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Factors Influencing Your Auto Insurance Premiums
As time passes there is one thing that keeps increasing, your car insurance premiums.? Or how, after receiving a speeding ticket, your auto insurance company suddenly surprises you with a doubled (even tripled) insurance premium?
How about when your teenager started taking out the family car? Did your jaw drop when you found out how much more your car insurance premiums were going to go up once you added your teenager driver?
Everyone is looking for ways to save money, and the easiest way to save a large amount of cash is by looking over your current car insurance coverage and premiums.
The Car
The vehicle make and model is a very large factor to consider when figuring your car insurance premiums.. A more expensive car costs higher to insure for obvious reasons, but did you know that you might actually spend more on auto insurance for a smaller vehicle as compared to a larger one?
Statistics also play a big role when it comes to determining which types, car model, year, and manufacturer would cost more to insure. The vehicle\’s safety rating or crash test rating will also play a large role in calculating the annual premiums.. The popularity of your vehicle among car theft would also take into consideration.
Your Age
How old you are is another large factor in determining your annual insurance premiums.. Each age group would have its own overall capacity to avoid car accidents, hence each would fall into certain risk profiles.
Teen drivers and beginner drivers cost the most to insure, and so do older senior citizen drivers Apparently, once we hit your mid-twenties we magically turn into safer drivers, hence better rates until we reach retirement. There are years of documented data that can back up the claim that age does effect premiums.
Driving History
Driving History
Your Gender
Diversification of your investment money is important. You should never put all of your money into one company. Because you have no control over how that company does or how other investors react to the company´s news, it is best to hedge your dollars by spreading the risk around.
Yet it is possible to over-diversify. Because mutual funds have so much money to invest, they struggle with finding good companies to buy. To keep to the rules of diversifying the portfolio, they cannot invest usually more than 5% of their assets in one single company. This results in lots of dollars being invested into companies you would never consider.
Mutual Funds have to buy lots of mediocre or bad companies because they need to diversify and do something with the billions of dollars they have. It gives the fund shareholders the impression that their money is being invested and the fund managers gladly charge you a healthy management fee.
It makes far more sense to contribute to a money market fund where there are no fluctuations and then use that fund to make your investment purchases.
Mutual funds do have the advantage of providing liquidity. You can sell and have your cash within a couple of days. But the question is begged why are you pulling out? Investment money is money you should not need right away.
Dollar Cost Averaging is not a benefit if you are getting poor returns. Believe me, I invested consistently for fifteen years directly into various mutual funds. I bought over $125,000 in mutual funds with the biggest dealer and ended up with an averaged return of a criminal 2.05% a year!
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You would not believe the rates we are offering on Non Owner Car Insurance http://freeautoinsuranceratequote.com/ASE/Non-Owner-Car-Insurance.html
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