Tips On Lowering Car Insurance Costs

Check the following tips, if you want to keep car insurance costs under control, or even better, lower them. Visit our website to get free quotes from top automobile insurance companies.

  • auto-insurance-rateIncreasing deductibles. Raising the value of how much you pay out of pocket before coverage begins will lower your premium. This strategy could backfire if you get into an accident and you cannot afford paying thousands upfront.
  • Drive less. You can save a lot of money by carpooling to work. Most insurance companies base rates on annual mileage, so if you reduce yours, you will qualify for a lower rate. If you’ve recently cut down on driving for any reason (from retiring to shorter commute distance), talk to your agent about a rate cut.
  • Don’t buy unnecessary coverage. For newer cars, it makes sense to spend on collision and comprehensive insurance. Once a car is 10 years old or has more than 100,000 miles, you could easily be paying more for C&C than the car is worth. What’s more, if it’s totaled, you’ll get back the car’s dismal current market value, not the new replacement cost.
  • Bundle policies. If you use different companies for your homeowners and car insurance, you’re likely paying too much. Combining your policies often will save you some money.
  • Use a tracking device. Usage based insurance, which uses telematics has become a new trend. Careful drivers in certain states who meet specific criteria will automatically receive a discount after the company analyzes data.
  • Keep a good credit score. Many insurance companies consider a driver’s credit score when determining rates, so maintain good credit by paying all of your bills in a timely manner and you will likely qualify for a better insurance rate.
  • Ask about discounts. Speak with your agent to determine if you qualify for other discounts, such as good driver discounts or some teen/student discounts, if this is our case.

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