One of the best ways to keep your car insurance costs low is to have a good driving record.
Here are some other things you can do to lower your insurance costs.
1. Compare prices
Prices vary from company to company, so it is worth buying. Get at least three appointments. You can contact the companies directly or access information on the Internet. The state insurance division may also offer comparisons of rates charged by major insurers.
You buy insurance to protect you financially and to give you peace of mind. It is important to choose a financially stable company. Check insurers' financial health with rating companies like AM Best (www.ambest.com) and Standard & Poor's (www.standardandpoors.com/ratings) and consult consumer magazines.
Get quotes from different types of insurance companies. Some sell through their agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others don't use agents. They sell directly to consumers over the phone or online.
Don't just buy for price. We ask friends and family for recommendations. Contact your state insurance department to see if they provide information on consumer complaints by business. Choose an agent or company representative who will take the time to answer your questions. You can use the checklist at the end of this brochure to compare quotes from insurance companies.
2. Before Buying a Car, Compare Insurance Costs
Before buying a new or used car, check the insurance costs. Auto insurance premiums are based in part on the price of the car, the cost to repair, the overall safety history, and the likelihood of theft. Many insurance companies offer feature discounts that reduce the risk of injury or theft. To help you decide which vehicle to buy, you can get information from the Insurance Institute for Highway Safety (www.iihs.org).
3. Request greater discounts
Discounts are what you pay before your insurance policy begins. By applying for higher discounts, you can significantly lower your costs. For example, increasing the amount of withholding from $ 200 to $ 500 could reduce the cost of collision and general coverage by 15 to 30 percent. Going for a $ 1,000 deductible can save you 40 percent or more. Before choosing a higher discount, make sure you have enough money set aside to pay it if you have a claim.
4. Reduction of old car coverage
Consider a collision fall and / or full coverage for older vehicles. If your car is valued at less than 10 times the premium, buying coverage may not be profitable. Car dealers and banks can tell you the value of cars. Or you can find it online at Kelley's Blue Book (www.kbb.com). Check your coverage at the time of renewal to make sure your insurance needs haven't changed.
5. Buy your auto and homeowners coverages from the same insurance company
Many insurance companies will give you a break if you buy two or more types of insurance. You can also get a discount if you have more than one vehicle insured with the same company. Some insurance companies lower the rates for old customers. But it still makes sense to buy! You can save money by shopping at different insurance companies, rather than a multi-policy discount.
6. Maintain a good credit history
Establishing a strong credit history can lower insurance costs. Most insurance companies use credit information to price auto insurance policies. Research shows that people who manage their credit more effectively have fewer claims. To protect your credit situation, pay your bills on time, never get more credit than you need, and keep your credit balances as low as possible. Check your credit history regularly and correct any mistakes immediately so your record remains accurate.
7. Take advantage of low mileage discounts
Some companies offer discounts for drivers who drive less than one average mileage per year. Lower mileage discounts may also be applied to drivers who congregate at work.
8. Ask about group insurance
Some companies offer discounts for drivers who obtain insurance through a group plan from their employers, through professional, business and alumni groups, or through other associations. Ask your employer and ask the groups or clubs you are a member of to see if this is possible.
9. Look for other discounts
Companies offer discounts for policyholders who have not been exposed to moving accidents or violations for several years. You can also get a discount if you take the defensive driving course. If a young driver in politics is a good student, took a driver's education course, or left college without a car, he may also qualify for a lower GPA.
When comparing the store, ask about discounts for the following:
- Anti-theft devices
- Cover cars and homeowners with the same company
- College students away from home
- Defensive driving courses
- For driver education courses
- Good credit history
- Bigger discounts
- Reduced annual mileage
- Long time customer
- More than one car
- No accidents in 3 years
- No moving violations in 3 years
- Student drivers with good grades
The discounts listed may not be available in all states or at all insurance companies.
The key to savings is not the discounts, but the final price. A company that offers some discounts may still have a lower total price.
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