Saving On Auto Insurance Costs
Insurance costs continue to climb with no end in sight. Health insurance is essentially not affordable for more and more people everyday. Yet we continue to try and afford what we cannot in the name of security and protection of property and lives. Nothing wrong with that, but how can you save on premiums, when insurance companies have no interest in lowering the cost of their products. Lets look at auto insurance and see what we can do.
You Got To Shop Around
For some reason many people get attached and really loyal to their car insurance companies. All it really takes for that loyalty to gain ground is one claim. I personally was paid off from a claim from State Farm 40 years ago and still have my car insurance with State Farm. The difference is I shop the policy around once a year and so should you. Changes made to driving habits, your driving record all can produce savings at premium time. It is possible you will stay with the same company, but a little competitive shopping never hurt anyone and you may be able to negotiate a deal with your present company.
Adjust Coverage’s
As each day passes your car like us gets a little older. Your car depreciates and the need for collision and comprehensive coverage’s should be considered. A good rule of thumb is when the car insurance premium exceeds 10% of the cars value, perhaps you should consider dropping it.
Raise Your Deductibles
Much has been said and much has been written about saving money by raising your deductibles. There is a reason for that. It works and saves you money. Changing your deductible from $200 to $500.00 may save you 30 % in that collision coverage. That better than 15 minutes at Geico.
Discounts, Are You Using Them?
All car insurance companies discount their products. Safety devices, clean driving records , multiple car discounts, and there are more. Take advantage of these savings. Your credit record can even save you money. If you are one of those with spotless credit make it pay for you.
All of these tips will require effort on your part to implement them. In the end it is worth the savings you will realize.
Written by on June 25th, 2009 with no comments.
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