Whatever you own or are thinking of owning, you have to insure it. And there are things the car insurance companies simply aren't telling you, so I am. Here are the tip tips to
save money on your auto insurance:
Older car? Drop collision. If your car is seven or eight years old or worth less than $2,500, think about taking the risk and dropping the comprehensive and collision from your insurance quote. Chances are your deductible is closing in on the value of your car anyway, and a major collision will send the car to the junk dealer and you to the dealership.
Buy your home insurance and auto insurance with different companies. So many things are being bundled these days -- from cell phones to Internet and cable TV - you would think that having your home and auto insurance with the same company would save money, but it might actually be costing you money. Do your research. You could discover that having separate policies will be cheaper.
Minimum liability is probably not enough. You may think you can only afford the minimum coverage required by law. But, there's a good chance those minimums won't come close to covering the costs of a serious accident, which could mean you could be paying a lot more than you bargained for if it's your fault and you don't live in a no-fault state.
Shop around for lower rates: A State Farm agent only
quotes State Farm. Same for Allstate, even Geico, whose super-cute gecko with the British accent I have an absolute crush on. So what are the chances their agent will tell you to shop around for the best deal? Even independent agents only represent a few auto insurers. Shopping online allows you to fine-tune the deductibles and coverage you want and then compare auto insurance rates side-by-side.
Go green to keep some green: Look for auto insurance quotes from companies that offer "green" discounts for driving a hybrid, choosing paperless statements or electronic payment plans. Even signing your policy with an e-signature can help cut your premium costs.
Consider paying that claim yourself: If you've backed into the garage, think twice about asking your company to repair it. Besides the possibility your rates will go up at renewal, that small claim could jump-start your rates next time you shop. An accident can only affect your rates for three years, but many companies look back five or seven years when deciding if they want to offer you a quote. Do you really want to increase your current insurance costs for being dumb and careless in your own garage five years ago?
Don't buy that turbo convertible or mid-life crisis exotic sportscar: All vehicles are not created equal. Small or large, old or new, the type of car you drive affects your auto insurance rate, which are based on ...
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Tags: Auto Insurance News
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on Sunday, June 14th, 2009 at 1:47 pm and is filed under News.
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