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8 Nov 2007
How to Save On Auto-Insurance
Buying a car, covering sales tax, and paying yearly property taxes already costs thousands of dollars. In spite of these tremendous costs, new car buyers often discover that paying auto-insurance every month is one of the most expensive expenditures of owning a car. Indeed, auto-insurance can cost up to two to three thousand dollars in a single year for some individuals. Therefore, we have compiled some tips that will help you save big on auto-insurance.
1. Shop Around
Different companies offer different prices, so it is important to compare the rates and policies of various companies. Get quotes from many companies, compare prices and policies online, and even consider getting recommendations from friends and family members. Use as many avenues as possible to find out what company works best for you and what insurance plan is best for you and your family. Also, since buying any kind of insurance from a company that is in debt is a bad idea, be sure to research the financial health of your company. Visit websites, such as Standard and Poors and other business websites to find out how financially stable the potential company is. Finally, see if your state auto-insurance department provides comparisons of different companies. Such information is usually objective, and therefore pretty helpful.
2. Maintain a solid credit rating
We all know that having a good credit rating is one of the most important things that you can do for yourself, but most do not know that it is also important when it comes to auto-insurance. Indeed, insurance companies are now using credit ratings when they price individual auto-insurance plans. So be sure to pay your bills on time, abstain from getting loans that you do not need, and check your credit rating often. If you do, you could save big on auto-insurance.
3. Ask for a higher deductible
I know it sounds counter-intuitive, but customers who have higher deductibles usually pay lower insurance rates. The theory is that customers who pay higher deductibles are those who are less likely to get into auto crashes. So be sure to call your insurance company and get as much information about deductibles as possible.
4. Your Car could be a Problem
Insurance companies will not tell you this, but the model of your car could be costing you big time. When insurance companies assess the risk of a car model, they use a 1-27 point scale, and the greater the number, the greater your premium will be. So when you are shopping for cars, select a model that is reliable and fares well in auto crashes.
5. Find Ways to Save on Insurance
Do you have a high GPA? Are you a good student and good member of society? Do you buy your car insurance from the same people that you buy your home insurance? Are you going to retire? Have you been with the same company for a long time? If you answered yes to any of these questions, then you are well on your way to saving big on auto-insurance.
There are countless other discounts and other ways to get the cheapest car insurance. We hope you find this information helpful because we understand that times are tough.
8 Nov 2007
How to Save On Auto-Insurance
Buying a car, covering sales tax, and paying yearly property taxes already costs thousands of dollars. In spite of these tremendous costs, new car buyers often discover that paying auto-insurance every month is one of the most expensive expenditures of owning a car. Indeed, auto-insurance can cost up to two to three thousand dollars in a single year for some individuals. Therefore, we have compiled some tips that will help you save big on auto-insurance.
1. Shop Around
Different companies offer different prices, so it is important to compare the rates and policies of various companies. Get quotes from many companies, compare prices and policies online, and even consider getting recommendations from friends and family members. Use as many avenues as possible to find out what company works best for you and what insurance plan is best for you and your family. Also, since buying any kind of insurance from a company that is in debt is a bad idea, be sure to research the financial health of your company. Visit websites, such as Standard and Poors and other business websites to find out how financially stable the potential company is. Finally, see if your state auto-insurance department provides comparisons of different companies. Such information is usually objective, and therefore pretty helpful.
2. Maintain a solid credit rating
We all know that having a good credit rating is one of the most important things that you can do for yourself, but most do not know that it is also important when it comes to auto-insurance. Indeed, insurance companies are now using credit ratings when they price individual auto-insurance plans. So be sure to pay your bills on time, abstain from getting loans that you do not need, and check your credit rating often. If you do, you could save big on auto-insurance.
3. Ask for a higher deductible
I know it sounds counter-intuitive, but customers who have higher deductibles usually pay lower insurance rates. The theory is that customers who pay higher deductibles are those who are less likely to get into auto crashes. So be sure to call your insurance company and get as much information about deductibles as possible.
4. Your Car could be a Problem
Insurance companies will not tell you this, but the model of your car could be costing you big time. When insurance companies assess the risk of a car model, they use a 1-27 point scale, and the greater the number, the greater your premium will be. So when you are shopping for cars, select a model that is reliable and fares well in auto crashes.
5. Find Ways to Save on Insurance
Do you have a high GPA? Are you a good student and good member of society? Do you buy your car insurance from the same people that you buy your home insurance? Are you going to retire? Have you been with the same company for a long time? If you answered yes to any of these questions, then you are well on your way to saving big on auto-insurance.
There are countless other discounts and other ways to get the cheapest car insurance. We hope you find this information helpful because we understand that times are tough.
