Whether you are buying a new car or looking to update your current coverage there are some tips on how you can save money on your car insurance. The following tips could help you save some money on your next policy. And if you can incorporate more than one, it all adds up to some major savings.
If you don’t know already, you need to find out exactly what coverage you are required to carry for the state of Utah. Knowing the minimum that you must have you can check the limits to see if you want to raise them or add additional coverage in other areas. The minimum limits represent the most money that your insurance carrier will pay out for each accident or incident. If you are prepared ahead of time and know exactly what your insurance needs are it will help you get the best rate without paying for coverage you really don’t need.
One of the best tips you can use right away is to shop around. Put together your list of the coverage that you want and the ones you would like more information on and start submitting information for quotes. Expect a variety of rates for the same coverage so it will pay to shop around to find the lowest rates.
The internet makes it so easy to get the most information back in the quickest amount of time. There are actually 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. Or if you are more comfortable speaking directly to an insurance agent, start making phone calls and a qualified professional will certainly be glad to help answer your questions.
You can save up to 10 percent each year simply by raising your deductible. Raising your deductible even from $250 to $500 can add up over a year’s time. And it won’t mean that much of a difference if you did need to make a claim. If you are a safe driver already, it might not make a difference at all.
Unless you still owe money on an older vehicle, if the value of the car is only around $2,000 or less you may want to drop your collision coverage. But if you have a vehicle that is still being financed you must keep this coverage as your lender will want to protect their investment.
Some insurance companies will give you a substantial discount on all of your insurance policies if you bring your life insurance, homeowner’s policy, renters insurance and even health insurance to their company. Putting all of your insurance policies under one roof, or bundling, can usually save you money and it makes it a lot easier to keep track of with everything with one insurance agent.
If you keep your annual mileage down you can qualify for a low mileage discount and you might want to ask your insurance agent if there are any discounts available for being a safe driver, having a safe car, attending defensive driving classes or being a good student.
Whenever you renew your insurance, make sure your information gets updated. Circumstances change and you don’t know if there are any new discounts that you might qualify for now that you weren’t able to before.