Archive for April, 2010
Auto insurance is a requirement in the U.S. if you want to drive on any public roads. It is a way to protect you and the other driver from financial harm in the event of an accident. However, auto insurance coverage is normally very expensive and challenging for most people to pay. Nevertheless, saving money on auto insurance quotes is possible if you implement some cost saving strategies such as increasing your deductible, comparison shopping just to name a few.
You can save money on car insurance by increasing your automobile deductible to a higher deductible. If your deductible is $500, check with your auto carrier to see if you can increase it to $1000. Increasing your auto deductible may save you up to 20 percent. However, consider whether the new amount is financially feasible if you were involved in an accident because the deductible amount is your responsibility. If the higher deductible is not financially feasible, it is better not to increase your deductible.
Comparison-shop with different insurance carriers when you are getting car insurance quotes, you will find that insurance rates vary from one company to the next. The best way to perform comparison-shopping is via the internet. It is easier, faster and convenient. With the click of a mouse, you have the ability to receive insurance rates from different companies. When you call into a brick and mortar insurance company, you spend a huge amount of time waiting for assistance. They might place you on hold several times. Instead of a quick two minutes phone call, you might be on the phone 15 minutes or more.
Do you own an older vehicle? If so why not consider dropping your comprehensive or collision coverage, these are optional items on an older automobile and will save you money. The drawback to dropping this coverage in the event of an accident you are liable for the damage to your own vehicle.
Consider adding all your insurance items to one company. If you own a boat or a home, add them to your auto insurance carrier. Most insurance carrier will grant you a multi policy discount ranging from 10 to 20 percent depending on the carrier.
Add an alarm system to your vehicle such as keyless entry. Car alarms and other safety features help you reduce your auto insurance cost. Most insurance companies will grant you up to 10 percent off if you have an alarm system. Additionally, you are able to obtain discounts for anti-locking brake system and parking sensors.
Are you involved in any organization or group? Check to see if your organization is affiliated with any companies that offer auto insurance discount. There are insurance companies that offer discounts if you are a member of an organization.
Finally, maintain a good driving record with no tickets. Insurance companies reduce your premiums when you have a good driving record. You are considered less risky than drivers who have frequent accidents and tickets.
The next time you want to save on your auto insurance implement some of the strategies reference, and you will no doubt find affordable insurance.