Tips to lower the cost of auto insurance

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Tue Sep 20, 2005 5:39 am   Post subject: Tips to lower the cost of auto insurance  

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.
evan
Moderator
Leave a quick message

evan

Joined: 01 May 2005
Posts: 1274


179.40 Dollars($)

All times are GMT
Page 1 of 1


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.176 seconds.