In a Down Economy, Save Money on Your Car Insurance
Are you paying too much for car insurance? Ever get that nagging feeling that there is a better rate to be found out there (from a different insurance company)?
Today, with a lagging economy, every dollar counts, so why don’t you sit down and review your policy for premium reduction opportunities.
What better way to a get a better car insurance rate than at your keyboard. That’s right, the Internet has created increasing competition between car insurance companies. Today, it is easier than ever for you to shop around for better rates, review coverage policies and compare premiums. Interestingly enough, major studies have shown that on average, people don’t shop around for insurance like the way they do for a new car. Moreover, people tend to stay with the same car insurance company for years. Well, I think it is time to debunk this one, don’t you?
Five simple ways to save on auto insurance:
- 1. Make sure you uncover and apply all discounts that you qualify for
2. Your driving record, keep it squeaky-clean and up-to-date
3. Adjust insurance coverage to assume more risk
4. Choose and drive a car that qualifies for certain money-saving safety features
5. Shop around for a good, low cost insurance provider
Discounts you might qualify for. Categories:
- 1. Low-risk occupations
2. Professional organizations
3. Combined coverage
4. Discounts for safety features
5. More risk assumed by driver
6. Discounts for senior citizens
7. Install a Lojack or alarm system.
Low-Risk Occupations
Insurance is about risk. Adjustors review driving related trends looking for what types of people get into accidents. Drivers that work as engineers tend to get into fewer accidents. Why? Can’t really say. Maybe they are more attuned to the machinations of the vehicle, the road, safety, etc. Who knows? All the adjuster knows is that engineers tend to have low accident rates and therefore categorized as low risk. I’ve heard the same for people of the cloth. Priests, Rabbis and Preachers. Too funny!
Auto Clubs
Affiliations (AAA, Good Sam, etc.,) will lower your rates. Check with your company to determine group insurance rates availability.
Combining House and Car for Policy Discounts
Try to insure your car with the same company that insures your house. Simply inquire if combined coverage is available. This will lower your payments on your car insurance and make your homeowner’s policy cheaper too. If they don’t? Time to get a new insurer!
Discounts for Auto Safety Features
Auto safety features will also lower your payments. Antilock brakes, automatic seatbelts, and airbags are frequently rewarded with insurance discounts.
Assume More Risk
Assume higher risk. This is done in two ways.
Drop your collision insurance on an older car. If the car is worth less than $2,000, you’re spending more insuring it than it is worth.
Ask for a higher deductible. In other words, pay for the little dings and bumps and let your insurance company pay for the serious stuff. Remember, just to don’t get the little dings and bumps.
