July 1, 2010

Ways To Save on Auto Insurance for Two Vehicle Households

Everyone loves to save money, and it’s a do-or-die for some in the current global economy. Auto insurance is the bane of many when it comes to putting together a budget, but there are ways to get a low auto insurance quote for a two vehicle household.

Two vehicle households can do something to save money on auto insurance that single vehicle households cannot; they can put both vehicles on the same insurance plan. Doing so can reduce overall premiums from five to ten percent. Your premiums will fall if you further insure any boats, motorcycles, and even houses under the same company; you can save up to fifty percent by just insuring everything that needs insurance under the same insurance company!

A simple and obvious way to save money on auto insurance is to be a safe driver. Traffic tickets and accidents will indicate that you are an unsafe driver to any potential or current insurance company, and you see will premiums skyrocket; they may go as high as two-hundred percent higher!

Related to looking like a safe driver, buying a car that costs less to insure will obviously reduce your insurance premiums. The make, model, year, upkeep, and even color of your car can affect insurance premiums; those looking for cheap premiums should consider purchasing a safe, reliable car that does not scream “speed demon.”

Increasing your deductible — how much you are willing to pay in the event you get in an accident and need help from your auto insurance (e.g. you claim two-thousand dollars for a repair and your deductible is five-hundred dollars, you pay five-hundred dollars for the repair and your auto insurance covers the other fifteen-hundred) — can lower your premiums greatly. If you feel the likelihood of getting in an accident and/or needing auto insurance help is low, but you are still required to get it by law, raising your deductible very high will cause your premiums to drop very low.

Picking and choosing between types of coverage may be advantageous if you’re looking to save money. For example, if collision insurance is unneeded, dropping it may cut the cost of premiums in half.

Even with all the above money saving tips, the best way to get a low auto insurance quote is to shop the insurance market. While coverage may be standard for your area, the differences between premiums in competitive insurance markets may be vast. Be sure to get quotes from multiple insurance companies.

By following the above tips, it is easy to get a low auto insurance quote, even in a two vehicle household. The bane of the budget may now be a shining example of smart shopping.