If you think there is no way you can see any savings from your insurance company you may be surprised. It seems that along with every other expense we have to deal with on a regular basis, car insurance joins the ranks with increasing premiums every year. Check out the following tips that may save you some money on your next policy.
Know the mandatory insurance minimums required by drivers in the state of Vermont. You must carry some form of liability but knowing what other levels are available as what the additional coverage options – comprehensive, collision, uninsured motorist – cover in detail. Knowing ahead of time exactly what your insurance needs are will help you get the best rate without paying for coverage you really don’t need.
Once you know what your car insurance needs are you can start getting as many quotes as you can. Premiums are going to vary from company to company for the same coverage so it is important to find one that has the best rates and provides good customer service.
Take your time and shop around. You can even save time by submitting your information online. There are sites that will take your information and put them into their database and will match you up with the companies that are going to give you the best coverage for your money. This works best when you know ahead of time what coverage you need and what you don’t. 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 thing like raising your deductible can actually save you a few bucks without affecting your coverage. Adjusting your deductible can lower your rate considerable. If you raise your out-of-pocket deductible from $250 to $500 you could realize savings up to 10 percent annually. If you are paying $1,200 per year you could save around $120 just with that one modification.
Many older vehicles that aren’t worth more than $2,000 may be costing you money. If you have an older vehicle you may want to reconsider keeping the collision coverage on it. 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.
Combine all of your insurance policies under one roof. Insurance companies give discounts to their customers who use them for all of their insurance needs – car, life, homeowners, rental and health.
There are so many other discounts available. Ask your insurance agent if they give any discounts for low mileage, safe driving, being a good student, attending defensive driving classes or even for having a safer car. Newer cars have factory installed air bags and some newer ones are installing passenger side air bags. Keyless entry and pre-installed alarm systems also help cut down on liability and will result in lower rates.