car insurance expenses – Having a solid driving record is one of the best strategies to keep your vehicle insurance premiums low.
Insurance Departments and Websites in Each State
Having a solid driving record is one of the best strategies to keep your vehicle insurance premiums low.
Here’s a list of more things you can do to help you accomplish your goal.
If you get two or more types of insurance, many providers may give you a discount. If you have more than one automobile insured with the same insurer, you may be eligible for a discount. Some companies offer discounts to senior citizens. However, searching different websites is still a good idea. When compared to multiple policy discounts, you may be able to save money by shopping with other insurance carriers.
Look for information on several websites.
Prices range from one company to the next, so it’s worth comparing prices from at least three different websites. You can contact the companies directly or look up information on the Internet. Your state insurance department (state insurance department phone numbers and websites can be found at state insurance departments ) may also be able to provide you with a price comparison of the main insurers.
You buy insurance to protect your finances and offer yourself piece of mind, so choosing a financially sound firm is critical. Check the financial health of insurers by reviewing consumer publications and consulting reports from specialized companies such as AM Best and Standard & Poor’s.
Obtain quotes from a variety of insurers. Some insurers sell through their own agents, who are known by the same name as the insurer. Others sell through independent agents who represent a variety of insurance companies. Others, on the other hand, do not use agents since they sell directly to consumers over the phone or through the Internet.
Choose a representative or agent who takes the time to answer all of your inquiries. To compare pricing from other insurers for the same coverage, follow the checklist at the back of this leaflet.
Compare insurance costs before purchasing a vehicle.
Inquire about insurance costs before purchasing a new or used car. The cost of the car, the cost of repairs, the overall safety record, and the chance of being stolen all factor into auto insurance costs. Lights that turn on automatically during the day and anti-theft devices are examples of this. You may acquire information from the Institute for Insurance and Highway Safety to help you pick which car to buy.
Inquire about deductibles that are higher.
The deductible is the amount you pay out of pocket before your insurance policy kicks in. You can save a lot of money on insurance by asking for higher deductibles. Raising your deductible from $200 to $500, for example, could result in a 15 to 30% reduction in collision and comprehensive damage coverage. You might save 40% or more if you choose a $1,000 deductible. Before you buy a higher deductible, make sure you have enough money set aside to cover it and will be able to pay it if you ever need to file a claim.
Reduce the amount of coverage for older vehicles.
You may get car valuations from car dealers and banks, or you can look them up online at Kelley’s Blue Book. Make sure your insurance needs haven’t altered when you renew your policy.
Purchase both auto and home insurance from the same company.
Keep your credit score up to date.
Having a good credit history can help you save money on insurance. Insurers are increasingly using credit information to quote auto coverage every day. Pay your bills on time, don’t take out more credit than you need, and keep your balances as low as possible to maintain your credit score. Regularly review your credit history and repair any problems as soon as possible to ensure that it remains accurate and up to date.
Benefit from Low-Mileage Discounts
Drivers who drive less than the average annual mileage may be eligible for discounts from some companies. These reductions also apply to drivers who travel to work in a group in the same vehicle ( car pool ).
Inquire about group insurance options.
Drivers who purchase insurance through an employment group plan, professional groups, business or university alumni groups, or other similar organisations may qualify for savings. Check with your workplace and any organisations or clubs you’re a part of to see whether they provide this opportunity.
Look for other bargains.
Some insurance companies provide discounts to policyholders who have never been in an accident or have not had any traffic offenses for a specific number of years. If you take a defensive driving course, you may be eligible for a discount. You may also qualify for a lower rate if you have a young driver on the policy who is a good student, has completed a driver’s education course, or is attending an out-of-area college without a car.
Insurance Departments and Websites in Each State
Inquire about the following discounts* when doing a comparative search:
The deductible is $500.
Deductible of $1,000
More than one vehicle
In the last three years, there have been no accidents.
In the last three years, there have been no traffic offenses.
Courses for new drivers
Courses on defensive driving
annual mileage is low
Brakes that don’t lock up
During the day, automatic lights are turned on.
A good-graded student driver
With the same company, you can insure your home and your car.
Old customer (college students away from home)
*Not all of the discounts listed here are available in all states or through all insurers.
The final price, not the discounts, is the key to saving. Even if a company only offers a few discounts, the total price may be lower.
Call the National Insurance Consumer Helpline (NICH) at 1-800-942-4242 for more information.