Written by Penny Gusner on October 15, 2014 & Posted in Auto Insurance
f you can put in a little time to review your car insurance policy, it's possible to save hundreds, or more, on your annual auto insurance premium.
Comparison shop. The No. 1 way to obtain cheap car insurance rates is to compare car insurance quotes with a variety of auto insurers. In as little as a half-hour you can have a handful of auto insurance rate quotes.
Compare like coverages, limits and deductibles. To properly compare auto insurance quotes to what you're presently paying requires you to have your current policy handy. Use this to get quotes for the same exact coverages and limits to gauge if other car insurance companies' quotes are better or worse than what you're paying now.
Change your coverages. After you know what it costs to keep the same items you have now on your car insurance policy, see if you want to make changes and how much you'd save. For instance, if your car is 15 years old it's likely time to drop comprehensive and collision coverages and save.
Adjust your limits. While it's wise to carry higher liability limits, if you're looking to save you and you don't have a great deal of assets to protect, see about lowering your limits slightly or going down to state minimums.
Raise your deductibles. It's smart to pay for minor damages yourself and save your collision and comprehensive coverages for major incidents. If you plan on paying the first $1,000 anyway, then by raising you deductible up to that amount you will save on your annual premium.
Search for discounts. Different insurance companies offer different discounts, so search to find all the discounts you're eligible for. There are common discounts, such as ones for paying in full or being a good driver. And, other lesser known discounts for going paperless, renewing early or being affiliated with certain organizations.
Others ways to save take a bit of work, but if you want the cheapest car insurance rates possible they may be worth it.
Change vehicles. If the vehicle you have is too expensive to insure, perhaps it's time for you to change out to a vehicle that will lower your annual car insurance premiums. You can compare rates on your new choice of car before buying to be assured of your savings.
Build up your credit score. Most states allow auto insurance companies to rate you, in part, based on your credit score. A better credit score will bring you better (lower) rates.
Move. If you're thinking of moving, check to see which area of town will give you low cost car insurance rates. Moving to a neighborhood low in crime and insurance claims will result in cheaper rates.
If you own a car, you should know that the main auto insurance coverage required by most all states is liability insurance and also have purchased it for your vehicle. Liability car insurance is necessary because it covers damages you cause to Read More...