|
The most asked question about auto insurance is how much will it cost? Of course, cost is a big determining factor, but you should also be asking yourself about value and what's the right insurance for me. After all, the only reason you have insurance is so that it will provide what you need when you need it the most.
Factors Impacting Cost
- age
- gender
- marital status
- driving record
- credit
- where you live
- what kind of car you drive
- how much you drive and for what purpose
Ways to Save Money on Auto Insurance
Shop around.
Prices for the same coverage can vary by hundreds of dollars from company to company, so it pays to shop around. You should get at least three different price quotes. But, don't shop for price alone. Talk to a number of insurers about what they offer and what they would do to lower your costs. Don't forget to ask about claims service!
Assess your deductible.
Deductibles represent the amount of money paid out-of-pocket before you make a claim. By requesting higher deductibles on collision and comprehensive coverage, you can substantially lower costs.
Check your vehicle's safety & security rating.
Before you buy a new or used car, check into insurance costs. Many companies now offer a discount for vehicles with higher safety and crash test ratings. Cars that are expensive to repair or are favorite targets for thieves also have much higher insurance costs.
Take advantage of good credit.
Many companies offer better rates to customers who have good credit histories. Find out if you can save money with a good insurance score. For information on credit, visit Associated Credit Bureaus, AnnualCreditReport.com or Consumer Credit Counseling Services.
Buy vehicles with safety devices.
You may be able to take advantage of discounts on some types of coverage if you have automatic seatbelts, airbags or anti-lock brakes.
Inquire about Other Discounts.
Some insurers offer discounts for carrying more than one policy (home, auto, multiple cars), no accidents in three years, drivers over 50 years of age, driver training courses, anti-theft devices and good grades.
Check out defensive driving & drivers educations courses.
Some insurers provide discounts if drivers brush up on their skills. Teenagers may also receive discounts for taking a certified training course.
|
