Posted on Sunday, 9th May 2010 by jkibler
Cheapest car insurance 12 Ways to save 50% or more on the cost of your automobile insurance by applying available discounts and lowering your payments.
Almost every state in the union requires that people have automobile insurance if they drive a car and most states will have minimum requirements which everybody must meet in terms of how much coverage they need.
The price for car insurance varies greatly depending on where you live, how old you are, whether you are a male or female and your occupation. These are things you have little or no control over.
But, there are many ways to save money on your car insurance by taking advantage of the available discounts.
12 Available discounts.
1. Safe driver discount. If you are safe driver you become eligible for a safe driver discount. The definition of a safe driver as far as most insurance companies are concerned is a person who has not cause an accident within the last five years and does not have any moving traffic violations.
2. Take a defensive driving course. If you have any issues concerning your driving record such as moving traffic violations or if you have causing accidents in the last five years get yourself enrolled in traffic school and upon completion the points will be removed from your driver license. Once this occurs you will become eligible for the discount.
3. High deductible discount. If you will raise the deductible from $200 per accident all the way up to $1000 per accident or maybe even $1200 or $1500 per accident you will save yourself about 40% on the cost of your car insurance premiums.
Before you do this however, you should make sure that you have enough money in the bank to cover any out-of-pocket expenses that might occur should you cause an accident.
Most people do not realize that the secret to lowering the cost of any type of insurance is by raising the deductible.
4. Switch to a Liability insurance policy. If the car you own is paid for and not financed you can drop the comprehensive car insurance and collision insurance on your coverage and go with a straight liability policy and save yourself about 20% on the cost of your insurance.
Many times people who are driving older cars which are paid for are carrying full coverage comprehensive car insurance which they do not need. I call these people over insured because they are spending more money than necessary to meet the minimum requirements.
5. Buying car insurance and homeowners insurance from the same company. This will save you between 10% and 20% on the cost of your insurance. I do this myself and direct car insurance companies cannot match the price I pay for my insurance.
Not every insurance company will sell policies for both homeowners insurance and auto insurance so you may have to shop around to find a company that does.
6. Safety features. If your car has seatbelts, airbags and antilock brakes you are eligible for a discount. If you happen to have an older car, installing these safety items can be very expensive.
7. If you are a student get good grades. Maintain a “B” average will get you a 10% discount on the cost of your car insurance.
8. If you are a student and living at home stay on your parent’s car insurance policy. This will save you another 10% to 20% on the cost for your insurance as opposed to getting your own policy.
9. Keep your credit score high. Most people do not realize that car insurance companies will check credit scores before they issue a policy. They rightly believe that if a person is careful enough to keep a good credit score they will also be careful when they drive and will cause less accidents and therefore causing the insurance companies to put out less money. The higher your credit score the lower your car insurance.
If you have a bad credit score pay all of your bills on time for at least three months before you even think about apply for car insurance. This will have the effect of raising your credit score and lowering the cost your insurance.
10. Pay your car insurance yearly instead of quarterly or monthly. By doing this you will save yourself another 10% on the price.
11. Low mileage discount. If you are in a position to do so, carpool. The fewer miles you drive per year the less you will pay for your insurance and if you drive less than 12,000 miles per year you are eligible for a low mileage discount. Also, it saves on the cost of gasoline.
12. Park your car in a safe place. If you park out on the street at night you will pay more for your insurance.
Jimmy says take advantage of these 12 discounts and you will find yourself paying less than half the amount of money your car insurance than you normally would.
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Cheapest car insurance is not difficult to get if you will take the time to research and apply these discounts to your application and if you have any suggestions for more discounts, please share with our readers in the comments.
Tags: Car insurance
Posted in Saving Money On Car Insurance | Comments (6)
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