If you think that you have no alternative to the high cost of insuring your automobile, you will be surprised to find out there are ways to trim a few bucks off your policy. Even though you must keep the mandatory coverage that is required by your state, there are some tips that you can make use of when you purchase or renew your car insurance.
Knowing what your coverage needs are is the first step in building the best policy at the best rates. If you know first off what the minimum amount of liability coverage that is required to drive in the state of Arkansas you can fill in the other areas where you feel you may need more or less coverage. By knowing what you need you can eliminate unnecessary and oftentimes costly coverage.
If you want to save money, you better shop around. To get the best rates for your car insurance you shouldn’t hesitate to check out as many reputable insurance carriers as you can. You may be surprised at how the rates may fluctuate for the same amount of coverage. Word of mouth is another way to find out who has the best rates. Check with your friends and family members to see which companies they use and get their feedback on how they process claims and how often they raise rates, etc.
The internet is a vast source of information so you should take the time to utilize it and make it work for you. Find one of the online companies who obtain your insurance criteria and then match it up with a number of different companies. They will either put you in touch with a local agent or provide you with across he board rate comparisons. If you would rather speak to an insurance agent in your area, he or she will be able to guide you to the right coverage for your needs.
You can save up to 10 percent a year just by increasing just one of your deductibles. When you increase your out of pocket expenses from $250 to $500 you can save an average of $120 without even adjusting your coverage.
Letting the collision coverage on your older car go is a smart way to save some money without affecting the primary coverage that you need. If you car is not valued at more than $2,000 it may not be worth covering depending on how much your carrier will pay to replace it and how much your deductible is.
Ask your agent about all of the discounts that his or her company offers. Your agent is eager to get your business in this competitive industry so make use of the information he has to offer. Check out safe driver discounts, savings for keeping your mileage low, being a safe driver and even a good student discount for any teenagers in the house.
Keeping your car protected makes you less of a risk to your insurance company. And the less risk you are the less your car insurance premiums will be. If you can, install safety devices to protect your car from theft and or burglary, park your car inside a garage rather than on the street and even add a retrieval device in the event that your car is stolen. This will help keep the cost of repair and replacement of your vehicle down.
And don’t forget to check over your policy for any errors when you first get it and then update your information upon renewal. Things change from year to year –and sometimes sooner than that – so let your insurance agent know so your premiums reflect these changes.
