With all the bills we have to pay, our automobile insurance may represent a bit of a chunk out of our budget. Here are 8 ways to lower your automobile insurance so that you can save your money or use it for something else.
- If you have a flashy sports car, you will be paying more insurance. Trade it in and get a smaller, more conventional vehicle. Cars that have high performance engines are notably involved in more accidents, so the premiums will be higher. Also making them more expensive to insure, is that sports cars are stolen more often than other vehicles.
- If you have points on your driving record from past tickets, make sure you obey all traffic laws so as not to incur any more. The more points you have, the higher your rates. Also, be sure to periodically check your driving record to see if any points have expired because once they do, your insurance rates will likely go down.
- Get the right provisions for your driving situation. Don’t skimp, but do have all the basics covered including collision, comprehensive and medical payments. You should also consider uninsured-insured motorist coverage as well as under-insured motorist coverage.
- When looking for automobile insurance, get quotes from at least 3-4 different companies. The truth is that some insurance companies are much more expensive than others. To simplify things, if you go to an insurance broker, he or she will be able to give you quotes from several different insurers.
- Ask trusted friends for insurance company referrals. They may have had some dealings with their own company that could benefit you and help you make your decision, without having to do so much research on your own.
- Consider paying your car insurance every 6 months, instead of month-to-month. It’s usually less expensive that way. Just be sure to set aside money each month so you don’t suddenly find you can’t afford the insurance when the bill comes due.
- Before purchasing automobile insurance, read the proposed policy very carefully. Some insurance companies do not pay for original manufacturers’ parts. If that is important to you, you will need to know that in advance, before signing.
- Make sure you understand your deductibles before signing a car insurance policy. You need to find the deductible that is right for your situation. The higher the deductible, the less your insurance will usually cost. Can you afford a high deductible should something happen to your car? If so great. If not, go for the lower deductible and higher rate because you will be required to pay the deductible, if you make a claim.
It’s very important that you understand the individual provisions in your policy. If there is something you don’t understand, ask your insurance agent. He or she will be happy to answer any questions you may have.
I hope you found these tips on how to reduce your automobile insurance premiums helpful.
Please, remember to be safe out there!
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