How to Lower the Monthly Payments on Your Auto Insurance
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by: laurawilder
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There are dozens of ways to save money on your auto insurance. Some of them are out of your control; for instance, you cant do anything about an accident you had last year thats raising your premiums. However, there are plenty of small ways that you can affect your insurance premiums. Here are a few.
First, comparison shop. You may find a broad variation in the quotes you get for the same level of auto insurance (one researcher found an $800 difference between quotes), or you may discover that your states standards are so firm that there is little difference between quotes. Request several quotes, choosing a wide range of insurance providers. Also find out whether you can save money with a given agency by bundling your auto insurance with your homeowners or rental insurance, or by insuring more than one car with the agency.
When you talk with the insurance agent, be assertive about ensuring that you get all the discounts you are qualified to receive. Being a safe driver, having a driving history of a certain length, and having safety features like automatic seatbelts and anti lock brakes can all net you discounts at many agencies. A membership with the American Automotive Association (AAA) may also save you money. Driving very little can also lower your premiums: Some auto insurance companies offer lower rates to drivers who drive under a certain number of miles (say, 7,000) per year.
Determine whether you really need certain kinds of coverage. For example, if uninsured drivers are rare in your area, you may be able to dispense with uninsured driver coverage. Also consider whether you can afford to raise your deductible. Higher deductibles mean significantly lower premiums, but if you cant afford to pay a higher deductible if something happens, then raising your deductible is penny wise and pound foolish.
Rather than taking out three month or six month policies, take out a policy for an entire year. Insurance companies often charge less the longer the term of your policy is. Also find out whether you can save by paying for your premium via a different method or a different payment schedule. You may be able to save money by paying for the entire year upfront or through automatic deductions from your checking account.
And, of course, look at who and what you are insuring. Are there other drivers on your policy with you? Being under 25 or having had a recent accident raises a drivers premiums, so if you are sharing an insurance policy with a riskier driver, removing them could drop your premium markedly. Also, are you insuring only cars in active use? If a car on your auto insurance is not being driven, and your state does not require all registered cars to have insurance regardless of their operability, then strike your inoperative cars off your insurance.
This is nowhere near an exhaustive list. As you can see, there are multitudes of ways to save money on your auto insurance. When you adjust your coverage, consider not only which agency to choose and how good your driving record is, but the safety equipment installed in your car, your safe driving habits, and deductions you can get through belonging to the right clubs and taking safety classes. When you have explored all your options, you are likely to see an improvement in your auto insurance premiums. Find more Car insurance Car insurance quotes Discount auto insurance Auto insurance Affordable auto insurance
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