We all wish to make savings in our life. Cars included. Myriad insurance companies offer varying premium rates depending on their policy coverage. So it is important that you get the best Insurance package for your car.
These tips will help you how to manage your Car Insurance budget within limits.
Making Comparisons: The costs of at least three to six insurance companies will give you a fair idea of the costs involved with different policies. Seek the advise of colleagues, friends, relatives. Besides from costs involved, the track record of the companies matter a lot.
The standing, strength and financial position of the company need to be looked into. Request for higher deductibles – It’s the amount one pays prior to making any claim for the accident. The complete coverage and collision is sold along with the deductibles. The more the deductibles the less the premium rate. By increasing the deductible say from $300 to $600 will invariable reduce the cost to 20 to 35 percent.
Old Cars – Drop Collision and Comprehensive Coverage – It is better to drop the collision and comprehensive coverage if the car is worth less than 10 times your premium in the current market. One way to reduce the cost is buying the auto coverage from the existing insurance and insurance coverage from existing carrier.
No to Double Health Coverage – Avoid health coverage with auto policy provided you have enough health insurance. This is one way of reducing costs.
A Good Credit Card Record – This has multiple benefits – helps to file claims if the credit score is less. A good credit score will also help in settling the accident with the help of the company.
Low Profile Car Discount – Fancy and trendy cars with high maintenance costs higher rate and attract thieves as well. A low budget, low profile car will help a lot with insurer discounts to boost.
Mileage Counts – More discounts can be obtained by driving less than the national average mileage recorded per year.
Avoid double health coverage- If you think that you have enough health insurance, and then avoid health coverage with your auto policy. This will help you to reduce the cost.
Maintain a good credit record- Insurers are using the credit history while determining the price of insurance. Statistically, the lower your credit score, the more you are likely to file claims. A person with a good credit score is more likely to settle the accident without the support of the company. Try to maintain a good credit record.
Discounts with low profile car- Cars that are expensive to repair or attractive to thieves will have a higher rate. Consider buying a low profile or average car as it your insurer might come up with discounts for such a car.
Low Mileage Pays – Obtain some discount on premiums by driving less than the national average mileage recorded per year.
All about Group Discount – It’s all about a group taking insurance plan collectively. Be it an employer, business group or associations. Check for such plans.
Safety Discount – Discounts are also offered if the car is fitted with safety items like air bag, automatic seat belts, anti lock brakes. So make safety pay for you.