Prices vary from auto company to auto company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state auto departmentmay also provide comparisons of prices charged by major insurers.
You buy auto to protect you financially and provide peace of mind. It's important to pick a company that is financially stable. Check the financial health of auto companies with rating companies Standard & Poor’s (http://www.standardandpoors.com/) and consult consumer magazines.
Get quotes from different types of auto companies. Some sell through their own agents. These agencies have the same name as the auto company. Some sell through independent agents who offer policies from several auto companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet.
Don't shop price alone. Ask friends and relatives for their recommendations. Contact your state auto department to find out whether they provide information on consumer complaints by company. Pick an agent or company representative that takes the time to answer your questions. You can use the checklist on the back of this brochure to help you compare quotes from insurers and on the same coverage.
2. When You Buy a Car, Compare Auto Insurance Costs
Before you buy a new or used car, check into auto costs. Car auto premiums are based in part on the car’s sticker price, the cost to repair it, its overall safety record, and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. These include daytime running lights and anti-theft devices.
3. Get a Higher Deductibles
Deductibles are what you pay before your auto policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.
4. Lower Insurance Coverage on Older Model Cars
Consider dropping collision and/or comprehensive coverages on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of cars. Or you can look it up online at Kelley’s Blue Book (http://www.kbb.com). Review your coverage at renewal time to make sure your auto needs haven’t changed.
5. Buy your Homeowners and Auto Coverage from the Same Insurer
Many insurers will give you a break if you buy two or more types of auto. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! You may save money buying from different auto companies, compared with a multi-policy discount.
6. MKeep Good Credit
Establishing a solid credit history can cut your auto costs. Insurers are increasingly using credit information to price auto auto policies. To protect your credit standing, pay your bills on time, don't obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.
7. check Out Low Mileage Discounts
Some companies offer discounts to motorists who drive a lower than average number of miles a year. Low mileage discounts can also apply to drivers who car pool to work.
8. Reduce Costs with Group Auto Insurance
Some companies offer reductions to drivers who get auto through a group plan from their employers, through professional, business and alumni groups, or other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible.
9. Hunt for Discounts
Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a drivers education course or is at a college out of the area without a car, you may also qualify for a lower rate.
State auto Departments and Web sites
Ask about discounts for the following:*
[ ] $500 deductible
____ $1,000 deductible
____ More than 1 car
____ No Accidents in 3 Years
____ No Moving Violations in 3 Years
____ Driver Training Courses
____ Defensive Driving Courses
____ Anti-Theft Devices
____ Low Annual Mileage
____ Air Bags
____ Anti-Lock Brakes
____ Daytime Running Lights
____ Student Drivers with Good Grades
____ Auto and Homeowners Coverage with the Same Company
____ College Students away from Home
____ Long-Time Customer
____ Other Discounts
The key to savings is not the discounts, but the final price. A company that offers few discounts may still have a lower overall price.
*The discounts listed may not be available in all states or from all auto companies.
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SALE OF MOTOR VEHICLE
For value received, the undersigned seller, ____________(1)___________, sells and
transfers to ____________(2)___________, buyer, the vehicle described therein.
Seller warrants that:
(1) seller is the sole owner of the vehicle;
(2) such vehicle is free of all encumbrances, security interests, and other defenses
against seller;
(3) the cash price does not exceed a reasonable retail price at the time of sale;
(4) the vehicle has been delivered to and accepted by buyer;
(5) buyer was of legal age and legally competent to execute the contract on the date
thereof;
(6) all disclosures to buyer and other matters in connection with such transaction, are in
all respects as required by, and in accordance with, all applicable laws and regulations governing
them.
Dated: ____________(3)______________
__________(4)_____________ Seller
___________(5)____________ Buyer
NOTICE
The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.
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