Finding Cheap Car Insurance Without Sacrificing Your Deductible
One of the problems that many drivers face when looking for cheap car insurance is the inevitable link between low-priced policies and high deductibles. A high deductible is often problematic, as an accident can lead to heavy costs for a driver if his or her deductible is not kept in check. Nevertheless, many drivers risk a policy with a high deductible, as the alternative is a policy with high premiums. With the right approach, however, drivers can usually find affordable policies that still have low, affordable deductibles and reasonable coverage limits.
There are a few different tactics that drivers can take to lock in a cheap car insurance policy with decent coverage. Overall, the best way to get a cheap car insurance policy with a reasonable deductible is to choose coverage levels first, and then compare different insurance policies online with an insurance quote generator tool. Drivers who compare quotes can quickly cut 20 percent or more from their annual insurance costs, as different insurance companies often charge very different rates based on factors like a driver's age, accident history and vehicle choice. After comparing several insurance policies to find affordable premiums, drivers should call insurance providers to ask about discounts.
Discounts are a great way to save money on a policy without changing coverage or deductibles, as discounts are applied directly when a driver meets certain criteria. For instance, most insurance companies offer discounts for teenage drivers who keep good grades, for married drivers and for homeowners. Insurance companies rarely advertise these discounts, but by asking about them, a driver can usually see an immediate drop in policy premiums. However, it is important to note that some states have laws that restrict auto insurance company discounts.
Another way to keep deductibles low while getting a cheap insurance policy is to change other aspects of coverage. It is especially important to choose a policy with appropriate coverage limits. Some drivers buy too much coverage, especially when selecting comprehensive and collision coverage for older vehicles. If a vehicle is not very valuable, these protective coverages may not be necessary. Many insurance experts recommend dropping comprehensive and collision coverage if the annual cost of these coverages exceeds 20 percent of the value of a vehicle. Drivers who drop comprehensive and collision coverage entirely will have to pay for vehicle repairs and replacements entirely out-of-pocket, however, so it's important to realize the inherent risks of a limited car insurance policy.
Drivers should carefully evaluate their insurance needs and avoid policies that don't offer enough protection. By understanding how insurance companies set rates and by shopping around, drivers can usually find great policies with affordable premiums and relatively low deductibles.