How to Slash Rates on Your Auto Insurance

Auto insurance is a mundane game, right up there with root canals and visits from the in-laws; they’re things people don’t want to experience, but have to.

So as long as you’re stuck paying auto insurance, at least you can find ways to cut the costs of buying it.

Here are some of the best ways that BankingMyWay found to do just that:

Order the “combo” platter – If you buy your home and car insurance from the same company, you save, as the commercial says, up to 15% off your car insurance. That’s the figure stated from the Independent Insurance Agents & Brokers of America.

Shop online – If you value a local insurance company in town, or a short drive away, skip past this tip. But if you don’t care where your auto insurer’s office is, go online for a great deal. Online auto-insurers tend to be short on great, hands-on customer service, but they’re very good on getting you lower rates, since their administration and operating costs are so low.

Leverage good credit – No doubt about it, the better your credit, the lower your auto insurance rates. Consumers with good credit scores of about 660 and above can expect good discounts at the auto insurance checkout counter.

Avoid collision insurance – If your car is paid off, or you’re driving around town in an aging, beat-up junker, your need for collision insurance isn’t a big one. By removing collision insurance, you can take up to 20% off your auto insurance. A note: without collision insurance, you’ll need some money set aside for “crash” emergencies, the amount of which should be based on the current Kelly Bluebook value of your car.

Raise your deductible – To lower your insurance rates, just raise your deductible. Raising your deductible from $150 to $500, or even $1,000, could save you up to 15% off your insurance rates.

Get a “two vehicle” discount – If you own more than one car, or even a car and a boat, ask your insurer for a multiple vehicle discount. To get your business on both vehicles, chances are your agent will green light a discount.

US boat buyers offered payment protection

PROTECTION: Taking a lead from the US auto industry, Brunswick has set up a payment protection programme for buyers of its Bayliner, Maxum and Trophy brands.

Under the protection promotion these three Brunswick boat brands will make the monthly boat payments for those buyers who may unfortunately lose their jobs due to current economic conditions, said Brunswick in a statement released on 22 May.

Bayliner, Maxum and Trophy will pay up to nine months of payments if the boat buyer loses his or her job within a year after the boat purchase.

‘In today’s economy, it is important to alleviate consumer concerns over many issues, including the potential of job loss,’ said Brunswick chairman and chief executive officer Dustan E. McCoy. ‘So, we’re addressing it in an effective and impactful manner within the marine community. These brands aim to restore some confidence for the American boat buyer so they can make their dream boat purchase this summer, because we stand behind them not only with quality products, but also with resourceful financing and insurance options.’

Payment Protection is offered for all models in the Bayliner, Maxum and Trophy brand lines, with the qualifying monthly payments going up to $500, McCoy explained.

The promotion started for the US Memorial Day weekend – which suns as the same time as the UK Spring Bank Holiday - to help them sell more new boats during this year's peak boat selling season, which Brunswick says continues through the Fourth of July weekend. Customers must take delivery of their new boats by 6 July.

‘These brands are among the first in the marine industry to launch such a large-scale payment protection program,’ said the president of Brunswick's US Marine and Outboard Boat Group divisions, Andy Graves. ‘We’re taking our cue from similar efforts that have been used successfully in the automotive industry by Hyundai, Ford and General Motors.’

Warships blamed for Somali piracy

Somali minister has said the problem of piracy in the region is being made worse by those countries deploying warships off the coast.

Abdul Karis Osman Issa, public works minister in semi-autonomous Puntland, said investment should be directed at building mainland security instead.

He said ransom payments to pirates mean they are better financed and armed than the regional government.

Meanwhile, Mogadishu is reportedly calm after three days of fierce fighting.

But correspondents in the city say clashes between pro-government forces and opposition Islamist groups could resume at any time.

More than 50 people have been killed in the clashes, which began on Thursday and escalated late on Saturday in a district close to the presidential palace.

Somalia, a nation of about eight million people, has experienced almost constant conflict since the collapse of its central government in January 1991.