When it comes to shopping, everyone wants to save money. In this article, we’re going to discuss few more ways, apart from shopping, that could potentially slash down your current insurance rates. While it’s true that you could save a few bucks by collecting quotes after quotes from different insurers that doesn’t mean you’re actually comparing apples to apples.
So, what’s going to be the next move? Do you honestly think that searching for affordable insurance rates is already enough? To make sure that you’re moving into the right direction, keep these things in mind at all times.
Choice Paperless Transactions – Did you know that you could save as much as 10% if you choose to go paperless? What this means is that instead of filling out tons of paper, use the Internet in purchasing your insurance policy. Luckily, major insurance companies in the U.S. are strong advocators of paperless transactions so finding one should be easy. In addition, if you opt to go paperless in your payments, the savings could rack up even more.
Find Discounts – If you love chasing discounts, you’ll going to love this even more. First, get someone to analyze your account if you qualify for any discounted rates. You can’t do this on your own, so contacting an insurance agent is your best bet. Discounts on auto insurance come in many flavors including the all-famed reduced price tags. It’s also possible to receive discounts if you took a refresher-driving course or defensive driving lessons. Next, we have student discounts, club or association discounts, retirees, loyalty discounts and those meant to reward individuals who took time to install safety devices in their cars. Such discounts are not usually advertised and if you don’t ask or do some research, you won’t get them either.
Drive Less – Certain states in the United States reward drivers who spend less time on the road. This means that drivers registering low travel mileage are eligible to receive this favor. This is known as Pay as You Drive (PAYD) insurance and a growing number of states are looking into implementing this type of policy. Theoretically, PAYD could save you as much as 50% off your current rate. If you drive 30 miles or less in a day, it sure is a sure ticket for eligibility.
Try Increasing Your Deductible – You may or may not be aware that by increasing your deductible lowers down the premium. In fact, a mere change of $1000 from $250 deductible is enough to give you a 20% less rate.
Lowering Your Coverage – Ideally, it’s a bad idea to lower down your coverage. However, there are times that you could save money by doing this simple trick. If you don’t drive a new car, you might want to lower down your existing coverage. Let’s say, ditching the full coverage and focusing on the minimum liability coverage only. This tip is particularly useful if you’re eyeing to buy a new car any moment soon.
An insurance coverage of $15,000 to replace a 15-year old Sedan car may not be a good idea after all.
Work Your Credit Score – In our past articles, we’ve discussed the importance of keeping your credit score high all the time. For people with low credit scores, say 600 and below, must do something to improve it. A person having a credit score of 600 or below usually pays more than what a 700-scored person is paying right now.
Did you know that a mere increase of 50 points on your credit score is enough to make some significant changes to your insurance premium?
