Car Insurance Rates -- To Save Considerably, Apply These

Everyone out there would be quite glad to find a way of enjoying cheaper rates as long as such a way does not negatively affect the level of coverage they get. Here are steps that will help you get huge discounts with ease...

1. The difference in what it will cost you to insure similar cars could be much. Therefore, have this at the back of your mind when you go to buy your next vehicle. Avoid any car that has a high theft rate and/or a bad crash rating.

Another thing to find out is the cost of maintaining a car as it is also an issue that affects your rate. I don't know about you; but it does make sense to choose a comparable vehicle that is more insurance-friendly.

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2. You will spend less on auto insurance if your car has a higher safety rating. Go for cars that have systems that improve safety. You will qualify for a Safe Vehicle discount if your car has such features.

3. It's a known fact that young drivers attract high rates. Even in this age bracket, a 23-year old driver will pay much less than a 17 year old all other things being equal.

So you'll do well to NOT place your teenage driver on your policy. You'll be made to pay very high rates if you do otherwise. You can discuss with your agent about signing an exclusion form so that your teen driver can have his/her own auto policy.

If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. This act will save you more than money as your teen driver will happily listen when suggestions are made on things that will bring down the high rates they pay. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.

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4. The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.

Furthermore, if a long term policy holder files just one claim, most insurers will NOT raise their rates thereafter. It makes sense for the insurer as it is cheaper to give discounts to existing policy holders than to acquire new ones.

However, what you may save by switching to another insurer might far outweigh all the incentives you'll get depending on what your rates are and how much another insurer is ready to offer.

let'sassume, that you will get a five percent (or $125) discount after your third year with an insurance company where you current auto insurance rate is $2,500.

However, because of inflation, insurance companies may have to re-adjust their rates to contain such changes. But while you're at it, some other insurer could be prepared to offer a rate of $2,000 or less within that period. Then it won't be wise to stay put because you want to become eligible for a discount down the road even if the expected discount is less than savings you'll get immediately if you change to another insurer.

You'll almost always get lower rates if you take the time to do extensive shopping since there are hundreds of insurers out there. You can only know if it is true in your case if you obtain and evaluate quotes from a good number of auto insurance companies and then see where you'll gain more..

5. There are programs that are set up to make you a better driver. Participate in them. Apart from the fact that they will make you a better driver, they will show your insurance provider that you're doing your best to make yourself a better risk.

6. Do you know that some folks are paying much more in auto insurance because of where their homes are? Homes in the same neighborhood may fall under different risk zones as far as your insurer is concerned.

So, as part of your home shopping activities, check how this neighborhood will affect your auto insurance rate. This doesn't come readily to mind when you're shopping for a new home. Does it?

But think about it: If your new zip code adds up to $300 to your annual auto insurance rate, how much would that amount to at the end of your 30-year mortgage?

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7. A good option for you is to use your parents' car insurance policy. The fact that you are of driving age means that your parents belong to a lower risk age bracket.

There are two conditions that you must fulfill for this to be possible: The vehicle must be registered in your parents' name and you must live with them. This means that by law they own the car. If the benefits of "independence" outweigh your car insurance savings then this is definitely not alternative for you.

8. Make out some time to visit a minimum of 5 insurance quotes sites that return quotes on auto insurance policies. Doing this should require not more than 25 minutes.

As you visit each quotes site, make sure you input the same details. Doing otherwise will give you misleading quotes. When you've received your auto insurance quotes, compare them to determine which serves your interest best both in price and value.

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