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Marvin Said:

Is Insurance Premium Financing a good investment?

We Answered:

It may be a good investment to protect yourself depending on how much you pay, but a very bad investment to build wealth.

Mark Said:

Can I switch Car Insurance 2 weeks later if I am financing a car?

We Answered:

You can switch at any time.

Sara Said:

why are these insurance premiums so high?

We Answered:

I was with Geico for a year or so, believing them the cheapest (nice ads!), but went to Progressive and have found them more than reasonable.

Premiums are based on lots of factors, but the highest-priced ones are your age, driving record, and where you live. If you're older, with a clean record, and live in a statistically "safe" area, your rates will be lower.

Andrew Said:

can u finance insurance premiums through loans?

We Answered:

In a few cases, life insurance premiums can be financed (usually people over 50 in good health applying for $2m of more of life insurance). Make sure you understand which elements are guaranteed and which are non-guaranteed. Some premium finance situations give too much future control to the life insurance company, in my opinion.

Financing your premiums should not be done without the help of independent advisers, like a fee-only financial planner and an accountant - someone who doesn't stand to get a large commission. They should be able to answer your question and should be able to suggest other ways to save on taxes, through your lifetime gift exclusion for instance. Good luck.

Home and auto folks should avoid answering this half of the question just like I avoid answering about their half. Expertise in one area is not the same as expertise in all areas.

Jimmy Said:

Where can I find an auto body shop in Los Angeles, CA which offers financing or pay in installments?

We Answered:

THERE ARE MANY PLACES LIKE THIS BUT THEY DO NOT HANDLE THIS THROUGH THEIR COMPANY BUT RATHER FARM IT OUT TO A THIRD PARTY AND THE INTEREST RATES ARE ABOUT 23.5 PERCENT.

YOU WOULD BETTER OFF TRYING TO GET A PERSONAL LOAN.