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Getting the Best Deal on Auto Insurance
Insurance agents really have a lot
of leeway. They can price match and they can offer many
discounts. There are also many decisions you can make
about your policy that will save you a bundle.
Let your fingers do the walking… Remember that
Yellow Pages Ad Campaign? Excellent advice if you’re
shopping for auto insurance. Shop around and do it yearly.
Don’t just keep paying the invoice over and over
without comparison shopping. Below are a few suggestions
to help you get the best deal available on your automobile
insurance policy.
Insurance agents really have a lot of
leeway. They can price match and they can offer many
discounts. There are also many decisions you can make
about your policy that will save you a bundle. For example,
if you change your deductible on your collision from
a $50 deductible to a $1000 deductible, you’re
inline for a huge premium savings. If you don’t
think you could come up with $1000 out of pocket, then
change it to a $500 deductible; you’ll still save
a sizable amount on your annual premium payment.
You can also get more of a savings if
you change your comprehensive deductible. Many people
needlessly carry full coverage on their older vehicle.
They originally purchased the vehicle new, paid for
full coverage and to this day, continue to pay the same
high rate. Their ten year old vehicle may be worth $1000
or less, yet they continue to pay $250-$450 every six
months (total $500 to $900 dollars a year) to keep full
coverage on their old vehicle.
However, if they have an accident and
totaled their vehicle, the insurance company will only
pay them the wholesale value of the vehicle. The amount
they would receive could be $1000 or less. A vehicle
that old just needs the insurance that protects the
other person in case of an accident.
Another method to save more on your
insurance is by combining your vehicles and other insurance
together to get you additional savings. All insurance
companies offer a multi-car discount (if yours doesn’t,
it’s time to switch companies). Further, many will
discount more if you have your homeowners or renters
policy with them.
There are a few other discounts that
you may not be taking advantage of. It seems obvious,
but make sure you are getting the correct rate for your
age. There are discounts for various ages than can save
you lots of money. Check with your agent on this one.
Also alarm systems on your vehicle are usually good
for a discount. Additionally, anti-lock brakes and air
bags can also help lower your premiums.
Don’t just keep paying the invoice
when it comes in. Your insurance bill should be an automatic
trigger for you to make a few phone calls to see if
you can save even more money on your auto insurance
premiums.
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