May 15, 2010

4 Ways That Experienced Drivers Can Lower Their Car Insurance Quotes

Auto insurance premiums can be costly, so you should try to save money in any way you can. When you obtain auto insurance quotes, make sure that you inquire about what auto insurance discounts are available for you.

Even if you have had an insurance policy at the same place for several years, it may benefit you to shop around and compare auto insurance quotes from other companies. To do this, you should have a copy of your current auto insurance policy available so that you can compare the exact same coverage. You should obtain at least 3 to 5 separate quotes so that you can have a variety of options to choose from. You want to ensure that you choose a reputable company as well as one that offers a good price.

Review your current policy to see if you can remove any unnecessary coverage. If you drive an older vehicle, you may want to drop comprehensive and collision from your policy. If you are in an accident, the chances are likely that the insurance company will deem your vehicle a total loss as it will cost more to repair it than it is worth. As well, when you are reviewing your coverage, you may want to raise your deductible. This is the amount that you are responsible for paying before the insurance company will pay. The higher your deductible is, the lower your premiums will be. Just make sure that you can afford to pay the deductible should you need to file a claim.

Inquire with your insurance company as to what kinds of auto insurance discounts they can offer you. If you have more than one vehicle, you will qualify for a multi-vehicle discount. As well, if you place all of your insurance products, such as home, auto, and life, you will qualify for a multi-product discount. This gives you a lower premium on all lines of insurance. If your vehicle has certain safety features and anti-theft devices, you can get discounts. Other discounts that may be available include good driver, good student, renewal, or low mileage discounts.

You should consider paying off your entire yearly premiums rather than having it debited from your bank account annually. Many insurance companies charge a service fee of approximately 3% for the privilege of using this service. So, if you can afford to pay the whole year up front, this is a good way to save some money.

Auto insurance doesn’t have to cost you extreme amounts of money. There are many ways you can save on your yearly premiums. Always review your coverage with your agent and shop around to make sure you are getting the best rate.