The Kind Tips – Tips for Life, Study, Work and Entertainment – 4 Money Saving Tips on Van Insurance

4 Money Saving Tips on Van Insurance

4 Money Saving Tips on Van Insurance

No matter why you drive a van—just as way to go around or for business purpose, you will need to have an insurance with stuffiest coverage at hand. The insurance for vans can be very expensive, however, there are strategies that can help you save money while not sacrifice your safety and security.

1. Increase the deductible.

When talking about insurance coverage, the monthly premium and deductible are always moving in the opposite direction, which means, when you raise the deductible, you can cut the cost on the monthly premium. The money saved by doing this should not be for other purposes, at least for the starting period, instead, the money should be saved and used for your self-pay deductible. Just put the money into a saving account until it contains enough money to pay for the cost of the deductible. When the deductible is completely financed, the extra savings can be used as you would like to.

2. Consider dropping collision insurance.

Collision insurance is a part of your coverage that you may want to think about when your van is a fairly old model. Normally, the most that the insurance company is willing to pay for a claim equals the value of your vehicle and the extra coverage may not be worth it. Calculate your van’s value according to a reliable source such as Kelley Blue Book (KBB) and then figure out the collision part of the cost of your insurance. In a case that the van’s value is less than ten times of that of the premium, it is the time to think about dropping that portion of coverage.

3. Install anti-theft devices.

Some insurance companies offer discounts for installing safety devices such as airbags, anti-lock brakes, or other anti-theft devices like GPS and wheel locks. If you already have certain anti-theft devices on your van, contact your insurance company and request for discount. If you don’t have those devices, ask an agent how much could be save if you install one. You may save more by just investing a little money on the device and you also get better safety for your vehicle.

4. Take a defensive driver course.

Taking a defensive driver course can not only get you educated about defensive driving, but is also an excellent way of lowering the insurance premiums. Discuss with an agent of your insurance company to see which courses are qualified. If you are an AAA member, you can also check that with the local office. Some AAA offices provide the defensive driving courses in order to help drives stay sharp and focus behind their wheels.

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