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Tips to Decrease Auto Insurance Premiums

Apr 20, 2008
In many states, automobile insurance is not just an option but also, a requirement. Even if mandated by law and no longer a personal option, insurance is a good idea, but the expense can be overwhelming. Compare rates and plans available before picking the policy. Provider comparison is key to finding the appropriate policy for the least amount. Comparing as many quotes as possible will provide the best and most adequate coverage to meet your needs and driving style.

Insurance companies consider driving records, the records of additional drivers, frequency and distance of travel, and annual mileage when preparing policy quotes. The make and model of the vehicle will also influence the quote. The smart shopper can decrease costs by implementing a few simple tips.

Choose a vehicle that is not likely to be the target of car thieves -Some cars are a target for theft. You can cut down on your automobile insurance if you choose a car that is not one that is an obvious target. If you do have a car that is a target for theft, installing an anti-theft system can cut down on your automobile insurance premium costs considerably.

Raise the deductible - The deductible is the amount that you have to pay out of pocket in case of an accident or theft. The higher the deductible, the lower the insurance premium. Most insurance companies will quote a low deductible as if they are betting on you getting into an accident. Bet on not getting into an accident, raise the deductible and lower your monthly premium costs.

Pay yearly - If you pay for your insurance on a yearly basis, instead of monthly or quarterly, you can usually get a discount. There is usually a fee associated with paying for the automobile insurance on a monthly basis. Paying yearly can save you about $100 a year.

Good academic grades - Teenagers or college students covered under your policy can help lower premiums by maintaining good academic standing. Most companies offer a lower premium for students who earn a "B" average, or better, and provide added incentive for kids to succeed academically. This could decrease the premium by hundreds of dollars annually.

Get the safe driver discount- By not having any moving violations for a year, you should be eligible for a safe driver discount in some states. Some states consider you a safe driver if you have gone two years without any moving violations such as speeding tickets. By keeping a clean driving record, you can save hundreds of dollars on your car insurance.

Eliminate unnecessary collision coverage - If your car is only worth a few thousand dollars, consider eliminating collision coverage. When a car is stolen or is involved in an accident, the cost of replacement of the car will not be covered. This can be well worth it if the car is of low value. Know your liability and safety record when choosing to add collision coverage to the policy.
About the Author
Want to know more about automobile insurance? Check out www.aboutautomobileinsurance.com and learn more about Sports Car Insurance , antique car insurance and other related topics.
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