HOW TO SAVE MONEY ON CAR INSURANCE

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Saving money on the cost of your car insurance is a simple task if you know what to look for, and what to ask for. Do not be afraid to ask questions when talking to an insurance agent. If the company that you are chatting with is hard to work with, or will not give you any help, then move on to the next carrier.

1. Who is on the Policy-Put restrictions on your policy to lower the cost of your policy. Age restrictions are a good place to start. Many cut-offs for age discounts are 24 and 40. Do not add people onto your policy that have a bad driving record.
2. Excess-If you raise the amount of excess that you will have to pay in case of an accident, the monthly cost will go down.
3. Extras-Clauses that have been added on may be costing you more money. For instance, the roadside assistance that you never use. Look through your contract and if there is anything on it that you do not need, get rid of it.
4. Comprehensive though this is the highest level of insurance that you can get, it may not always be the most expensive option. Comprehensive car insurance can be more cost-efficient after your record, location, and other data is factored into the cost of a policy.
5. Low Mileage-If you use public transportation most of the time, or if you can, then talk to your insurance agent about getting low mileage insurance. This type of insurance charges you by the miles that you put on your vehicle, so if it is parked more than driven, investigate this type of coverage.
6. Bundles-Using an insurance carrier for all your needs will get you a discount. If you have life or health insurance, homeowners, or renters, or even more than one car, bundle them all under one large umbrella.
7. Shop Around-Check around with other agents in your area. They may have better deals on packages, or they may offer a policy more suited to you. This is not a step that you should only do when getting your policy the first time. Constantly watch and check around.
8. Vehicle-Older vehicles may cost you more than a newer one. Safety features make a vehicle safer when in an accident, with fewer injury rates overall. If you are in the market for buying a new car, check to see what your rate will be, and go with what will give you a lower cost.
9. Driving Record-The Insurance Information Institute claims that this is the best way to save money on any type of car insurance. Keep your driving record in good shape. Avoid getting tickets. Drive defensively to avoid accidents. Anything that you can do to increase your skills, and lower your chance of accidents, is a good idea.
10. Safety Features-The more safety features that you have, the lower the cost of the insurance. If you have a vehicle that does not have basic features, add them on.
11. Credit Rating-Insurance companies go off a credit system like that of credit card companies. The higher your credit rating is, the better the deal that you can get on the policy.

The best way to save money on your car insurance is to be diligent about checking the prices of other carriers. Ask them for cheaper options on the policy. Many agents will not offer information that could save you money, but if you speak up and ask, then a good insurance specialist will show you the way to savings.

Samantha Waites

© 2021 Samantha Waites - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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