10 Tips To Save Money On Your Car Insurance
by Justin Scott
Your auto insurance rates are affected by a lot of factors, yet there are some things you can do to save money. Check out this Top Ten list of ways to cut your auto insurance costs.
What you pay for car insurance depends upon your age, your driving record, the type of car you drive, where you live and more. With that in mind, you can control a lot of the costs.
1. Shop around. This is one of the easiest ways to save because rates do vary from one company to the next. It is recommended to get at least three quotes from different agencies or companies in order to see some savings. An insurance comparison Web site is one good place to get some different quotes from the convenience of your computer.
2. Keep a good credit score. Credit ratings are used by a lot of insurance companies as one component for assessing risk. A good credit score is associated with a good underwriting risk and thus you may pay a lower rate.
3. Increase your deductibles. The lower your deductible, the higher your premium. You could save quite a bit by increasing your deductibles.
4. Review your coverages. Make sure you're not paying for more coverage than you need. For example, you may want to get rid of comprehensive coverage on an older vehicle.
5. Drive less. Car insurance companies consider your risk to increase the more you drive, and will often give you a discount for low annual mileage. If you can take advantage of public transportation it could save you on insurance and gas costs.
6. Insure your vehicles with the same company that insures your home. Most companies offer a multi-policy discount which may also apply if you don't own a home but have renter's insurance.
7. Consider insurance costs when you are car shopping. Some vehicles are considered less safe or more apt to be stolen than others, and insurance companies will increase rates for riskier vehicles. Repair costs also can affect how much your insurance is.
8. Take a defensive driving course. Many insurers will discount your premium for approved courses.
9. Maintain a good driving record. Accidents, speeding tickets and other moving violations can make your car insurance costs go through the roof. Too many violations and you may have trouble finding a company that will insure you.
10. Ask about all other discounts available, and take advantage of them.
Apr 25, 2008
10 Tips To Save Money On Your Car Insurance
