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According to Mark Nestman, Wealth Preservation & Tax Consultant and President of The Nestmann Group, there are 50,000 new lawsuits filed everyday in the US. The odds of every US resident being sued is 100% every 16.5 years!!! A study published in March, 2007, entitled “Jackpot Justice,” estimates that lawsuits cost the U.S. economy US$865 billion annually. This figure represents a yearly “lawsuit tax” of US$9,827 for a family of four. Pretty unbelievable!

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It always pays off to shop around for a car insurance policy. Insurance companies sell their policies through three different channels: their own insurance agents, independent agents and directly via the web or phone. Make sure you get quotes from each type of company.

Apart from the above there are several things you can do to keep your car insurance rates low:

  • Drive safely: if you haven’t had an accident or moving violation for a year or two or if you’re recently taken a defensive driving class, you should ask for a discount.

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