Automobile Insurance -- Tips That Will Help You Save Considerably

There are many ways open to anyone who plans to enjoy cheap insurance. But at the same time, some options folks employ in order to reduce cost actually make them get less than adequate coverage. This is, however, not the case with the options I'll give you in this write-up as you'll save while still maintaining enough coverage....

1. You're certainly paying more than necessary if you've got collision and comprehensive coverage types for an old vehicle that's not a classic. A vehicle's Kelly Blue Book value at the time of filing claims (and not the price of the car when you bought it) is what controls what you will get paid by an insurer. This shows that not minding the amount you spen on premiums and for how long you did, you will get NOT a dime if the book says the vehicle is worth nothing when you make a claim.

So, stop frittering away your money. The moment your car becomes old, cut out collision and comprehensive coverage types on it. This simple step will give you much savings and not put you at risk at the same time.

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2. Several insurance providers will hand you a discount if a child on your policy gets into college and doesn't use the vehicle at that period. If your kid is in college then you should discuss with your insurance agent about the possibility of getting this discount. I must stress, however, that some insurance companies do not give this.

3. Re-evaluating your car insurance policy at regular intervals is one way you can lower your rates. Change is constant and happens without notice but then we mustn't still bear the cost for matters that those changes have made unnecessary. How many people, for instance, remember to drop their daughters from their car insurance policies the moment they get married?

In addition, there are discounts you might be entitled to. It might also no longer be in your best interest to maintain certain coverage types.

Go through your auto insurance policy up to twice yearly. You might spot several things that are no longer a need and save when you drop them.

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4. An easy but rewarding way of bringing down your premium is by authorizing an EFT (Electronic Funds Transfer). By doing this you authorize an insurance company to automatically withdraw your premiums from your account when due. This saves an insurer's overhead by removing the need for payment notices or checks. An insurance carrier gives you part of what they save by offering you a lower premium.

5. The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Depending on the insurer, you'll be eligible for a discount of 5% once you've stayed with them for between three and five years.

Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. These are all incentives for you to stay with them for as long as possible. The longer you stay, the more you'll save.

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.

Say, for example, that your auto insurance premium with your present insurance provider is $2,500 you will get a discount of about five percent or $125 if you maintain your policy with them for at least 3 years.

But we can almost say with some assurance that because of inflation your rate might not remain the same. But if you are someone who does regular shopping for auto insurance you will almost always get an insurance carrier within those years of waiting who will give you comparable coverage for less. Then it would be anything but wisdom to stay put because you want to qualify for a discount down the road knowing that the expected discount is less than savings you will get immediately if you change to another insurer.

You'll most likely pay less if you make out time to do extensive shopping because there are hundreds of auto insurance companies available. You can only know if this is true in your case if you obtain and compare quotes from a good number of auto insurance carriers and then see where your interest is better served..

6. Your might be paying a lot more than you should because of some really unnecessary add-ons like towing. By the way, your credit card might already offer this as a benefit so check.

Even if yours does NOT add this kind of service, a dedicated towing service from a third party will serve you better and save you more than adding towing to your auto insurance policy.

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7. Doing business online is cheaper and more efficient. This also applies to buying and selling auto insurance. By extension, insurance providers spend less online and therefore give a massive discount of about 15% for those who buy their policy online.

This makes it obvious that you'll save a lot more if you buy online.

Do your utmost to present your details truthfully. If you try to cheat you'll lose big time on the long run (Your insurer will be covered by the law if they cancel your policy on the grounds that you misrepresented facts).

Furthermore, verify from your state's department of insurance that they you're buying from a reputable company that's licensed to sell this policy.
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