Wednesday, May 23, 2012 9:57:09 AM
There are many ways to lower your auto insurance rates, you just have to take the initiative to do so. It doesn't take much time, and can save you thousands over the course of a year. Here is a list of ways that you can lower your auto insurance rates:
Buy a Different Vehicle. The newer, more expensive your vehicle, the higher your auto insurance rates. This is because it costs more to repair or replace a new car or truck. So, one of the best ways to get cheaper auto insurance quotes is to buy a smaller, older, or less expensive vehicle.
Request Discounts. There are many new discounts available to drivers. When you get auto insurance quotes, be sure to inquire about possible discounts such as Good Student Discount, Defensive Driving Discount, Multi-Car Discount and more. The discounts offered may vary from company to company.
Consolidate Coverage. If the insurance company offers health insurance, home insurance or life insurance, you should apply for these as well. Many companies will offer discounts if you have more than one policy with their company. That is, if you insure your home and car with the same company, they will give you a discount.
Reduce Coverage. Full coverage or comprehensive coverage is great for drivers with expensive or newer cars. However, if you have an older vehicle, consider reducing your policy to simple liability coverage. Liability coverage is required in nearly all state
in the US, and is the minimum coverage offered by most online car insurance companies.
Search for Online Car Insurance. Consumers can lower their auto insurance rates by up to 20% when they get online car insurance. The companies that offer online car insurance are reputable, established companies that offer quality coverage. The policies are no different from those of traditional auto insurance companies, except that they are much cheaper. So, search for auto insurance quotes online and reap the savings.
Increase Deductible. Most drivers have an auto insurance policy that has a $500 deductible. If you raise your deductible to $1000, you will experience lower auto insurance rates. However, you will have to pay more out of pocket if you are ever in an auto accident or make an insurance claim.
Credit History. A driver's credit history has an affect on their auto insurance rates. So, by improving your credit score and paying your bills on time, you will get cheaper auto insurance quotes.
These are just some of the ways to reduce your auto insurance rates. There are other factors that will reduce your auto insurance rates, but they may be beyond your control. For example, your age and gender. There are also other factors, like your geographic location and occupation, which you probably wouldn't want to change, just to get cheaper auto insurance quotes. The best advice is to search for auto insurance quotes online and see which discounts may apply to your situation.