Month: April 2017

How to Reduce Car Insurance Premium?

Your car is an asset as long as it has a car insurance policy. It is mandatory that you must hold car insurance policy if you are the owner of a four wheeler. Spending for unforeseen circumstances / repairs can pinch your pocket, but it is for your good. You cannot forego paying for an insurance, but can definitely reduce the car insurance premium.

How to Cut Car Insurance Premium

Have a look at the following points to know how?

  • Sidestep the extra benefits that insurance companies offer. This will help to keep your expenses within budget. Therefore, pick up only those features that are going to be useful to you in your future driving.
  • Keep a track of your renewal of car insurance in order to avail the benefits and discounts. If it lapses, you lose out your no-claim bonus advantages. You have to pay once again for your car inspection fees and lose out quite a margin of money on that. Moreover, you do lose on the accumulated bonus that you had earned in the previous year.
  • If you are confident of your driving, opt for voluntary deductible plans. Higher the voluntary deductible, lower the premium. The deductible is an amount you pay as a policyholder when making a claim. There is no harm going nil with voluntary deductible except that your premiums will be way too high. Thus, the suggestion of getting higher voluntary deductibles!
  • Get to the core of the plans when an insurance company offers you four wheeler insurance. They consider the age of your car, the car type (diesel or petrol- diesel car premiums are more than those petrol cars), usage of the car (long drives or city tours) and much more while calculating the premium amount. Understand the scope of it prior to getting your four- wheeler insurance.
  • If you get yourself registered under Automobile Association of India, you get 2.5% discount on OD premium on car insurance. In addition, you are under their surveillance, which means, your track record if stays good, fetches you a huge discount on your car insurance premiums.
  • Cars having a safety lock, airbags and anti-theft alarm and devices attract lesser premium rates.
  • Try achieving the NCB (No claim bonus) zone. If you haven’t claimed any of the insured amounts for a year or couple of years (as may be set by the insurer), you earn NCB and get a discount for your forthcoming years.
  • Set an Insured Declared Value that is just right for your four-wheeler. You can always opt for a slightly lower IDV for your car, to pay a lower premium. Remember, IDV is the maximum you could receive, in case your car was to be completely damaged.
  • An important aspect that you should keep in mind when buying a new car and getting the car insurance is retaining the same policy; you will also be eligible for NCB. Besides this, the bonuses, discounts, and other advantages can be levied on the new car.

Important Reasons to Fix Your Credit

You may feel that a little slip in your credit score is no big deal, but it can have a bigger impact than you think. A bad credit score can impact almost every area of your life. It might be time to consider getting the help of a credit repair expert.

Point Loss Mistakes

There can be items placed on your credit report that you have no knowledge of, nor given consent. These negatively impact your overall credit score. Mistakes are not uncommon. If you feel that you have items you did not subscribe to, purchase or miss payments on, get with a credit repair specialist.

Refinancing and Home Mortgage Options

You will not be able to get a home mortgage or refinance an existing one with a poor or bad credit score. This can leave you stuck with getting a sub-prime high-interest mortgage, or unable to refinance into a better interest rate on an existing mortgage. This can mean paying thousands of dollars more than intended over the life of the loan. It has a very real impact on your wallet and budget.

Home Rental and Lease

You will have a hard time renting or lasing a home, office or vehicle if your credit score is low. Most businesses that rent or lease any items check your credit first. If there is a history of slow or no pay, you will most likely get denied. This is why many adults are being forced to move back in with aging parents. It can impact housing and transportation, forcing you to live in a dependent situation for years.

Securing Employment

There are jobs that will run a credit check to see if you are in a heavy amount of debt. This is appropriate if you will be dealing with large sums of money. They want to know that you are a fiscally responsible person. Having and maintaining a poor credit score can directly impact your career path and the ability to support a family. This may not seem like a big deal if you are single, but what if you consider getting married, or starting a family?

Get Free of Old Debt

Old debt that has been hanging on your credit report for years can be removed. There is no reason to keep carrying around financial baggage, when the right credit repair company can get the items removed. You can start a new financial future that is brighter and full of newly acquired wisdom.

Contact credit professionals like find out how to fix your credit today!…