Money Saving Auto Insurance Tips

When looking to maintain lowered insurance rates on your auto, it’s important to remember that sitting on your laurels is not the most prudent choice. Consumer who shop around get the best prices, and for those with an insurance policy already in their glove compartment, this is even truer. By shopping around, you have the exact information in your hand that competitors to your current policy need in order to offer you a better deal. Take a moment to grab your policy and read on. By following these tips, you are sure to decrease your current rates without losing your benefits- in fact, you might well find yourself with better coverage for less money.

Driving Record

Your driving record is a consistent factor in what you rates for auto insurance will be, and with good reason. An accident free record, or one that shows a long term span of good habits, is one way to prove your reliability and insurability. A clean record makes you a dream policy holder because you won’t be likely to actually cash in on your policy. For this, insurance companies offer reduced rates in order to keep you as a customer. However, if you’ve had your policy for a long time, it’s up to you to bring that information to your insurance company’s attention. These are not charities, but for profit businesses. They aren’t looking out for your welfare, but their own bottom line. Do your research, and let them know you deserve a better rate or you will take your business elsewhere.

Multi Policy Discount

Most often overlooked is the standard 20-35% discount many insurance company’s offer their clients if they have more than one policy with them. It may sound counter intuitive to have all of your coverage in one proverbial basket, but by doing so you reduce your rates considerably, have only one monthly bill to contend with, and will have the satisfaction of having a single destination if you have to make a claim. Multi policies also work for other members in your family, so if your children sign on, your discount will be even deeper.

Communicate with your Agent

Keep in mind that an insurance company is a for-profit business, and they want your money. If you don’t file a claim due to good records, it’s all profit for them. Check in with your agent every 6 months or so and let them know any changes to your record. This will keep them appraised and will let you have the upper hand when you start to shop around for better rates.

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Choosing the Right Vehicle for Lower Rates

Being comfortable in your car is a primary concern, but balancing your monthly budget with your ego should not be a major concern when the bills come due. In order to reduce your car insurance rates, a few simple elements should be considered next time you purchase a vehicle. Not only the model of the car, but also things like gas mileage, color, engine size, and where you park it each night versus it’s desirability for being stolen. Take these following tips into account before making a new purchase, and keep your car insurance rates down

Model

Choosing a high performance sports car with a V8 under the hood is one of the surest ways to drive your car insurance premiums through the roof. Instead, looks for a more subtle sporty model, perhaps a four door instead of a two door coup. Check Car and Driver magazine for a list of the best performing, low risk vehicles, and be sure to keep the nitro package off your financing paperwork.

Color Means Money

It’s not that the color red makes a car go faster, but insurance adjusters have learned that drivers who drive a red vehicle have the highest rate of being pulled over for moving violations. It could be that you’re driving an economy Fiat or a station wagon- it simply doesn’t matter. The fact that you’ve chosen a red color means you have a tendency, as far as the adjusters are concerned, for speeds over the posted limit. Stick your color choices to black, white, or blue to keep your insurance rates low.

Additional Factors

Performance indicators aside, in order to keep your car insurance rates low, choose vehicles with good gas mileage. This is an indication to your insurance company that you take consideration in your choices and want to get the best value out of your vehicle. It also demonstrates responsibility and reliability. Drivers who actively seek lower emission and low gas mileage vehicles are less likely to get into accidents or pull a ticker for a speeding violation.
Also, be wary of where you park you vehicle at night. It could be that your insurance adjuster feels you might be parking in a neighborhood with a high risk of theft. If so, look to have your vehicle placed in a garage when idle, or simply move to a different area. The focus is to reduce your rates, and this most surely will help do the trick.

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Simple Ways to Lower Car Insurance Premiums

In most states, it is a requirement that licensed drivers have some form of coverage for their vehicles, and this means paying premiums each month just in case. But many simply don’t do the investigative work that can decrease their monthly bills, and by doing a few, simple things, they can have lower car insurance premiums. Auto insurance can be expensive, and keeping costs down will make for a healthier bottom line as far as household budgets are concerned, and perhaps even allow for greater coverage in case of accident.

Lower Your Car Insurance Premiums

Start by having a comfortable knowledge of your vehicle. Read the owner’s manual and determine what size engine it has, how old it is, and what safety features are part and parcel to your particular model. If your car is a four cylinder model of a more common six or eight, be sure to let your auto insurance company know when calculating your monthly premiums. Higher powered vehicles carry larger costs due to risk and rate of accident, and you shouldn’t have to pay for this spread if you don’t have to.
If your vehicle is an older model, make sure your insurance agent knows to lower your car insurance rates as older cars definitely garner lower monthly costs for drivers. This is from a variety of factors, but essentially it shows that your vehicle is a solid machine with few issues. It indicates less stress on the mechanics and suspension, making it an all around better bet for insurance companies to provide coverage for

Follow Your Maintenance Plan

When speaking with your insurance agent, have a reliable and complete record of required maintenance records to demonstrate that you have a keen eye for maintaining a vehicle. By performing regularly scheduled maintenance, you will have demonstrated that you are keeping a well run vehicle, and this will lower your car insurance premiums relative to the work you have put into it.

Don’t Forget the Odd Little Extras

When discussing rates with your insurance agent, let them know you have an aftermarket security system installed, if in fact you do, and let them know you keep it in a locked garage at night if that’s the case as well. This simple act lowers the risk of theft considerably, and your premiums should reflect this as well.

There are many ways you can lower your car insurance premiums, and one of the best ways is also the simplest- ask your insurance agent for advice when picking out a policy. They are there to help, and they want a customer for the long haul. Making you happy is how they accomplish that goal.

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