Car Insurance And A Bad Driving Record: Can You Still Save Money?

If you're worried about car insurance because of a bad driving record, there may be some things you can do to save money. Here are some tips.

Consider raising your deductibles. While you work to improve your driving record, which takes time, you can ask for a higher deductible on your comprehensive and collision coverage to get a lower premium.

Do you really need all of those features? The more features your policy has the more it will probably cost. Right now's a good time to consider getting rid of rental car reimbursement and towing coverage.

Consider a less expensive car. If you drive a less expensive car, you may want to carry only collision coverage and not comprehensive coverage to lower your insurance costs.

Improve your credit score. Believe it or not, insurance companies often use credit scores to help determine risk. The higher the risk you are to them, the more they will charge. One way to help lower your risk is to improve your credit score.

Comparison shop. You'd be surprised at how car insurance costs can vary between companies. Do some comparison shopping by getting at least three different quotes. Make sure you are comparing the same coverages and features between quotes or your comparison won't be accurate. Be truthful about your driving record. Car insurance companies spend a lot of effort to combat insurance fraud and can find out if you've lied. This will only make things harder for you because they will probably cancel your policy. What's more, this may make it harder for you to get insurance from another company.

Scott Lunt is a freelance writer with over 15 years experience writing insurance-related articles. You can compare car insurance quotes and find more tips on saving on car, home, life, health and long-term care insurance at LowerYourInsurance.com. The site also includes a handy worksheet to help you when shopping for car insurance.

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Qualify For An FHA Loan - FICO Score Not A Big Deal

One of the most attractive features of an FHA loan is that you need no specific FICO score to qualify for the program.

This is great news for you if you are looking to buy a new home or are wanting to refinance your current loan.

FHA lenders are very flexible regarding credit and look mainly at your overall credit worthiness. They will not evaluate each specific negative credit item that appears on your credit report but rather look at you repayment trend over time.

FHA guidelines allow 2 missed payments (auto, credit card, mortgage etc...) over the last 2 years as a requirement to qualify for a loan.

This advantage really can help you get the home of your dreams if your past credit history has been less than spectacular but are now however more financially stable. Remember, negative credit usually effects your credit score for about 7 years. Families that are "doing well" TODAY financially are not penalized for negative credit in their past - FHA is a forward thinking program.

When you compare a FHA to a conventional loan this flexibility is amazing considering Low FICO scores virtually eliminate you from dealing with conventional banks.

But does this even matter?

Probably not, because there is no advantage many times; Lately FHA loans are advertising very attractive interest rates which are as low or even lower than conventional 30 year fixed rates from the major banks.

So as long as you have a valid social security number, are able to prove income (w2, 1099, tax return, pay stubs etc...), can establish yourself as credit worthy an FHA loan and have a minimum of 3% down-payment an FHA loan is probably well within your reach.

Hard working families that may have damaged credit and very little down payment can still experience the joy of home ownership with an FHA loan. Qualifying is much easier than you may think - visit: FHA loan credit requirements

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