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Getting the Best Deal on Auto Insurance
by : John Edwards
Let your fingers do the walking... Remember that Yellow Pages Ad
Campaign? Excellent advice if you're shopping for auto
insurance. Shop around and do it yearly. Don't just keep paying
the invoice over and over without comparison shopping. Below are
a few suggestions to help you get the best deal available on
your automobile insurance policy.
Insurance agents really have a lot of leeway. They can price
match and they can offer many discounts. There are also many
decisions you can make about your policy that will save you a
bundle. For example, if you change your deductible on your
collision from a $50 deductible to a $1000 deductible, you're
inline for a huge premium savings. If you don't think you could
come up with $1000 out of pocket, then change it to a $500
deductible; you'll still save a sizable amount on your annual
premium payment.
You can also get more of a savings if you change your
comprehensive deductible. Many people needlessly carry full
coverage on their older vehicle. They originally purchased the
vehicle new, paid for full coverage and to this day, continue to
pay the same high rate. Their ten year old vehicle may be worth
$1000 or less, yet they continue to pay $250-$450 every six
months (total $500 to $900 dollars a year) to keep full coverage
on their old vehicle.
However, if they have an accident and totaled their vehicle, the
insurance company will only pay them the wholesale value of the
vehicle. The amount they would receive could be $1000 or less. A
vehicle that old just needs the insurance that protects the
other person in case of an accident.
Another method to save more on your insurance is by combining
your vehicles and other insurance together to get you additional
savings. All insurance companies offer a multi-car discount (if
yours doesn't, it's time to switch companies). Further, many
will discount more if you have your homeowners or renters policy
with them.
There are a few other discounts that you may not be taking
advantage of. It seems obvious, but make sure you are getting
the correct rate for your age. There are discounts for various
ages than can save you lots of money. Check with your agent on
this one. Also alarm systems on your vehicle are usually good
for a discount. Additionally, anti-lock brakes and air bags can
also help lower your premiums.
Don't just keep paying the invoice when it comes in. Your
insurance bill should be an automatic trigger for you to make a
few phone calls to see if you can save even more money on your
auto insurance premiums.
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