August 21, 2009

How Switching Auto Insurance Providers Can Save You Money

Are you getting the best possible rate from your auto insurance provider, or are you paying too much? These days, all it takes to find out whether or not you can save money on auto insurance rates by switching auto insurance providers is a few minutes of your time. By comparing auto insurance quotes, you can find out whether your policy is worth holding onto, or whether your auto insurance rate is on the higher end of the spectrum. The bottom line is, by switching auto insurance providers, you can in fact save money.

Switching auto insurance providers can save you money in a number of ways. These range from lowering the total annual premium, to potentially adding additional coverage for the same amount you’re paying now or less, and by potentially adding flexibility in payment options and incentives to lower your payments.

The only way to truly measure auto insurance rates is by doing an apples to apples comparison. Not all auto insurance quotes provide the same coverage, and payment options and schedules vary from insurance company to insurance company. By searching the Internet for sites that compare an auto insurance quote, you can find out exactly how much you’d save. But the savings don’t just end by comparing premiums.

You can also save money by finding out what incentives an auto insurance provider can offer by being a good driver, being accident free in a required number of years. Your insurance quote can also be lowered by being part of an affiliation or group that has a special discount rate for its members, examples being AAA or an alumni association. Over time, these incentives can add up to potentially larger savings if you stay with the new auto insurance provider.

Saving money with auto insurance can also come in the form of payment flexibility. An auto insurance provider that allows you to pay the premium through a variety of means, including credit card offers, can be a convenient and an appealing money saving incentive. By paying your premium with a credit card that offers cash back, you can make money every time you pay your auto insurance. In addition, you’re not spending money on stamps, and you never have to worry again about forgetting to mail in your payment or it getting lost in the mail.

If you haven’t compared your policy to what other auto insurance providers are offering in the past six months, it may be time to do a quick search. Auto insurance providers may be offering new incentives or may have lowered their rates to be more competitive.