Cheapest Car Insurance
Even though everybody would like cheap car insurance, people tend to stay with the insurance company they are with rather than shop around for the lowest price for car insurance. This can cost you hundreds of dollars a year.
To find the cheapest car insurance, best is to search online. You could also call, but searching online is more efficient and will let you research prices even after the normal business hours of a given insurance company branch.
Shop Around
You should shop around for car insurance coverage and get quotes on premiums from several insurance companies. This way you will know for certain you are getting the lowest price for auto insurance. Cheapest car insurance should not mean little or no insurance, or bad insurance. Ask how insurance claims are approved and processed, and how fast they're paid.
Choose Yearly Policies
A yearly policy can extend your savings on the car insurance. Purchasing a yearly policy means that you lock in the rate for a full year and you do not get a surprise raise in the premiums.
Check for Discounts
Insurance companies like market share, and in order to increase or maintain their market share many companies offer discounts. You can get a discount if you have a good driving record. There may be discounts available for antitheft or other safety devices on the car. Most companies also offer low mileage discounts.
Ask for a No Claims Bonus
A "no claims" bonus can save you good money on your car insurance. A no claims bonus is a reduction on your premium for every year that you do not file a claim. Generally, no claims bonuses max out after five years.
Select Higher Insurance Deductible
A deductible is the amount you pay first before your insurer pays the remaining balance. Often people select lower deductibles, so when they have to submit a claim, their out-of-pocket expenses are minimal. However, the higher your collision and comprehensive deductible, the lower your car insurance premium. The savings can be significant - hundreds of dollars off your insurance premium.
Lower Coverage on Old Vehicles
If your car is old, you may want to consider dropping the collision or comprehensive coverage on your policy. Weigh the cost of the collision and/or comprehensive against the value of your car and your deductibles. For example, if you had a 10-year-old car that's worth about $1000, and your deductible was $1000, the coverage is not actually going to help you. This is a great way to get cheap car insurance.
Defensive Driving Course
Some companies give good discounts on car insurance for attending defensive driving courses. Check with your state insurance commissioner, insurance company or when obtaining an online insurance quote to see if you could qualify and to find out where to take courses.
Local insurance brokers could also find cheapest car insurance by finding companies that are a good match to your circumstances.
|
