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Tag: auto insurance

Tips: Credit score, insurance score and auto insurance premiums

Tips: Credit score, insurance score and auto insurance premiums

Automobiles
It's not that good or bad credit makes a driver a better driver; it's that insurance companies have found that individuals with poor credit tend to file more auto insurance claims with personal injury or vehicle damage compared to folks with good credit. Therefore, underwriters evaluate each driver's credit history to determine if a driver is considered a high risk from a claims perspective. Drivers with poor credit should expect to pay more for car insurance than their counterpart that has good credit. Insurance companies look at five factors when it comes to evaluating credit and determining whether or not it will affect auto insurance premiums positively or negatively. Payment History Affects Car Insurance Costs When determining an insurance score, companies look to see if the ...
Why You Should Pay in Full for a Vehicle and Avoid Auto Financing

Why You Should Pay in Full for a Vehicle and Avoid Auto Financing

Automobiles
You won’t make the cardealer happy, but you’ll be happier and wealthier if you forgo the auto loan and the extended warranty dealers are always pushing. Maybe you won’t be able to afford the shiny new car of your dreams. But if you buy a used vehicle with the money you’ve saved, you’ll be able to afford much more down the road. You won’t have a payment coupon book to worry about, or the debt that goes along with it. Tips on Buying a Car with Cash Car dealers will try and entice you to finance "See how much more car you can buy! The payments are so low!" Sure the payments are low. Just figure how many years you’ll be paying interest plus principal on that vehicle. Comparison shop before you enter the dealership First, determine the make, model and year of the car you’re i...
Different Types of Auto Insurance

Different Types of Auto Insurance

Automobiles
Car insurance is not only a major industry in the United States, but it is also a necessity and a safeguard for drivers. Liability insurance is required by all states, because it covers damages to others' cars, properties, and persons, but comprehensive and collision insurance are optional. Following are descriptions and benefits of the different types of auto insurance coverages, as defined by Insure.com.   Different Types of Auto Insurance: Liability Insurance This type of car insurance coverage is mandatory. Liability insurance covers the other party in accidents. When a driver causes an accident, damages to others' cars, persons (injuries), or properties (fences, yards, houses) are paid for by the at-fault driver's liability coverage. This is a mandatory type of auto ...