Auto Insurance

Category: Finance, Financial Planning.

Here are some more ways to save a few dollars: Car Repairs.

The most important step that you can take to save money on these repairs is to find a skilled, honest mechanic. Consumers lose billions of dollars each year on unneeded or poorly done car repairs. Before you need repairs, look for a mechanic who: - is certified and well established; - has done good work for someone you know. Auto Insurance. And. - communicates well about repair options and costs. You can save several hundred dollars a year by purchasing auto insurance from a licensed, low- price insurer. Then call at least four of the lowest- priced, licensed insurers to learn what they would charge you for the same coverage.

Call your state insurance department for a publication showing typical prices charged by different companies. Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverage to at least$ 500 or, if you have an old car, dropping this coverage altogether. Make certain that your new policy is in effect before dropping your old one. Taking these steps can save you hundreds of dollars a year. Homeowner/ Renter Insurance. Ask your state insurance department for a publication showing typical prices charged by different licensed companies. You can save several hundred dollars a year on homeowner insurance and up to$ 50 a year on renter insurance by purchasing insurance from a low- price, licensed insurer.

Then call at least four of the lowest priced insurers to learn what they would charge you. Make certain you purchase enough coverage to replace the house and its contents. "Replacement" on the house means rebuilding to its current condition. If such a publication is not available, it is even more important to call at least four insurers for price quotes. Make certain your new policy is in effect before dropping your old one. If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy. Life Insurance.

If you want to buy a whole life, or other cash, universal life value policy, plan to hold it for at least 15 years. Check the National Association of Insurance Commissioners website or your local library for information on the financial soundness of insurance companies. Canceling these policies after only a few years can more than double your life insurance costs.

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