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Car insurance rates can be crippling, especially if you’re young, have been caught up in accidents, or if you’re not able to afford to latest state-of-the-art car with futuristic safety features. Though car insurance premiums can be a pain to pay, here we offer you 8 tips on lowering your car insurance rates in 2018.

1. Car insurance discounts

There are numerous discounts which you may be entitled to with your auto insurance, here are but a few examples!

LOW MILEAGE – Do you drive less than 7,500 miles per year? You may get a 5-15% discount on your car insurance! Some insurance companies even offer discounts if you do some of your travel via public transport such as buses or subways.

MULTI-CAR DEALS – You may see 10-25% discounts on your comprehensive, collision, and liability premiums if you have more than one vehicle on the same insurance policy.

MODERN CAR DISCOUNTS – Does your car have airbags, anti-lock brakes, and automatic seat belts? Perhaps it has tracking systems and anti-theft alarms? You could see discounts from 5-30% depending on how modern and safe or thief-proof your car is.

2. Complete a traffic course

You can often see a 5-15% discount if you take a traffic course to improve your driving skills. The eligibility for these tests varies from state to state, however. Traffic school courses are usually 4 to 6 hours long, and can be done online, in person, or via a mixture of the two. They often set you back around $25 to $75, though you’ll make that back in discounts quickly. You may remove points from your record for minor traffic violations, though you can’t get this AND a discount. New York, however, is an exception to this rule.

3. Watch your credit report closely

Auto insurance companies take many factors into account when calculating your premiums, and your credit history is one of them. Some states have made this illegal, but in many, it remains a legal and common practice. Pay your bills on time and maintain a decent credit rating; it will help you to seem low-risk and therefore help to keep your car insurance rates down. The difference in auto insurance rates for “good credit” drivers and “poor credit” drivers is a staggering 67%.

4. Be a safe driver

It sounds so obvious, but it’s true. People with no traffic violations or accidents get lower insurance rates (over time) as they are simply presenting themselves as low-risk (i.e. safe) drivers. A single speeding ticket can increase your auto insurances rates 11-13%, so why take the risk with your life and your insurance premiums?

5. Invest in a safer car

The Insurance Institute for Highway Safety Vehicle Safety Ratings Page (long name) contains a list of all the safety ratings for various cars, taking multiple factors into account. Prioritize safety ratings when you buy a new car, as you’ll likely decrease your insurance rates and better protect your own life!

6. Discounts for paying in full

You can usually see a 5-10% discount if you pay your car insurance premium in full, rather than spreading the payments out over an extended period. Though many people cannot afford to do this straight away, it could save you hundreds of dollars over the year.

7. Evaluate what you really need from your policy

Do you really need comprehensive and collision coverage? Vehicles that are worth less than $3,000 or less than 10 years old simply don’t require these forms of coverage. According to the Insurance Information Institute, getting rid of comprehensive and collision coverage (assuming you don’t need them) could save you around $660 per year on average.

8. Compare the market

As with any form of insurance, you should be sure to compare the rates, policies, and details of different insurers. Auto insurers have slightly different methods of ascertaining how much you will pay, so one insurer could happen to see you in a much more favorable light than another.

Among the myriad of circumstances used to calculate your auto insurance rates, your insurance could significantly drop (or spike) if you get married, move house, have an accident, buy a new car, or add a young driver to a household policy.

Consider taking the customer service ratings (and customer reviews) of the insurers into account when making your decision, as insurance companies are notorious for wanting to escape paying out whenever they can. Evaluate what is most important to you, what price you’re willing to pay, and what excess you’re willing to pay, assuming it is applicable. It pays to compare competing companies!

Looking for more help with lowering your car insurance rates? Get in touch today and we’ll be able to help you with a personalized plan which aims to lower your auto insurance rates for good.

Vehicle collisions happen each day to drivers of all ages. They are part of life in big cities and small towns. Knowing the correct actions to take following an auto collision can have a lasting impact on insurance premiums and possible legal repercussions. Take the correct measures to stay protected. Here are 6 steps to take following a vehicle collision:

1. Get to Safety

The action to take following an auto collision is getting to safety. Depending on the situation, this could mean moving a vehicle safely to the shoulder or exiting the automobile immediately. Always place safety as the top priority above all else. Create distance from moving traffic and other hazards before moving ahead.

2. Evaluate for Injury

A vehicle collision sends the adrenaline response into overdrive. Shock can distract from injuries. Check for personal injuries and encourage all others involved to do the same. If any back or neck injuries are suspected, immobilization is recommended. Any medically trained personnel can perform first aid if the situation allows.

3. Contact First Responders

After moving to safety and applying immediate first aid, call 911 and request aid. This is recommended any time there’s a vehicle collision, regardless of severity. Injuries may take days or longer to appear. Additionally, insurance carriers may reference official records following a vehicle collision.

4. Collect Information

With safety and first aid under control, it’s time to collect pertinent information from the people involved. More than driver name and car insurance carrier, thoroughly record the scene. Take photographs of the vehicles, damage, and the scene. Speak to the first responders to gather any relevant information. Trauma can affect short-term memory. Record responses for simple reference and accuracy.

5. Be Cooperative 

Following a vehicle collision, you may be in a heightened state of emotional response. This can make it challenging to be cooperative with other drivers and first responders. Other drivers are likely energized as well and may be challenging to communicate with. Be part of the solution.

6. Exercise Neutrality

One of the first gut responses following a vehicle collision or other trauma is talk it out. It’s perfectly natural yet following a vehicle collision a casual remark may cause trouble. After a vehicle collision, stay neutral with other drivers, witnesses, and responders. This includes remaining silent on social media channels. Inadvertently admitting fault may lead to increased insurance premiums and more.

Afterward, contact an insurance agent to report the collision and begin a claim. Agents are ready to help overcome vehicle collisions so you can get back on the road. Auto collisions are equal-opportunists and can happen anywhere. Prepare with comprehensive auto insurance and drive protected.

Entrepreneurs utilizing personal vehicles for business may want to consider extra insurance protection. Making deliveries and service calls with personal vehicles may limit insurance coverage. This can be true for accidents while working or while on personal business. A local small business owner learned this the hard way. On the way to visit a friend there was a collision resulting in significant damage to the vehicle. Although her personal policy would generally cover the damages the insurance company denied the claim. Personal auto insurance policies extend to protect many small business owners yet in some cases, vehicles employed for specific commercial purposes may be excluded from coverage.

Most small business owners are protected under personal auto insurance policies. In some cases though, the commercial purpose for the vehicle may limit or forfeit coverage. For cars and trucks performing deliveries, equipped with commercial license plates, carrying passengers and emergency vehicles extra insurance coverage is necessary. In this case, the driver owned a small business selling heaters and a small part of that included deliveries.

The owner recently switched insurance carriers online to save money. Checking the box during the quotation process, they reported 30% of the vehicle mileage related to business purposes. Reviewing the insurance claim and the business services after the collision, the claim and repayment were denied. Shocked, the business owner learned the limits of personal auto insurance protection too late. This leaves the owner with a damaged personal and business vehicle, without compensation from the auto insurer.

Business owners mixing personal and business trips with the same vehicle may want to consider extra insurance protection. For more information on personal and commercial auto insurance policies contact an agent. We’re always keeping up with insurance-related topics that may impact health or wallet. For any questions about insurance, call anytime for answers.

Imagine this: you are seated at home working on your computer, either answering your email or polishing a work related presentation. Suddenly, a message blinks on your screen. The message curtly demands that you send cash to a certain destination, failure to which you will be unable to access any of the documents stored on your computer. You also discover that your keyboard has become unresponsive. Logically, you decide to restart the computer. The screen comes right back on, but to your shock, you are still unable to access any of your files and folders. It dawns on you that your data has been remotely locked via a device on your network, and that no matter how much you try you cannot access it.

The above scenario clearly illustrates what happens in a typical ransomware assault. This has become an acute problem globally, with the WannaCry attack being the latest ransomware attack to affect the largest number of individuals on a worldwide scale. The victims are usually at a loss on what to do.

You can use a ransomware attack as a learning point, and consequently take measures to enhance your protection against similar attacks in the future. Here are five steps that you can take if you have been a victim:

1. Do not pay the Ransom Money

Internet security experts advise that it would be a disastrous mistake to pay off the aggressors. For one, it is an indicator that you have given up control of the situation to the attacker, and that you trust they will amicably resolve the situation. Honestly, this never happens. The aggressor is only interested in ripping you off. Once you pay the ransom, it is unlikely that they will unlock your documents. If in the unlikely event they do, be certain that they will see you as soft victim and mark you for repeated blackmail attacks. Giving in to the attackers’ demands also gives them the impetus to continue perpetrating further attacks on more victims.

Christopher Budd, a security supervisor for the electronics security firm Trend Micro, emphasized the above point in a business article he wrote last July. In the article, he advised victims of ransomware attack not to pay, but to keep in mind that they are handling bad guys. He reiterated that giving in would not guarantee that, as a victim, you would get back all your documents. It would only help the criminals perpetuate this criminal activity. As a worldwide communications threats expert, Christopher Budd definitely understands the pitfalls of giving in to the aggressors.

2. Use a Backup to Reinstall Your Files

Using a computer back up system comes with numerous advantages. Many people use computer backups to access their data in case the computer breaks down. In the same way, the backup will come in handy in case you fall prey to ransomware attacks. You will be able reinstall all your files and folders from the backup system, without having to refer to the aggressors. For this to be effective, ensure that you have set your system to automatically backup all the data that you handle via the computer. Once the backup system is well set, it will operate automatically and you do not have to keep thinking about it; unless something happens and you need to access the data.

3. Update Your OS and Anti-virus

It is important that you regularly update your OS and anti-virus with the latest versions. Microsoft is quite aggressive in addressing security concerns. Actually, the latest update of Microsoft’s Window 10 is fully secure against WannaCry -the latest global ransomware assault. There are several firms and individuals, however, who still use earlier versions of windows, or do not activate automatic updates on the later versions. These firms and individuals would not be protected in case an attack is imminent.

4. Engage the Services of Your IT Division or an Anti-Virus Firm.

The personnel in the IT department of your company may have the technical expertise to recover your data in case your computers are attacked. Inform them immediately you notice the problem, and allow them to try and salvage the situation. Conversely, you may opt to ask anti-virus companies to assist. There are some anti-virus software that could help, but do not peg most of your hopes on this.

5. Reformat Your Hard disk

This is a tough decision to make, because it means you will lose all your data. However, it is a good move compared to the alternative of giving in to the aggressors. So, if all the other solutions are not tenable, go ahead and reformat your hard disk and reinstall the OS. Take the entire ordeal of the attack as a lesson well learnt, and ensure to back up your data once you are back in business.

Importance of Identity Theft Protection

Of course, these kinds of attacks indicate that your computer has been violated. Attackers may have gotten access to important information from your system, in addition to holding it hostage. Just as it is important to protect your computers and devices with operating system updates and anti-virus / anti-malware software, it’s also important to protect your identity. Many carriers offer identity theft insurance endorsements on homeowners or renters insurance policies. Some also offer stand-alone identity theft protection options. If you are concerned about the financial implications of having your identity stolen, be sure to check with us for advice on your best options.

Here’s one of the core things we help our clients with. Understanding how to minimize personal economic dangers via insurance coverage. For example, the sudden death of a close relative can have a significant negative impact on your family’s financial well being. Having adequate life insurance can help address this. Your home might catch fire. Adequate homeowners insurance offers critical protection. And of course having appropriate auto insurance protects you from a loss in case your car is totaled.

It’s important to have insurance to protect against all of these different threats. But there is a cost to being over-insured… and not just in having a higher insurance premium. So here are a few tips to help you keep this from taking place.

Car insurance.

Having appropriate liability insurance on all your vehicles is critical. However, having collision and/or comprehensive insurance on a vehicle with a low resale value that’s also paid off isn’t helpful. Here’s a way you can test your need. If your car was in an accident could you afford to replace it without negatively impacting your finances? If yes, scrap the unnecessary coverage and pocket the savings.

Homeowners insurance policy.

Do you know how much it will cost to rebuild your home if it were to face devastation? This isn’t the same as what your home might be worth if you sold it tomorrow. Remember that the cost of land doesn’t factor into having adequate home insurance protection.

When you buy insurance for your home or condo, you are seeking the needed coverage in case the house (or a part of it) has to be replaced. This should be 1-for-1. For example, if you have a home that is carpeted, you wouldn’t pay for insurance that would replace the carpets with hardwood floors. When insurance is called upon, the coverage must be like-for-like. Making certain you have appropriate coverage can lower your total premiums.

Life insurance.

One of the biggest areas where folks are often over-insured is life insurance. Some folks view having a life insurance policy from a pride perspective. But do you really need a $1,000,000 policy? Carefully reviewing your needs is critical to avoid spending too much on life insurance. Having the right mix of insurance including term vs. whole can also offer savings.

Another thing to watch out for is costly riders. While there are too many to cover in detail here, riders add costs. It’s important to make certain that whatever riders you choose, they meet your unique needs.

Final Thoughts.

For the most part, being over-insured drives up the cost of premiums while offering you little genuine benefit. Eliminating these costs can help you save hundreds of dollars (or more) each year. Shifting these savings towards other goals such as investing can help you build financial security. This can include setting aside for college or retirement.

The best time to address insurance is when life circumstances change. Recently married? Having a child? Perhaps you’ve just received a big promotion? You may have won the lottery. Leverage these big life moments to be 100% certain you have adequate protection. As we review these life changes with you we’ll help you understand cost-savings opportunities. This includes making sure you avoid being over-insured. Contact us today for a complete review of your risk profile and insurance requirements.

Here’s one of the core things we help our clients with. Understanding how to minimize personal economic dangers via insurance coverage. For example, the sudden death of a close relative can have a significant negative impact on your family’s financial well being. Having adequate life insurance can help address this. Your home might catch fire. Adequate homeowners insurance offers critical protection. And of course having appropriate auto insurance protects you from a loss in case your car is totaled.

It’s important to have insurance to protect against all of these different threats. But there is a cost to being over-insured… and not just in having a higher insurance premium. So here are a few tips to help you keep this from taking place.

Car insurance.

Having appropriate liability insurance on all your vehicles is critical. However, having collision and/or comprehensive insurance on a vehicle with a low resale value that’s also paid off isn’t helpful. Here’s a way you can test your need. If your car was in an accident could you afford to replace it without negatively impacting your finances? If yes, scrap the unnecessary coverage and pocket the savings.

Homeowners insurance policy.

Do you know how much it will cost to rebuild your home if it were to face devastation? This isn’t the same as what your home might be worth if you sold it tomorrow. Remember that the cost of land doesn’t factor into having adequate home insurance protection.

When you buy insurance for your home or condo, you are seeking the needed coverage in case the house (or a part of it) has to be replaced. This should be 1-for-1. For example, if you have a home that is carpeted, you wouldn’t pay for insurance that would replace the carpets with hardwood floors. When insurance is called upon, the coverage must be like-for-like. Making certain you have appropriate coverage can lower your total premiums.

Life insurance.

One of the biggest areas where folks are often over-insured is life insurance. Some folks view having a life insurance policy from a pride perspective. But do you really need a $1,000,000 policy? Carefully reviewing your needs is critical to avoid spending too much on life insurance. Having the right mix of insurance including term vs. whole can also offer savings.

Another thing to watch out for is costly riders. While there are too many to cover in detail here, riders add costs. It’s important to make certain that whatever riders you choose, they meet your unique needs.

Final Thoughts.

For the most part, being over-insured drives up the cost of premiums while offering you little genuine benefit. Eliminating these costs can help you save hundreds of dollars (or more) each year. Shifting these savings towards other goals such as investing can help you build financial security. This can include setting aside for college or retirement.

The best time to address insurance is when life circumstances change. Recently married? Having a child? Perhaps you’ve just received a big promotion? You may have won the lottery. Leverage these big life moments to be 100% certain you have adequate protection. As we review these life changes with you we’ll help you understand cost-savings opportunities. This includes making sure you avoid being over-insured. Contact us today for a complete review of your risk profile and insurance requirements.