8 things you should know about auto insurance

Dealing with the ins and outs of auto insurance can be as difficult and confusing as an attempt to untie the Gordian knot. `Although we can help you with the thorny problem Gordian, the following recommendations could help you understand some of the most complex of auto insurance. 1) Determine appropriate coverage. Assisting in controlling the price you pay, just ask American Insurance Association Executive Dave Snyder. For example, Snyder notes that half of your auto insurance and the bill on responsibility "that has to do with how you will use the vehicle, for example to get to work and your driving record . If you `ve got a clean driving record, it amounts to pay less for insurance than you would if you had a speeding ticket on your record. You can control the other half of your premium which covers damage or loss of your vehicle, collision and comprehensive. " 2) the price of insurance. "In most states," Snyder, "there are hundreds of insurers competing for business, it` s possible to save hundreds of dollars by obtaining quotes from different suppliers of automobile insurance. " Echoing the theme Snyder `s AIA is his colleague, Nicole Mahrt. Mahrt urge you to work with your insurance company to get more than one bid. "It pays to shop around you, especially if you feel you` ve been paying too much. " 3) Look for insurance discounts. "Many insurers will give you a discount if you buy two or more types of insurance from them, for example auto and home insurance," says Jean Marchioni, senior vice president of Personal Lines Insurance selective in Branchville, NJ More Suggested savings Marchioni: "Find out about discounts for air bags, anti-lock brakes, daytime running lights and anti-theft devices." 4) Consider taking a higher deductible. "You can reduce your insurance bill by increasing your deductible," says Mahrt. "But just make sure you can pay the higher deductible if you file a claim." 5) Look in "stacking" coverage if you file an insurance claim. Insurance agent Daniel Kummer trade group explained that the stacking uninsured / under blankets average car "that you can collect from more than one of your auto insurance policies. Most states prohibit this practice, but there are about 19 states that either allow stacking or do not answer the question either through legislation or litigation, "according to Kummer, director of personal insurance for the Property Casualty Insurers Association of America. "Be sure to check your motor insurance contract to see if it is authorized." Please be advised that you `ll probably pay an insurance premium higher if you have stacked coverage. "It could be 10% to 30% more depending on the litigious nature of the state in which you reside," says Kummer. 6) Check with your insurer before buying a car. "Your premium is based in part on the car` s sticker price, the cost of repair, its safety record and the risk of theft, "replies John` s selective Marchioni. Remember to avoid purchases by price alone. "You want an agent and a company that answer your questions and process claims fairly and efficiently," said Marchioni, senior vice president of Personal Lines Selective Insurance. 7) Notify your auto insurance company as soon as you change companies. "Make sure you cancel your old policy," suggests PCI `s Dan Kummer." Do it the same day, but don `t cancel your old policy until you` ai puts a new contract. That `s important because some states like New York will fine you for the number of days that you are going without insurance. "One final thought Kummer on the topic:" Most auto insurers specify in your contract that you can cancel your contract every time you want your business by informing them in writing of the date you want the coverage either terminated or you can do it by telephone. 8) Choose an option payment of insurance that best fits your budget. "Generally, most companies give you the option to pay in time, but this comes at a price," says Kummer. "Your payment may increase by a few dollars each time you pay by instalments. Insurers can accept payments monthly, quarterly or every six months, which is more convenient for you. Remember, though, that the more you cut down your payments, the higher the cost rises. "
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