Especially in today’s tough economic times it is extremely important to find ways to reduce your expenses and allow your income to stretch as far as possible. When it comes time to shop for affordable auto insurance rates there are some pretty big savings that can be had by the prudent shopper. It is not unusual for a person to save 20% or more, and a business’s savings can be even more, by following these 4 time proven tips. We will look at the top ways in which you can pair down the cost of your auto insurance.
When was the last time you reviewed your current auto policy? A great way to get affordable auto insurance is by examining your current policy and looking for opportunities for cost reduction. The first place to look into is your deductible. If you haven’t had an accident in the last few years you will be able to save some money by raising your deductible. Also check which vehicles are covered on your policy and cancel your comprehensive collision on older models when possible. By scheduling yearly audits of your policies you can often find ways to save money and combined with other auto insurance tips will make your premium more affordable.
Combine Your Insurance
Another great method of saving on money on your insurance is to talk to your agent and consider combining your auto insurance with your homeowners or life insurance policy. Often insurance companies will provide sizeable discounts if they are covering you for multiple policies. By having one company insure these policies you are reducing the expense that they have to incur to underwrite your policies and often that savings will be passed on to you. Your agent or broker should always be the first place you turn when looking for discounts and cost cutting methods.
Ask About Discounts
Next you need to ask your agent if they have any discount that you may qualify for. Often agents will not bring these discounts to your attention unless you ask them about it. Many companies will offer more affordable auto insurance rates if you are a safe driver and have not been involved in an accident or had a traffic ticket in the last for years. You may also qualify for discounts based on the safety equipment installed on our car such as anti-lock brakes and airbags or if you belong to AAA. By discussing possible discounts with your broker you may uncover several discounts that you were not aware of.
When you finish talking with your agent and you have reduced your auto insurance premiums as low as you think you can, now it’s time to go shopping. Prices vary a great deal among companies and these prices can change within months so you need to always compare prices among several companies. You will want to check both online and offline when trying to get an affordable auto insurance policy. Remember to ask the same question you did when you talked to your agent and be sure you are comparing similar policies.
By following these four money saving tips, you can be sure that you will be able to find an affordable auto insurance policy that will not break the bank. Because insurance rates and your family and business life can change so frequently you need to review your insurance policies at least annual to make sure you are properly covered and to find ways to save money.