Saturday, October 25, 2014

Thrifty Thinking: Car Insurance

Life changes quickly. Luckily many of those shifts can have a positive impact on the family budget, specifically in reducing car insurance rates. That’s why experts recommend reevaluating your policy once a year, but until now there wasn’t an efficient way to do so.
As an independent, unbiased resource for auto insurance rates and information, Goji has created an online comparison that lets drivers quickly navigate the most accurate policy and price options across major carriers, with the added benefit of personalized and objective advice from licensed agents. Through Goji, about 85 percent of drivers will find a price that’s lower than what they’re paying today for the same coverage or better.
The experts at Goji point out these five milestones that can equal big savings on auto insurance:  
·         Getting Married or Buying a House:  When it comes to insurance, combining policies often gets a couple better rates and coverage than if they remain separate. The cost can be further reduced by grouping auto and home insurance
·         Having Children:  Parents often switch to a more practical car with a good safety rating – trading in that sports car for a minivan can dramatically decrease a premium
·         Teenage Driver in the House:  Adding a teenager to a policy will raise the cost but some carriers offer discounts that can help ease the rate hike such as a “good student discount” for students maintaining a B average or higher
·         College-Bound Kids:  Parents with kids going to college can actually save money. Premiums can be reduced by 10 to 20 percent if the student attends a college more than 100 miles away from home. If a child is leaving for college and takes their car, parents should be to alert their insurer – keeping them in the loop can be beneficial

·         Owning to Financing:  After upgrading to a newer vehicle with more value, most lienholders will require you to carry comprehensive and collision coverage, which will result in an increase of premium. That means it’s important to comparison shop for the best new price.  

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