I have spent a long time in the insurance industry, where I realized that many myths are going around about car insurance. Here are some of the most popular ones. Remember to always double check with your insurer to ensure you know what to expect beforehand.

• I received my first ticket for speeding; now my insurance premiums will inevitably increase. Generally, with your first speeding ticket, your premiums will remain unchanged. Most insurers will let this past if you haven’t received any fines in the last five years.
• The debt I made will not have any effect on my car insurance rates.It may affect, especially if you missed some payments. Most car insurance providers will check your credit score to determine the rate you will have to pay. A person with poor credit can sometimes pay almost double on their vehicle insurance as their risk is much higher.
• I crashed my friend’s car and told him not to worry as my insurance provider will cover it.Your insurance will only pay out if your friend’s insurance pays out first. This means that his limits must be exhausted first.
• If someone breaks into your car and steal your belongings, your car insurance will pay for it. This is not true; you will only receive a payback if you file a claim with your home & contents insurance provider.
• I am going to buy a white car as this will reduce my premiums. This is not true; the color does not have any effect on the premiums you pay. Therefore, buy a car in the color you like.
• I didn’t own a car for the last couple of years, but this won’t affect my premiums. This will cause your premiums to increase, except if you have a good reason for not having a car with insurance during that time.
• I can lie on my car insurance application to reduce my premiums. This is one of the worst things you can do. It may reduce your premiums, but as soon as you lodge a claim, your insurer will refer back to your application forms. When they start to ask questions you cannot answer, the normally decline the payment.
• The insurance for a cheaper car will be less than that of an expensive one. Usually, this is the case, but sometimes it happens that the insurance company will ask a lower premium for the more expensive car. It all depends on how much the parts cost to replace.

There are many more myths like these, but these are the most common ones I have came across in my career.

Before choosing your next insurer, be sure to keep these things in mind. Look at the options different insurers have to offer, and always ensure you get what you pay for. With Hollard, you will always know what to expect, read more about their policies here.

We all know this day is coming – the day your teenage driver finally gets their license and is burning a hole in their pocket. Of course, you always told them they could drive your car when this day comes. Still, this day arrives much sooner than expected. It can be a scary thought that your teen is now in charge of your vehicle. Even more frightening, how is this situation going to affect your insurance premiums? Luckily there are several things a parent can do to ensure cheaper insurance for their teenage driver.

Did you know that, statistically, a teenager is ten times more likely to get involved in an accident than a driver over the age of 30? This also means that the insurer is ten times more likely to pay out every year. This, of course, is a high risk to insurers, and they do not like those statistics. There is no way they will make money by paying out thousands each year for a policy that is only bringing them in a couple of thousand each year.

Hopefully, it now makes sense why insurance premiums for teenage drivers are higher than other policies. Because your teenager isn’t allowed to have his policy, your policy is the one that is going to have to increase. There isn’t another way. Therefore you will have to play by the rules. Luckily there are some things you can do to decrease your insurance premiums.

Ask your insurance agent about discounts for teenage drivers. Because you are an experienced driver, the small discounts offered when you first applied may not have meant much. Now, with your teenager also on your insurance plan, these discounts may be quite significant.

Motivate your teen. As teenagers do not have a strong driving record or credit rating, these cannot be used as a way to show how ‘responsible’ they are. Some insurers may consider using their academic record for this. If your teenager is an underachiever, this may be a good time to motivate him to spend some more time behind the books.

The thing about getting him his vehicle. Think about it; it is going to cost a lot to insure your teen behind your expensive sports car because it is going to require a lot to replace it. On the other hand, if you buy him a cheap used car to drive around with, it is not going to cost a lot to replace the vehicle.

Increase your deductibles This is a well-known method, but if you want to lower your premiums, it is worth it to increase your deductible. It works like this – you will pay less monthly if your insurer pays less after an accident. This is one of the few ways that is guaranteed to lower your premiums.

Shop around and relax! Teen car insurance doesn’t cost as much as it used to a couple of years ago. Give your teenager your keys and relax, this is the only way they are going to get good at it.

For the last 10 years we have seen al rise in petrol and diesel prices well above the rate of inflation, and now that diesel is being viewed by the government as a dirty fuel the chances are that the Chancellor will tax diesel vehicles more heavily than ever before. Here are a few ways in which you can save money on your vehicle fleet costs for the year ahead. Even if you implement a couple of changes it can make a big difference to your vehicle expenses over the period of full-year.

To start with the first thing that you must consider the actual vehicles that youre going to purchase for your fleet. As a business it is important that you get the best value for money that you can and buying the right vehicles for the job in hand is imperative. What may appear to be a good deal on the forecourt but not necessarily make for a good deal over time this is where you first have to consider your purchases very carefully. Being able to get cheap fleet insurance for your fleet will make a big difference on your annual outgoings of the vehicle fleet.

Every vehicle in its class will have major competitors from all the major brands of vehicle manufacturer, so take time to read reviews, both professional and customer reviews for the vehicles that youre interested in. This should give you an honest appraisal of the long-term appeal of the vehicle or vehicles that youre interested in buying. Look at things like running costs maintenance costs and reliability of the vehicles. Sometimes it is not simply enough to look at the manufacturers specs but one has to dig deeper into finding out what the actual true costs are of running a vehicle. Also consider how you are going to purchase the vehicles, whether you are looking to purchase them outright, by the vehicles on HP or lease the vehicles to the business-each has his own merits, and you need to consider what is right for your business and your circumstances.

Once youve purchased your fleet of vehicles there are a number of things you can do to cut down the costs on the day-to-day running of the fleet. Obviously fuel costs will probably be the highest costs that you incur in the running of the vehicles and so it seems sensible to make sure that you are purchasing your fuel at the very best price available in your area. There are a number of websites now compare petrol and diesel prices all over the country and so its simple to literally go online and find out the cheapest place in your area to buy your fuel. By doing this you can save as much as 20p per litre and this can have a massive effect on the fuel costs over a year, and for a fleet of vehicles it makes an even bigger difference.

It makes sense not to keep things in the vehicle that are not needed. By lightening the load of the vehicle, this will improve fuel economy, so for example if you do not need a van load of tools all the time, then only put what you need in the vehicle and unload the vehicle when any jobs are finished.

The way a vehicle is driven will also have an effect on its fuel consumption, driving more smoothly and accelerating generally, avoiding unnecessary braking will help with the economy of the vehicle. Driving at 60 miles an hour instead of 70 miles an hour can save as much as 9% on your fuel costs and if youre likely to be stuck in traffic for more than three minutes it makes sense to turn your engine off, and switch it back on when the traffic moves.

But following some of the simple tips you can save an enormous amount of money when running a fleet of vehicles, it may seem like common sense but when a conscious effort is made to follow some of these steps, that is when savings are made.

You probably are asking yourself why motor traders need mechanics insurance besides the reasons that you already know. As one engaged in this type of business, you have a responsibility to care for your business, your customers, your employers, and above all, YOU. Here are more reasons for the need to get motor insurance.
Customers Ask For It

Hopefully, someone has already asked you if you have a policy. Customers know that it is an integral part of the business and if you dont have motor traders insurance, no one will take part in your business.

People even ask what type of insurance you carry. If you only have the minimum insurance coverage required by law, it doesnt create a good impression on you. A wider insurance coverage is something you can boast of in your advertising and marketing campaigns.

Financial Protection

If theres something you should partner with to protect your finances, its an insurance policy. All stipulations in an insurance contract are somehow or fully related to money matters.
If your customer has been injured while driving one of your vehicles, he will find a reason to file a case and get monetary compensation. If you dont have insurance to cover the injury, you will have to make an out-of-pocket expense.
In addition, the law will penalize you for not having insurance. The penalty can be a short jail term or a fine that can significantly turn the tables for your business.

Accidents Do Happen

This is something nobody can deny. Here are the statistics from the UK government: 144,891 road traffic accidents were reported in 2009, and there were 1,478 cases of injury involving employees working on vehicle maintenance and repair.
So, expect bad things to happen, and when they do happen, make sure you have a policy to save your day. Having even just the minimum third party motor trade insurance can significantly reduce expenses associated with accidents, loss, and injury on your customers.

Maintain good relationships and dealings with your customers, because if they like the way you do business with them, they might spare you from making payments for things not covered by your policy.

Cars, Life, and Property Are Really Important

Not all customers are merciful, forgiving, and understanding, especially when they place such high importance on their valuables not to mention the lives of their family. It is easier to understand if it is just a refrigerator or a toaster that is involved. Therefore, expect to deal with a lot of lawsuits if your employees or you yourself are not careful with your customers.

In terms of liability, it is possible that you can kill a customer within your premises or while using a vehicle that you have repaired. Furthermore, you are responsible for protecting the lives of the people employed in your business. The employers liability coverage is your best protection if one of them died because of your negligence.
Just think about this: Always put yourself in the shoes of your customers and the people under your care. Whats important to you is also important to them.

Accidents are bound to happen anytime and anywhere, in which case you may find it difficult to cover the damage caused to your vehicle or injuries incurred by the people involved. This is where car insurance comes in, to cover you the overwhelming cost resulting from such a misfortune. Car insurance is not only a legal requirement; it helps on your side too.

Having car insurance is a legal requirement and with the right level of cover, provides financial protection in the event of your vehicle being damaged. It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property.

Accidents happen, so it’s reassuring to know that you’re covered financially if you’re involved in one.

The good news is that premiums are falling, reflecting the commitment of insurers to pass on the savings from reforms in the civil litigation system in 2013. For example, by legislating to protect insurers from fraudulent whiplash claims and claimant lawyers’ excessive costs, insurers are now able to be more competitive with their prices.

Sourced From: http://www.rac.co.uk/insurance/car-insurance/why-do-you-need-car-insurance

Having your car insured is costly, but you can always beat the cost and save yourself the extra expense. This can be easy if you start by evaluating the level of insurance costs out there even before buying your car. You can also get more than one quote before you commit or you can go high on deductibles.

If you’re shopping for car insurance, you know there are certain crucial factors influencing your rate that are out of your hands. Such factors include your age, gender and record of prior claims.

Despite this, there’s a lot you can do to score a lower rate, and your choices bear more power than you might think. Here are 10 tips guaranteed to help you get the best rate possible on your auto insurance.

Get more than one rate quote before you commit.

“Company prices are very different, and it pays to shop around. You can easily wind up paying double from one company to the next,” says J. Robert Hunter, director of insurance with the Consumer Federation of America, a national watchdog group.

Evaluate insurance costs before you buy your vehicle. The year, make and model of your vehicle can have a profound impact on your insurance rate. All else being equal, new, expensive or sporty cars will cost more to insure than older, cheaper and more utilitarian vehicles. But you could find a substantial discrepancy even when comparing the cost to insure similar cars.

Go high on deductibles. If you’re willing to give a little with your deductible, you can wind up saving big on your rates. “If you go from a $250 to a $1,000 deductible, you can save between 25 and 40 percent on your policy,” says Hunter. You can then set aside a portion of these funds to cover your costs in

Sourced From: http://www.edmunds.com/car-reviews/top-10/top-10-ways-to-lower-your-car-insurance-bill.html

Shopping for car insurance may not be as pleasing, but sometimes the benefits you can get from spotting and going for the best cover are with the efforts. Auto insurance can be good for you if you want to get over with it easy. Comparison shopping can work well here, to help you get exactly what you need.

When it comes to auto insurance, you want to be adequately covered if you get in an accident, but you don’t want to pay more than you have to. Unfortunately many people are doing just that, simply because they don’t want to spend time shopping for car insurance. It’s not inherently enjoyable, after all, despite how it looks in commercials featuring disgruntled cavemen and joke-cracking spokespeople.

But by doing some comparison shopping, you could save hundreds of dollars a year. When one of our editors used a rate-comparison service, he got basic coverage quotes for his two old cars that ranged from $1,006 to $1,807 — a difference of $801 a year. If you’re paying thousands to your current insurance company because you have a couple tickets, an accident or an out-of-date and unfavorable credit rating, shopping your policy against others might be well worth the effort. Look at it this way: You can convert the money you save into buying something you’ve wanted or needed for a long time.

Sourced From: http://www.edmunds.com/auto-insurance/10-steps-to-buying-auto-insurance.html