Tips for Saving on your Car Insurance

Car Insurance

Car Insurance

If you’re a regular driver, chances are one of your biggest motoring outgoings is your car insurance. Shopping around for the best value deal can be exhausting, so chances are, once you’ve found a provider that works for you, you’re not going to look at switching for a long time. Although this may seem like the easiest option, by not keeping your finger on the pulse as the market changes, you could end up paying much more than you need to. Here are some handy hints to help you cut down on your insurance costs.

Ask About Discounts

Many providers offer discount if you are insuring more than one vehicle, or if you buy a different type of coverage as well, such as homeowners. A quote you obtain for insuring one vehicle will almost certainly be higher than if you inquired about insuring several drivers and/or vehicles with that company, so think carefully about this before you shop. Generally speaking, multiple drivers must live at the same residence and be related by blood or by marriage. Some insurers also offer discounts if your car has antilock brakes, air bags, automatic seat belts, alarms or antitheft devices, or if you complete a driver education course, as well as potential deals available if you are a member of certain professional, business or alumni associations.

Consider Your Deductible

When choosing your car insurance, you can typically choose a deductible, or the amount of money you would have to pay before insurance picks up the tab in the event of an accident, theft or other type of damage to the vehicle. Depending on the policy, deductibles typically range from £150 to £1000. Generally speaking, the lower the deductible, the higher the annual premium, so a way to cut costs is to check with your insurance company how your premium might be affected if you raised your deductible. In some cases, raising your deductible may make your annual premium considerably more affordable.

Check your Cars Reputation

Something to keep in mind when it comes to choosing a car is its reputation on the road. That’s because insurers track the average insurance claim for every car make and model, and they use the data to help determine their rates. If drivers of a specific vehicle tend to have more accidents, incur more frequent or higher claims, or have their cars stolen more often, insurance companies will charge higher rates for everyone who drives the same type of car. It’s also a good idea to get a quote directly from your car manufacturer – you can check out insurance from BMW here.

Reassess your Coverage Package

Certain types of insurance, like collision coverage, may not be worth paying for in the long run. If your car is worth less than £1,000, the cost of collision coverage could potentially be more than what you’d recover if the car were in a crash. The best thing to do is determine your car’s value, and decide which (if any) elements of your coverage you can live without.

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Prepaid Debit Cards – One stop solution to live debt free

Debit Card

Debt Free Debit Card

Are you one among the thousands breaking your head out to repay your debt? Are you tired of losing your money in the name of credit cards? Do you need a smart advice on how to spend wise? The single answer to all these questions is a prepaid debit card. These cards are safer and secure unlike credit cards and can help you plan your finances in a more clear and controlled way. They also help you save your hard earned money which you may end up losing by paying debts and interests to your credit card company.

Debit vs Credit Cards

Most people are often confused when they are asked the question of which is better, a credit card or a debit card? The answer to this is quite tricky too. Most people who see things just as they happen answer as credit card as they have the leverage and luxury to spend more with it and repay it later. But those are wise and who knows the nuances of financial planning would opt for debit cards as these allows them to plan in future their spending and restrict unnecessary things. Prevention is always better than cure and these debit cards help you prevent a debt and thus saves you a bigger trouble.

Prepaid Debit Cards

These are the next generation debit cards and can be used without even having a bank account. How it works is simpler as its name. All that you need to do it load it with a given amount of money and use it when you need. The amount of money you load in your card is fully controlled by you and you shall be allowed to spend only this amount. There are different ways to load money into these cards. A few among them include payable cheque, a bank transfer from a checking or saving account to your card or a money deposit through a customer care executive. While most of these methods to deposit money into these cards are free, some are chargeable depending upon the bank you opt to go.

Unlike credit cards you can’t overuse these cards once there is no more money and thus helps you cut on your lavish spending. There are always two sides to a coin. So there is some disadvantage of these prepaid cards too. When you don’t plan your expenses or foresee the risks in advance you may end up depositing less money than needed in your card. This may result in an emergency when you have to have enough money and thus may prove fatal. So, if you prefer to go with a prepaid debit card you must first plan your spending. Make sure you don’t have the exact amount you need to spend but a buffer to accommodate the unseen risks. In other words you need to be a smart spender who will know in advance how much he or she is going to spend when he goes on a trip.

Prepaid Debit Cards Make Budgeting Easy

Some shoppers simply can not resist the temptation of becoming a credit card user. Unfortunately, traditional credit cards are a known cause of debt for thousands of people. When it comes to purchasing goods and services, a prepaid debit card is a far better option. Here are some of the advantages of owning a prepaid debit card.

Prepaid Debit Card

Prepaid Debit Card

Restricts spending

A prepaid debit card does not allow the user to overspend. If the person does not have the required funds in their bank account, they will not be allowed to purchase the particular item. This is a major benefit to people who have a difficult time in sticking to a budget.

Privacy

A traditional credit card company tracks every expense of the customer. On the other hand, a prepaid debit card allows the user to shop anonymously. Although the person will be able to track their own transaction history, no marketing companies will be able to invade their privacy.

Simplicity

Prepaid debit cards are very easy to use. Although some people still use checks and money orders to make payments, these methods are becoming less popular with each passing year. The prepaid debit card can even be used to make online purchases.

Use at surcharge-free ATMs

A Kaiku prepaid debit card can be used to obtain cash at various ATMs across the country. Although the prepaid debit card can easily be swiped at a store, there are times when a person may need paper money.

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