There are tons of ways to make money these days, but a lot of people should spend more time focusing on saving money. One thing that people waste a ton of money on is “long subscriptions”. What I mean by that is paying for something for say a month or a year when you don’t need it for that long. Things like the internet or cable where you only use them for a small fraction of the time where you have access to them. Think if you could only pay for the time you use these services. You would save a ton. That’s why when we pay for things in small chunks we end up paying a premium.
Here is where you need to be smart because we have a value proposition. Basically we ask does a smaller amount of time you’re paying for at a higher cost make for a better deal then paying for full time access at a lower unit rate. A very practical real word example (and the whole reason I wrote this article ha ha) is with auto insurance. A lot of people have second vehicles that they use with great infrequency. Maybe it’s that classic car you have, or the SUV you really only use when you go camping, but they are sitting there in your driveway eating up insurance dollars.
What’s the solution? Well the solution I suggest to people is something called short term auto insurance. Most insurance brokers do offer it, they just don’t talk about it because if it saves you money it costs them money. It’s just one money saving tip that people can take advantage of if they put a little thought into it, and like I say it carries over to other areas of life.
By: Justin DeMerchant
Posts Tagged ‘People’
Saving Money With Short Term Auto Insurance
December 27th, 2009What is Short Term Car Insurance?
December 23rd, 2009
There are times when you simply don’t need a six month insurance policy, but you need some sort of short term car insurance. Luckily, there are companies out there that do provide such a service. This is great for people who only use cars every once in a while. Not only will it cover the cost of the repair of the car if something were to happen, but it also prevents the driver from receiving a heavy fine for driving uninsured. It is, after all, illegal to drive without car insurance, and for good reason. Things happen, people want their cars fixed, and the last thing you want is to go to court because of a simple mistake.
Short term car insurance can last anywhere from a day to six months, depending on how long you’re going to require it. This is much more economical than paying for a full six months of insurance on a car that you’re only going to use for a week. Depending on the company providing the service and the policy they issue, the premium may be collected monthly or in advance. Coverage can begin immediately upon receiving the policy, or on an established, agreed upon date, depending on exactly what the needs of the driver are. Just like a normal, long term, full coverage auto insurance policy, short term car insurance includes uninsured and under-insured motorist protection, physical damage, and of course the obligatory liability insurance that is required by law. Some policies even cover medical payments for passengers. Auto insurance companies generally charge a flat rate for short term car insurance, and this rate is often less expensive than normal car insurance. Extras such as roadside assistance may also be available, depending on the company and policy. There are no contracts, and the only thing needed to cancel the policy is generally a written request.
By: Luke Duncan
The Benefits of Short Term Car Insurance
November 25th, 2009
With the drastic rise in insurance premiums and most families struggling to make ends meet, there has been an increased interest in short term car insurance. Temporary cover is now more readily available from most insurance companies and can be very beneficial for some car owners.
What is Short Term Car Insurance?
Temporary cover is still a relatively new way to insure your car. In the not too distant past, short-term cover was only used by those borrowing a friend’s or relative’s car for a brief period. Now, however, short term insurance is being used for much broader reasons.
Typically, temporary, or short term, car insurance allows a policy holder to insure his, or her, car for as little as one day and often up to twenty-eight days.
Of course, the cost of short term policy is much more expensive than an annual policy when calculating price per day. However, if you only need to insure a vehicle for a few days, a week or a month, short term cover is by far the cheapest way to purchase insurance.
Benefits of Temporary Cover
You may be wondering what benefits short-term car insurance has for you. Well, whether or not temporary cover is a wise move financially will very much depend on your circumstances.
For example, if you are one of the numerous people that predominantly work away from home, you may find that you very rarely use your own vehicle. In this instance, short term car insurance ensures that you only pay for the periods that your car is in use.
Another great advantage for temporary customers is that the policy can be renewed at any point, making life much simpler for those who choose to insure their car with this method.
In addition, many companies provide customers with the opportunity to purchase short-term car insurance over the phone or via the internet. This means that cover can be provided in a few minutes and you are insured to drive your car the very same day.
Things to Consider
When buying any insurance policy there are certain factor that will affect the cost of your premium and short term cover is no exception to the rule. You will find that young drivers may experience difficulty gaining temporary insurance, alternatively the policy is likely to be more expensive. Additionally, any driving convictions or previous insurance claims may affect your eligibility for short-term insurance.
Therefore, to ensure that you are getting the best possible price, it is advisable to shop around. Remember, as temporary insurance is becoming mainstream, more and more companies are providing the service, so a great deal can be found out there.
By: Robert Linley