The insurance industry is happy to sell you insurance just about anything you want. There are four things you need to keep in mind regarding insurance.

The first one is to cover big risks, only risk that will financially devastate you need to be insure. For example, if you are the breadwinner of the house with kids, get life insurance for yourself so your dependents can take care of themselves and pay the bills if something happen to you.

Second, do not over insure. Buy the right kind of insurance and with the right amount. Don’t buy too much, avoid policies that only paid on certain events were only cover a certain loan.

Cancel coverage that you don’t really need. For example, disability is important to ensure your income that if you can’t work you still have income to pay your bills but when you’re retired you don’t need disability coverage. Many retired people keep it but they should cancel it.

Keep your emotions out. Do not buy insurance for emotions reason, it should be an objective reason. If you are very emotional about a recent tragedy, wait and cool off for a little while before you buy insurance to cover your family.

Insurance for weddings, this is very popular in the UK and is now taking a hold of the United States. You can buy insurance that cover the facility cancellation fee, no-show photographer, stolen gifts and even policy to cover if the bride or groom get cold feet. The wedding insurance can cost about 1 to 2% of the wedding ceremony. Deal with reputable insurance companies that will give you the refund if something wrong happened. In general, you don’t need to buy this, just make sure you are careful when planning your wedding and with the wedding services.

Travel insurance is really three components. One, trip cancellation, two personal items coverage, and travel medical coverage. Trip cancellation fee and personal items coverage, make sure you deal with a reputable travel insurance agency. If you have to cancel your trip it will be refundable back to your credit or cruise line. Buy the cancellation waiver only, which is 40 or $50. Because travel with trip cancellation can cost $500-$700, cancellation waiver cost a lot lower. Check your homeowner policy it may cover that or if you book your trip on your credit card it may have cancellation coverage and personal items coverage.

Travel medical insurance is important if you are traveling abroad especially for rock-climbing, scuba diving, any kind of extreme activities. Your health insurance may not cover emergency medical attention or emergency medical evacuation, so check your health insurance policy and you may want to buy travel medical insurance.

Something else is getting very popular right now is buying insurance for your pets. The trend is people are humanizing their pet and treating them as family members. There is pet health insurance coverage for routine treatments, exams, x-rays and surgeries. The average cost is about $30-$40 per month or $350-$500 per year. Our advice is only cover something will put you at financial risk and pet insurance is not something we would recommend buying.

No auto insurance policies are the same but most drivers figure they know what important to their insurance policy. While your road record is a factor but so is your credit score, nearly every auto insurance company are starting to use your credit score to set your premium. Some may put more weight on your credit history than your driving history.

State Senator Jeff Plale had cosponsor a bill that banned the practice because he says on the surface it doesn’t seem to make sense.

However, the auto insurance industry says there is a link, in fact they say state and federal studies have constantly found a strong correlation between credit scores and the risk of loss. There are several studies done that demonstrate a high correlation between your credit score and your likelihood to file a claim and it correlates with both numbers of claims and the dollar amount.

That may be the key risk the auto insurance company are assessing and not the risk of getting into an accident, it is the risk of filing a claim. That the insurance companies claim credit score can help in the future.

Credit scoring means low rates for more than 60% of the consumers but the practice is not good news for everyone. The people are most affected by are people who are not responsibly use their credit or who may have inaccuracy record on their credit report.

The bill to ban this practice is pending on the state, it is not only using credit score for your car insurance but also your home insurance as well. The insurance companies are allowed to use credit score to factor in setting rates.

The reason why it becomes a pre-own automobile because it is now register to that person and if that person bring it back in. The next person buys it, it is now a pre-own vehicle.

So what does that mean for your auto insurance coverage, generally you’re auto insurance covers toward the actual cash value of your car and not how much the bank loan you the money to buy your car.

For example, if your car is stolen or damaged beyond repair from an accident soon after you brought the new car. The actual cash value may be $14,000 but you owe $18,000 to your bank.

The difference is $4000, the gap will only be cover if you have gap auto insurance policy. Many people are surprised because they don’t think about it, make sure you talk about this insurance policy with your auto insurance agent.

So who needs gap insurance?

The experts generally say anyone buying a new car should consider, especially if you put a small amount of money down and financing the rest. For leasing a new car, gap insurance policy is often required.

Not all insurance company offer gap insurance, so you need to ask your agent. Gap insurance could keep you from coming up short.

Some auto insurance companies don’t cover long-term rentals, other don’t cover rental for business use. If you combine business and vacation trip, you may not be cover.

If you get into an accident the insurance pays the fee for the medical costs. Your own health insurance and auto insurance may also cover this. Personal items coverage protects you from anything stolen from the car; this might also be cover by your home insurance or rental insurance coverage.

Additional liability insurance covers you if you injure someone with a car or damage property. This coverage applied beyond what the rental car company already provides. The collision damage waiver pays for physical damage to the car, if your auto insurance coverage rental, then this waiver is unnecessary.

Some credit card particular American Express and Gold Visa and MasterCard have some coverage for car rental. Car rental and auto insurance company says to get the best deal and the best protection is for you to know what kind of insurance you need before you walk up to the counter.

The Internet makes it easy to compare instant auto insurance rates online and it increase the chance of finding lower rates.

Anyone can do it, here is how.

Compared all insurance quotes from multiple insurance companies. It is a free service provided by the online auto insurance companies.

Look for the auto insurance policy that fits your need and your budget. To buy your auto insurance policy you really need to provide your driver license number and your vehicle ID number. So be prepared, the last step is to make a secure payment & the agreement in order to proceed the process to get instant approved coverage.

Besides taking driving classes and taking defensive driving to get discounts for auto insurance. Another way to save or receive discount on your auto insurance if you’re a young driver is to drive midsized cars. Do not drive sports car with two doors if you want to save money on your auto insurance premium. These cool looking and powerful sports cars might be cool for younger people but if you really want to reduce your insurance cost, you are better off driving midsized cars.

Another way to save money on your auto insurance is to look for and compare auto insurance quotes from different insurance companies. Anyone can easily do this just by searching online; there are thousands of insurance companies trying to sell you their insurance policy online. Before you start searching online, make sure you know what type of insurance you need and what benefits you would like to have. Whether it is comprehensive, third party coverage and so on.

Make sure while you are searching for auto insurance quotes online, look for auto insurance companies that specialized in young drivers. These companies would be your best chance of finding cheap and affordable auto insurance for young drivers. These specialized auto insurance companies are good at packaging different policy for young drivers in the age of 18-25 years old. If you put in a little time to find your auto insurance for young drivers, your effort will paid off with the amount of money you will save over time.

Just imagine what you can buy every month if you didn’t have to spend extra money on your car insurance. There are a few things you can do to low your monthly car insurance cost. All you got to do is try them out; there is no guarantee if all of the tips will work. But all the tips below have work for many other people, and all you have to do is read it and try it out. Some people can even save up to 50% of their car insurance cost. You got nothing to lose.

Tip #1: Always shop around for different car insurance quotes

From GEICO advertisements, they say you can save 15% on your car insurance. But you will never more how much more you can save if you don’t look around. You may be getting a better deal somewhere else. If you haven’t been shopping around for you car insurance cost in the past 12-24 months, you are probably paying too much.

Tip #2: Drive safe, have a clean driving record

Bad driving is expensive because car insurance sees you as a high risk driver.

Slow down when you are driving, there is no need to really go past the speed limit, watch for red lights and stop signs. If you have a clean driving record with no at fault accidents or speeding tickets for 3 years, you should see your car insurance cost drop.

Tip #3: Increase your deductibles

The lower your deductible on your comprehensive and collision coverage, the higher the cost for your car insurance premium. If you have a saving to cover your deductible, you should raise your deductible to $500 – $1000. Ask your car insurance agent before increasing your deductible and see how much money you can save after you increase your deductible.

Tip#4: Drop you comprehensive and collision on your beat up 10 year old car

This tip is related to tip #3. When dropping your car insurance comprehensive and collision on your car insurance policy. Then you are responsible for all the physical damages and if necessary your medical cost when you got into an at fault accident.

Drop your comprehensive and collision only if you have an old car that is not worth repairing after an accident or you can’t afford the comprehensive and collision.

Tip #5: Have clean credit record

Every car insurance company handles your credit differently. Many car insurance companies do not check your credit once you are their customer. However, if you are shopping for new car insurance quotes, almost all insurance companies check your credit. To be safe, make sure to clear up your credit because it will have a big impact on your car insurance cost.

Tip#6: Don’t buy a sport car or sell your sport car

If you own a Porsche or a Dodge Viper (ok most people don’t) and you are hurting for cash because your Porsche or Dodge Viper car insurance is eating up your money. The wise and most reasonable way to go about saving your money on your car insurance is to sell off those types of cars or keep them in your garage until you have enough money to pay for the car insurance.

By selling off those types of sporty cars or removing it from your car insurance policy will greatly reduce your car insurance cost.

Tip #7: Make sure you review your car insurance policy with your car insurance company

If you are already shopped around for your new car insurance quotes online, then you have a good ideal what is the average cost of your car insurance policy. With that information, make sure you talk to your current car insurance agent about other discounts like: Multi cad discount, multi policy discount, driver’s education/defensive driving education and even good driver discounts. After reviewing the other discounts from your current car insurance agent, see how the difference costs from your current car insurance and the other car insurance quotes you can. Then decide if it is wroth switching or stay with your current car insurance company.

Tip #8 Sell your supped up/pimp out your car

This one is related to Tip #6. If you have chrome 18 inched rims, new stereo system, LCD TV, body kits on your car. You would end up paying more for your car insurance because your car insurance not only have to cover your car but also all the extra tools you have on your car. If your car got damage or stolen, your car insurance will have to reimbursed you for all the extra toys you have on your car. By selling, removing all the extra gadgets on your car will greatly reduce your car insurance cost. If you want to take a step further you might consider selling the car and get a regular car.

Tip #9: Again, keep shopping for your car insurance online

Yes, shop around again. It is worth repeating. There is no easy answer to find the right policy and cheap car insurance for you and your family unless you went through all the tips and have several car insurance quotes from different insurance companies. Take your time to look for ways to save you money, every dollar count at the end of the day. Why spend more than everyone else it not that hard and doesn’t take long. It’s your money…