Plenty of drivers are paying too much for auto insurance simply because they don't know how much of a difference a few simple steps can make on the final cost of insurance. Consider the following top 5 most important tips for lowering your auto insurance costs while still enjoying the coverage you need.
1. Compare Companies
The first rule of finding a good deal on items from dishwashers to shoes is to shop around. The same rule applies to auto insurance. Although it may be tedious and slightly time-consuming, shopping around at a variety of insurance companies ensures that you will get the coverage you prefer at the most affordable price available. This is especially important for drivers with imperfect driving records and high-risk vehicles, since these cases often require special attention.
2. Request a Higher Deductible
Requesting a higher deductible is another effective way to lower your auto insurance costs. Your deductible is the amount of money you have to pay before the insurance company can begin compensating for the damage. By increasing your deductible, you can dramatically reduce your coverage costs.
3. Purchase a Practical Vehicle
You can also lower your auto insurance costs by purchasing a safer, low-profile vehicle. Although flashy sports cars may be tempting, they aren't exactly preferred by insurance companies. Expensive cars are not only more costly to repair, but they are also more prone to theft. Choose an inexpensive and practical vehicle instead to keep your insurance costs down.
4. Pile on the Safety Features
Air bags, automatic seat belts, daytime running lights, and anti-lock brakes all increase your eligibility for insurance discounts that can ease your monthly payment woes. Installing car alarms and anti-theft devices are other great ways of getting helpful auto insurance discounts from your insurance company.
5. Combine Insurance Policies
If possible, combine all of your insurance policies with one carrier. In most cases, you insurance company will offer discounts if you also purchase home or life insurance through their company. This can not only help you reduce your auto insurance, but also ensures a good deal on alternative insurance plans as well.
Who is Covered by my Car Insurance if I am Not Driving?
If your friend borrows your car while hers is in the shop, or if your son lets a friend drive the family car, the coverage for the vehicle will be provided by your insurance, in most cases. While e...
Read More →
Finding out your Options when your Auto Insurance Denies your Claim
As if dealing with the hassle of an auto accident wasn’t enough, your insurance company has now denied your claim. Your car is wrecked, you’re out several hundred or more dollars, and y...
Read More →
Is it a Myth or Fact that Red Cars Cost More to Insure?
When you are considering the purchase of a new vehicle, you want to take time to consider the impact on your insurance policy. Among the myths that may worry you is the idea that red cars are more ...
Read More →