Car Selling Tips | Auto, Car & Truck Insurance Secrets

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Auto Insurance Secrets for Cars & Trucks

Let's face it, we all need auto insurance. In fact, without it, you could be in serious financial trouble if you have an automobile accident -- even bankruptcy. Why chance it?

Worst of all, you could injure someone, even someone close to you. Automobile injuries can be serious and can cost thousands of dollars in medical bills and hospital bills. That's why we researched ways to make insuring your vehicle more affordable and easier. Let's take a look at the landscape:

Credit and Insurance: If you have good credit, switching insurance companies might be your best option. Almost all insurance companies say they can save you about $300 a year or $25 per month off your current carrier. If you have marginal credit, the savings will typically not be there for you and you may see and increase in rates as well as an inquiry on your credit.

First Year Discount: Fact is, if you have good credit as insurance companies can discount the first year to achieve the reduced rate. Beware though because prices will soon rise and you'll be faced with another round of increases at your renewal date.

Find a Car with Top Safety Features: In a recent study, Volkswagen and Hyundai were tops as the safest cars. Along with their relatively low cost of repair, it makes these cars top picks when attempting to reduce your insurance costs as premium prices are related to cost to repair the vehicle as well as its safety rating.

Raise you Deductible: If you're in good financial standing, try raising your deductible. Beware: If you have a loan on your vehicle, you'll need to check with your bank first to make sure they'll accept a larger deductible. Some banks will not allow you to carry a deductible larger than $500.

Change Jobs? Sound insane but if you are a lawyer, attorney, judge, executive or business owner, you'll pay about 50% more in insurance than pilots, navigators, actors, scientists and artists. If you are a lawyer or an executive, you'll probably make more money annually but you'll also pay more. So for our final suggestion, we recommend and your local flight school.