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 Posted: Tue Jul 27, 2010 11:02 am Post subject: Can I convert latest car insurance into a cheaper one? |
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I think it's better to shop for cheaper car insurance rather than trying to reduce the rates (invain) with my current company..anything that you may like to suggest!
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Ringofan
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| Posted: Tue Jul 27, 2010 1:46 pm Post subject: |
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| Quote: | | cheaper car insurance |
There's really no such thing. You generally get what you pay for. Want to pay less? Lower your coverages.
But when you lower your coverages, you often get the privilege of paying more. Not to your insurance company, but to the parties whom you injure or whose property you damage or destroy.
Consider this: in California, a person can obtain a personal auto policy with minimum liability limits of $15,000 per person/$30,000 per accident and $5,000 for property damage. A large percentage of vehicles on the road in California are under 5 years old. There is virtually no vehicle on the road in California 5 years old or newer that suffers less than $5000 damage in the standard 5 mph bumper crash test. Most people drive faster than 5 mph (even in rush hour traffic). So how much damage with the typical bumper to bumper crash cause?
Save a couple of hundred dollars every six months, and get the privilege of paying several thousand dollars for the damage you cause to someone else's new car.
So, go ahead, get your "cheaper car insurance" -- just let me know where and what you drive, because you probably won't be able to afford a collision with my 2005 Buick Rendezvous.
The better plan is to determine what amount of coverage is right for you, THEN seek the lowest rate for that coverage. Minimum limits in most states are ridiculously low, so do yourself a favor and obtain more than the minimum.
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MaxHerr
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| Posted: Tue Jul 27, 2010 4:13 pm Post subject: |
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| Nothing wrong with that... other then you need to know what you are getting for your dollar and why it's less expensive (many policies don't cover as much, limits are reduced, deductibles are increased, etc). Some insurance companies are going to be more aggressive in certain areas. Perhaps they want to move into a certain area and increase their presence. Perhaps they figure the risk is lower for a certain demographic. But many times the policy coverage may be reduced or they offer lower rates to start with and then they increase. |
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tcope
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| Posted: Wed Jul 28, 2010 10:33 am Post subject: |
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| Quote: | | But many times the policy coverage may be reduced or they offer lower rates to start with and then they increase. |
That's true with many of the carriers out there. I'd also suggest all new applicants to read through the policy papers very carefully. Some times the conditions seem quite less, while in reality they're spread over the entire agreement. |
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steven
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| Posted: Thu Jul 29, 2010 9:33 am Post subject: |
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| Quote: | | Minimum limits in most states are ridiculously low, so do yourself a favor and obtain more than the minimum. |
I'd definitely agree with you in this regard. I'd rather consult with my advisor before I decide on my coverage options. |
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roddick
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| Posted: Fri Jul 30, 2010 6:45 am Post subject: |
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There are some benefits of opting for a policy that has to be renewed annually. If you opt for a policy that has to be renewed after every 6 months, then your rates would be different.
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sil
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| Posted: Sat Jul 31, 2010 1:40 pm Post subject: |
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| I guess there are certain companies who'd offer auto insurance discounts if you're affiliated with listed organizations. Such group discounts are available with credit unions or even for possessing certain credit cards. |
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JeremyHolter
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| Posted: Sat Jul 31, 2010 9:47 pm Post subject: |
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| Quote: | because you probably won't be able to afford a collision with my 2005 Buick Rendezvous.
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Oh..my!! What a statement!! No..sometimes car insurance is NOT cheap...depending on your driving record. I know a few people who have very cheap auto Insurance (paying little to nothing). However.....teir coverage is very 'cheap', as well. |
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sdchargersfan
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