With the ever increasing costs of insuring your vehicle is there anything at all that you can do to save money on your car insurance? There are a number of things that you can do that will result in lower premiums and more money in your pocket. Here are some great tips that could save you some bucks on your next policy.
You need to know what liability and what levels you are required to carry to drive in your state. In West Virginia, you must carry bodily injury liability and property damage liability. 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.
Now you can start shopping around for the best prices. As long as 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.
The internet can cut your time in half when you are ready to submit your information to insurance companies for coverage quotes. 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.
Raising your deductible can lower your rate considerably. 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 that means around $120 less for your insurance with just that one modification.
Spending money on collision coverage for older vehicles that are valued at less than $2,000 could be a waste of money. But if you still owe money on your vehicle you must keep your collision coverage in order to protect your lenders investment.
Putting all of your insurance policies under one roof, or bundling, can save you money in the long run as well as make it easier to keep track of all of your policies. Insurance companies give discounts to their customers who use them for just about all of their insurance needs – car, life, homeowners, rental and health.
Check with your insurance agent to see if they give discounts for keeping your mileage low, being a safe driving, being a good student, attending defensive driving classes or even for having a safer car.
If in doubt, check with insurance agent to see 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.
