5 Ways To Cut Your Auto Insurance Costs Without Sacrificing Protection

These days most of us are looking for ways to stretch our household expense dollars. One big drain on these funds is auto insurance. Her are some quick and easy tips you can use to help you find some savings in your auto insurance budget without putting your assets at risk.

How Far Do You Drive To Work? In the North Carolina Auto Insurance policy there are several different classifications for your driving habits. One focuses on the number of miles you drive to work each day. Of course if you don’t drive to work and your policy is classified that way you can get a reduction by changing the classification to pleasure use. Within the drive to work categories, there are two. One is for those who drive less than 10 miles one way to work and the other is for those who drive more than 10 miles one way to work. If you drive 10 or less miles one way to work, check with you agent to be sure that your policy reflects this classification. Likewise, if you have changed jobs or if your work location has changed recently, make sure you correct your policy.

Watch Those Deductibles. If you have comprehensive and collision insurance coverage on your auto policy, be sure to check them as well. Generally, you want your deductibles to be as high as you could handle in the event of a loss. There are some exceptions to this, for instance once you get to very high deductibles, the savings may no longer be worth it. Also, if you have a very old car and the collision and comprehensive costs are already very low then a high deductible just might not get you enough savings to be worth it. Still, many people have deductibles that are very low and can realize substantial savings by increasing them.

Pay In Full Discount. Some companies are now offering savings of up to 10% if you pay your auto insurance renewals in full. They have found that people who pay in full have less losses and thus should be entitled to a lower rate. If you can afford to do this, you should certainly take advantage of the offer. Some companies are offering as much as a 10% discount when you pay in full. Since there are not many places right now where you can earn a 10% return on your money, this deal is just too good to pass up if you have the money in the bank to do it.

Bundle Your Policies. Almost every insurance company will now offer you a substantial rate reduction if you buy both your homeowners insurance policy and your auto insurance policy from them. You should always take a look at this option since it is rare that you will find these two policies to be cheaper when purchased separately.

Safety Equipment Discounts. Check with your agent to make sure that you are receiving all available discounts for the safety equipment in your car from anti-lock brakes to airbags and automatic seat belts. Most companies apply these discounts by using the vehicle identification number on your car to discover exactly which safety features your car has. So it is somewhat rare for them to miss on these discounts. Still, you should check in with your agent just to be sure that you are getting all the safety discounts you deserve.

At Clinard Insurance Group in Winston Salem, NC, we work hard to make sure that all of our clients are informed consumers who are purchasing the best possible protection at the lowest possible cost. If you need help with either your home insurance policy or your auto insurance policy, please visit us on line at www.ClinardInsuranceGroup.com or call us toll free at 1-877-677-7557.

The source information for this article can be found at www.insuranceanswerguy.com

Automobile Replacement Cost Insurance, a NC Auto Insurance Policy Extra You Should Consider

You’ve probably heard it before; your brand new car drops about 20% in value the minute you drive it off the lot. Let’s face it, the first few miles you drive a new car are certainly the most expensive on a cost per mile basis. And if you borrow money to purchase the new car, you are even more vulnerable. If your new car is totaled, then a standard NC auto insurance policy will not protect you completely, but there is a way to cover yourself more fully.

I’m talking about replacement cost coverage on your new car. You may be familiar with this concept in terms of home insurance. If you house is burglarized and they steal your television set, if you have replacement cost coverage on your contents, then your insurance company will pay to replace your old TV set with a new one. But if your new car is totaled on the way home from the lot, without replacement cost coverage on your car (and most people do not have this protection), then you are paid the used car value of that car at the moment before it was lost. And this won’t be enough money to replace that car with another new one. This seems unfair and I can tell you, to most people who find themselves in this situation, it is unexpected.

Good news though, there is a simple solution. Most insurance companies can offer you replacement cost coverage on your new car. This means that if your car is totaled in an accident, the insurance company will pay for you to replace your vehicle with a brand new one of the same make and model. This is true even if the car is up to 5 years old.

Ok, you probably want to know what the catch is. And there are catches. First of all, this coverage will not apply to total loss by theft. And the insurance company will typically delete this coverage from your car after it gets to be about 5 years old. And, you must add this coverage within a short time of purchasing the vehicle brand new. Usually that time frame is 60 to 90 days. Last of all, you have pay for this additional coverage. The cost is usually around 15% more for your comprehensive and collision coverages.

If you are thinking about purchasing a new car, I would suggest that you seriously consider adding replacement cost coverage to that car on your North Carolina auto insurance policy. At Clinard Insurance Group in Winston Salem, NC, we have several insurance companies who offer this feature. If you have any questions about replacement cost coverage on your car insurance, or if you would like a free auto insurance analysis and quote, please feel free to call us, toll free at 877-687-7557 or visit us on the web at http://www.ClinardInsurance.com.

The source data for this article can be found at www.InsuranceAnswerGuy.com.

The North Carolina Personal Auto Policy – There’s A Hidden Gem In There

If you have a car that is tagged in the state of North Carolina, then you almost certainly have a NC auto insurance policy to cover that car. While car insurance seems like a necessary evil, there is a hidden gem of a coverage in there that might be something that could come in handy for you. At Clinard Insurance Group in Winston Salem, NC, we want all insurance consumers to be informed consumers so take a moment to read this short article to discover and inexpensive coverage that might be a big help to you someday.

The coverage that many people don’t know about but might be of great benefit to them is called towing and labor coverage. This is an add on benefit to your policy that will pay the costs of towing your car after a breakdown or accident, or pay the cost to of labor to have a mechanic come out to your vehicle breakdown site and help you get your car started again. So if you needed a jump start and had to call a mechanic for help, the labor costs associated with this would be covered and if they had to tow your vehicle, then the towing charges would be covered as well.

So what does this cost? In North Carolina the towing and labor coverage on your policy has three different limits so first of all you must choose the limit that will apply to any one breakdown event. Your choices are $100, $50, and $25. The cost per year, per vehicle are $6 for the $100 limit, $4 for the $50 limit and $2 for the $25 limit. Remember that in order to add this coverage to your policy, you must have comprehensive coverage or collision or both on that vehicle beforehand.

You might be thinking that this is not such a great deal because if you file a claim, then the insurance company will probably just raise your rates. Not true. Insurance companies in NC cannot raise your premiums for filing towing and labor claims. If you file too many claims, their only option is to remove the towing and labor coverage from your policy. High claim frequency for just towing and labor coverage will almost never impact the general underwriting opinion of your full auto policy in the company’s eyes.

So take a moment to pull out your auto insurance policy and check to see if you have towing and labor coverage. If you think this coverage is a good deal and might benefit you, call your agent and ask them to add the coverage. In some cases, the additional premium for adding this protection will be below the insurance company’s billing threshold so you won’t even be charged until the next renewal.

At Clinard Insurance Group in Winston Salem, NC, we specialize in helping families all across North Carolina with their insurance needs. If we can be of help to you, or if just want a no charge insurance “second opinion” on your car insurance or your home insurance, please give us a call, toll free, at 877-687-7557 or visit us on the web at www.ClinardInsurance.com.

The source information for this article was drawn from information on the blog at www.InsuranceAnswerGuy.com.