7 Easy Ways To Slash Your Auto Insurance Costs

by: Nandang S Nugraha | Total views: 106 | Word Count: 730 | View PDF | Print View

 by: Neil Stelling

The law requires you buy auto insurance. So if you must
get cover, how can you reduce costs ? Here's 7 easy ways to get the
best possible auto insurance deal.

* Multiple Quotes

Get multiple quotes - use the internet and call a few brokers. It's easy to gather some good comparison quotes.

Remember to get different types of quotes e.g one from a
direct-sell insurance company; another from an offline broker who keeps
a database of quotes; and a couple from the internet.

Cheapest might not mean best. Will they pay out if you
make a claim ? How financially secure ? How reputable ? Check around
with family and friends, and look for online reviews.

* Different type of car

Insurance costs vary depending on car type. Obviously,
that $100k sports model costs more to insure than your average
runabout. If you're planning to buy a new car, check insurance costs
before you buy. I once set my heart on a beautiful, high performance,
highly tuned Pontiac.

Luckily I checked the auto insurance before I bought
it, because I couldn't get insurance. Every broker, every insurance
company flat turned me down because I lived in a high car-crime area.
So I had to forget the car of my dreams until I moved up-town.

* Age and Value of Car

Maybe you're buying a used car ? Maybe your car saw
better days a few years ago, and now values much lower ? So why pay for
high-priced auto insurance ? In particular, do you still need fully
comprehensive coverage ?

A good rule of thumb multiplies insurance premium by
10, and compares that figure with your car value. So if you're quoted
$1000 premium and your car is worth less than $10,000 you may want to
think if comprehensive represents good value. If you drop collision
and/or comprehensive coverage, you should get big savings.

* Higher deductibles (excess charges)

Most auto insurance companies use deductibles to keep
policy cost down. Deductibles, or excess charges, show what you pay
before your auto insurance policy kicks in. Try requesting quotes with
different levels of deductibles, and see how your quotes vary.

Most internet quote forms contain a box where you can
specify preferred level of deductibles. Ask your broker his recommended
level. For example, going from $250 to $500 deductible can slash your
insurance costs by 20% or more. Go to $1000 and you save a lot of
money. But you must pay the deductible if you need to make a claim !

* Multiple Insurances

I guess this might come under the 'Get Multiple Quotes'
heading, but it's still worth mentioning separately. You usually get an
insurance break if you buy multiple policies with the same insurer.

This might mean multiple vehicles, or homeowner and auto insurance. Either way it's worth asking about multi-policy discounts.

* Low Mileage

More and more people work at home. No more commuting.
Fewer business trips. Low mileage on your car. Maybe you do travel to
work, but car pool ?

Either way, look for low mileage discounts.

* Good Driving Record

A good driving record always reduces your auto insurance
costs. Keep a clean drivers license. Don't speed, don't drive
dangerously, and you'll save money (apart from other benefits !)

* Bonus Tip

Okay, I said '7 Ways...', but here's some extra tips. Fit
anti-theft devices to your car. Go on an advanced driver training
course. Use daytime running lights. If you're a college student away
from home, consider adding to parents policy.

This short article covers the things you must consider
when shopping for auto insurance. Follow these tips and you'll slash
your auto insurance costs.

© DigiLectual Inc. 2004

http://www.autoinsurance--quotes.com/

Discover valuable information and tips to help slash your auto insurance costs.

Go ==> http://www.autoinsurance--quotes.com/

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About the Author

Neil Stelling is Marketing Manager of New York based, DigiLectual Inc.

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