Scams and frauds are designed to take your money through false promises and phony claims. Money management is supposedly designed to increase your net worth. Sometimes these two worlds meet and the results are not in your favor, i.e., you have a considerable decrease in net worth.
The information in this article won't keep future money managers honest but it will help you find the one who is right for your situation. There are four criteria you must consider before you give your money to anyone to manage.
1) Philosophy-- This is the thought theology used by the money manager to make your money grow. In other words, does (s)he focus on stocks, options, mutual funds, annuities, a blend of investment vehicles, etc.? Does this philosophy coincide with your risk tolerance? If stocks are too risky, a manager concentrating in that arena isn't for you. The philosophy also points you to their performance.
2) Performance-- We all know the markets are not stagnant. They go up, they go down. No investment manager can predict the market with absolute certainty. But, they should perform well, or even above average, in their specialty. For example, a stock focused money manager in today's market environment should have performance numbers that would make even Warren Buffet take notice. You want as long a performance record as possbile. To be fair, one market cycle should give you a decent indication of the manager's performance in his/her area(s) of expertise.
3) Process-- This is the means the manager uses to select securities for the portfolios. For example, does (s)he relyonly on in house research or does (s)he incorporate researchfrom outside sources? If so, who are they and on what frequency are they used?
4) Personnel-- Besides wanting to know the manager's experience, you'd be wise to learn all you could about the folks working in the office. Who actually manages the portfolio? His/her experience? How long has (s)he been in business? Who will manage your account when (s)he is out of the office, on vacation, on business?
Some people would say cost is one of the criteria. I say it is, but to a lesser degree. In over 30 years in this business, I can guarantee that paying the highest commission did not necessarily result in receiving the best advice. Paying the lowest commission did not necessarily result in receiving the worst advice.
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having awinning team working for you. Make the above four parameters yourprimary criteria and cost will take care of itself.
How? You will be quoted a charge. If you are not comfortable with that price, negotiate. All fees and commissions are negotiable. If the manager refuses to negotiate, then and only then, make cost a member of the criteria team.
This article won't solve all of the money management problems or costs associated therewith. However, it'll at least start you thinking in the right direction and keepyour money in your pocket until you are ready to hand it over.
Thursday, February 28, 2008
Tuesday, February 26, 2008
SELL MY HOUSE FAST
What are the options for anyone looking to sell their property?
Traditional Estate Agent route - expensive and VERY slow Online Estate Agent - less expensive but still slow Property auction - fast but price not guaranteed to reach reserve, still have to pay auction house fees and VAT Sell to a buyer who specializes in purchasing property for cash - slightly below market value but VERY fast DIY private house sale - a fast option that could save you £000s So, how do you go about selling your house privately?
This might sound like a scary alternative but with the advent of the Internet it really is a viable alternative to the snail-like High Street option and is gathering popularity amongst house-sellers fed up of being charged £000s for selling their properties. We often forget that Estate Agents are unregulated salesmen with no professional valuation training other than an inside knowledge of what other properties on their books have sold for. The only true professionals involved in the house buying and selling process are the surveyor and conveyancing solicitor.
There are just 4 easy steps to making a private house sale:
PRICING.
There are websites available where you can check the actual selling prices of properties in your area (rather than the over-inflated estimates dreamt up by untrained agents). These will give you a much more accurate idea of what your property is worth. Depending on how quickly you wish to sell should influence how much above or below this figure you are willing to set your price at. Bear in mind that a potential buyer may wish to negotiate you down on the advertised price so don’t pitch it at your absolute minimum, as this will leave you no room for manoeuvre.
ADVERTISING.
Online advertising fees are much more reasonable than those of commission-based Estate Agents and websites that advertise your property have clear itemised lists of added extras you can purchase if you so desire but these are not always necessary.
HIP.
Any property sold on the open market must have a Home Information Pack, which will cost around £350 and can be commissioned independently.
DETAILS.
All you need is a digital camera and a reasonable eye for a good photo. You need around 6-10 decent pictures of the front of the house, garden and key rooms plus accurate internal measurements. For a small additional cost, online property advertising sites will also provide a customised For Sale sign, as these are great for generating interest from local buyers. You can get your property details online in a fraction of the time it takes an Estate Agent to start advertising. If you really don’t feel up to trying this alternative why not consider a quick cash sale to a company that specializes in this market. They can complete within 4 weeks of your initial enquiry and provide the peace of mind of a guaranteed property sale (no pulling out at the last moment and no broken chains). When you consider that Estate Agents over-value properties by between 5%-15% and you may have to reduce your price to slightly below the surveyors valuation to secure a quick sale this option doesn’t sound quite as bad as you might first imagine. If you also factor in the benefits of a free valuation by an independent surveyor, free legal fees and no requirement for a Home Information Pack plus completion in around 4 weeks Sell-My-House-Fast could be THE quick and economical solution to your current financial difficulties.
Traditional Estate Agent route - expensive and VERY slow Online Estate Agent - less expensive but still slow Property auction - fast but price not guaranteed to reach reserve, still have to pay auction house fees and VAT Sell to a buyer who specializes in purchasing property for cash - slightly below market value but VERY fast DIY private house sale - a fast option that could save you £000s So, how do you go about selling your house privately?
This might sound like a scary alternative but with the advent of the Internet it really is a viable alternative to the snail-like High Street option and is gathering popularity amongst house-sellers fed up of being charged £000s for selling their properties. We often forget that Estate Agents are unregulated salesmen with no professional valuation training other than an inside knowledge of what other properties on their books have sold for. The only true professionals involved in the house buying and selling process are the surveyor and conveyancing solicitor.
There are just 4 easy steps to making a private house sale:
PRICING.
There are websites available where you can check the actual selling prices of properties in your area (rather than the over-inflated estimates dreamt up by untrained agents). These will give you a much more accurate idea of what your property is worth. Depending on how quickly you wish to sell should influence how much above or below this figure you are willing to set your price at. Bear in mind that a potential buyer may wish to negotiate you down on the advertised price so don’t pitch it at your absolute minimum, as this will leave you no room for manoeuvre.
ADVERTISING.
Online advertising fees are much more reasonable than those of commission-based Estate Agents and websites that advertise your property have clear itemised lists of added extras you can purchase if you so desire but these are not always necessary.
HIP.
Any property sold on the open market must have a Home Information Pack, which will cost around £350 and can be commissioned independently.
DETAILS.
All you need is a digital camera and a reasonable eye for a good photo. You need around 6-10 decent pictures of the front of the house, garden and key rooms plus accurate internal measurements. For a small additional cost, online property advertising sites will also provide a customised For Sale sign, as these are great for generating interest from local buyers. You can get your property details online in a fraction of the time it takes an Estate Agent to start advertising. If you really don’t feel up to trying this alternative why not consider a quick cash sale to a company that specializes in this market. They can complete within 4 weeks of your initial enquiry and provide the peace of mind of a guaranteed property sale (no pulling out at the last moment and no broken chains). When you consider that Estate Agents over-value properties by between 5%-15% and you may have to reduce your price to slightly below the surveyors valuation to secure a quick sale this option doesn’t sound quite as bad as you might first imagine. If you also factor in the benefits of a free valuation by an independent surveyor, free legal fees and no requirement for a Home Information Pack plus completion in around 4 weeks Sell-My-House-Fast could be THE quick and economical solution to your current financial difficulties.
STOCK MARKET STRATEGIES DECISIONS
Initiate TradeThe trading strategy begins with leading off by placing a position in anticipation that the possible Head & Shoulders Bottom will be activated. This is a vertical bull call spread. Lower strike calls are purchased and higher strike calls are sold. An approximate upside measuring objective can be obtained at this time. This would imply placing a vertical bull call spread with the highest strike at the measuring objective. It is suggested, however, that the closest out-of the-money calls be purchased and the calls one strike higher be sold. This is for liquidity considerations in anticipation of follow-up action when the neckline is penetrated.
The next lower level in the decision tree shows the two most distinct price moves that could occur a rally or a sell off. The market also could move sideways or experience myriad other price gyrations.
Valid Breakout
A close above the neckline on a noticeable increase in volume officially activates the H&S Bottom, This allows the technician to construct the specific upside measuring objective. It is also the time to make any trading strategy more directionally aggressive. For a vertical bull call spread, one-half of the losing leg should be liquidated. This means buying back covering one half of the higher strike calls that were sold short.
It is of almost importance for any trader to have a defined risk parameter. For classical bar chartists, this is usually straightforward. Assuming there was no possible second left shoulder on the chart, the technician would not expect the low of the right shoulder to be taken out. Thus, the bullish outlook would not seriously deteriorate unless a sell off to below the right shoulder occurred. Stop-loss orders in the options themselves are not usually recommended. A mental stop in the underlying instrument is the preferred approach. This means, of course, that a trader must possess the discipline to exit from a losing options position if the technical aspects of the underlying instrument begin breaking down.
Failure
Any Head & Shoulders formation is destroyed when the extreme of the head is violated, even intra day. Any bull strategy must be abandoned. The entire vertical bull spread should be liquidated.
Making a new price low affirms that the direction of the major trend remains downward. It does not automatically create a specific downside measuring objective. Therefore, it is never advisable to liquidate the long calls and stay with the short calls of the vertical spread. The position would turn into one of unlimited risk. It is far better to exit from a losing position and look for another more clear-cut technical situation.
Objective Met
When any classical bar charting measuring objective is met, it is prudent to realize at least some profits. In the case of the Head & Shoulders formation, profits on one-quarter to one-half of the position should be taken. Why only 25 percent? An H&S measuring objective is a minimum target. Although no specific maximum objective can be calculated, quotes often move far beyond the minimum objective. A trader should try to follow the old adage of cutting losses and letting profits run. This is what is being done in removing only a portion of the winning trade. The decision to exit from the remaining open positions should be based on usual support/resistance and volume/open interest considerations.
Fullback
In the long run, the most optimal path through the decision tree would flow. A price sell-off on declining volume back to the neckline would prompt removal of any remaining bearish positions. All short calls should be covered. The resulting position is simply long call options. Note that this is the technical situation in the options strategy matrix that results in the long call strategy.
Objective Met
A trader should begin to take partial profits when an objective is achieved. Removing 25 to 50 percent of all bullish positions is suggested. But this is, as economists are wont to say, all other things beingequal. This is not usually the case. For example, if the underlying instrument is a futures contract, open interest changes become important. In a futures contract, open interest declining as a price target is being achieved is a warning signal. The percentage of profitable positions removed would move up to 75 percent.
In general, protective mental sell-stops in the underlying instrument would follow the market up moving in fits and starts depending upon where support formed on the chart.
Symmetry Destroyed
If quotes move below the right shoulder low, the symmetry of the Head & Shoulders Bottom is destroyed. This does not automatically invalidate the pattern. The pattern is destroyed if the low of the head is taken out. But a trader must begin to mitigate the loss of the long call position. Removing approximately one-half of the long calls would accomplish this.
Another Chance
Since the Head & Shoulders Bottom remains valid, the original upside measuring objective is intact. A bullish stance should be held unless the low of this second pullback is taken out. The decision to add to bull positions is tricky. A close above the neckline once again would certainly revive the bullish look of the chart. Aggressive traders can then look to increase a bullish bias possibly with outright longs in the underlying instrument rather than long calls.
Pattern DestroyedThe worst path through the decision tree culminates, the H&S pattern has failed. Although the H&S formation is usually highly reliable, it does fail in up to 20 percent of the cases. If enough premium is remaining in the long call options, they can be liquidated. If so little premium remains, they can be held rather than paying commissions. May be the trader will get lucky and a price rally will occur. But a trader who uses the words luck or hope is in a terrible situation.
The next lower level in the decision tree shows the two most distinct price moves that could occur a rally or a sell off. The market also could move sideways or experience myriad other price gyrations.
Valid Breakout
A close above the neckline on a noticeable increase in volume officially activates the H&S Bottom, This allows the technician to construct the specific upside measuring objective. It is also the time to make any trading strategy more directionally aggressive. For a vertical bull call spread, one-half of the losing leg should be liquidated. This means buying back covering one half of the higher strike calls that were sold short.
It is of almost importance for any trader to have a defined risk parameter. For classical bar chartists, this is usually straightforward. Assuming there was no possible second left shoulder on the chart, the technician would not expect the low of the right shoulder to be taken out. Thus, the bullish outlook would not seriously deteriorate unless a sell off to below the right shoulder occurred. Stop-loss orders in the options themselves are not usually recommended. A mental stop in the underlying instrument is the preferred approach. This means, of course, that a trader must possess the discipline to exit from a losing options position if the technical aspects of the underlying instrument begin breaking down.
Failure
Any Head & Shoulders formation is destroyed when the extreme of the head is violated, even intra day. Any bull strategy must be abandoned. The entire vertical bull spread should be liquidated.
Making a new price low affirms that the direction of the major trend remains downward. It does not automatically create a specific downside measuring objective. Therefore, it is never advisable to liquidate the long calls and stay with the short calls of the vertical spread. The position would turn into one of unlimited risk. It is far better to exit from a losing position and look for another more clear-cut technical situation.
Objective Met
When any classical bar charting measuring objective is met, it is prudent to realize at least some profits. In the case of the Head & Shoulders formation, profits on one-quarter to one-half of the position should be taken. Why only 25 percent? An H&S measuring objective is a minimum target. Although no specific maximum objective can be calculated, quotes often move far beyond the minimum objective. A trader should try to follow the old adage of cutting losses and letting profits run. This is what is being done in removing only a portion of the winning trade. The decision to exit from the remaining open positions should be based on usual support/resistance and volume/open interest considerations.
Fullback
In the long run, the most optimal path through the decision tree would flow. A price sell-off on declining volume back to the neckline would prompt removal of any remaining bearish positions. All short calls should be covered. The resulting position is simply long call options. Note that this is the technical situation in the options strategy matrix that results in the long call strategy.
Objective Met
A trader should begin to take partial profits when an objective is achieved. Removing 25 to 50 percent of all bullish positions is suggested. But this is, as economists are wont to say, all other things beingequal. This is not usually the case. For example, if the underlying instrument is a futures contract, open interest changes become important. In a futures contract, open interest declining as a price target is being achieved is a warning signal. The percentage of profitable positions removed would move up to 75 percent.
In general, protective mental sell-stops in the underlying instrument would follow the market up moving in fits and starts depending upon where support formed on the chart.
Symmetry Destroyed
If quotes move below the right shoulder low, the symmetry of the Head & Shoulders Bottom is destroyed. This does not automatically invalidate the pattern. The pattern is destroyed if the low of the head is taken out. But a trader must begin to mitigate the loss of the long call position. Removing approximately one-half of the long calls would accomplish this.
Another Chance
Since the Head & Shoulders Bottom remains valid, the original upside measuring objective is intact. A bullish stance should be held unless the low of this second pullback is taken out. The decision to add to bull positions is tricky. A close above the neckline once again would certainly revive the bullish look of the chart. Aggressive traders can then look to increase a bullish bias possibly with outright longs in the underlying instrument rather than long calls.
Pattern DestroyedThe worst path through the decision tree culminates, the H&S pattern has failed. Although the H&S formation is usually highly reliable, it does fail in up to 20 percent of the cases. If enough premium is remaining in the long call options, they can be liquidated. If so little premium remains, they can be held rather than paying commissions. May be the trader will get lucky and a price rally will occur. But a trader who uses the words luck or hope is in a terrible situation.
Thursday, February 21, 2008
EVERYTHING THAT YOU NEED TO KNOW ABOUT HEALTH INSURANCE
A Health Insurance refers to the policy which is designed in such a way that it helps and protects you and your family from high expenditure on health coverage and other medical care service. Usually a monthly premium is paid, which is taken to be a co-payment for the services that you get. The health insurance premium can be paid to the insurer on monthly, quarterly and annual basis. Deductibles refer to the amounts which are paid for the covered services, within a period of time, according to the terms and conditions with your insurance agent. There are numerous members who have higher deductibles and these people need to pay their first installment in thousands of dollars, before the insurance company begins to make the payments. A co-payment refers to the amount which is paid by the member along with the physicians' visit and also with the doctors and surgical care.
Health Insurance can be separated into two types, such as the managed care plans and indemnity plans. Managed care plans comprise different plans such as preferred provider organizations, the health maintenance organizations and the point of service plans. If you take indemnity plans, you are given the liberty to decide your own medical doctor as well as spend for your medical costs. Different payment options are given for such expenditures, and the expense can be made totality or in specified amounts for a day. There are many managed care plans which will offer you with wider coverage which is related to an arrangement which is made between the selected network and the insurer which will help you to organize all your health care, which will also aid you to get referred to various specialists in the network. The health insurance policy which is subsidized by the employer is taken as the most reasonably priced and in cases where the employer is not given the facility of health insurance, there has be an individual health insurance policy.
In cases of good health insurance, there are many types of coverages. For instance, there is one for hospital expenditure which will help you to give payments for your board, room and other incidental expenses, if you are hospitalized. There are various surgical expenses insurance which will help you to give coverage for the surgeon's charge and other related expenses. There is a physician's expense insurance which will aid you to spend for the visits to different doctors and hospitals. There is also a major kind of medical insurance which offers an ample coverage and maximum benefit policy, which is specifically designed to give you with high range benefits and protects against several catastrophic losses. Before choosing any kind of health insurance facilities, you need to consider the amount of affordability of the hospital care and the doctor's visit.
Health Insurance can be separated into two types, such as the managed care plans and indemnity plans. Managed care plans comprise different plans such as preferred provider organizations, the health maintenance organizations and the point of service plans. If you take indemnity plans, you are given the liberty to decide your own medical doctor as well as spend for your medical costs. Different payment options are given for such expenditures, and the expense can be made totality or in specified amounts for a day. There are many managed care plans which will offer you with wider coverage which is related to an arrangement which is made between the selected network and the insurer which will help you to organize all your health care, which will also aid you to get referred to various specialists in the network. The health insurance policy which is subsidized by the employer is taken as the most reasonably priced and in cases where the employer is not given the facility of health insurance, there has be an individual health insurance policy.
In cases of good health insurance, there are many types of coverages. For instance, there is one for hospital expenditure which will help you to give payments for your board, room and other incidental expenses, if you are hospitalized. There are various surgical expenses insurance which will help you to give coverage for the surgeon's charge and other related expenses. There is a physician's expense insurance which will aid you to spend for the visits to different doctors and hospitals. There is also a major kind of medical insurance which offers an ample coverage and maximum benefit policy, which is specifically designed to give you with high range benefits and protects against several catastrophic losses. Before choosing any kind of health insurance facilities, you need to consider the amount of affordability of the hospital care and the doctor's visit.
Tuesday, February 19, 2008
CAR INSURANCE OVER THE PHONE OR WEB?
I don't like computers - another great waste of time as far as I'm concerned, though I am forced to use one a couple of hours a week for work - but spotting my wife's laptop on the kitchen, I figured I could at least go online and try out one of those sites where they do all the searching around for the best quotes.
But how much money was I actually going to save? I could have given in and simply renewed with my existing insurer, regardless of the fact that they'd seem to have ignored my five years of no claims and spotless driving record and lovingly given me practically the same price as last year.
Sorting out car insurance was not the best, most interesting way to use up a morning off work, so I allowed my dislike of computers to be overridden by a sheer necessity to alleviate this increasing boredom and disinterest.
The clock was ticking and there were a range of more appealing jobs to do around the house, like mending the fence, oiling that squeaky living room door, or even chucking the dog's blanket in the wash.
I looked at the computer again. Feeling my arm still aching from cradling the phone while struggling around with my driving documents and scribbling numbers and names down on scraps of paper I knew I was going to have to make a rational decision over my now apparent irrational dislike of modern technology.
So I made a cup of tea. Then refreshed, and with a combination of mock enthusiasm and a desire to get on with the rest of the morning, I turned on the computer and found a web site that, without me barely realising, had found me a pretty good deal on car insurance.
And I saved some money. So much in fact that for spending 10 minutes online filling out a simple and easy to use form, it was worth more to renew my car insurance this way than it was to have gone into work and earn money!
Of course, I put the laptop back in exactly the same place as my wife had left it. I'm always telling her they're a waste of time, though maybe know I'll have to admit that for some things, they're pretty useful. Though of course, I'd rather wash the dog any day of the week.
But how much money was I actually going to save? I could have given in and simply renewed with my existing insurer, regardless of the fact that they'd seem to have ignored my five years of no claims and spotless driving record and lovingly given me practically the same price as last year.
Sorting out car insurance was not the best, most interesting way to use up a morning off work, so I allowed my dislike of computers to be overridden by a sheer necessity to alleviate this increasing boredom and disinterest.
The clock was ticking and there were a range of more appealing jobs to do around the house, like mending the fence, oiling that squeaky living room door, or even chucking the dog's blanket in the wash.
I looked at the computer again. Feeling my arm still aching from cradling the phone while struggling around with my driving documents and scribbling numbers and names down on scraps of paper I knew I was going to have to make a rational decision over my now apparent irrational dislike of modern technology.
So I made a cup of tea. Then refreshed, and with a combination of mock enthusiasm and a desire to get on with the rest of the morning, I turned on the computer and found a web site that, without me barely realising, had found me a pretty good deal on car insurance.
And I saved some money. So much in fact that for spending 10 minutes online filling out a simple and easy to use form, it was worth more to renew my car insurance this way than it was to have gone into work and earn money!
Of course, I put the laptop back in exactly the same place as my wife had left it. I'm always telling her they're a waste of time, though maybe know I'll have to admit that for some things, they're pretty useful. Though of course, I'd rather wash the dog any day of the week.
GETTING THE LOWEST CAR INSURANCE QUOTE
Finding the lowest car insurance quote is something that most people do not take the time to do. I have a hard time understanding this, because many of these people are the same ones who will drive all the way across town to save a penny a gallon for gas or will buy 15 cases of mustard because they save 50 cents. But while they are saving nickels and dimes, the dollars are racing out the door because they are not paying attention to their car insurance.
I have no beef with bargain hunters and commend them for their perseverance. But at the same time, it only makes good common sense that if you are going to get the best prices on things, be sure to include a big ticket item such as your auto insurance. Sure it takes more effort to understand what you are comparing, but at the end of the day it makes a huge amount of financial sense.
If you are like most people, you simply renew your auto insurance every year without getting a new quote, even from the same company. It's the easiest way to do it, but remember that easy is not the same as cost effective. Car insurance rates are changing all the time, and if you don't spend the time to comparison shop, chances are better than excellent that you are paying more than you need to.
I am not saying that your current car insurance company is ripping you off. The truth of the matter is that they might be offering you the best deal available for your particular driving habits and situation. But the keyword here is "might", and if you don't do any comparison shopping, you'll never know that, will you?
One classic example is one of the most costly coverages you can have on your car, which is collision insurance. When your car was new, your finance company required you to carry collision insurance. But if your car is paid off, did you know that you can legally DROP the collision coverage? Or if your collision deductible is $100, you are paying about three to four times more for it compared to having a collision deductible set at $1000.What are your coverage limits? As an example, looking at the personal liability coverage that almost all states require you to have, if the policy limit is set at $25,000 that is barely going to cover anything in today's lawsuit-happy world and you are really not protecting yourself with that level of coverage limit.
A more reasonable limit that would truly protect you would be something like $250,000. Yes it will cost more, but there is no sense in paying for something that is going to provide inadequate protection if you need to file a claim.Get car insurance quotes from various companies to compare rates and programs, and make sure you are comparing apples to apples in terms of deductibles and coverage limits. You are also encouraged to get an online car insurance quote to see what can be offered there. Frequently these companies can offer extremely aggressive rates, and you might be pleasantly surprised to find out how much you can save.
There is no cost to get an online quote, but you cannot really compare quotes if you don't get one.Do your comparison shopping, just as you would for any other major purchase, to make sure you are getting the most value for the money you are spending. Don't merely renew your existing policy every year just because it is easy.
I have no beef with bargain hunters and commend them for their perseverance. But at the same time, it only makes good common sense that if you are going to get the best prices on things, be sure to include a big ticket item such as your auto insurance. Sure it takes more effort to understand what you are comparing, but at the end of the day it makes a huge amount of financial sense.
If you are like most people, you simply renew your auto insurance every year without getting a new quote, even from the same company. It's the easiest way to do it, but remember that easy is not the same as cost effective. Car insurance rates are changing all the time, and if you don't spend the time to comparison shop, chances are better than excellent that you are paying more than you need to.
I am not saying that your current car insurance company is ripping you off. The truth of the matter is that they might be offering you the best deal available for your particular driving habits and situation. But the keyword here is "might", and if you don't do any comparison shopping, you'll never know that, will you?
One classic example is one of the most costly coverages you can have on your car, which is collision insurance. When your car was new, your finance company required you to carry collision insurance. But if your car is paid off, did you know that you can legally DROP the collision coverage? Or if your collision deductible is $100, you are paying about three to four times more for it compared to having a collision deductible set at $1000.What are your coverage limits? As an example, looking at the personal liability coverage that almost all states require you to have, if the policy limit is set at $25,000 that is barely going to cover anything in today's lawsuit-happy world and you are really not protecting yourself with that level of coverage limit.
A more reasonable limit that would truly protect you would be something like $250,000. Yes it will cost more, but there is no sense in paying for something that is going to provide inadequate protection if you need to file a claim.Get car insurance quotes from various companies to compare rates and programs, and make sure you are comparing apples to apples in terms of deductibles and coverage limits. You are also encouraged to get an online car insurance quote to see what can be offered there. Frequently these companies can offer extremely aggressive rates, and you might be pleasantly surprised to find out how much you can save.
There is no cost to get an online quote, but you cannot really compare quotes if you don't get one.Do your comparison shopping, just as you would for any other major purchase, to make sure you are getting the most value for the money you are spending. Don't merely renew your existing policy every year just because it is easy.
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