subject: Smart Ways To Lower Auto Insurance Rates [print this page] When it comes to buying car insurance, almost the first thing anyone ever thinks about is how much its going to cost. 9 out of 10 people worry about not finding car insurance thats going to cost them a fortune AND having all their insurance needs met. Little do they know that they CAN, in fact, buy insurance thats reasonably priced, while covering all their requirements.
Heres a look at some of the smart ways in which you can lower car insurance costs.
What are your coverage needs?
Not everyone has the same coverage needs. Each situation is unique; needs are different. When deciding on coverage, it is important to take factors such as your age, how old the car is, where you live etc, into consideration. For instance, you might want to drop collision on an older car thats about, lets say 10-15 years old. So even if it IS involved in an accident, cost of fixing the damages may exceed the value of your car. To be sure visit the Kelly Blue Book website and determine the fair value of your car. Think about what you need from your insurance before piling on different coverages.
Install anti-theft devices to your car
Insurance companies favor responsible, cautious drivers. There are some insurance companies that offer discounts or lower premium rates to people who install anti-theft and security devices to their cars. Besides, you know as they say, better safe than sorry!
Enroll in a defensive drivers course
This is something everyone, both young drivers as well as older, more experienced drivers should do. A defensive drivers class teaches a driver how to be responsible and safe on the road. Insurance companies are supportive of people who are responsible and careful on the road and some companies even offer discounts to those who do.
Increase your deductible
Deductible is the amount of money you pay out of your own pocket in the event of a car accident. It is a good idea to increase your deductible, as insurance companies tend to charge lower premium rates to people who set higher deductibles. Keep in mind, though, that this amount should be one that you can pay upfront without any hassles. If youre unable to pay your deductible upfront, you might stand a chance to have your premiums raised, or worse, have your policy cancelled. And nobody wants that! So be careful when deciding on a deductible.
Bundle policies
Bundling your home and auto insurance could get you a discount with an auto insurance company. When you buy multiple policies from one provider, youre giving them business. Insurance companies recognize and reward this loyalty with a discount. Next time youre buying insurance, consider bundling your homeowners and auto insurance policy and enjoy a discount.
Lowering car insurance costs does not have to be difficult at all. If you do your research well and are sure of what you want from your provider, you should have no trouble finding rates that are reasonable and affordable.
by: Bethany
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