With all the other expenses in life the last thing you want to pay more for is auto insurance. Insurance companies can raise their rates with no warning and it might not have anything to do with how good of a driver you are or how old you are. Don’t get me wrong, sex, age, driving record and other factors play a role it determining your car insurance premium, but sometimes companies simply need to raise their prices to keep solvent. Trust me, you would rather have the company raise the cost of insurance and stay financial stable then keep the prices the same and go bankrupt or sell off.
Since we know that insurance companies can increase prices at anytime, you have to keep that in mind when we talk about ways you can lower your premium. You can do everything correct to decrease your insurance price, but still not see your premium go down. This could be due to many reasons and sometimes it is in the insurance company hands and there is nothing you can do. Enough with the downer news. Let’s review the ways you could possible save money on car insurance.
Safe driving courses. This is a simple but somewhat inconvenient way of lowering your insurance premium or qualifying for insurance company discounts. I say this is inconvenient because you have to go take the course, but usually you can do this on a weekend and get it over with. If you are trying to stretch pennies it could be an easy way to save some money on your insurance policy.
Raising your deductible. This tactic should be looked at as a last resort to saving money on car insurance. This is a pretty safe way to lower your premium, meaning it is almost a guarantee that your insurance premium will decrease when you raise your deductibles. There are two deductible to look at. Your comprehensive and your collision. You do not want to increase your deductible unless you need to. By doing this you will increase the amount you will have to pay out when you have to file a claim (accident).
Combine your auto and home. If you own a home and have home insurance it is wise to have both your auto and home policy with one company. You hear tv ads all of the time stating how much you can save if you combine. It does not matter who you combine these policies with because most companies will provide a discount in this case.
If you apply all four of these tactics you can be sure to have a better chance of getting cheaper insurance premiums. I hope you all will find a good insurance company that provides you with great service.