Car insurance can put a big dent in your pocket. Insurance premiums vary wildly between companies, agencies or agents, brokers, and of course the brand of car you own and your credit rating. To pay for lower insurance, you must:
1. Always maintain a good driving record.
2. Never accept the first estimate you receive. Be wise and check the comparisons of different insurers on your national insurance service's website or by phone. Their addresses and phone numbers can be viewed from http://www.consumeraction.gov/insurance.shtml the Consumer Action website. Be sure to get competitive quotes from different insurers. Contact providers who are highly recommended by people you know well. Get peace of mind by checking the financial stability of companies with rating companies like A.M. Best (http://www.ambest.com/) as well as forums and blogs.
3. Conduct market research well before selecting a car brand and draw up a comparative table of insurance and other hidden costs. Find out which features increase insurance premiums and which reduce premiums. For example, if parts of a certain brand are hard to find or expensive, these cars will have huge insurance premiums, similarly installing anti-theft devices or an additional braking system reduces insurance premiums . The Insurance Institute for Highway Safety answers many questions at http://www.iihs.org/.
4. Choose to have higher deductibles, it will reduce the burden by at least 15-25%. But first review your finances and determine if you can set aside US$200-1,000 periodically to create an emergency vehicle fund.
5. Consider getting insurance from the same company that covers you for home, accident or life. Many companies offer concessions to customers who have more than one type of policy. Known as multi-policy discounts, this could benefit you.
6. Most policies are based on your personal credit report. Having a solid credit history can keep costs down. Pay bills on time, don't overuse loans, and keep credit balances as low as possible.
7. Avoid duplicating medical coverage. Find out if eliminating medical coverage in car insurance will reduce your premiums or injury protection costs. In some places, the reduction reaches up to 40%. So if you have adequate health insurance, you can weigh the pros and cons of eliminating that in car insurance.
8. Find out if insurance premiums depend on where you are staying. Sometimes staying in a rural community or in the suburbs of downtown can save you a lot.
9. Take advantage of discounts such as low risk career, low mileage, public transport to work, carpooling, no violations or accidents, defensive driving lessons, compliance with safety rules and regulations or having a child who studies away.
10. Use the discounts offered to insure more than one car belonging to the family. Many companies offer special offers for companies, club members, professional groups, alumni groups or clubs.
Take the time to save big. Check all settings and mark areas where savings can be made. The market is competitive and you can benefit.
