded.

For more detailed information, talk to your local tax specialist and give us a call at (800) 258-5101 to find the auto insurance policy that best fits your personal and professional driving needs. You can also find us on the web at AnswerFinancial.com.

[Source: http://www.answerfinancial.com/insurance-center/is-auto-insurance-tax-deductible%5D