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fixed or escalating rates? which one would you prefer?

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Posted: Wed Jun 10, 2009 1:06 pm   Post subject: fixed or escalating rates? which one would you prefer?   Should one go for the fixed-rate auto insurance? Or would you guys suggest that he goes for the escalating rates? _________________ Register Now to have your Insurance queries solved.	BarbieL Guest
Posted: Thu Jun 11, 2009 8:45 am   Post subject:    Hey Barbie.. An annual escalation increases your insurance premium by a certain percentage rate every year. This interest rate may vary depending on the interest rate situation. So, you'll surely gain as a policy holder when the interest rate falls down. On the other hand, you'd need to worry if it goes up. Thanks, Roddick	roddick Senior member Joined: 05 Oct 2005 Posts: 962 143.16 Dollars($)
Posted: Thu Jun 11, 2009 9:19 am   Post subject:    Why would someone opt for escalated rate auto insurance when the car value would depreciate with the use? Again, I'm not sure about the interest rate part. I think two issues have got mixed in this question; insurance and auto loan. The escalated rate or fixed rate might apply to the auto loan but it wouldn't affect the premium rate.	kelvin Senior member Joined: 22 Nov 2005 Posts: 207 37.90 Dollars($)
Posted: Fri Jun 12, 2009 10:35 am   Post subject:    Kelvin, it's quite expensive as compared to the yearly escalation fee when there's no hike in terms of our interest rates. It's a fixed amount that I'd need to pay every month irrespective of my probability to meet with an accident. Why do I opt for that? _________________ Register Now to have your Insurance queries solved.	Circus_Jones Guest

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