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This is a guest article by Cole Sileven
Did you know that the majority of shoppers buy insurance on the same day they need it? It makes sense doesn’t it? Insurance is the transfer of risk for a set payment or premium. Rates are determined by the risk so if you show you are less risk than the average driver you’ll save more. Insurance companies take into consideration many factors including when and how you shop for insurance.
When To Buy Your Policy:
So lets say you purchase your policy a week in advance. There’s a good chance you may earn a discount for shopping in advance. I’ve seen this first hand, many Insurer’s are using the date you buy insurance as a rating factor. Shopping in advance shows your responsible not to lapse and to take care of things before the last minute. No insurance company likes chasing clients for payment. What are the chances they’ll have to chase an individual who purchases their policy a week or even a month in advance.
How To Buy Your Policy:If there is anyway you can do this, pay for your 6 months or year up front. Coming up with this amount is easy for some and not for others. If you do pay for your insurance up front that relieves the Insurer from having to keep up with payments and payment reminders. You’ll see as much as 10% off and more for paying for your full policy up front. If you pay several hundred or thousands a year on auto insurance, this is definitely the way you’ll want to go. You may even want to designate a credit card for insurance purposes only. Get the paid in full discount while building credit at the same time.
Combine Your Insurance Needs:
In most cases if you combine your auto and home policy with a single company, you’ll see very low rates resulting from the multi-policy discount. Sometimes the rates will still be more compared to your auto policy with Insurer ‘A’ and your home policy with Insurer ‘B’.. Rates will vary from one case to the other. If you currently have you home and auto insurance with two separate companies it’s worth your while getting a combined quote to see if you can save more.
Multiple Insurance Quotes
No matter what you’re in search for it’s always good to comparison shop. The same goes for insurance. By comparing low cost auto insurance quotes, you will more than likely save several hundred a year. Insurance companies rate shoppers differently. One Insurer may favor older drivers while other Insurers may find it more beneficial to give better rates to younger drivers. By comparison shopping you’ll be able to find which insurance company can give you the most competitive rate for the coverage needed.
This guest article written by Cole Sileven from Low Insurance and Security
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