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 Money Saving Car Insurance Tips
These tips are only general recommendations and each situation should be looked at individually to determine appropriate liability limits that you may need.
If you have assets to protect such as a home or business etc. then you should consider higher liability limits and perhaps talk to your local agent about their recommendations.
Most importantly, you want to insure that you get the best rate available to you and that you receive all of the discounts you are eligible for.
- Shop around and compare prices every year. This is the best way to keep saving money each and every year. Do Not overpay for your car insurance. There's no need for it. You can now shop online.
- Get rid of the little extras, like towing or car rental - they are rarely used and when you do need them they are not expensive services. It's up to you.
- Keep your credit in good standing. More and more insurers are using credit history to help determine rates. Pay your bills on time.
- On Collision and Comprehensive coverage where there are Deductibles offered - If you opt for HIGHER Deductibles your cost will be LOWER.
- If you are getting a Used Car over 12 years old and paying cash it is a good idea to simply request the state minimums for coverage thus saving big money on yourinsurance. You may consider higher Bodily Injury limits.
- If the car is between 7 and 12 years old it will be a good idea to get the state minimums plus protecting the car if it is stolen.
- If the car is under 7 years old you may want full coverage - including Collision and all Physical Damage coverage.
- If you have a teenager that lives at home with you, then limit their usage of your car so they are considered to be an "Occasional Driver" by your car insurance company.
- For first time car buyers it's a great idea to get a beater car with the state minimums for insurance and save up a down payment for a nicer vehicle.
- Raise your Deductibles - If you are financing your car you will be required to carry full coverage by the bank. If it is required you carry full coverage and the monthly payments are very high - ask your bank/lien holder if you can get a higher deductible on your collision coverage. Collision covers your car when you cause the accident.
Deductibles are the amount of money you are required to pay if there is a problem. With this method - if you cause an accident or get hit and run you will be required to pay more out of pocket but your monthly payments will besignificantly less. It's up to you.
- An alarm may give you an additional discount if you are getting full coverage or are protecting your car if it is stolen.
- If your vehicle has air bags and automatic seat belts you may be eligible for an additional discount.
- If your mileage is less than 7500 miles per year in many states you are eligible for a discounted rate. Check for mileage discounts.
- If you are a new driver - typically under 3 years - by attending Driving School you may be eligible for an additional discount.
- If you are an older driver - perhaps 65 and above you may be eligible for an additional discount.
- If you have AAA you may be able to get a discount
- Military Personnel and Students may be eligible for a discount
- Companies are now offering Loyalty Discounts - stick with the same company for several years and get a lower rate.
- If you have a Renters, Condo or Homeowners policy you may be eligible for a discount
- If you have more than one car on your policy you may be able to get a discount on how ever many cars you have.
- Use the companies Automatic Debit Program for your payments eliminating any monthly fees or interest.
- Shop around for companies that do NOT charge interest - you just want to pay for Insurance only.
- Read all the mail you get from your insurance company - know what coverage you have and do not have.
- Look into whatever discounts are available in your state and don't hesitate to ask your agent what discounts are available.
Remember when ever you have an accident or get a ticket of some kind - if it is a "moving violation" - your car insurance rate will go up! Your driving record greatly affects your car insurance rate. You want to maintain a clean driving record. Most importantly?
NO SPEEDING - this will reduce traffic violations and the likelihood of an accident.
Good Luck! Now click on these links to quickly and easily get 3-4 low insurance quotes!
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