Cheap Car Insurance Tips
Money Saving Tip #1) Raise your deductible. Your "deductible" is the amount you pay when you make a claim before your insurance coverage "starts". For example, if you have a $300 deductible and a $1,500 claim, you pay the first $300 and your insurance company pays the next $1,200. The drawback of raising your deductible is that when you do make a claim, you'll pay more. The advantage of raising your deductible is that your premium will go down by as much as 20% to 30% on your comprehensive and collision coverage.
Most car owners transfer their existing car insurance policies over to their next car. If you've been with the same car insurance company for a long time, it doesn't hurt to see how they measure up to other carriers. The difference between cheap car insurance companies can be staggering!
Money Saving Tip #2) Drop your comprehensive and/or collision coverage on older vehicles. Sometimes it's just not worth paying for these types of coverage, if your car is not worth that much. The amount you pay for the deductible and the cost of your premium may be more than the value of the car. One rule of thumb is that if a car is worth less than $1000, drop these coverages altogether. The blue book can help you determine the value of your vehicle.
Money Saving Tip #3) Buy a "lower profile" vehicle. The kind of car you own in part determines what your cost of insurance is . Some cars are stolen more often than others. Some are more expensive to repair after collisions or vandalism. Invariably, these cars cost more to insure. To get detailed information on your car -- or a car you're thinking of buying -- check out the Insurance Institute for Highway Safety site.
Money Saving Tip #4) Take advantage of low mileage discounts. Some car insurance companies give cheaper rates to people who drive less than a pre-determined number of miles each year.
Money Saving Tip #5) When you move, consider the cost of insurance. Yes, the cost of insurance varies from place to place, even right there in your area.
Money Saving Tip #6) Check out automatic seat belt and air bag discounts. You may save money on your insurance if you have automatic seat belts and/or air bags.
Money Saving Tip #7) Check out anti-lock brake discounts. Anti-lock brakes improve steering and stability when you try to stop your car.
Money Saving Tip #8) Check out other car insurance discounts. Car insurance companies try to reward drivers that they think are good risks. A lot of insurance companies want drivers who also have other kinds of insurance with them, like motorcyle or travel trailer insurance. These discounts may include things like defensive driver discounts, a good driving record, anti-theft devices, more than one car, other coverage with the same company and more.
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