Getting an Auto Insurance Premium You Can Live With

If you drive, you’re probably paying for auto insurance. If you don’t have it yet, you almost certainly should get it, because getting into an accident without insurance can be financially devastating. Just because you are resigned to paying for auto insurance, however, doesn’t mean that you shouldn’t  try to pay as little as you possibly can. There are a few things you can do to lower your premiums while still keeping the coverage you need. 

The group with the highest premiums are teenagers, but there is a way to offset that a bit. By keeping a high-grade point average and taking a driver’s education course, you can usually save a fairly good amount on auto insurance premiums. Some companies will actually offer a discount for good grades for older adult students, too, as well as for those who take a driver safety course at any stage of life.

It goes without saying that being a safe driver can save money on insurance premiums, but so can driving a safer car–you might want to keep this in mind when car shopping  It also pays to shop around for the best insurance rate. With that in mind, you might want to shop for auto insurance along with home insurance or life insurance, because bundling different insurance with the same company often offers the best discounts of all.

One final trick to keep in mind is to control your own premium by limiting your coverage to just what you need and controlling your deductible. When you buy a car, your finance company will require you to keep comprehensive and collision insurance, but if you keep the car long enough, it’s value won’t be enough to justify those coverages. You might also start out with a low deductible, but once you have enough money in savings to cover a higher deductible, you might choose to raise it to save money on your premiums. To learn more about saving money on insurance, talk to the experts at XL Brokerage Inc., serving Selden, NY.

Don’t Rent Without Renter’s Insurance

If you rent your dwelling space then you may be of the mind that you don’t need any type of insurance because surely your landlord already has insurance on the place.  However, you may not be aware that any insurance held by your landlord may not cover any of YOUR personal items.  In that case, what would you do if:

  • Your home was damaged by water?
  • A guest injured herself on your property?
  • You got robbed?
  • Your apartment burned to the ground?

Without having any sort of renter’s insurance, you will not have any coverage for the loss or damage of personal property.  It is a good thing then that you can get renter’s insurance at an affordable price to make sure that in cases like these, you are protected. 

Many times, people tend to think that they might not have enough belongings to make having a renter’s insurance policy worth it.  Take a minute though and think of the things that you own.  What have you got that you can lose?  This can include things like:

  • Furniture
  • Clothing
  • Computers
  • TVs and entertainment systems
  • Jewelry
  • Sporting equipment
  • Musical equipment
  • Music players like iPods and such

How much would it cost to replace all of those things?  Now ask yourself again if renter’s insurance is worth it.  You might find that your answer has changed.

Your actual policy will tell you what is and isn’t covered.  Normally this would include damage from things like fire or lightening, storms, smoke damage, theft, vandalism and more.

If you are in the Selden, NY area and would like to know more about how to protect yourself and your belongings, call or come by XL Brokerage Inc. where we have friendly and knowledgeable agents ready to answer your questions and get you covered.