There are so many factors that go in to determining your auto insurance rates. Every state has their minimum requirements, but there are still things you can do to cut down on rising car insurance costs.
Shop around until you find an agent or company that can give you the coverage that you need at a good rate. 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. While many companies boast about how much they can save you, let them prove it. Use the power of the internet and make multiple comparisons all at one time.
While single unmarried men under the age of 21 pay the highest insurance rate, check with your company to see if you qualify for any discounts if you are over the age of 50.
Where you live also has a bearing on how much you pay for your coverage. Residents of rural areas will pay less than those who live in the city. You can do your part in protecting your vehicle by parking it in your garage rather than right on the street or out in your driveway.
Increasing your deductibles from $250 to $500 can mean as much as a 10 percent savings in your annual rates. But check with your agent to make sure that you have increased 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, may cost you more in the long run.
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.
If you have kept your driving record clear of accidents for at least three years you could possibly 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.
Multiple car discounts are an easy and quick way to qualify for 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.