1) Auto Insurance: Securing The Best Deal
Whether you are looking for car insurance because you are buying a car or just want to see if you currently have the best policy, it pays to shop around. Auto insurance rates vary dramatically, so it pays to compare quotes.
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2) Using a Broker
An auto insurance broker represents the buyer and not the insurance company. The broker's job is to get the best policy for the buyer's money by comparison shopping. If your choice is between using an insurance company agent or a broker...
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3) Insurance Limits
Instead of transferring your insurance from your old car to your new car, look around to see what new insurance products are available. You can control some factors that dictate the price you'll pay, including policy limits and deductibles.
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4) Insurance Caps
Auto insurance caps vary from state to state, as do the minimum coverage requirements. Auto insurance caps also vary between companies. Choose a policy with an insurance cap that is higher or lower to suit your needs.
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5) Switching Insurance
Make sure there are no gaps in your auto insurance coverage. Work with your new agent to make sure the new policy starts where the old one leaves off. Your policy must be in effect as soon as you drive off in your new car.
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6) GAP Insurance
GAP insurance is a car insurance policy that covers the difference between the current value of your car and the amount you owe on it. If you're "upside down," that is, if you are in a negative equity situation, you need a GAP insurance policy.
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7) Reduce Your Premiums
You've read every car buying guide you could find and you've followed all the car buying tips to get the best possible price on your new or used car. Now it's time to repeat the exercise to find the best possible auto insurance rate.
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