The odds are in your favor if you want to save money on your auto insurance. All it requires is the time and the effort to seek out the right policy for you at the right price. You have started off in the best place. Sites like this with a good search engine allow you to get multiple quotes from all the main insurance companies offering policies in your state. Gone are the days when you were tied to the telephone for hours, talking to agents or insurance companies directly. Now you can get comparative quotes from multiple insurers in just a few minutes.
What are the tips for saving money?
Always keep an open mind and be prepared to change insurance companies if this is going to save you money. Although you may pick up a renewal bonus if you stay with your current insurer, new companies will often offer you a better welcome bonus to get your business. This means talking to the companies to ensure you get all the discounts available. Too often, the internet quotes forget about all the different ways in which you can save money. Discussing your needs with a sales agent usually brings a few more savings to seal the deal.
Who are you?
Insurers produce risk profiles depending on who you are and the quality of your driving record. There are a few simple truths. Young and inexperienced drivers pay more than older drivers with a clean driving record. Statistically, young men are more likely to have an accident so they pay the most. Middle-aged women driving only a few miles in a family vehicle pay the least.
What are the rules?
To save money:
- always buy underpowered cars with safety features added, e.g. antilock brakes, airbags, etc., and anti-theft measures installed;
- keep a clean driving record;
- unless you have no choice because of where you live, drive less and avoid long commuting journeys – the more miles you drive, the greater the risk of accidents or tickets;
- some jobs and professions qualify for discounts because the statistics show fewer accidents – ask your strongployer, union, trade association or other representative body to see whether there are group terms;
- some insurance companies offer special terms for different groups of drivers, e.g. for senior citizens; and
- look to make a package with all your vehicles insured with the same company and, perhaps, adding your home insurance as well.
Are you prepared to self-insure?
One of the simplest ways to pay less as the prstrongium is to pay more if you have a claim. This means taking a higher deductible. If you increase the deductible from $500 to $1,000 you can often save 20% and more depending on the insurance company. But be careful. If you have a bad run of luck on the road and have several accidents close together, can you afford to pay the deducted amounts on each claim? Always work out how much you can afford to pay should the worst happen. If you drive an older car that might not be economical to repair, consider dropping collision coverage.