Do You Want Less Expensive Auto Insurance?
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by: laurawilder
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If you need to save money on your auto insurance, there are dozens of ways to do it. Some of them are out of your hands; for instance, if you live in an area that is considered less safe, your insurance premiums will be higher even if you are a safe driver. However, there are plenty of small ways that you can affect your insurance premiums. Here is a selection of the ways you can save money on your insurance.
First, comparison shop. You may find a broad variation in the quotes you get for the same level of auto insurance (one researcher found an $800 difference between quotes), or you may discover that your states standards are so firm that there is little difference between quotes. Get several quotes for your area. Also ask whether the insurance company offers multi car discounts or discounts for people who get both homeowners or rental insurance and auto insurance through them.
When you discuss your policy with the insurance agent, make sure you are getting all the discounts you are entitled to. Many agencies offer discounts for people who have been safe drivers for a certain number of years or who have held a drivers license for a certain length of time, and for cars that have features like anti lock brakes, automatic seatbelts, and anti theft devices. Belonging to the American Automotive Association (AAA) can also get you a small discount of about 3%. Driving very little can also lower your premiums: Some auto insurance companies offer lower rates to drivers who drive under a certain number of miles (say, 7,000) per year.
Rather than buying every option that sounds good, determine whether certain types of insurance coverage are necessary for your area. For example, if uninsured drivers are rare in your area, you may be able to dispense with uninsured driver coverage. Also consider whether you can afford to raise your deductible. Higher deductibles mean significantly lower premiums, but if you cant afford to pay a higher deductible if something happens, then raising your deductible is penny wise and pound foolish.
Rather than taking out three month or six month policies, take out a policy for an entire year. Insurance companies often charge less the longer the term of your policy is. Also compare the cost for different payment methods. Many agencies offer slightly reduced premiums for customers who pay the whole year up front or who arrange to pay through automatic deductions from their checking account.
And, of course, look at who and what you are insuring. Are you the only person on the policy, or are there other drivers? Drivers who have had recent accidents or who are under 25 cost more, so if you can remove them from your policy, you could see substantial savings. Also, are all the cars on your policy being driven? If a car on your auto insurance is not being driven, and your state does not require all registered cars to have insurance regardless of their operability, then strike your inoperative cars off your insurance.
There are plenty more ways to save money on your insurance that are not on this list. As you can see, there are multitudes of ways to save money on your auto insurance. When you adjust your coverage, consider not only which agency to choose and how good your driving record is, but the safety equipment installed in your car, your safe driving habits, and deductions you can get through belonging to the right clubs and taking safety classes. When you are done adding up all the available reductions to your premiums, you are likely to find that your auto insurance costs much less.
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