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How to reduce car insurance premium? 2008-02-20 13:55:00 Most insurance companies agree to reduce the premium if proof, suggesting a low chance for a claim, is supplied. Companies agree to reduce the premium not from the goodness of their hearts but for being more competitive compared to other insurance companies.In every insurance type the parameters to be supplied for reduced premium are different. Specifically related to car insurance, the parameters are:No Claim Bonus (NCB)If you have a clean record of no claims then you can get a discount on your quote. Every insurance company sets the discount percentage per number of years with no claim in more or less the same way.Car specificationThe insurance company, based on your car specifics, determines whether statistically you are more likely to make a claim, or in other words, more likely to have an accident. A safer car, a car with statistically less accidents, will require a lesser premium. Note that a high standard car is not necessarily a safe car: The more powerful is the engine, the fa ...

Car Insurance Coverage 2008-02-12 15:41:00 The sole purpose of an insurance policy is to protect yourself and your family members in the event of loss suffered by you or others. If the level of protection is too low then you might be jeopardizing all you have. Analyze the insurance coverage to determine the level of protection you are being offered.Read the insurance policy and fill out the following tables:Bodily Injury Liability (BI)BI covers the liabilities for the bodily injuries or death of other people for which you are held responsible. BI provides for a legal defense if another person decides to file a lawsuit against you. BI will cover medical bills, loss of income or pain and suffering.Property Damage Liability (PD)PD covers liability for other people’s property damage for which you are held responsible. PD provides for a legal defense if another person decides to file a lawsuit against you. Comprehensive Coverage (COMP)COMP covers your car for losses resulting from incidents other than collision.Collision Coverage ...

Compare Insurance Policies 2008-01-02 09:31:00 Why is it that when two guys compare cars they go into small details that justify the money they spent on it? The talk goes from engine consumption to the luxury that the CD player within the car offers. But when it comes to the car insurance they only compare prices. Why is that?The most probable reason lies in the lack of awareness and knowledge regarding car insurance and insurance in general.What is insurance?Insurance is a contract between you the insurer and the insurance company. The contract is a legal document that sets down the rights and obligation of each side. As with many other legal documents, there can be many tricks and loopholes along the way.The contract, aside from specifying how much premium you (the insurer) have to pay (payment for being insured), determines what the insurance company has to supply under specific conditions.The contract, also referred to as the insurance policy, contains three elements that need your attention:“Premium” – How much do you pa ...