buying A Secret Way to Slash Your Car Insurance Bill

01:55  15 may  2018
01:55  15 may  2018 Source:   moneytalksnews.com

Low-mileage drivers are at lower risk for accidents, but they usually pay just as much for insurance, study says

  Low-mileage drivers are at lower risk for accidents, but they usually pay just as much for insurance, study says When it comes to how much you pay for car insurance, being married and having good credit often matters more than how much or how well you drive, according to a new study. The research, released this week by the Consumer Federation of America, found that major auto insurers provide little or no discounts to low-mileage drivers, even though they tend to have a lower accident risk. The study The research, released this week by the Consumer Federation of America, found that major auto insurers provide little or no discounts to low-mileage drivers, even though they tend to have a lower accident risk.

Motorists have been hit hard in the pocket over the last 12 months in a lot of ways , but two particular costs stand out: stubbornly high petrol prices and car insurance premiums.According to the AA, while insurance premiums are falling, they remain a huge cost for I instantly no about this secret .

Related: The Shocking Secret About How Your Car Insurance Rate Gets Set. Related: 21 Ways to Slash Your Car Insurance Bill . Even if you’ve recently shopped around for insurance quotes, going through the process again a few months later might yield additional savings.

Savvy shoppers know that membership in an organization such as AAA or AARP comes with a wider variety of benefits than most of us realize. But even the shrewdest consumers overlook some perks that can save them a bundle.

For example, if you are a member of some nonprofits or clubs, you are eligible for price breaks on car insurance that could put a nice dent in your driving expenses. In fact, a bunch of organizations offer this membership perk. They include:

These Are The Cheapest And Most Expensive Cars From 2006 To 2016 To Insure

  These Are The Cheapest And Most Expensive Cars From 2006 To 2016 To Insure Buying a car that’s 10 years old isn’t a huge risk anymore. What’s cheap and what’s expensive to insure? Insurance resource company Insure.com recently released a list of cars from 2006 to 2016 that it found to be the least and most expensive to insure. It compiled this list by comparing rates through using an identical driver profile for all the cars “at six major insurance carriers in multiple ZIP codes in each state and the District of Columbia.

Even though prices at the pump rise during peak driving season, you have other ways to keep more money in your wallet. It starts by calling your car insurer. State Farm provides reductions up to 22 percent if you have homeowners, renters, condo or life insurance with the company.

Car insurance providers don’t have to have it all their own way with high insurance costs. There are things that you can do to keep your car insurance premiums right down. We’ve got some secrets for you below to help your wallet and squash down those monthly costs.

1. AAA

The nonprofit AAA offers car insurance discounts to members. The details may vary from one regional AAA club to another.

For example, AAA members in my area can save up to 7 percent — $531 a year, on average — by switching to AAA Insurance.

2. AARP

This nonprofit for folks ages 50 and older offers members a couple of ways to save on car insurance:

  • The AARP Auto Insurance Program from The Hartford
  • AARP Massachusetts Auto Insurance Program from Plymouth Rock Assurance

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3. Alumni associations

If you belong to an alumni association — or if you have the option to join one — ask either the association or your current car insurance company whether discounts are available to alumni association members.

What Is Gap Insurance (And Why You May Need It)?

  What Is Gap Insurance (And Why You May Need It)? It helps protect motorists who are "upside down" on a lease or car loan.If you’re buying or leasing a new car or truck these days, you’ll likely be offered – perhaps required to purchase – so-called gap insurance. This type of policy covers the difference between what a given vehicle is worth and what the owner or lessee still owes on it, should it be stolen or become totaled in an accident. For the record, “gap” stands not for the above imparity, but for Guaranteed Auto Protection.

Hence, another way to slash your car insurance bill is to simply opt for a car driver who is above twenty-five years of age. Similarly, if you yourself happen to be the driver and at the same time are less than twenty-five years

Car Insurance . But before we get to the Big Reveal, to the deep dark secret that can save you so much instantly, let’s look at a few more ways that almost every single homeowner can save even MORE month after month.

For example, the benefits of membership in the alumni associations of Pennsylvania State University and San Francisco State University include a special discounted rate on auto insurance with Liberty Mutual.

Geico also offers savings to members of alumni associations, all of which are listed on Geico’s “Alumni Associations, Colleges, And Universities” webpage.

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4. Wholesale clubs

If you belong to a wholesale club, look into or ask about car insurance discounts for members.

Costco, for example, partners with Ameriprise to offer auto insurance discounts — with members saving an average of $542 the first year they switch. Note this auto insurance program is unavailable in a handful of states and Puerto Rico, however.

Similarly, BJ’s partners with Geico.

5. All kinds of other organizations

If you belong to something — seemingly anything — there very well may be an insurer out there with a car insurance discount for you.

The insurance information website EverQuote reports that other types of organizations that may offer the membership benefit of car insurance discounts include:

  • Business groups
  • Military organizations
  • Recreational organizations
  • Fraternities and sororities
  • Honor societies

For more ways to save on car insurance, check out “The Complete Guide to Getting the Best Possible Deal on Car Insurance.”

Declining Rental Car Insurance Abroad? Know the Risks .
You’re on an overseas trip and about to rent a car. You decline the additional insurance offer and mentally high-five yourself for saying no because your credit card offers primary rental coverage. Not so fast, smarty-pants.Although the Nerds are generally fond of credit cards that offer some form of auto rental insurance, be aware that even if you have primary coverage via your card, you might still want more, especially when traveling internationally. Here’s why.

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