Keeping your premiums from rising? It can feel like playing a game in which the rule maker refuses to tell the rules.
* If you have good credit, you pay less on car insurance.
Almost all car insurers, including five pull your credit report.
Why? Studies have shown a direct correlation between your credit score and the likelihood that you will apply.
Car Insurers also know that if you pay your bills on time and had the same credit accounts for a long time, you are more stable than someone who pays late and frequently opens and closes accounts.
Auto insurers use this information to create your “insurance score” which is one factor that determines your auto insurance rate
* You’ll pay for your friend’s bad driving, too. If your friend borrows your car and crashes it, you’ll need to apply car insurance companies.
Tip: If your friend had no permission to take your car, in most cases will not be liable for damages. But if your friend is uninsured and causes damage that exceeds the limits of its policy, the injured party can come after you for medical expenses and property damage.
* Your car is a real value
every auto insurance company has its own proprietary list of car values.
Company car insurance May also ask local dealers what they would charge for similar replacement car.
Tip: If you disagree with your car insurance value determination, there are several things you can do:
Next time, get a gap insurance. It wil l pay the difference between what the car insurer will cover and what you owe.
If you have maintenance records that show that you had the oil changed every 3000 miles and you had a routine check auto mechanic.
If you are paying premiums to special parts or upgrades, make sure you are involved in a car insurance company ratings. … Read More
