subject: Best Ways To Minimize Auto Insurance Premiums [print this page] Best Ways To Minimize Auto Insurance Premiums
There are things one should consider before going ahead with the insurance policy and the premiums. It is vital that you take time to think about the particulars of the car insurance policy and set it right. These things are not as complicated as they seem to be. They are basically very easy. There are steps for you see if you can reduce your auto insurance premiums.
1. You have to request higher deductibles: this means that you have to use your deductible amount before the insurance policy is used. The deductible is the amount that is used up before you get the insurance. Therefore by bumping the deductible from $200 to $500 there is a chance that the cost would lower the collision and comprehensive coverage with around 15 to 30 percent. And an increase to $1000 would mean that the cost is up by 40 percent.
2. Skip coverage which is not needed: it is better to skip the collision and comprehensive coverage on the old cars that do not fetch good money in the market. Such coverage is a waste as it cannot claim much and will perhaps not increase the cost of the deductible amount and the insurance. It is necessary that you first assess the value of your car.
3. Avoid the duplication of medical claim: that is if you are in perfect health condition, life and disability insurance should be avoided, you should buy only the minimum protection that is necessary or needed by your state.
4. Buy a low-profile vehicle: the insurance of an expensive vehicle will rise and the expenses to repair the vehicle are expensive too. Do not buy a car that is popular with thieves or which are not having good safety records.
5. Low mileage discounts: there are companies that offer 'low-mileage discounts' to the policyholders who drive less miles each year and who carpool. You can easily find out if you qualify for this feature.
6. Safety gear is a must: discount is availed to you on the policy if you have safety gears in your car like the air bags, theft alarms, automatic seat belts, daytime running lights and anti-lock brakes. Such items in your car can give you some additional discounts and you can save money due to these devices.
7. Teens are given discounts: there are policies where you can insure teenagers on the policy of the parents' instead of the separate policy. If the teens have passed and approved drivers' course and have maintained good grades for driving, then usually they can qualify for discounts or reduced rates. There is also an additional discount scheme wherein, discount is given to the teen if he is in college and does not bring the car to the college even if it is 100 miles distance.
8. Combination of policies with the carrier: you can reduce your auto insurance premiums if you insure all the vehicles like the recreational vehicles, trailers on only one policy. The premium reduces considerable if you buy homeowner's policy or life insurance policy from the same company.
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