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evan
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Posts: 1237
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 Posted: Tue Sep 20, 2005 5:39 am Post subject: Tips to lower the cost of auto insurance
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Tips to lower your auto insurance costs:
Shop Around- Compare the costs by shopping around at
least four to five insurance companies and comparing the quotes.
Take help of your friends, relatives, yellow pages
in this regard. Your insurance company should be of fair price
and with excellent services. Check the financial ratings of
the companies too as it define the strength and stability of
the company.
Ask for higher deductibles- Deductible is the amount of money
that you pay before making any claim for an accident.
Higher the deductibles lower will be the premium
rate. Increasing the deductible from $200 to $500 may reduce
the cost by 15 to 30 percent.
Drop collision and comprehensive Coverage on older cars- It
is advisable to drop the collision and comprehensive coverage
on your older car which is less than $1000 at cost as it
will not be cost effective.
Buy auto coverage from your existing insurer- This may help
you to reduce the cost. Sometimes low rates are available for
the longtime customers. But it makes sense to shop around and
ask whether the discount is available or not.
Avoid double health coverage- If you think that you have enough
health insurance, then avoid another health coverage with your
auto policy. This will help you to reduce the cost.
Maintain a good credit record- Insurers are using the credit
history while determining the price of insurance. Statistically,
the lower your credit score, the more you are likely to file
claims. A person with a good credit score is more likely to
settle the accident without making a claim.
Obviously the cost is likely to be low for such customers.
Discounts with low profile car- Before you buy a car consider
the factors which can push the cost of insurance up.
Cars that are expensive to repair, and attractive
to thieves, have higher insurance costs. This is true for sports
cars and other high-performance vehicles. It will be a good
idea to take some advice from the insurer regarding the coverage
of the car that you are going to buy.
Low mileage discount- You can obtain some
discount on premiums by driving less than the national
average mileage level per year.
Consult about group discount- Sometimes insurers provide discount
if you insure through group plans of the employing company,
or business groups, or other associations. Check if the options
are suitable for you.
Seek car safety discount- Keep air bag, anti-lock brakes,
anti-theft devices, automatic seat belt in your car, and
bargain for discounts on grounds of safety.
Investigate about other discounts- Some insurance companies offer
discounts for
- more than one car,
- drivers over 50 years of age,
- driver training courses,
- good grades for students.
Check out these options with your provider. |
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