We all hate doing it, but it's something that we all must do at
one time or another... the wonderful task of shopping for car
insurance quotes!
Since there's no avoiding it, you might as well learn a few ways
you can save money in the process. Here is a compilation of the
top tips you can use to make sure you never overpay for your car
insurance premiums...
1. Search for quotes regularly - Many people inadvertantly pay
the same premium for years without ever shopping around. As your
vehicle ages, it depreciates in value. You shouldn't pay the
same premium on an older vehicle as you would on a newer one...
think about it! It's generally good practice to do a quote
search on a yearly basis, but the more often you do it, the
better 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 to
consider the value of your vehicle compared to what you're
paying for your premium. If your vehicles wholesale value is,
say $1000, why pay almost that much per year (give or take) when
that is all you will get from your insurance agency... if you
total your vehicle?
3. Take a defensive driving course - A simple 6 hour defensive
driving course can save you up to 10% on your insurance premium.
Contact your local department of motor vehicles for information
on taking this course. Many times, you can also take this course
by mail, by video, or even online!
4. If you have more than one vehicle in your household, insure
them with the same agency - Most insurance agencies will knock a
huge percentage off of your premium for multiple auto insurance
policies.
5. If you also have life, home, fire, boat or any other type of
insurance, use the same agency - As with having multiple auto
policies, most agencies will knock a huge percentage off of your
premium for multiple policies.
6. Increase your deductible - The higher the deductible you
choose, the lower your premium will be, so set your deductible
at the highest rate possible... just make sure that if you were
to need the insurance you would be able to cover this
deductible.
7. Maintain good credit - Insurance agencies, just like any
other business, like to be paid... and on time. A good credit
rating will lower your premium.
8. Think like an insurance agent - Insurance agencies base their
rates foremost on one thing... risk. The more at risk you seem
to be, the higher the premium will be, and vice versa. When
talking with an agent, give them reasons that you are at a lower
risk, ie: you have a safe vehicle, you have a clean driving
record, you don't use your vehicle for work purposes, you don't
travel often, you're vehicle has anti-theft devices, you park in
a garage, etc. A good idea would be to make a list of why you're
at a lower risk before you even speak to an agent. Be creative!
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