Bad Credit Auto Insurance - How to Get the Best Rate

Having bad credit doesn't make you a bad driver, but it will raise your auto insurance rates. Here's how to get a cheap rate on bad credit auto insurance.

Bad Credit Auto Insurance

As strange as it may sound, your credit rating directly affects your auto insurance rating with some companies. Auto insurance companies have figured out that people with bad credit file 40% more claims than people with good credit.

If you have bad credit your insurance could cost you 20% to 50% more in insurance premiums than someone with good credit.

The good news is not all insurance companies use your credit rating as a factor in determining your insurance rating, and some states won't allow insurance companies to use it. So if you've been labeled as a bad credit risk, or suspect you may be, you should shop around for auto insurance with other companies.

There are websites where you can get auto insurance rates from a number of A-rated companies, and also get advice from insurance professionals, absoluelty free of charge. All you do is fill out a simple questionnaire about the type of car you own and the type of insurance you want, wait for your quotes, then choose the best one. (See link below.)

Lowering Your Auto Insurance Rate

In addition to comparison shopping, here are some other ways to lower your insurance rate:

Raise your deductible - Raising your deductible can save you hundreds of dollars a year on your insurance premium. After a while the money you save on your insurance premium will more than make up for your deductible.

Drop your collision and comprehensive coverage - If you drive an older car - particularly if your car is worth less than the total of your insurance premium plus your deductible - consider dropping your collision and comprehensive coverage as repairs may cost more than your car is worth.

Consolidate your insurance policies - Purchasing your homeowners insurance (or renters insurance) and auto insurance through the same company can get you a 5% to 15% discount on your premium.

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How to do Cheap Auto Insurance!!

As a car driver you probably want to get the cheapest auto insurance online. Lets face it, there is no need to be over spending on something that you can get for dirt cheap, right? Unfortunately for many drivers out there, they always seem to get hit hard when they receive their monthly insurance premium bill in the mail.

And many car drivers that are in the same shoes as you are actually paying at least 25% more than what they are supposed to pay on their car insurance. And not until they decide to take action years later to get cheap auto insurance at the right places, they then realize that they have been throwing thousands upon thousands of dollars out the window.

So in order to help you get the cheapest auto insurance online, here are a few tips that you can take advantage of so that you can finally get the cheap auto insurance that you deserve.

1. If you want to get the cheapest auto insurance online, make sure that you take a look at your dmv record. In some rare cases there might be errors in your record. Your car insurance company usually goes off the information that is given to them from the dmv. If there happen to be invalid claims and accidents that you had no idea was on your driving record, you will find yourself paying a lot more than you should to the tune of thousands of dollars on car insurance.
2. Take advantage of websites that offers multiple quotes all in one place. These types of car insurance websites gives you multiple quotes from affordable car insurance companies after you enter the basic information needed only once. Not only are these types of websites time savers, they are money savers as well.

By taking advantage of these two suggestions today, you will be on your way to getting the cheap auto insurance that you deserve.

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National Auto Insurance Rates Rise by One-Fifth of 1 Percent

 

The Bureau of Labor Statistics (BLS) on Wednesday released the latest monthly update to its Consumer Price Index (CPI) report, which indicates that Americans saw motor vehicle insurance prices in May that were 0.2 percent higher than in April.

According to the report, May 2011 car insurance policy costs were 3.8 percent higher than in May 2010.

The upward trends in premiums are similar to those of all items documented in the CPI. Between April and May, prices for all goods rose by about one-half of one percent. Between May 2010 and May 2011, the prices for all goods rose by about 3.6 percent.

[Check out "BLS: Price of Auto Insurance Rose Slightly from March To April" to read the article on last month's report]

About the BLS’s Motor Vehicle Insurance Price Index

The BLS publishes monthly CPI updates meant to track and give data on changes in inflation and the cost of consumer goods in America over time. The CPI data referenced here to compare auto insurance prices are representative of coverage costs for an estimated 87 percent of the U.S. population.

Policy-price data compiled in the CPI is collected from a sample of insurers in 87 pricing areas. Premium levels are determined by looking at a sample of 768 individual private passenger policies or quotes. The CPI actually tracks the costs of these policies over time. Changes reflect fluctuations in insurers’ premium-calculation formulas, as well as increases in state-mandated minimums for coverage.

According to the BLS, “The major types of coverage included are collision, comprehensive, bodily injury liability, property damage liability, medical payments, uninsured motorist and personal injury protection.”

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5 Factors to Determine your Car Insurance

 

Here are the top 5 factors that affect car insurance premiums:

• Gender:  like age, there is really nothing you can do about this. Men are generally perceived to be the potential dangerous drivers and not the females. hence, females get lower rates.

• Age: younger drivers, particularly teenagers, receive higher premiums for nothing else but age. Inexperienced drivers also receive this because their not yet considered mature with their driving. There is really nothing that can be done about this: you get older, you get better at driving and your rates will eventually go down.

• Type of Vehicle: we would all love to cruise around on a Pontiac Solstice or Porsche Boxter but you wont believe the kind of rates these kinds of cars get. If you want lower premiums, get a car with a lower price.

• Auto Insurance Companies: now this is something you can control. Despite the determining factors, some companies just offer lower rates than others. Its up to you to choose.

• Driving Violations: this is another thing you can certainly control. While it may be so tempting to race around town upon getting your license, a police ticket is not worth it. It may be a single ticket, but it can do wonders to your insurance premiums as insurance companies keep track of your driving record.

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Progressive Insurance Co. Launches Hiring Blitz

Auto insurance provider Progressive announced this week that it has plans to hire a total of nearly 400 people by the end of next month.

The car insurer will be spreading the new hires across four call center locations: Tampa, Fla.; Colorado Springs, Colo.; Austin, Texas; and Cleveland, Ohio.

Progressive plans to hire 110 in Tampa, 95 in Colorado Springs, 65 in Austin and 125 in Cleveland.

All of the positions to be filled are in sales and customer service. All require “a minimum of two years’ post-secondary education or two years’ work experience in a customer service environment, along with proven job stability of at least one year with a past employer.”

Progressive has been gaining customers and prominence in the automobile insurance coveragemarket in recent years.

Between 2007 and 2010, annual net premium for the company grew by about 5 percent, from $13.8 billion in 2007 to $14.5 billion in 2010.

According to the National Association of Insurance Commissioners (NAIC), Progressive was the fourth-largest writer of private passenger auto policies in 2010, trailing behind only State Farm, Allstate and Geico. The ranking was based on total premium dollars written.

Of the $165.48 billion in total private passenger policy premiums written in 2010 that are accounted for in the NAIC statistics, Progressive wrote about 7.7 percent.

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list of car insurance companies

A list of auto insurance companies is a good place to start your research on car insurance providers. Be sure to check the company's ratings before you make your final decision regarding what company you will use to purchase your car insurance.

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Auto Insurance Tips – Getting the Right Help and the Best Deal

When one compares automobile insurance coverage prices, one ought to look into several insurance providers. Auto insurance is a must have if you have a vehicle such as a motorcycle, truck, van, or car. Auto insurance corporations do offer certain discounts to customers because they’re merely running digital offices or websites that only need little overhead or perhaps costs.

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Get the Best Personal Injury Lawyer to Represent You

Are you looking for a Surrey Injury lawyer because you have suffered a car accident recently? A vehicular accident is usually a very traumatic experience because it leaves you with a lot of physical and psychological wounds. If the collision was a particularly bad one you might have to deal with its effects for a long time to come. The reason you need a good attorney is that insurance companies will not release compensation payments to you easily and even if they do, the amount will not necessarily cover all your expenses.

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Starting Your Car Accident Claims the Right Way

The best way to get more money from your auto accident settlement is to begin your compensation claim the right way.
The following are the steps you’ll want to follow when starting your auto accident claims against another vehicle owner’s insurance:

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3 Easy Ways to Increase Your Auto Accident Claims Settlements

Getting money from your accident claim is hard. Insurance companies are known to downplay the amount of your vehicle accident damages and accident injuries. Some insurance providers even fight you over how the vehicle accident occurred. This results in you feeling frustrated and getting significantly less money from your car insurance claims.

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How to Obtain an Online Car Insurance Quote

Getting car insurance these days is not anymore a pain in the neck. Gone are the days when you need to be physically present or be placed on hold for an hour or so on the phone just to get an insurance agent answer your inquiries. An online car insurance quote is now readily available which you can do in the convenience of your own time and space.

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