How to decrease your auto insurance premium
It is very easy to give in to the temptation to go for minimum coverage or not renew your Auto Insurance to save money. But letting go of insurance will eventually cost you a lot more than the premium would have. It is a necessary evil but letting go of protection is not an option. As it is, driving without insurance is prohibited in most States.
Here are some tips to reduce your Auto Insurance rates without sacrificing protection.
Compare quotes from insurance Tech companies:
Each Insurance Company has had different experiences with driving reports, the age of the driver, credit score, an area you live in, etc. This is why you see a vast difference in rates for the same coverages. Hence, it is always advisable to get a minimum of 5 quotes and compare them apples to apples. Make sure you have the same coverage in all the quotes. This way, you make an informed decision.
Find the car that is cheaper to insure:
Insurance rates are based on Automotive value, safety scores, and chances of car theft; look for a car that does not have very luxurious features and extras so the insurance premium can be lower. It is not advisable to buy an expensive car and not be able to afford adequate insurance. If you do research, you will be able to find a car that is cheaper to insure.
Look for rebate and combo policies:
Most insurance companies offer discounts, premium reductions, and combo coverages that significantly reduce premiums. For example, a student with good grades gets a discount, or if you have a good driving record, you get a premium discount. Bundle your home and auto policies, and you could get a discount. Also insuring all your vehicles with the same Insurance Company would get you a discount. So do your research and ask the CompareAquote agent to look at all the discount options.
Increasing deductibles:
There is a direct relationship between fire deductible and lower premiums. Remember that deductible is the amount you would have to pay before the insurance coverage kicks in. Thus, you should always ensure you have funds available to pay the deductible amount. There are very few situations where you would be able to get your deductible waived off. For example, if your deductible is $1000, you would have to pay $1000 before the Insurance Company would pay for damages or repairs.
Good Credit score:
A credit score is taken into consideration by insurance companies when calculating your premiums. A good credit score would help reduce your premiums; if you pay your credit card bills, home loan, or any other payments that affect your credit on time, your credit score would be high and would help lower your insurance premiums.
Drive fewer miles:
Cutting back on your miles-driven video sexy would qualify you for a low mileage discount. You can cut down your mileage by carpooling, taking public transport, or when you can work from home.
Primarily you want Auto Insurance coverage to protect you. In case you are in an accident where you are at fault, you might be liable to pay for injuries caused; this could be a huge financial burden if you do not have adequate coverage. As the saying goes, if you cant buy adequate insurance, then do not buy the car. Get the coverage you require to have peace of mind. Call CompareAquote.com and get the peace of mind you need.
