Everyone wants to save money these days and one of the ways that you can realize some savings are on your car insurance coverage. While you must keep the mandatory coverage that is required by your state, there are some tips that you can make use of when you purchase or renew your car insurance.
You should first acquaint yourself with the minimum amount of liability coverage that is required to drive in the state of Wyoming. Knowing what your base coverage is will help you to fill in the other areas where you feel you may need more or less coverage.
The best way to get the best rates for your car insurance is to check out as many reputable insurance carriers as you can. You will be surprised at how the rates may fluctuate for the same amount of coverage. But make sure that you are purchasing your policy through an insurer who is going to be there when you really need them. Check with your friends and family members to see which companies they use and get their feedback on how they process claims and how often they raise rates, etc.
You might also want to utilize one of the companies on the internet who obtain your insurance criteria and then match it up with a number of different companies and either hook you up with them or provide you with rate comparisons. As long as you already know what coverage you want this will work like a charm. If you would rather speak to an insurance agent in your area, he or she will be able to guide you to the right coverage for your needs.
One way right off the bat where you can save a few bucks is by raising your deductible. Just by increasing your out of pocket expenses from $250 to $500 will save you up to 10 percent a year. If your annual car insurance premium was previously $1,200 that translates to a savings of about $120 without changing your coverage.
Dropping your collision coverage on an older vehicle is another smart way to save some money without affecting the primary coverage that you need. If you car is not valued at more than $2,000 it may not be worth covering depending on how much your carrier will pay to replace it and how much your deductible is.
There are any number of discounts available through insurance companies who are eager to get your business. You should check to see if your agent or carrier gives consideration for keeping your mileage down each year, having a safer car, keeping your driving record clean and even for keeping your grades up and being a good student.
The more responsibility you take in protecting your investment, the less risk you present to an insurance company which means the less you will pay for your premiums. If you can install safety devices to protect your car from theft and or burglary, park your car inside a garage rather than on the street and even add a retrieval device in the event that your car was stolen, you are doing your part to help keep the cost of repair and replacement of your vehicle down.
One last thing that you can do to make sure you are getting the lowest rates is to check over your policy when you get it and update your information upon renewal. Things change from year to year –and sometimes sooner than that – so let your insurance agent know so your premiums reflect these changes.