The continuing economic recession is forcing many Americans to cut back on expenses, including car insurance. While many policyholders have increased their deductibles to lower premiums, some have chosen not to renew their policies at all. For experts, this represents a dramatic shift in consumer mentality. They explain that despite the economic troubles, drivers should never risk fines, or spend entire fortunes on liability claims if the inevitable happens.
To give consumers a better chance at coping with the tough economic situation, auto insurance providers and industry experts have teamed up to present drivers with simple suggestions they say could help save hundreds of dollars and avoid potential problems in the future.
For starters, analysts say, consumers can combine their various insurance policies. Experts explain that bundling life, home, and auto insurance with the same company, consumers can instantly save money. They add that providers give special rates and discounts for policyholders who prefer to take multiple policies.
Some professionals can also avail of special discounts, specialists say. Depending on the nature of a consumer’s occupation, providers can offer special rates and premiums. Experts say that companies take notice of a driver’s profession to assess if they will be high-risk motorists. Statistically speaking, certain professionals are less likely to be involved in car accidents. Consumers can use this to their advantage and demand for discounts or special premiums.
Experts also say that motorists should keep their driving records clean and spotless. Most, if not all providers analyze a motorist’s record to determine if they represent a high risk for involvement in vehicular accidents. An irresponsible driver would mean a higher chance for an accident, which in turn, means that providers have to pay out claims. A safe and cautious driver can avail of special premiums provided that their driving records are relatively spotless.
Even carpooling can result in lower insurance costs. Analysts say that providers give special attention to policyholders that carpool on a regular basis. This would mean fewer car trips and a lower risk of danger. Regular driving can mean exposure to more dangers and a higher risk of accidents.
Added safety features and anti-theft devices can also mean lower premiums, experts contend. Insurers look kindly on policyholders who take the effort in ensuring that their vehicles are not stolen or broken into. Safety devices like multiple airbags and child restraining seats can also prevent injuries in the event of an accident.