Increases in car insurance rates are a problem across the country. There are so many factors that go in to determining your auto insurance rates what are the things that you can actually do to save money on your annual premiums? Every state has their minimum requirements, and even if they didn’t, not having car insurance is not a sensible option. Here are some solid ways that you can save money on your car insurance.
Shop till you drop. Check out all the major insurance companies and start comparing rates for the same coverage. You may be surprised to learn that you have been paying more all along. Many companies boast about how much they can save you, let them prove it. And with the power of the internet, you can make multiple comparisons at one time.
Changing your deductible from $250 to $500 can mean as much as a 10 percent savings in your annual rates. Make sure that you increase them in areas that won’t hurt your pocketbook later. Saving now is a good thing but if it means you are going to have to shell out more later, when it may be more inconvenient as well, may not make sense.
Reconsider keeping your comprehensive and collision coverage on a vehicle that is getting up there in age. If you currently have a car that is worth less than $1,000, the cost of keeping this vehicle insured may be more than it would cost to repair or replace it.
You may qualify for a “low mileage discount” if you keep your annual mileage to a minimum. When you travel, consider a car rental or take advantage of lower airfares when they are available. See if you can join a carpool or start one if there isn’t one available at your company.
Keep your driving record clear of accidents for at least three years and you could qualify for a safe driving discount. You must not have any infractions at all during that period. If you have a non-moving violation, check with your insurance company to see when it will be removed from your driving history. You may be eligible for that discount sooner than you think.
Having multiple cars on the same policy usually results in a discount. And having multiple policies could bring down your rates as well. See if your company carries renters or homeowners insurance and have them all under one roof. It will help you keep track of your policies better and you will most likely get a better rate for each one.
If in doubt, ask your insurance agent if there are any discounts that you may qualify for. Changes occur every day and you never know what will bring you the lowest insurance rates.