Affordable Auto Insurance is the way to go so you can spend your hard-earned money where it matters most! These days with the economic crisis wearing on many American families, a good way to add money to your wallet is to find the best, most affordable auto insurance for you and your family. Car insurance can be a major expense for some, but it doesn't have to be. Studies show that consumers don't tend to shop around for insurance as much as they do for the vehicles themselves. Additionaly, it's been shown that insured motorists tend to stick with one car insurance provider for many years. With auto insurance you can easily trim plenty of savings based on the coverage you choose, options you take, and discounts you receive. Here's some helpful tips that will help you get more affordable auto insurance.
1) Shop around for the best deal - It's advised that when you go looking for a new car insurance policy that you get at least 3 quotes. Your driving record will definitely impact your ability to shop around for a better deal. If your record is iffy, try Geico, State Farm, Progressive and Allstate and others before heading to local independent insurance companies. If you are going with an independent, be sure to check their credit rating at Standard & Poor's or Moody's. Insweb.com functions as an independent insurance agent and lead generator where you can compare prices on insurance.
2) Use Any Discounts Available - There's a variety of insurance coverage discounts which can depend on company or state of the insurance agency. Combination discounts, defensive-driving classes (10%), good-student discounts (up to 25%), Retirement discounts, Safety discounts, Loyalty discounts, and Association/group discounts are amongst those to check out when applying for insurance. Association or group discounts can include everything from Mensa to military groups, your alma mater or a large employer. Combination discounts can be insurance policies that come from the same company insuring your home. Another discount type may be given for auto safety features on your vehicle such as antilock brakes, airbags and automatic seatbelts.
3) Increase Deductible - This is the amount you pay out of pocket for a claim prior to your insurance company covering costs. It solely applies to your collision/comprehensive coverage and not your liability. The deductible is the insurance that specifically covers your car. If you increase your deductible, you can cut your premium dramatically. Raising a deductible to $500 or even $1000 can drasitcally reduce your premium.
4) Drop certain coverage - Consider dropping collision and comprehensive insurance totally if your car is worth less than 10 times what you'd pay for coverage. These components of car insurance can make up about 40% of the cost of premium, covering the car's replacement value.
5) Fix credit report up - Having a great credit report can impact your ability to get a great insurance deal. If you're bad with payments elsewhere you may have to pay 30-40% more than other insured motorists for your insurance. Insurers use something called an "insurance score" to determine a driver's risk potential.
6) Choose Best Car for Insurance - Sports cars, and cars with high theft rates or repair costs will always cost more to insure. When debating amongst car models or types consider checking with an insurance agent about which vehicle will be less costly to insure. You may be driving a lower-profile vehicle, but getting a better deal overall for your money in the long run based on insurance and safety.
(Info source: smartmoney.com)
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