Did you recently discover that you are paying too much for your car insurance? Does practically everyone you know enjoy significantly lower premiums for the same or better coverage? It sucks to be you, but it doesn’t have to. With a little research, you can lower those rates, save yourself some serious cash, and no longer dread the question, “how much do you pay for your insurance?”
Your car is not surrounded by foam; therefore, you need to be insured.
With so many car insurance companies competing for your custom it can be difficult to choose the right one. Do you opt for the talking gecko, embrace the security of the big red umbrella, or place your trust in everyone’s favorite beagle? You begin by ignoring the mascots–no matter how appealing they may be–and doing a bit of research.
Back in 1976, The Captain and Tennille told the American public to “Shop Around“–and this advice still holds true. Especially when it comes to auto insurance. Before committing yourself to a policy, make sure you shop around and compare prices.
Rates can vary significantly between providers and, thanks to the internet, comparison shopping has never been easier. Taking advantage of the wealth of information that is available at your finger tips will help you make a wise decision and save some cash.
Don’t wait until the week before your current policy comes up for renewal. Give yourself enough time to conduct your search for a better rate and have the paperwork drawn up.
And, remember. This is sage advice for all types of insurance including life insurance, health insurance, and business insurance.
Saving money is a good thing, but choosing the cheapest option is not always the wisest decision either. According to Pablo Conde’s “How to Find the Best Business Insurance Quotes,” going with the lowest price tag may be a mistake as “other insurance plans might offer superior coverage, or come from companies with a better reputation in the industry.” Be sure to understand exactly what you are getting for your money and research your provider’s online reputation.
It may be tempting to have your annual premium broken down into monthly installments, but it will cost you more. Paying it all in one shot will save you interest that, in some cases, can add up to almost 10% of your total bill. Auto Owners’ Insurance.com offers advice on this and other discounts.
What business doesn’t love a loyal customer? Obviously, none. And insurance companies often provide sizeable discounts to consumers who have more than one insurance policy with their company. This may be the perfect chance to find a great deal on your home, business, motorcycle, boat, and life insurance too.
If you have opted for a “no or low” deductible policy, you are likely paying big bucks. By increasing the deductible amount, you can decrease your premiums–sometimes, by a substantial amount. While you may wish to keep your low deductible, this is one suggested way to lower your payments. To help you weigh the pros and cons of this decision, the DMV’s “Benefits of Increasing Car Insurance Deductibles” provides some valuable advice.
The next time someone asks you how much you pay for insurance, you can blow their mind with your seemingly impossible low rates. And keep your hard-earned money in the bank.
Did you recently save yourself a wad of cash on your insurance premium? How did you do it?
Kimberley Laws is a regular contributor to HowDoYou.com and the author of two blogs, The Embiggens Project and Searching for Barry Weiss. A "Jill of all trades," she is a High School English Teacher and Certified Career Counselor with a background in makeup artistry, retail banking, and graphic design. She is also a scrapbooking, PEZ-collecting, car enthusiast who loves travelling and New York City.
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