You know there is no option but to have car insurance for your vehicle, but that doesn’t mean you want to pay a fortune for it. So, how do you save a bit on your insurance coverage? Start with reading these tips that may help you lessen what you pay for the coverage you need.
Deductibles
What is your current deductible? Deductibles have a major impact on the amount you pay on your insurance premium. Those who have relatively low deductibles (say $500 or $250) can save a lot on their monthly premiums by moving that deductible up to $1,000. While that may seem like a lot of money to have to pay out if you are in a wreck, if you put the savings you make on your premium by changing your deductible in the bank, before long you will have the extra money sitting in your account, in case you need it.
Safe Driver
If you are a safe driver, meaning you have not had any infractions for at least three years, you may be able to get a discount from an insurance company for being safer behind the wheel.
Becoming a Safer Driver
Many car insurance companies appreciate drivers who are proactive in trying to be safe behind the wheel. Voluntarily taking a safe driving course may be able to lower your insurance rates as insurance companies will be reassured that you know more about the safety of driving.
What do you drive?
The kind of car you are driving will make an impact on what you will pay for your insurance. If you want to drive a sports car, prepare to pay more for it, as insurance companies see that type of car as the kind you will be more likely to show off in and take risks with.
How’s your Credit?
If you have bad credit, it will impact not only your buying power, but also your car insurance rates. Car insurance companies take a look at your credit report to decide if you are responsible or not. The better your credit, the more responsible they see you as, and they are more likely to think you will be more responsible behind the wheel as well.
Finally, apply online. By applying for insurance online, you will be saving the insurance company money, which they may pass on to you. It is much cheaper for the insurance company to maintain an online website than a bricks and mortal building filled with insurance agents.
Steve Sikes is an MBA and writes articles on insurance and other financial products. To read other educational articles on insurance at the InsuredItAll Learning Center or to get free insurance quotes for auto, home, health, life or long term care insurance, you will want to visit http://www.InsuredItAll.com
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