’)When was the last time you sat down and reviewed your auto insurance coverage and rates to make sure you were getting the very best coverage for the best price? In these tough economic times, each one of us is looking to save money by any means that we can. Reviewing your auto insurance is a great way to both make sure you have the correct automobile insurance coverage for your needs, and also to make sure you aren’t paying more than you should be.
One of the best ways to save money on your automobile insurance coverage is to raise your deductibles. Simply raising your collision deductible from $500 to $1000 can save you quite a bit of money per month. Keep in mind though, that if you are involved in an accident which is either your fault, or caused by an uninsured motorist, and need to repair your own vehicle, that you will be responsible for the first $1000.00 worth of damage. Keeping enough money to pay your auto insurance deductible in your savings account is key.
If you’re in the market to purchase a new car, call your insurance agent before purchasing, and compare insurance rates for various makes and models that you are interested in, before making a decision. The difference in monthly rates between a sports car, and a four-door family sedan could be hundreds of dollars a year.
Combining all of your insurance needs with one company will save you quite a bit of money when it comes to your insurance. Most insurance companies offer sizable discounts for insuring multiple vehicles as well as your home or renters insurance.
Review all discounts you may be eligible for with your insurance agent. Auto insurance companies offer a variety of discounts to their customers, such as: Good driver discounts for drivers who haven’t gotten a ticket or been in an accident in the last 3 to 5 years. Vehicle safety feature discounts for having car alarms, air bags, seat belts, and anti-lock brakes. Low mileage discounts are also available for drivers who drive less than the national average, or use their vehicles as pleasure vehicles rather than using their vehicles to commute to and from work or school.
And finally, the best way to save money on automobile insurance coverage, is to compare rates from different companies. The difference in rates from one company to another could be hundreds of dollars per year, for the exact same coverage.
The best way to compare rates from different companies is to shop online, and the easiest way to do that, is to visit an insurance comparison website. All you’ll need to do is spend a few minutes filling out a simple online form, with your auto, driving, and coverage information, then wait for your quotes. By using a comparison website, you ensure that all of the quotes you are receiving are “apples to apples” comparisons, which is very important when shopping for auto insurance.
