Moneycashfinance

Ten Things That Will Increase Your Auto Insurance Premiums

Every where we turn costs are increasing across the board, including food, energy, and just about any other item you can think of.  It appears now everyone is looking for ways to save money, which is a good idea.  If you are looking to save money on your auto insurance then here are some things you may want to be aware of.

Here are some things that will drive your car insurance premiums up:

1. Getting moving violations such as speeding tickets or failing to stop at a stop sign or running through a red light.

2. Having accidents and then processing the claim through your insurance company. Of course if your insurance company does not know about the accident then it won't affect your car insurance.

3. The neighborhood you live in will drive your insurance costs up. If you live in a neighborhood that is deemed less than desirable by insurance companies it will cost you more. If they determine that your neighborhood has more than it's share of burglaries and auto thefts it will factor into you receiving higher insurance costs.

4. Your age will also determine your insurance costs. The younger you are the more you will pay. Auto insurance premiums tend to be higher for those that are 25 years old and younger. You will see a dramatic difference the older you are.

 

5. Not taking driving courses that are offered.  Taking driving courses can get you lower premiums.  There are also some courses that you can take to have points removed from your driving record which you incurred for committing a driving infraction.

6. The type of auto you drive. Sports cars have a tendency to make you pay more in auto insurance.

7. Men will pay more for auto insurance than women because men are more aggressive drivers.

8. Your luxury auto will cost you more in insurance.

9. Only having one person on your policy cost you more. When you add another individual to your policy with another auto it will decrease your auto insurance. If you have your home on the same policy as your auto this will drive your premiums down.

10. Not having safety features installed in your car like a burglar alarm and air bags.

11. Adding someone to your car insurance as a driver that has a less than perfect driving record.

These will definitely drive your insurance up. I added number 11 as a bonus.

So be careful and make sure you shop around the rates for the best insurance companies. That's another thing not shopping around to get the best rates will drive your insurance costs up. Always ask about your deductible.  For example you have the option of selecting a deductible of $250 versus $1,000. I always select $1,000 as my deductible. Now a deductible is the portion of the expense you are liable for in case of an accident. You must pay your deductible before the insurance company will pay their portion. With a $1,000 deductible you are assuming more of the risk therefore your insurance premium will be lower. With a $250 deductible you are assuming less of the risk and consequently your insurance premium will be higher.

However if you have an accident and your deductible is $1,000 you had better be prepared to pay that deductible.

To Your Great Success

Mel Richardson

Getting Foreclosure Help

If you have been paying attention to the news then you probably know that foreclosures are on the rise and are not likely to slow down anytime soon. Certain states like Ohio and Michigan are reporting substantial job losses. Other states like California, Florida, and Nevada are reporting that mortgage payments in default are increasing. The sub prime lending is in a less than stable situation. (the understatement of the century). We are seeing more people losing their jobs, more delinquent payments, more people unable to refinance due to a decrease in the value of their home and a less than stellar credit record.

People are scuffling to come up with a way to keep their homes in tact and ward off the foreclosure monsters. Others are just giving up their homes and deciding to become renters. The bottom line is people are looking for help with their foreclosures; they are looking for a way to get help and continue on with their lives. There really does not appear to be a reliable source of help on the horizon. We are however hearing about plans being put in place that will at least provide a minimal amount of help to those that are facing the unfortunate situation of foreclosure.

There are plans being formulated that will help those who were previously unable to refinance their homes to refinance. One source of help is coming from the Homeownership Preservation Foundation. This foundation has set up a toll free number which homeowners can contact 24 hours per day. This number is probably going to receive a lot of phone calls because of the dire state of the economy and those fighting off foreclosures. For those that are seeking assistance that number is 888-995-HOPE, (4673). Calling this number should help provide some guidance, assistance, and advice in the form relieving your foreclosure burdens. You never know what can be done, maybe nothing at all but it doesn’t hurt to try.

Also you can get 24 hour online counseling when you go to their website which is http://www.cccshope.org. Go online if you are faced with foreclosure and receive counseling which will at least put you on the right path to deal with the thought of losing your home. You never know how it will turn out if you begin to take some type of action toward salvaging your home no matter how small the effort may appear to be on the surface.

 

 Mel Richardson