Getting Your Insurance Premium Under Control to Save Money
Get Your Car Insurance Premium Under Control in 10 Easy Steps Next to health insurance, car insurance is the largest insurance expense for most people, and rates seem to go nowhere but up.
However, your car insurance doesn't have to break the bank, here are 10 easy ways you can reduce your car insurance premium.
1.
Get Multiple Quotes.
Don't just go to one insurance company and trust that they are giving you the best deal.
States have recently made it easier for new companies to join the auto insurance game.
This means increased competition and reduced rates for you.
All insurance companies claim to have the best rates, make sure you find out for yourself.
2.
Increase Your Deductible.
A high deductible will drop your premium dramatically.
Deductibles as high as $500 or $1000 dollars are ok, so long as you have money available to pay for minor fender benders on your own.
3.
Eliminate Collision Coverage.
Collision coverage replaces your vehicle in the event it is totaled in a crash.
Is your car worth only two or three thousand dollars? Then Carrying collision may not be worth the premium.
You can put the savings toward a down payment on a new car, in the unfortunate event your car is totaled.
4.
You May Qualify for Discounts.
Your insurer might not ask about all the safety features on your vehicle that qualify you for discounts on your premium.
Tell your insurer about features, such as air bags, to make sure you are getting the lowest rate possible.
5.
Tax Deductions.
There may be tax deductions available if you drive your car for business.
However, your insurance rate could go up if your insurance provider is aware you use your vehicle for business more than pleasure.
6.
Combination Discounts.
Many insurers give discounts to customers who hold multiple policies with their company.
Ask your insurers about combining you homeowners, auto, and life insurance policies for a lower rate.
7.
Type of Vehicle.
You may dream of driving a sports car, but make sure you can afford the insurance.
Sportier and more expensive cars tend to hold higher insurance rates than their less sporty companions.
8.
Driver's Education.
Did you take driver's ed in while getting your license or anytime after? Make sure your insurer knows! Many insurers give discounts for educated drivers.
9.
Driving Record.
Points from moving violations are usually reported to your insurance company, and result in higher rates.
If it has been several years since your last moving violation contact your insurer to have your rate adjusted back down.
You don't have to pay for small mistakes forever.
10.
Look for Errors.
Errors on your policy can result in you paying a higher rate.
Check your policy for inaccuracies, such as wrong address, city or zip.
Reducing your insurance rate should be possible for everyone.
Carefully following this list should help you see lower rates in the future.
However, your car insurance doesn't have to break the bank, here are 10 easy ways you can reduce your car insurance premium.
1.
Get Multiple Quotes.
Don't just go to one insurance company and trust that they are giving you the best deal.
States have recently made it easier for new companies to join the auto insurance game.
This means increased competition and reduced rates for you.
All insurance companies claim to have the best rates, make sure you find out for yourself.
2.
Increase Your Deductible.
A high deductible will drop your premium dramatically.
Deductibles as high as $500 or $1000 dollars are ok, so long as you have money available to pay for minor fender benders on your own.
3.
Eliminate Collision Coverage.
Collision coverage replaces your vehicle in the event it is totaled in a crash.
Is your car worth only two or three thousand dollars? Then Carrying collision may not be worth the premium.
You can put the savings toward a down payment on a new car, in the unfortunate event your car is totaled.
4.
You May Qualify for Discounts.
Your insurer might not ask about all the safety features on your vehicle that qualify you for discounts on your premium.
Tell your insurer about features, such as air bags, to make sure you are getting the lowest rate possible.
5.
Tax Deductions.
There may be tax deductions available if you drive your car for business.
However, your insurance rate could go up if your insurance provider is aware you use your vehicle for business more than pleasure.
6.
Combination Discounts.
Many insurers give discounts to customers who hold multiple policies with their company.
Ask your insurers about combining you homeowners, auto, and life insurance policies for a lower rate.
7.
Type of Vehicle.
You may dream of driving a sports car, but make sure you can afford the insurance.
Sportier and more expensive cars tend to hold higher insurance rates than their less sporty companions.
8.
Driver's Education.
Did you take driver's ed in while getting your license or anytime after? Make sure your insurer knows! Many insurers give discounts for educated drivers.
9.
Driving Record.
Points from moving violations are usually reported to your insurance company, and result in higher rates.
If it has been several years since your last moving violation contact your insurer to have your rate adjusted back down.
You don't have to pay for small mistakes forever.
10.
Look for Errors.
Errors on your policy can result in you paying a higher rate.
Check your policy for inaccuracies, such as wrong address, city or zip.
Reducing your insurance rate should be possible for everyone.
Carefully following this list should help you see lower rates in the future.
