Wednesday, July 30, 2014

How to save money on Car Insurance.

Car Insurance is a costly expense but it is not an option. Auto Insurance is the law. Finding the best rates for affordable car insurance can be overwhelming and challenging. Here is some information for you on how you can save on car insurance.

You may already have car insurance in place however you should not always assume that your current insurance company is giving you the best rate. You should shop around for auto insurance every year before your policy is about to expire. Insurance companies compete with each other and we should use that to our benefit. You may find that you will pay half of the insurance premium you paid a couple of years back.

It is wise to have all insurance policies with the same insurance company. This will give you a discount on all your policies and can save you up to 10%. Whether you own a home or have a spouse or child with a car in the same household, it makes sense to insure them all with the same company.

If you didn’t take a driving education course when you first got your license then now is the time. Most insurance companies offer discounts for drivers who have taken training.

Many car insurance companies base their rates not only on who is driving but also how much you will be driving. You can expect to pay more if your commute to work is long than if you worked around the corner.

Your driving record will affect your insurance premium. Most people already know this but if your driving record is blemish free, your premium will be lower than if you’ve a conviction or accident. If you have a claim then most car insurance companies will increase your premium.

Increase your deductible. The deductible is the amount of a claim that you are willing to pay. If you have a $500 deductible and you put a claim for $1500 then you will pay the first $500 and the insurance company will pay $1000. Increasing the deductible can reduce your premium by 5% to 10%.

Before you purchase a vehicle, be sure to get insurance quotes that you are planning to purchase. The type of car you drive will affect your insurance premium.

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