Auto Insurance: 8 Ways To Lower Your Auto Insurance Costs
1. Shop Around
Don't settle for the price that your insurance company wants to charge you. Auto insurance prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information or if you don't want to deal with insurance agents, use the Internet to get multiple quotes.
Don't shop price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company.
2. Compare Insurance Costs When Buying A Car
Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the car's sticker price, the cost to repair it, its overall safety record, and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. Look for cars that have safety features like daytime running lights and anti-theft devices.
3. Get A Higher Deductible
Deductibles are what you pay out of pocket before your insurance policy kicks in. By getting a higher deductible on your car insurance policy you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15% to 30%. Going to a $1,000 deductible can save you 40% or more.
4. Reduce Coverage on Older Cars
This is one of the most overlooked tactics to lowering your insurance. As your car ages it becomes less costly to replace, so why pay a premium for a replacement value that is more than your car is worth? A role of thumb is that is that your car should be worth more than 10 times the premium you are paying.
5. Buy your Homeowners and Auto Coverage from the Same Insurer
Many insurance companies will give you a break if you buy two or more types of insurance from them or if you insure more than one vehicle with them. Ask for your insurance representative what multi-car discounts that they offer.
6. Maintain a Good Credit Record
More and more insurance companies are not using credit information to help price auto insurance policies. So paying your bills on time, bit obtaining more credit than you need and keeping your credit balances as low as possible are all tactics that can help you get a lower auto insurance quote.
7. Ask about Group Insurance
Some insurance companies offer reductions to drivers who get insurance through a group plan from their employers, professional and business groups, or other associations (like AAA). Look at the clubs and associations that you belong too and see if any of them offer discounted auto insurance.
8. Seek Out Other Discounts
Ask your insurance company for a list of all the different types of discounts that they offer. You would be amazed at the discounts that are available on auto insurance today. They range from discounts to being in the military, to students and people who have had no accidents or tickets in a number of years.
Related Tags: auto insurance, car insurance, cheap car insurance, cheap auto insurance
David Wilson covers how to save money on your insurance needs at Cheap Insurance Network. His latest article on Cheap Life Insurance provides tips on how to save money when buying life insurance.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- The Benefits Of Comprehensive Car insurance
In the United States, every car that is driven on public roads, highways or freeways need to have ca - The different parts to an Car Insurance Policy
Car insurance is the most bought type of insurance in the United States of America. The country has - Automobile Insurance Quotes - Your Ticket To Massive Savings
If you want to make the most remarkable savings in your automobile insurance, you'll have to underst - Questions To Ask About Your Car Insurance Quote
The first thing you need to know about your car insurance quote is how they figure your credit ratin - Auto Insurance - The Consumer's Guide
1. Obtain your agent or brokers licensing information to make sure that you are buying auto insuranc - Your Credit Affects Your Auto Insurance Quotes
Your credit information plays are a part in your auto insurance quotes. If you have bad credit, the - Defensive Driving - Can be Done from Home!
Defensive driving course is designed to teach drivers the laws, rules and safety of driving an autom - Pssst - Want To Know A Secret That Banks & Car Insurance Companies Don't Share With You?
Every single driver in the U.S. is required to have Car Insurance. And most of us drive around conf - Cheap Car Insurance If You're A Teenage Driver
Getting cheap car insurance if you are a teenager or young driver can seem impossible. Unfortunately - How to Compare Low Cost Automobile Insurance in Arizona
The internet is an automobile insurance shoppers friend. When you are comparing insurance rates for
Most viewed articles in this category:
- What is 'GAP' Insurance
GAP INSURANCE Suppose you just got into an accident and wrecked your two-year old car. Are you as - Cheap Car Insurance Quote: Get One Now For Free!
Finding a cheap car insurance quote requires lot of research and investigation. No doubt many compa - Student Car Insurance: Drive with Minimum Risks
Lots and lots of students are going to the university in their own cars. Life of a student is an age - Online Auto Financing Saves Time and Money
Getting online auto financing has become very popular in the past few years. According to a recent s - Arizona Car Insurance: The Minimum You Should Know When Getting Quotes
When shopping for an Arizona car insurance quote online, keep in mind the state requirements for aut - No Fault Auto Insurance
No fault insurance applies to state in which an insurance company will pay for minor injuries result - What To Look For In An Auto Insurance Company
Since almost all the states require that you have auto insurance, the question should not be whether - Beware 9 Lies Auto Insurance Adjusters Might Tell You
How can you tell if an insurance adjuster is lying? Answer: Look and see if his/her lips are moving! - California Car Insurance: The Minimum You Should Know When Getting Quotes
When shopping for a California car insurance quote online, keep in mind the state requirements for a - The Truth About Mexican Auto Insurance
The fact of the matter is that if you get into an accident, there is a VERY high likelihood that you