subject: How To Save Money On Auto Insurance Policies [print this page] You know that you have to have car insuranceYou know that you have to have car insurance. If you live in the USA, your state laws require some minimum amount of coverage. If you still have an auto loan, your lender also requires coverage because they want to protect their investment in your vehicle. Yes, you do have to buy an auto policy. But you still can choose the company and policy you will pay for. Be certain that your choice is a good one so you get top quality coverage at an affordable price.
If you want to be very sure that you have the best car insurance rates, you will need to shop around. I am often surprised that people will spend weeks comparing new cars, but never take the time to compare auto policies and insurance companies. Paying that premium is a big part of the cost of owning a vehicle. Many careful shoppers never take the time to compare insurance rates. I think that is a costly error.
If you are lucky enough to shop for a new or used car, you should also keep the cost of covering it in mind. Some vehicles are cheaper to insure than others. If you actually priced insurance in advance, this cost may affect your final decision about which car to buy.
Even if you do not get to go out and purchase a new vehicle, you still have some great opportunities to save on your premiums. There are lots of discounts on the market. You may be entitled to earn one for something you can do without much trouble. For example, you may save a lot of money if your older vehicle has a modern ant-theft device. Things that you do to help lower your risks, and also the insurance company costs, can earn discounts. The more you reduce your risks, the cheaper your insurance should be!
Did you know that many insurers will offer you a better price if you place more than one policy with them? If you have more than one vehicle, a house, or other drivers to cover, you can probably take advantage of a better price if you bundle them all with one insurer!
Does your car insurance still cost too much? If so, you may want to consider raising your deductible by a few hundred dollars. This step will save you money on your bill every month. Remember that this move can be a little risky. If you do need to make a claim on your policy, you will have to come up with more money for your out of pocket share of the bill.
If you are going to raise your deductible, you should be sure to have money to cover it in a savings account. Otherwise, do you have enough room on a credit card to pay for damages? However, you have an opportunity to use some of your savings to pay down credit cards or start an emergency fund.
You do not have to accept high prices or a rate increase from your old insurer. You are free to shop around for a better deal. Hopefully, these hints can help you save time and money!
by: Marilyn Katz
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