Saving money is on everyone’s mind these days. And car insurance rates continue to be an area where the rates keep going up year after year. Is there anything that you can do to save money on your car insurance? The following tips that could help you save some money on your next policy. If you can incorporate more than one, it all adds up to some major savings.
First find out exactly what coverage you are required to carry for the state of North Carolina. Once you know the minimum that you must have, check the limits to see if you want to raise them or add additional coverage in other areas. The minimum limits are the most that your insurance carrier will pay out for each accident or incident. If you are aware ahead of time exactly what your insurance needs are it will help you get the best rate without paying for coverage you really don’t need.
Once you know what you need you can get quotes from as many different companies as you wish. You may be surprised at how the rates vary which is why it is a good idea to check out all of the major companies. They each boast about how much money they can save you so now is the moment of truth. This is one of the easiest ways to save money on your car insurance.
When checking out insurance quotes why not put your computer to work and enter your information online to get a price comparison. There are companies that will match up your coverage needs and let you know which companies have the best rates for the coverage that you are looking for. If you are still not sure it is best to speak directly with an insurance agent who can guide you in the right direction.
A simple adjustment of your deductible amount can result in savings on your annual premiums. If you raise your deductible, even just a little, you can lower your rate considerably. Even if you raised your deductible from $250 to $500 you could still realize savings up to 10 percent annually. This simple adjustment could mean some real savings in the long run.
You may want to drop your collision coverage if you drive an older vehicle that isn’t worth more than around $2,000. If you have a vehicle that is still being financed you must keep this coverage, but if your car is paid off, it may be cheaper in the long run to remove it from your policy.
Putting all of your insurance policies under one roof, or bundling, can usually save you money. Insurance companies give discounts to their customers who use them for all of their insurance needs – car, life, homeowners, rental and health. Plus it makes it easier to keep track of with one insurance agent.
Ask your insurance agent if there are any discounts available for keeping your mileage down, being a safe driver, having a safe car, attending defensive driving classes or being a good student.
Make sure your information gets updated every time you renew your policy. You may have added a vehicle and qualify for a multi car discount. Or you may not drive as much if you have retired. Go over your policy for errors every time you renew your coverage.