Wondering if you are saving as much as you can on auto insurance costs? You already have been following the time-honored advice of getting at least three quotes on insurance before you buy. Even though you have the basics covered with quote comparison, there are other ways to save on auto insurance costs.
Bundle Up For Savings
See if the insurers you are considering will give you a discount for having two or more types of insurance policies with them. Some insurers will even give a multiple vehicle discount as well. Beware of the bottom line, though. Make sure to compare the final costs of your total insurance coverage with multiple insurers whether or not they give bundle discounts. Another version of bundling up for savings is to check out any group discount plans you can qualify for from alumni and professional groups, or your employer.
Review Coverage Annually
Instead of just paying the renewal bill every year, take a look at what you are paying for. Can you afford a higher deductible than you could five years ago? Changing to a higher deductible can dramatically reduce your auto insurance costs. If the vehicle you are insuring is worth less than ten times your annual premium, it may be time to drop your comprehensive and collision coverage as well. You can find the value of your vehicle here.
Ensure Credit History Is Accurate
Those that maintain good credit make a positive impact on how much they will have to pay in auto insurance, as credit score is one of the factors used to calculate rates. Make sure to check your credit score at least once a year to make sure that all of your credit history is accurate.
Compare Insurance Costs When Car Shopping
Be proactive and research how much the average insurance costs are for the vehicles on your short list before you go out to the car lot. Is the car model you really want likely to be stolen? You can check it out here. If it is, it will cost you more to insure. A vehicle’s safety rating also comes into play in the cost to insure. If the cars you are considering offer additional safety and anti-theft features in their vehicle package, you may get an insurance discount based on that.
Great Discounts You Might Miss
Here are some miscellaneous discounts that could save you some cash when it comes time to renew. If you work from home and drive less than the average insured motorist, you may qualify for a discount. The same thing applies for those motorists that keep their records clean for a period of time specified by the insurer. Teen drivers with good grades could qualify for a good student discount. Older drivers who have taken a defensive driving course may be in line for some savings as well.
Make sure to keep the big picture in mind when shopping for the lowest cost auto insurance. A company that has low rates but a bad reputation for service is not a good deal at all. Even if a company offers numerous discounts, make sure to check that their bottom line is lower priced than their competitors. By paying attention and asking questions, you will be surprised at how much you can save.
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