Top Tips to Save a Ton of Money on Auto Insurance Premiums
We all hate doing it, but it's something that we all must do atone time or another... the wonderful task of shopping for carinsurance quotes! Since there's no avoiding it, you might as well learn a few waysyou can save money in the process. Here is a compilation of thetop tips you can use to make sure you never overpay for your carinsurance premiums... 1. Search for quotes regularly - Many people inadvertantly paythe same premium for years without ever shopping around. As yourvehicle ages, it depreciates in value. You shouldn't pay thesame premium on an older vehicle as you would on a newer one...think about it! It's generally good practice to do a quotesearch on a yearly basis, but the more often you do it, thebetter chances you have of getting lower rates. 2. If you have an older vehicle, consider "liability only"insurance - When making a decision like this, you need toconsider the value of your vehicle compared to what you'repaying for your premium. If your vehicles wholesale value is,say $1000, why pay almost that much per year (give or take) whenthat is all you will get from your insurance agency... if youtotal your vehicle? 3. Take a defensive driving course - A simple 6 hour defensivedriving course can save you up to 10% on your insurance premium.Contact your local department of motor vehicles for informationon taking this course. Many times, you can also take this courseby mail, by video, or even online! 4. If you have more than one vehicle in your household, insurethem with the same agency - Most insurance agencies will knock ahuge percentage off of your premium for multiple auto insurancepolicies. 5. If you also have life, home, fire, boat or any other type ofinsurance, use the same agency - As with having multiple autopolicies, most agencies will knock a huge percentage off of yourpremium for multiple policies. 6. Increase your deductible - The higher the deductible youchoose, the lower your premium will be, so set your deductibleat the highest rate possible... just make sure that if you wereto need the insurance you would be able to cover thisdeductible. 7. Maintain good credit - Insurance agencies, just like anyother business, like to be paid... and on time. A good creditrating will lower your premium. 8. Think like an insurance agent - Insurance agencies base theirrates foremost on one thing... risk. The more at risk you seemto be, the higher the premium will be, and vice versa. Whentalking with an agent, give them reasons that you are at a lowerrisk, ie: you have a safe vehicle, you have a clean drivingrecord, you don't use your vehicle for work purposes, you don'ttravel often, you're vehicle has anti-theft devices, you park ina garage, etc. A good idea would be to make a list of why you'reat a lower risk before you even speak to an agent. Be creative!
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