7 Strategies for New Car Buyers
January 24, 2010
New car shopping can be a lot of fun, especially if you’re a car enthusiast. But others can find the experience stressful and tedious. Either way, there’s a lot to think about. According to a survey of car shoppers, overall purchase price is the most important factor when shopping for a new car (46 percent), followed by make and model (31 percent).
Safety and performance come in a distant third, tied at seven percent. But whether you’re turned on or turned off by the dizzying array of car choices, trim options, “expert” reviews, incentives and other deals, it definitely pays to approach car buying strategically.
So if you’re in the market for a new vehicle and you find yourself having trouble keeping a clear head, just keep these strategies, courtesy of INSURE MART of LOUISIANA, in mind:
1. Decide how much money you can spend and what type of vehicle best suits your needs. Just looking for the basic transport capability of a small or medium sedan? Or do you need the hauling capacity of a van or SUV? Something practical? Something sporty? Something in between?
2. Research crash tests and accident data available from the Insurance Institute for Highway Safety.
3. Shop around for financing. If you can, apply for and get approval for a loan from a bank, credit union or other financier before you even visit the dealership. Being a “cash buyer” gives you an advantage when you do finally meet with the dealership’s financing person.
4. Test drive the car. Try to drive in conditions that will be similar to those under which you’ll drive every day.
5. Check pricing for your desired make and model at two or three dealerships and use that information to help you negotiate the best deal.
6. Get a firm quote, in writing. This should include not only the cost of the car, but any fees and the sales tax.
7. Inspect your new car carefully before driving off the lot. Make sure all the options you’ve ordered are included and that the body and paint are free of scratches or dents.
Finally, it’s important to consider the cost of auto insurance, although it seems that few people realize that what they pay for insurance can add significantly to the vehicle’s total cost.
Wise car buyers know to shop around for insurance and find out how costs compare. They also know to visit an independent insurance agency – like INSURE MART. We can check with several companies to find the best combination of coverage and price.
CALL US for help with Auto / Car Insurance!
Shedding Light on Car Insurance
January 24, 2010
It can be easier than you think to put the brakes on high auto insurance rates – as an independent agency, INSURE MART of LOUISIANA can help! We can review your policy and possibly help you find a variety of illuminating ways to save money. Here are some things you may want to consider:
• Ask us to check several companies’ rates. This is the single most important thing you can do to get the best possible rate—and we can do it for you quickly and easily. The difference between the highest and lowest rate available to you from different companies could vary by hundreds of dollars.
• Reduce or drop physical damage coverage on an older car. Depending on your car’s age and where you live, comprehensive and collision coverage may not be worth keeping. We can give you advice on whether it makes sense to reduce or drop this coverage altogether.
• Raise your deductible. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15 to 30 percent. In addition, because the average driver files a collision claim only once every ten years, odds are that over the lifetime of your car, a higher deductible will save you money. We can show you how raising your deductible will lower your premium.
• Look for discounts. Many insurance companies reduce premiums for certain driver traits or car features. For example: being a homeowner for more than three years, nonsmoker, nondrinker, students with good grades, senior citizens who have taken an approved defensive driving course, people who only drive for pleasure, cars kept in garages, antilock brakes, antitheft devices, air bags, etc. Ask us to check.
• Don’t assume having your car and home insured by the same company is the best option. Because auto insurance rates vary so much from company to company, it may make sense for you to have your car and home insured by separate companies. Let’s talk about it.
CALL US for help with Auto Insurance!
Accident Preparedness
January 24, 2010
Here are some tips from The Progressive Group of Insurance Companies.
Preparedness starts before you leave the driveway:
- Put a disposable camera and pen and paper in your glove box. Car insurance claims can be set-tled faster if there’s a good record of what happened. If you can take photographs or collect license plate numbers, or even names and phone numbers of witnesses, these can all help your insurance company establish facts faster.
If you’re involved in a crash:
- Move your vehicle out of the roadway, if you can. If your car is able to be driven, move it off of the road a safe distance. By getting off the road, you can help to avoid a second collision.
- Turn on your flashers or your lights. You want to be certain your vehicle is visible to other drivers.
- Check yourself and your passengers for injuries. If someone is injured, call 911 immediately.
- Call local police to report the crash.
- Call your insurance company to report the crash. The earlier your insurance company knows about the crash, the faster it can get to work to resolve your claim.
CALL US for help with Auto Insurance!
Cutting New Car Costs
January 24, 2010
One way to avoid sticker shock or buyer’s remorse when purchasing a new car is to consider expenses you may encounter down the road.
For instance, experts say that while most people anticipate the purchase price, taxes and registration fees associated with a vehicle, many forget that the insurance they need to protect their vehicle could come with a hefty price tag. Fortunately, there are ways to keep insurance costs down while maintaining the type and amount of coverage a new car typically requires.
To help consumers control car costs—from sticker price to insurance premiums—The Progressive Group of Insurance Companies offers these tips:
- Decide ahead of time how much money you can spend and what type of vehicle best suits your needs.
- Research crash test and acci-dent data. You can see crash test video and analysis from the Insurance Institute for Highway Safety online at progressive.com.
- Check with several dealerships and get firm quotes in writing. Having quotes from several places can help you negotiate your best deal.
- Shop around for financing. Rates vary between institutions.
Insurance Costs
Before you buy a car, you should check into how much it would cost to insure. Try talking with an independent insurance agent—it may save you some money. Unlike “captive” agents who represent only one company, independent agents and brokers offer products from many different insurance companies. That means more choice and more opportunities for you to find the best coverage and service at the right price.
Here are a few questions to ask an independent agent or broker.
- Can I get any discounts for my car’s safety features? Your auto insurance premium is based in part on the car’s value, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for safety features that reduce the risk of injuries or theft.
- How does this insurance company handle claims? Price isn’t the only factor to consider. It’s a good idea to deal with a company that will be there for you when you need it around the clock.
- What coverage do I need? Your specific needs may vary by the age of the car, your personal situation and other factors.
Select an agent or broker who takes the time to answer your questions and who can help you find the combination of price, service and coverages that you need.
Did You Know?
Unlike “captive” auto insurance agents who represent only one company, inde-pendent agents and brokers offer products from many different insurance companies.
8 Tips for The Road Ahead
January 24, 2010
Whether you’re traveling alone, with a buddy or with your spouse and a car full of kids, there are few things more “American” than the long-distance road trip. Countless vacation travelers will drive the highways looking for fun and making memories with every mile. If traveling down the “holiday road” is in your plans, take the time to prepare for your trip. You’ll have a more enjoyable vacation if you plan carefully. Here are a few driving tips, courtesy of INSURE MART:
- Maintain your car. Make sure your vehicle is up to date on its maintenance schedule, and be sure to check the battery and tires.
- Plan your trip and know where you’re going. Call ahead for proper and safe directions to get you to your destination safely and have maps of the area on hand to help you navigate once you are off the main road. You’re more likely to make good decisions, even in dangerous situations, if you’re clearheaded and know where you’re going.
- Be alert. Seems obvious, but driver inattention is surely the cause of a lot of accidents. If you stay focused behind the wheel and plan carefully, you will have a wonderful summer road trip.
- Take precaution with a cell phone. Cell phones can be a lifesaver when you need immediate access to emergency services after an accident. Keep your phone within easy reach and get to know its features. However, use it prudently. Reports suggest that driving while talking on the phone increases accident rates.
- Wear your seat belt. Whether or not it’s required by law in the state through which you’re driving, always wear your seat belt as a safety precaution.
- Protect your car against theft. Help deter criminals from taking your car with steering wheel locks, switches that disable fuel or ignition systems, and electronic tracking devices.
- If you’re in an accident. Taking immediate steps if you’ve been in an accident can protect your family and your car from further damage. Stop immediately and make sure your car is not blocking traffic. Turn off your car to keep it from overheating or catching fire. Warn oncoming cars using road flares or orange triangle reflectors. After you have protected yourself and your family, call your insurance company immediately.
- Make sure your auto insurance is up to date. Before you even leave the driveway, you want to be sure you’re protected when you’re on the road and far from home. An independent insurance agent or broker can provide the personal service and advice you need to travel in confidence.
CALL US for help!
Personal or Commercial Car Insurance?
January 24, 2010
If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy.
You’ll need to consider buying a commercial policy or making sure that your existing personal auto policy covers the vehicle for business use. Whether or not you need a commercial policy depends on how you use your vehicle and what company you have it insured with. Every company has different guidelines and may surcharge for business-use coverage on a personal auto policy.
If you’re not sure whether business use is covered on your personal policy, it’s important to call your insurance company or agent. The Progressive Group of Insurance Companies has put together these four questions you may want to ask:
How do companies determine commercial use? One definition could include “engaging in transporting goods for compensation or a fee,” which includes pizza or newspaper delivery, catering, door-to-door consulting services, landscaping or snowplowing services, logging business, day care/church van services or farm-to-market delivery. People who do these kinds of work should consider purchasing a commercial vehicle policy.
Do you need more liability coverage than a personal auto policy provides? Generally, a commercial auto policy offers higher limits of liability, but less or no coverage in areas that are typically not associated with commercial auto risks.
Do you need special coverage for situations encountered while conducting business? Commercial auto policies usually offer these coverages, and they’re normally not available with personal auto policies. These include hired and nonowned auto coverage and coverage for towing a trailer for business use.
Do you need to list any employees as drivers? Commercial auto policies allow you to list anyone that you employ. You don’t have that option with a personal auto policy. In general, you’ll need commercial auto coverage if the vehicle you use is owned by a corporate partnership or driven by employees, or if it’s used to haul tools or equipment weighing more than 500 pounds, make deliveries or heavy enough to require state or federal filings.
Did You Know?
If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy. CALL US for help!