All posts tagged save on auto insurance

5 Tips to Saving Money on Car Insurance

by Carsurfer Admin on 2014/08/25 in Auto Insurance with Comments Off on 5 Tips to Saving Money on Car Insurance

No one like to spend money on car insurance, but it is a necessary evil that everyone must buy into on some level. Every state requires that everyone carries minimum car insurance, but keep in mind that it doesn’t have to break your bank accounts. If you understand certain strategies, you can save money on car insurance. There are five ways to reduce overall car insurance costs.

Compare Quotes

Failure to comparison shop is one of the worst mistakes that most people make. Many people either take the insurance that comes the most recommended to them or claim they can save them the most money. According to a study, many individuals overpay nearly $368 each year on auto insurance. Make sure you get quotes from a lot of different companies and then compare each quote side by side. This way when you are comparing companies like State Farm, Geico, or Anthony Clark Insurance Ltd., you will be able to find the best insurance plan for you and for the best price.

In addition to comparing quotes, keep in mind that auto insurance companies measure risks in several ways. For example, if you move several miles from your current location, the cost of your policy will increase. This is why you must check auto insurance rates every year. In addition, you should comparison shop each time your location, marital status, or traffic violations change. Each factor affects insurance costs, and you will only get a good deal if you find rates that you qualify for.

Discounts

Most insurance companies do not advertise each specific deal that they offer. For example, if your insurance policy includes a college or high school student, find out if your insurer provides discounts for good test scores. Some companies also offer discounts to military officers and to people who have good driving records. Discounts are also offered to individuals who completed a defensive driving class and drivers who have certain safety features in their vehicles.

Bundle the Coverage

Bundling your car insurance coverage with your renter’s or homeowner’s insurance is a simple way to reduce your insurance costs. Most major insurance companies provide this particular discount.

Insurance companies offer a bundle discount so that they customers will not shop around. However, you should always compare rates with your current provider’s rates each year.

Try to Drive Less

The most overlooked discount is the low-mileage discount. Insurance providers calculate their rates based on your chance of having an accident. The low-mileage rates for each insurance company varies, but it is usually between 7,500 to 15,000 miles every year.

Walking, biking, and using public transportation can reduce the miles that you drive every year, which will lower your car insurance rates.

Maintain Good Credit

When insurance companies determine the cost of a premium, employees review a lot of information, such as credit. To boost your credit score, pay off your current bills and debts. These changes will improve your interest rates on loans and will lower your insurance premiums.

Overall, there are many other ways to reduce your insurance costs, such as driving an older car or dropping a coverage. You should never drive a vehicle without auto insurance, and you should never let your coverage lapse.

5 Ridiculous Reasons You Pay More for Car Insurance

by Carsurfer Admin on 2014/05/21 in Auto Insurance with Comments Off on 5 Ridiculous Reasons You Pay More for Car Insurance

There is a good chance you may be wasting money on car insurance. This is not because you are a bad driver or a high risk. Sometimes people tend to overlook the best way to save money. There are some reasons why you may be paying more for car insurance.

Failing To Comparison Shop

You could be the kind of driver that sticks with one insurance company for years. This is fine in some cases. If you have a great history with an insurance company, that is probably the best bet. However, it doesn’t hurt to shop around. You may save a lot of money by going to another provider. There may also be some insights gained. An outside agent may find some holes in your coverage that were overlooked. It is a good idea to take a yearly look around to see what is available. This is the best time to do this because your policy is up for renewal around this time. Drivers can search for better rates anytime of the year.

Not Combining Policies

Most insurance companies provide deep discounts. This is done if you have car insurance and home insurance with the same provider. If you can, combine multiple policies with same provider. A lot of insurance advertise multi-policy discounts. These discounts can save you 10 percent or more off of your premium. You can save more when you package everything together.

Keeping Deductibles Too Low

Your premium may be too high if your deductibles are small. Your premium can be lowered by about 20 percent if you increase your deductible from $200 to $500. Make sure you have enough money to pay your deductible if you raise it. This helps if you should ever need to make a claim. You should keep the money in an emergency savings account. If you do not file a claim, then you can keep the savings. You will not waste money on a higher premium either way.

Not Asking For Discounts

Discounts for car insurance are given to teen drivers with good grades. There are members of some organizations that receive discounts as well. Those organizations include AARP or a college alumni association. An organization like AAA does not have a guarantee that membership will save you money on car insurance. Many members do find savings, discounts on shopping, emergency road assistance, and other benefits. You can talk to your insurance agent to see if you qualify for special car insurance discounts.

Paying Unnecessary Fees

Some auto insurance companies will charge you a service fee. They charge this fee every time you make a monthly payment. This amount is generally between $1 and $7 every month. These figures add up. Look for insurance companies that do not charge extra for monthly payments to lower your auto insurance rates. You can also try to save up and pay the whole premium when it is time to pay it. This eliminates monthly charges as well.

There are a lot of reasons why you pay may more for car insurance. Most drivers wind up paying more than they should when they purchase car insurance. Sometimes it can seem overwhelming and complicated. You can take your time and do a bit of research to review insurance quotes, drivers will be able to find the right policies at a reasonable price.

Five Steps You Can Take to Reduce Your Car Insurance

by Carsurfer Admin on 2014/03/31 in Auto Insurance with Comments Off on Five Steps You Can Take to Reduce Your Car Insurance

People will often complain about how much money they are paying for their auto insurance, but these same people will seldom take simple steps that can save them money on a car insurance policy. There are options out there that can help you greatly reduce your insurance costs.

The following are just five steps you can take that will most likely result in a lower cost policy.

Make sure you are not over insured

Too often people are paying for more insurance than they really need. An individual will have a brand new car fully insured, but over time the car depreciates, and there is less need for full coverage. In the case where you are making payments on a new car, the lender will demand that the car be fully insured, but once the car is paid off, you may not need all of the coverage that was mandatory with your car financing. 

Add safety features to your car

You should contact your insurance agent first or at least get a quote, but most companies will offer discounts for specific anti-theft devices that are installed on a car. Where you park your car can also affect the premiums you pay. If you park your car in the garage instead of on the street, you may get a discount for this as well. With less chance of vandalism, your insurance rates will be less.

Combine insurance policies with one company

For those who are home owners, there are insurance companies that offer both auto and home owners insurance. They will commonly offer a discount for having both polices with them. This can mean a good discount in premiums for both insurance policies. 

Pay for the entire policy instead of making payments

Although this is not always possible for financial reasons, in almost every case you will save money if you were to pay for the entire policy at once instead of three to five payments over a six month period. 

Shop around

This would seem to be obvious, but so many people simply do not get several quotes. Even when a policy expires, they simply start paying on a new one with the same insurance company without attempting to get lower prices. If you get several quotes, you may be surprised at how much money can be saved on a car insurance policy. 

Before you start looking for the best quotes from agents check to make sure you are following a few of these tips. Not all insurers are the same so agencies may place high reductions on one thing or another. Whether you take these tips to heart or not the most important thing to remember is that you don’t have to settle for the first quote you get.

Author Bio: Annette Hazard is a freelance writer that has suggested Trail Auto Tag Agency in the past. She often writes about business as well as ways to save money.