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10 Ways to Save Big on Auto Insurance
Auto insurance can make a big hole in your pocket. Insurancepremiums vary hugely between companies, agencies or agents,brokers, and of course the make of the car you own and yourcredit rating. To pay lower insurance you must: 1. Always maintain a good driving record. 2. Never accept the first estimate you receive. Be wise andcheck comparisons of different insurance providers at your stateinsurance department website or phone them. Their addresses andcontact numbers can be accessed fromhttp://www.consumeraction.gov/insurance.shtml the consumeraction website. Be sure to get competitive quotes from differentinsurance providers. Contact providers that are stronglyrecommended by people you know well. Keep your peace of mind bychecking the financial stability of the companies with ratingcompanies like A.M. Best (http://www.ambest.com/) as well as inforums and blogs. 3. Complete a market survey well before you select a car makeand make a comparative table of insurance and other hiddencosts. Find out which features increase insurance premiums andwhich ones reduce premiums. For example if parts of a certainmake are hard to find or expensive such cars will have hugeinsurance premiums, similarly installation of anti-theft devicesor an extra brake system lowers insurance premiums. Manyquestions are answered by the Insurance Institute for HighwaySafety at http://www.iihs.org/.4. Choose to have higher deductibles this will reduce the burdenby at least 15-25%. But look at your finances first anddetermine whether you can set aside US$ 200-US$1000 periodicallyto create an emergency vehicle fund.5. Consider availing the insurance from the same company thathas you covered for home, accident, or life. Many companiesoffer concessions to clients who have more than one kind ofpolicy. Known as a multi-policy discount this could benefit you. 6. Most policies are based on your personal credit record.Having an unshakeable credit history can lower costs. Pay billson time, don't avail too many loans, and be sure that creditbalances are as low as possible.7. Avoid duplicating medical coverage. Find out whethereliminating medical cover in auto insurance will reduce yourpremiums or the personal injury protection costs. In some placesthe reduction is as much as 40%. So, if you have adequate healthinsurance you could weigh the pros and cons of eliminating thisin auto insurance. 8. Find out if insurance premiums are dependant on where youstay. Sometimes staying in a rural community or suburbs asagainst the city center could save you a bundle.9. Take advantages of discounts like low risk career, lowmileage, taking public transport to work, car pooling, noviolations or accidents, taking defensive driving courses,following safety rules and regulations, or having a child whostudies far away.10. Use the reductions offered for insuring more than one carbelonging to the family. Many companies have special offers forcorporate organizations, club members, professional groups,alumni groups, or clubs. Make time to make a big saving. Check through all the parametersand mark areas where a saving can be made. The market iscompetitive and you can be the beneficiary.
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