Posts
1. Raise your deductible - A deductible is the amount your responsible to pay before your insurance coverage kicks in. The higher your deductible, the cheaper your annual premium. You may be able to save up to 10% by raising your deductible. There is risk involved when doing this. If you raise your deductible, make sure you have money in savings to cover it if something ever happens. I was going to raise my deductible from $500 to $1,000, but after hearing the difference in rates I kept the lower deductible. I didn't feel the savings were worth the risk.
2. Shop around - Generally the best time to do this is when your policy is up for renewal, especially if you find your premium has gone up. Premiums among insurance companies vary widely even for the same coverage on the same car. That's because different companies have different ways pricing coverages and determining rate increases. You can shop around online, over the phone, or through your own insurance agent.
3. Look into discounts - Many insurance companies now over discounts that can result in significant savings. Driving less than a certain number of miles per year may qualify you for a low mileage discount. If you have a clean driving record, you may get a safe driver discount. And if you have different types of insurance through the same company you could qualify for a multipolicy discount.
4. Downgrade your choice of car - Not the most popular choice, may get you the biggest savings. Sports cars and high performance vehicles will cost you a bundle in insurance costs. Also, if you own a new car, the more you're going to pay. Other cars may be considered safety risks. Certain suv's are prone to rollovers, which makes them more expensive to insure. So, when buying a car, consider purchasing a low risk or less expensive vehicle.
2. Shop around - Generally the best time to do this is when your policy is up for renewal, especially if you find your premium has gone up. Premiums among insurance companies vary widely even for the same coverage on the same car. That's because different companies have different ways pricing coverages and determining rate increases. You can shop around online, over the phone, or through your own insurance agent.
3. Look into discounts - Many insurance companies now over discounts that can result in significant savings. Driving less than a certain number of miles per year may qualify you for a low mileage discount. If you have a clean driving record, you may get a safe driver discount. And if you have different types of insurance through the same company you could qualify for a multipolicy discount.
4. Downgrade your choice of car - Not the most popular choice, may get you the biggest savings. Sports cars and high performance vehicles will cost you a bundle in insurance costs. Also, if you own a new car, the more you're going to pay. Other cars may be considered safety risks. Certain suv's are prone to rollovers, which makes them more expensive to insure. So, when buying a car, consider purchasing a low risk or less expensive vehicle.
2 comments:
Shopping around is a big one. Competition is so high between auto insurance companies. Last fall, we switched from Geico to Metlife and saved over $800 a year!
So all those, this is the money you could be saving with Geico is untrue? I never trusted that gecko.
Post a Comment