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Simple Ways To Lower Your Auto Insurance Costs As A Family

Sunday, July 3rd, 2011

Auto insurance rates can seem expensive to many drivers, especially if there is more than one driver living in the same household. However, this can actually work to your advantage. There are many ways to lower your family insurance costs without sacrificing coverage. Following are a few tips that you can follow that should help you save money on your auto insurance rates.

Many families own more than one vehicle and if you insure all of your vehicles on the same car insurance policy, you will lower your premiums. Most insurance companies offer a multi-vehicle discount if a policy has more than one vehicle on it. They also offer a multi-product discount. This means that if you insure other lines of insurance with the same insurance company, such as home, auto, and life insurance, you will save money on all of your policies.

Other discounts are available to families depending on the type of vehicles they own. If your vehicle has certain safety features, you may qualify for these discounts. For example, anti-lock brakes and an anti-theft system will both net you lower premiums. These safety features will help reduce accidents and thefts. The type of vehicle itself can directly affect your insurance rates, so if you are concerned about lowering your premiums, you may want to shop for certain vehicles. Some makes and models are more prone to thefts or vandalism and some cost more to repair. Because of these factors, insurance premiums are higher for these vehicles.

Certain insurance coverages such as collision and comprehensive require the policy owner to pay a set deductible if they file a claim. After this deductible is paid, the insurance company will then pay their portion of repairs.

If you increase the amount of your deductible, your collision and comprehensive premiums will drop. However, you must ensure that you are able to afford the higher deductible amount should you be required to file a claim.??If you have teenagers or new drivers in the household, then you will find that your insurance rates will increase because of their lack of driving experience. If these new drivers enroll in a driving course, then they will receive a discount on their insurance premiums. In effect, they are rated as a driver with three years of driving experience rather than zero.

When you compare auto insurance rates, always remember to ask your insurance agent about the different ways that you can lower your family insurance costs. Just because you have several drivers living in the same home doesn’t mean that you have to pay outrageous premiums every month. In fact, it can be beneficial to you instead.

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