Are you paying too much for your car insurance? If you think you pay too much for your current vehicle insurance, the following suggestions can help you save money
Sure, youve read this tip everywhere but thats true. Just by car insurance and getting quotes from premiums from several insurance companies, you can safely know that you get your car insurance at the best possible price.
When shopping for your car insurance, remember to compare more than insurance rates. Ask about how insurance claims are approved and processed, and how quickly they are paid. Look at each insurers financial stability there are independent grading services that can help you with this. Remember that during stress periods like after an accident you will manage the insurance company and you want to make sure that you will be helped when you need it most.
When you submit a claim, a deductible is the amount you pay first before the insurer pays the remaining amount. Often people choose less deductible, so when they have to file a claim, their ouopocket expenses are minimal. But the truth is, the higher your collision and the excess deductible, the lower your car insurance premium. The savings by increasing your deductible to say 1000 from 250 are significant you can save hundreds of dollars from your insurance premium.
Of course, the flipside is that if you should submit an insurance claim, you are responsible for paying the deductible. So choose the maximum deductible you can afford to pay the higher the better because the difference in your car insurance premiums means more money in your pocket.
If your car is up in the ages, you might want to consider losing the collision or comprehensive coverage or both of your policy. You have to think about this, but its not always a clear decision. You must weigh the cost of the two covers with the value of your car and your own deductible. For example, if you had a 1year car worth about 1000, and your deductible was 1000, coverage will not help you.
Most insurance companies offer discounts. While the availability of discounts varies depending on your insurer, where you live and if you meet the eligibility, be sure to ask if there are any discounts you can benefit from. Below is a list of some of the most common discounts if available in your country, each insurer will have different eligibility requirements
Multpurpose discount available if you insure multiple vehicles with the same insurer
Multline discount available if you insure your home and car with the same insurer
Good driver discount if you have not had an accident or a ticket for a long time
Good student discount if you are a student with good grades, usually about a B average
Secure driver discount if you have passed and passed an accredited drivers security course
Anttheft protection If your vehicle has some anttheft systems installed
Safe Vehicle Discount If your vehicle has some additional safety features
Retirement discount if you have reached a certain age, usually 50 or 55 years
Low mileage discount if your vehicle is not operated frequently
Work discount if you work in a particular field or hold a certain degree
Car Club Discount If you are a member of a car club, such as AAA
Association discount if you belong to certain associations as your alma mater
Discount Cards If your child goes to school outside the city
If you buy a new car and have reduced it to two or three options, compare car insurance rates for each one to see if there is a remarkable difference in the cost of insuring. Keep in mind that insurance rates are more for vehicles with high theft and repair costs. If there is a significant difference in cost to insure your first hand car, you may need to rethink.
OK, this is obvious but true. Drivers without accidents, tickets or insurance claims almost always pay less for their car insurance. Your driving post is an influential factor in determining your insurance rate. Tickets and incidents in case of accidents affect your insurance rates for years. With a less than perfect driving post, you can pay a lot of extra insurance premiums over the years.