How To Get Better Car Insurance Quotations

For all car drivers, and that includes the vast majority of people in the Western world, renewing our car insurance is a standard annual procedure. With increased competition from many insurance companies trying desperately hard to get our business, most people are now trying to find the lowest quotation they can before renewing their policy. In order to get the best quotation for a car insurance policy that meets your particular needs, it is important to consider some simple, but essential factors and we will look at those now in more detail.

In addition to the information found below, there is also a wealth of information online which offers further guidance and consideration of factors to be considered when obtaining your new car insurance quotation. Here are a couple of publications that you may consider to be very useful;

Cheap Car Insurance: How to Slash Your Auto Insurance Costs and Get Cheap Quotes
by Meir Liraz

Cheap Auto Insurance: How To Get The Best Car Insurance Quotes
by James Stuart

Below are Additional points that need to be considered when searching for car insurance quotations;

1. Make sure that you get a good range of quotations from a number of different companies so that you can make a true comparison between the different policies you are being offered. It is sometimes very tempting to accept the first offer you are given if it appears to be a good deal and to remove the need for further searching online. However, this is not necessarily the best way to do things because as soon as you have one quotation you are then in a stronger bargaining position to obtain an even better deal from another company.

2. Hopefully this goes without saying but it is essential that you are 100% honest with the information you provide to the insurance companies. In the event of a claim on your policy, either by yourself or by a third party, any discrepancy in the information you are given and the facts taken at the time of the incident will mean that your policy becomes void if you have not provided accurate and honest information when the policy was taken out. Remember, you are entering into a legal contract with the insurance company and you need to be honest on all accounts.

3. Before you make your final decision about which company to go with, it is important to conduct some research about the company you are considering. With so much business being performed online, anyone can set themselves up in business and it is vital that you know that you are dealing with an established and reputable company. Fortunately, this is very easy to do as the Internet provides a wealth of information from satisfied and dissatisfied customers alike and you will soon get a clear idea about the nature of the company you are considering doing business with.

headlamp-2940_6404. Another important feature that people often fall down upon is understanding exactly what you are being offered in terms of the level of cover for the insurance policy. Sometimes, companies will throw in hidden extras that you may not require for your individual needs. Such things as; breakdown cover, legal expenses, replacement car, etc. to name but a few. In many instances, these are valuable extras but it is up to you to decide if these are extras that you actually want to pay for at this stage. Another common issue of confusion is the level of excess on the policy, i.e. the amount of money that you have to spend from your own pocket before any money can be claimed from your policy. Excess covers do vary considerably and so it is important to ensure that you are getting quotations on a like-for-like basis.

5. Never be harassed into completing your policy signup until you are 100% happy with what you are being offered and that all your questions have been answered. Some companies offer incentives for you to sign up quickly so as to receive extra discounts on the premium. This can be a false economy if you have not thoroughly and adequately checked out the policy details.

6. If during the process of obtaining quotations you discover that they are all much higher than you anticipated, you may be faced with a situation of considering changing your car completely! You may discover that your particular model is considered to be a high risk vehicle or the engine capacity means that you are being penalised for driving a vehicle that is deemed to be a higher risk in the eyes of the insurance company. If you don’t need a car which is so big and powerful it may well be in your interest to consider changing your model so that you can make significant savings both on your insurance policy and in your ongoing driving costs.

7. Although the vast majority of quotations can be obtained online, sometimes it is very important that you feel that you can speak to an actual person. Fortunately, most of the larger companies who perform most of their business online will still offer a telephone number for you to contact them directly. This is very important as you need to know that you are able to get in touch with a human being in the event of help being required as and when you need it. Many of the companies offering much lower quotes often do not offer this service and it is something that needs to be considered in the event of a crisis.

8. Where possible, pay your insurance premium in one lump sum rather than paying on a monthly basis. By doing this, you can make significant savings on the annual premium price. Of course, this is not always possible for everyone but if it is it is a prudent measure that will save you money.

Below is a useful video containing additional point to consider;

These are just some of the ways that we can all save money by obtaining cheaper quotations for our car insurance. By just considering some of the above points, we can all make some significant savings to our annual motoring costs and that’s got to be a good thing!


Dealing with Your Taxes Efficiently

One of the most tedious exercises that most people have to do in their lives is to complete and return tax forms for the government. Unfortunately, we have no choice! Some people will use the services of an accountant to do this for them, but the vast majority of people will be faced with the task of doing it themselves. On the positive side, this annual procedure empowers us with a clearer understanding about our personal financial situation and as a result of that, we take back more control of our lives through our finances.

For most people, the payment of tax is their largest expenditure in the year. As a consequence of this, the wealthier people in society invest a lot of time and energy (and money!) on reducing their tax commitment wherever possible. For the vast majority of people the amount that we have to pay in tax will fall anywhere between 15% and 55% of the money that we have earned over the year. This is a huge proportion of our income and has a significant impact on the amount of usable money we have for other aspects of life.

For anyone who receives a paycheque, it is not uncommon for them to be totally unaware of the amount of money they are spending in tax each and every month. Few people pay much attention to their payslip and are only concerned with the bottom line, i.e. how much disposable income they have. Because of this, it is vital that people become more aware of how much tax they are spending and to see if they can reduce their tax commitment legally in ways and means that they may not even have considered were possible.

There are three tax calculators online which can help to give you a rough idea of your tax commitments – for example – Free Income Tax Calculators, W-4 Calculators & Health Care …
“Free tax calculators and tax estimators by H&R Block including a W-4 calculator and health care calculator. Estimate your taxes with one of our tax calculators.”

But this is obviously only an estimate and more detailed analysis needs to be form.

When looking at an financial situation in detail and through observing some simple considerations and strategies, it soon becomes evident of how much each one others can save in tax with very little effort.

Here are some other things to consider to help reduce your tax bill;

calculator-385506_640The very first thing to do is to educate yourself a little bit more about your tax situation and your obligations and the types of rebates and exemptions that are available for someone in your situation. You can easily find this information online or from the local tax office or even your local library . By obtaining this information you are in a much more informed and strong position to then go and consult a tax adviser. By being more informed you would have to spend less time with a person and as a consequence of this, save yourself some of the fees that would be levied for their services.

Here are a couple of examples of sources information online to help with education about taxes;

U. S. Master Tax Guide (2014)
CCH, CCH Incorporated, published 2013, 1008 pages

Your Federal Income Tax For Individuals – TAX GUIDE 2014
from ManenKothari.

You would then need to go and consult a Certified Financial Planner to find out exactly what your situation is. Many people are put off from doing this thinking that it is very expensive. However, this is a false economy as the fees that you will pay to such a professional will soon be outweighed by the amount of savings that you can make by implementing their advice. The vast majority of people are totally unaware of the range of expenses that they incur week-in week-out that can be offset against their tax bill. Your financial adviser will be fully aware and up-to-date in these matters and will be able to advise you accordingly.

One thing that many people fall down on is the discipline of maintaining adequate financial records. Many people think that this is just for businesses but that simply isn’t true. Anyone who is having to fill in a tax return form will also have to to declare their payments and receipts. Only through the maintenance of detailed financial records can you begin to have a full understanding of what you’re financial situation really is. Fortunately, this whole process can be made very easy through the use of a simple accounting software package, many of which are totally free. This way you have an immediate picture of both your expenses and your income.

Here is an interesting article about saving tax;

Three Last-Minute Tips To Save Time And Money This Tax Season
MarketWatch, on Tue, 14 Apr 2015 -One in five households waits until the April 15 deadline to file federal and state taxes, according to the IRS. Research shows that last-minute filers often fall victim to common tax errors likeĀ …

As more and more people are working from home and are self-employed, it is vital that they become fully aware of all of the monthly household expenses that can be used in consideration of their final tax bill. For anyone using a room as an office in their home, a proportion of most of the household bills can be used against income. Understandably, this can have a huge impact on the amount of tax that has to be paid at the end of the year.

Another important consideration is the Medical Flex Plan and the 401k. If any money is being put to one side for the 401k this too can be offset against income. In addition to this, The Medical Flex Plan enables all medical costs to be paid without tax.

These are just some of these simple considerations that we need to take into account when assessing our tax liabilities. There are many more ways of reducing tax, and your tax adviser is worth his or her weight in gold when it comes to accessing this information.

You will be very pleasantly surprised exactly how much money you can save when exercising some of these very simple strategies and soon discover that your tax liabilities can be significantly reduced with very little effort.

Below is a useful video explaining how to fill in your income tax return form (US);