Best Tips to Help Cut Your Car Insurance Premiums

Feb 04, 19 Best Tips to Help Cut Your Car Insurance Premiums

Owning a car is a necessity – a costly necessity. Aside from the actual cost of the vehicle, there are other recurrent costs associated with owning a car such as its maintenance, fuel and car insurance. However, you don’t have to be broke to own a car. There are ways you can do to reduce these expenses, particularly on your auto insurance.

Below we list down some strategies to help cut your car insurance premium.

  1. Eliminating optional coverages

Chances are you’re unaware about the optional coverages included in your car insurance policy, such as collision and comprehensive coverage. If you have an older car, it may be wise to drop the collision coverage which provides coverage for any damage you cause to the vehicle. Consider weighing the cost of your chosen deductibles and the value of your car.

  1. Drive safely

The more moving violations and accidents you get involved in, the higher your annual premiums become. As such, you have to keep your record clean by avoiding speeding and staying out of accidents. This includes equipping your car with necessary safety accessories. For instance, if you frequently drive at night, you might need to invest in a reliable car light such as this 20-inch LED light bar reviewed at http://lightbarreport.com/.  Driving safely can save you 5% or more on you insurance premium.

  1. Use one insurance company

Consider using only one insurance provider for all policies you currently have. By bundling multiple insurance plans, you can ask for a discount for up to 10% of the total premium. This is a great way to save up on you car insurance.

  1. Choose a car that is less prone to theft

Insurance rates vary greatly due to many factors. Vehicles that are more likely to be stolen frequently have higher premiums. So, it’s best to drive a car that is less attractive to thieves.

  1. Choose a safe car

If you are just planning to buy a car, make sure to pick one that is considered a “safe car.” Take note that cars are rated on a risk scale and car models with far higher accident claims tend to be charged with higher premiums. Usually, these safe cars are equipped with added safety features that protect its occupant in case of a crash. However, if you already have a car and it happens to be rated as a high-risk car, you should install additional safety features. Installing an LED light bar like this http://lightbarreport.com/best-50-inch-led-light-bar-reviews/ can help make your car safer.

  1. Change your tires seasonally

Save up to 5% on your car insurance premiums by simply using winter tires. But more than just cutting on your insurance costs, this should ensure that your safety while driving on frozen roads.

  1. Compare car insurance quotes

Many car owners simply renew their current car insurance plan for convenience. Unfortunately, you might be overpaying for premiums. Car insurance rates regularly change. It’s best to get quotes from different insurers before renewal.

  1. Get discount for paying fully

Many insurance providers offer up to 10 percent discount if you can pay the full cost before its effective date. So, even before your present car insurance policy expires, begin saving up so that you can pay-in-full your new car insurance premium.

Make sure you don’t miss out on these tips and be surprised at how much you can actually save!

 

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Saving Up and Planning For Unexpected Expenses

Oct 06, 18 Saving Up and Planning For Unexpected Expenses

“All days are not same. Save for a rainy day. When you don’t work, savings will work for you.”

M.K. Soni

The hurricane season last year left many households in wreck, not just on their properties but also in their finances. The destruction left by the inclement weather forced many people to spend more on unexpected expenses.

Over the past few years, destructive weather disturbances have become common. But while these phenomena are not new nowadays, the sad fact is that only very few American households actually save up for these ‘unexpected’ expenses.

Come to think of it, many of us make budget plans every year (some do it monthly). Some even write their financial plans on creative planners, such as those reviewed at https://getlifeyoudesire.com/. We allot budget for basic necessities, transportation, mortgage, vacation, insurance, etc. But not all of us actually allot money for unexpected expenses. As a result, our finances get drained when these unplanned expenses occur.

Preparing for Sudden Expenses

Aside from storm-related costs, there are many other unanticipated expenses that can arise throughout the year. Emergency home repairs, additional power and heat consumption, car repair bills, annual insurance premiums, sports fees, new membership & subscription fees, medical expenses, and other lump sum expenses. This list can go on and on, as there are endless sudden expenses that you can face.

Saving Up For Unexpected Expenses

Unanticipated expenses can eat up a large sum of your daily budget and even savings. That is why, it is vital that you include it in your annual budget management plan. Here’s how to effectively prepare for these sudden costs.

  1. Identify the common unexpected expenses. Usually, these expenses are seasonal in nature so you can actually foresee them. Some examples of sudden expenses include car repairs, Christmas gifts, car insurance, winter season, dental bills, property taxes, etc.
  2. Review your previous year’s credit card and bank statements. See any irregular expenses or withdrawals. This should help you better identify the sudden expenses you’ve accrued.
  3. Sum up all the amounts paid for unexpected costs that are beyond your monthly paycheck. Divide the sum with your total annual paychecks. So, if you incurred $3,000 for sudden expenses, divide by 24 (if you receive bi-monthly paychecks), then you’ll need to allot $125 for unexpected costs.
  4. Consider it as a recurring expense and pay it up every time you receive your paycheck. For a more organized financial management, you can use the best goal planners that you can find at Get Life You Desire.
  5. Be ready to adjust with your budget and spending habits. You can also start saving small then move up until you reach the target savings. This should help avoid hurting your spending on basic necessities.
  6. Set up electronic transfers that will automatically fund another savings account intended for unexpected expenses. This will help you manage your money better and avoid forgetting your savings.

Once your savings begin to grow, you might be tempted to spend on unnecessary buys. Avoid this itch by thinking of your goals for the savings. Just think that if you spend it now, you’ll end up paying more on debts in case sudden expenses come your way.

 

 

 

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Firearms Insurance Basics

Oct 04, 15 Firearms Insurance Basics

Guns are dangerous things, there is no doubt about that, but they are also expensive. Therefore, it’s stands to reason that people who invest in firearms for their own protection want to protect these tools as well. This is where gun insurance comes into play.

There are quite a few policies available today, so you will have plenty of options to choose from if you decide to seek this type of insurance. The first thing to focus on when looking for the best policy is the type of the firearms you want to cover. Some of these plans are very specific, so you will need to take the future into account if you want to have a chance to expand your firearms collection in the future. Otherwise, you may end up needing to start searching for a new policy all over again if you buy a type of gun not covered by the current one.

You also need to pay attention to what exactly the policy protects you from. A good firearms insurance plan should cover the following:

  • Fire
  • Damage
  • Direct physical loss
  • Theft

you dont joke with this dangerous kittyNote that the “damage” in this policy must be defined in great detail so that there will be no room for maneuvering that agents will be able to use should your gun get damaged. You also need to make sure that you understand the conditions considered “theft”, especially when it comes to theft from a vehicle.

In the vast majority of cases, “theft from a vehicle” is defined as breaking and entering into a locked vehicle or its locked portion. Take your time to check this term when it comes to theft from your residence.

Reduce the Risks

Insurance provides you with a kind of a security blanket, but you shouldn’t rely on it to solve all your problems. In many cases, there is a chance to prevent dangerous incidents that result in damage and loss of property. Installing a high-quality gun safe is a sure way to reduce these risks when it comes to your firearms. If you want to learn more about safes designed specifically for firearms, go here.

Remember that installing one of these safes does not only protect your expensive guns from burglars. This also helps protect your family from accidental injury. Simply hiding a gun actually increases this particular risk exponentially. An accident caused by such a blatant show of negligence and breaking of several important safety protocols definitely won’t be covered by your insurance policy. Therefore, it’s imperative to store your firearms in a place designed for this particular purpose.

If you are worried about not being able to use the gun for your protection because it’s locked in a safe, be sure to install this safe in a strategic location that you can access from any point of your house. You should also practice opening and closing it often. It would be best if you manage to learn how to do this not only fast but while blindfolded. This skill will come in handy if you ever need to use a gun during the night and there is no chance of turning on the lights.

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4 Terrorism Insurance Cover

Sep 10, 15 4 Terrorism Insurance Cover

With the raise of mass terrorist global events ever since the terrible events of September  11, 2001; many business and property owners have seen the need to cover their property against loss through terrorism. As we can see, maybe this type of insurance wouldn’t cross most people’s minds, but it is actually becoming increasingly popular all over the world.

People are becoming more and more scared of losing their health, lives or property due to some form of terror attack and the market for this started emerging. This fear people have has prompted the insurance fraternity to devise a cover for this market need. However this is a tricky cover given that the chances of their occurrence are very low while they have huge potential losses.

We all know how important it is to have good insurance coverage. Most people have basic home, business or personal insurance which covers domestic and business injuries. Most injuries happen at home or in the workplace and are a result of falls or improper handling of tools such as framing nailers, or tools that malfunction (a good way to prevent this is to learn how to handle tools with care and, for example, look at a good framing nailer review site before making a purchase).

But, terrorism insurance is an important insurance cover especially to regions most exposed to terrorism activities. In fact it is the only way for any business to protect itself from losses arising from terrorism activities. In regions most vulnerable to attacks and violent extremism such as Africa, insurance companies have tailored the terrorism cover into various marketable insurance cover which benefit both the insurer and the insured.  But don’t think that this market exists in developing countries only – it is also very prominent in the US. Some of the available insurance covers in the most insurance markets are:

  • Property Terrorism and Sabotage cover
  • Political Violence property cover

However the main challenge facing these covers is the potential massive losses expected from the occurrence of these loses coupled with inadequate accumulation control. This makes most insurance companies to turn to overseas re-insurance, since the locally available re-insurers don’t have the capacity to cover them.

Insurance policies will compensate or have already compensated owners of the several businesses for property damage and business Interruption. It is therefore important to be safe rather than sorry by having your business covered against terrorism-related loss. For business  situated in regions susceptible to terror attacks, this cover is more of an essential than a luxury and everyone would be well advised to have their property covered.

On the part of the insurers, it is important to have the available terrorism covers to be tailored to suit everybody and cover broad geographic and financial spectrums.

All in all, the terrorism insurance is the next best thing after anti-terrorism measures; since not everybody can contribute in fighting extremist terror activities they can be prepared to combat the property losses arising from terrorism activities, by being covered against losses from terrorism events.

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Quad Copter Insurance

Sep 07, 15 Quad Copter Insurance

Technology is always improving, and there are few places where this is more evident than in aviation. These days, even regular consumers with no flight knowledge can purchase quad copters and other aeronautical devices and fly those around, typically without a care as long as they aren’t harming or snooping on anyone. These flying machines cost much more than the toys many children have grown up with due to better standards, improved materials and similar factors. If you’re a flight enthusiast who is willing to spend hundreds or even thousands of dollars on a machine, insuring that machine is a must.

Consider for a moment just what machinery actually goes into one of these devises. You have all of the gear necessary to make it airborne and keep it in the air, of course. But in perhaps the majority of cases, quad copters also come with camera elements build into the device, or with spaces allowing for the attachment of such elements. Many of the remote controlled flyers are used for getting a bird’s eye view of a place, or getting other perspectives which would normally be difficult for a person to see. They’re very useful machines, but they’re also very delicate, and sometimes very expensive.

This is why insuring such a device just makes sense. If you’ll have a quick look at http://quadcopterguru.com/ you can see a variety of these machines, as well as selling points about each. It contains a wealth of information about this very specific topic, but more than anything, it will help you to realize just how expensive some of these quad copters can actually be. If you would be willing to spend so much money on buying such an item, paying a paltry sum to quickly get the quad copter replaced if it is lost, stolen or destroyed is just sound planning.

Like many other insurance policies, there are probably ways you could help to reduce the monthly premium you would pay to keep your quad copter covered. Getting lessons in the operation of such vehicles and obtaining certification might help. Also, demonstrating an ability to safely use the device would certainly do some good. The thing is, many countries require no certification or licensing at all to just buy and start using a quad copter or similar device. When no systems exist, it can be difficult to get the proof you need to get the savings talked about here.

The initial argument here remains the same though. For anyone willing to invest the amount of money it takes to purchase a quad copter and get it up and operational, insuring the item only makes sense. Not to do this would be akin to purchasing a used car and leaving it uninsured, or doing the same with a new, cheaper brand of car. Any of these could be very bad financial moves for a person to make, and though there are no guarantees something bad will happen to your investment, having coverage just in case has never harmed anyone before.

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Insure Your Musical Instrument

Aug 21, 14 Insure Your Musical Instrument

Insurance is vital for man, as it is a very good way of protecting yourself and your family against disaster, which can strike in any form like a car break down, leaking roof, fire or accident. With insurance, you feel a peace of mind that what you own is secure and cared for. Insurance gives you the satisfaction that you have taken the best way to deal with any untoward happening and hope that everything turns out for the best.

Whether it is a car you own or a music instrument for that matter, insurance should be bought, even if you don’t see the need for it, as it should be bought before disaster strikes.  Musical instrument insurance should be considered, even if the instrument is not an expensive one.

A policy of $5,000 should be minimum amount you should consider, as when you add up the cost of the accessories, cover, microphone, sheet music notes and other things you’ve purchased for the instrument, the value appreciates quite rapidly. So insurance starts to appear a good choice, particularly if you rely on your musical instrument and cannot afford to replace or repair it.

Things to be aware of

There are certain factors you should be knowledgeable about before you take a policy.  The companies offering musical instrument insurance services differ in their focus. While some companies specialize in musical instruments made of wood, there are some that offer policies for school going kids, rental fleets and schools. The premium owed can come down, if you belong to a music association as in a group the maintenance of the instrument is well taken care of, so the need for availing the insurance is absent and lowers the risk factor.

Research gives you better leverage

To get the most appropriate insurance, you need to do a thorough research online. You can know about the specialties, services and offers present. The minimum premium payable, as well as the deductibles varies from company to company. The amount of premium depends on the instrument type, model and the risks present. This makes the insurance amount a highly variable one. The deductible offered are more focused on attracting the customers than as a profitable factor for the insurer.

Musical instruments

awesome analog pianoNo matter what musical instrument you use – soundy digital piano, saxophone, viola – insurance is a good thing to have. There are certain instruments that have more risks than the rest like cellos or double bass, which attract a higher premium. Bows which come with fragile heads also come under this category. The insurance policies however do not cover that comprehensively in cases like theft. The policy expects you to be careful with the instrument.

Generally a policy for music instrument covers the instrument, and the accessories, electrical items, recording sound equipment and amplifiers in the list. iPods and laptops do not however come under the insurance cover. Exclusions cover a wide range from tear, wear, vermin, mold and even government action. And in case you own bowed stringed music instrument there is devaluation to consider. A simple crack in the sound post can reduce the value by half.

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