Economy Auto Insurance

Sound knowledge of how car insurers decide on the premium for auto insurance can help you find the best economy auto insurance deal. Economy car insurance is a result of a careful purchase and usage of a vehicle. One can decrease the premium of a car insurance policy by working on factors ranging from the model of the car to the amount of deductibles.  

ECONOMY AUTO INSURANCE: TIPS

Before agreeing to economy auto insurance, car insurers look at different areas to gauge the risk of insuring the vehicle owner/driver. They even study the credit report to see the possibility of a driver missing out a premium payment. Knowing the factors that determine the premium can help you decrease the rate. Here are some tips that can help you in bringing down the premium:

• Improve your image through controllable factors: Factors such as the mileage, frequency of driving, model, security features and dents and repairs are what a car insurer looks into before deciding the premium. For instance, the premium is lower for cars that have anti-theft devices installed. Therefore, ensure that you look into all such factors in order to lower the premium of the cover.
  
• Use one insurance company for all covers: Buying car insurance from the same insurer that covers you health, life and other covers is the best way of getting discounts by virtue of volumes. Insurers encourage such moves and offer lower premiums.
  
• Discuss with experts, friends and colleagues: People are always on the look out for economy auto insurance. Therefore, make use of their research and inquire about their insurer. Also, talk to experts about more ways of decreasing the premium, such as increasing your deductibles. Ask for references from vehicle showrooms.
  
• Compare and then shop: Do not buy the first attractive car insurance that comes your way. Due to intense competition in this segment, car insurers try to attract clients through different prices. Therefore conduct thorough research before buying an economy car insurance.
  

Adding your children’s names in the policy can help you get discounts as well. If your children travel without a car to schools that are located at a distance, car insurers decrease the premium to compensate for the daily traveling expenses borne by you.

Following the above tips will ensure a lower premium and will help you find the best economy auto/car insurance.

Economy Travel Insurance

It has become easier to find economy travel insurance with the increasing penetration of the Internet. There are several websites enabling you to compare prices and coverage of different insurance polices. While these sites make identifying an economical policy easy, most people are not aware that the best way to save on travel insurance is to consider existing policies.

Our existing insurance policies (such as life insurance and medical insurance) cover us for areas similar to those covered by travel insurance. So, purchasing travel insurance without considering existing policies may result in money spent on duplicate coverage.

ECONOMY TRAVEL INSURANCE: WAYS TO LOWER COST

Besides studying the details of existing insurance policies, here are some other ways of lowering the cost of travel insurance:

• Compare the cost of travel insurance from various insurers and agents. Commissions and other hidden charges may make a policy expensive without you even realizing it.
  
• Ask your existing insurers for travel insurance. They often give you discounts by the virtue of volume.
  
• Form a group of people traveling to the same destination. Group travel insurance is cheaper than individual travel insurance.
  
• Increase your deductibles.
  
• Purchase a customized travel insurance policy. Purchase a policy from an insurer that will tailor the policy to suit your individual requirements and circumstances. A one-size-fits-all policy may have covers that you might not need.
  

ECONOMY TRAVEL INSURANCE: THINGS TO CONSIDER

Most insurers that offer economical travel insurance exclude some crucial coverage from the policy. These may be:
·        Default of carrier: Excluding this means that losses arising out of the tour operator or the airline going out of business will not be covered.
·         Pre-existing medical conditions: Leaving this out might prove costly, as the probability of a pre-existing medical condition being aggravated by travel is higher than the probability of suffering from a new ailment.

Consider the excesses or deductibles before purchasing a travel insurance policy. Some policies charge you multiple excesses for the same claim event, making the policy expensive.