Insurance Blogs

Everyone is always trying to think of new ways to save money in these days of hard times. One of the first things you could do is look at your auto insurance policy and see if you can make some cutbacks in that area. The deductible on your collision and comprehensive coverage are two places where that might be possible. You need to take a couple of things into consideration before you make any changes. There are so many variables involved such as how much your car is worth, the costs to repair your car if damaged, do you live in a high crime neighborhood or are you in a gated community. Statistics have shown that the average driver has some kind of comp or collision loss every 7-10 years. You could save $75 per year if you doubled your deductible thereby saving $750 after 10 years. Then if you had an accident you would only have to pay $500 which would be a savings of $250. This might not seem like much over a 10 year period, but every little bit helps.

The answer to whether or not you should request a vehicle history report when purchasing a used car, or course, should always be yes. It is an inexpensive way to make sure that you are getting what you’re paying for. With modern technology a car can be repaired to the point where you can’t tell it was ever in an accident. Also, odometers can still be turned back so you can never be sure what the true mileage is without a history of the car. There is no excuse for you to get stuck with a lemon when you have the tools to check out a car before you purchase it. A check to Carfax for $30 is a small price to pay to make sure you’re getting a reliable car.

To reach a decision about purchasing an extended warranty on a used car takes a little more thought. There are restrictions on these warranties such as where you can have you car repaired, they will not pay you until you have paid for the repairs yourself, they have to approve the repairs first, and the deductibles will be on a per part basis not a per visit one. This turns some people off to even purchasing a warranty and they make the decision to just pay for any repairs themselves.