Tips For Saving Me Money On Car Insurance

Many people in these tough economic times are upset because of the amount of money they spend annually insuring their vehicles. Perhaps you are one of them. Don't be upset anymore because this article takes you through several tips you can follow to save some cash on car insurance.

1. Investigate the Market. You might find a very expensive quote from one company while you would have found it cheaper somewhere else. 

Although, the coverage might be the same, the insurance premiums greatly differ among companies. Shop around and acquaint yourself with premium rates offered by more then 1 company. This way you will be able to find the best company with a cheaper car insurance policy.

2. Consider using one insurance company for all of your insurance. Do business with one insurance company for all you coverage. When insuring your car, consider selecting the same company that has insured your home, business, life, and many more. Most of the insurance companies give a discount of up to 10% if you buy both auto and home insurance policies with them.

3. Increase your deductibles. Deductibles simply refer to the amount of money you have to pay in case you are involved in an accident. It is true that you can save up to 40 percent when it comes to comprehensive and collision coverage costs. 

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For example, if your claim is $3000 and your deductible is $500, you pay $500 and the insurance company pays $2500. Increasing the amount of deductible from $500 to $1000 can reduce what you pay by as much as 40% depending on the insurance company.

4. Put all your vehicles under one policy. If you own two or more cars insure them under one policy. This could greatly reduce the amount you would have paid if you had insured each car on its own policy by about 10%.

5. Drive less and safe. Among many insurance companies there are low mileage discounts offered for those people who drive below the stated mileage in the policy and also for those people who carpool. You should ask the company before doing business with them to see if they offer such discounts. Driving less means the likelihood of getting in an accident is minimal.

People who have clean driving records, devoid of accidents and driving violations, for many years are given safer driving discounts while those who have taken a defensive driving course are also advantaged of getting a discount.

6. Maintain A good Credit Report. While this is challenging when things don’t go the way you expect, try as much as you can to keep your credit report clean. This way the insurance company knows the level of your payment responsibility. A good credit report guarantees you a less costly auto insurance premium.

7. Know when to file a claim. If the insurance company notices you have been frequently asking for compensation in other things you have insured they might charge you more. Make your claim history appealing to the insurance company to get a low-priced policy.

The 7 tips listed above work, but they work differently for various auto insurance companies. Therefore, make sure you go with a company that provides the best coverage for a premium you can live with. This will save you money on car insurance.

Google By Brian Marquis

posted on Monday, March 24, 2014