Plenty of individuals are confused by car insurance but the reality is that most forms of insurance are based on common-sense and the fear of the unexpected. For that reason, car owners who want to save cash on car insurance can simply apply the common sense approach. This approach is a straightforward matter of having a look at all the options and using the right one. You can also save cash on car insurance by applying some basic "dos and don'ts".
The very first thing you must do to economize is to carry out a little bit of research. Get familiar with all of the different forms of car insurance and know the robust points of each one. Don't depend on the suggestions of your insurance broker. Remember, the broker gets a commission on sales so he may wish to sell you as much insurance as possible. Do not buy all the policies offered by your broker. Buy only the ones that may do you the most good.
One really bright idea is to raise your "deductible". This is the amount you pay for making a claim when your insurance hasn't "kicked in" yet. The nice thing about raising your deductible is that insurance premium will go down. For comprehensive and collision insurance, raising your deductible will cut back your premium by 16%-30%.
Many of us insure their automobiles because car theft is exceedingly commonplace. Insurance companies know this and that is the reason why insurance agents and brokers advise car owners to install anti-theft devices in their autos. What you may not know is that installing a particularly effective anti-theft device on your car will scale back your premium. The best devices are the one that shut off your car's fuel pump and disable the starter. Install this device in and you can negotiate with your insurance agent for a lower premium.
You can save a lot of money if you drop insurance policies on older automobiles. All cars are valuable but older autos aren't as valuable as new ones. If your car is comparatively old, it may not make a lot of sense to keep paying premiums on your crash and thorough insurance. After you determine the value of your vehicle, (relative to your insurance policy) you can discontinue insurance policies on older automobiles and save cash.
Another smart way to save cash is to use low mileage rebates. If you just drive your auto to work and back, the chance for your insurer is relatively low. Some insurance firms offer kickbacks to auto owners who drive less than a particular number of miles to work each day. Find out if you qualify for this concession and use it.
Eventually, you can cut insurance costs by driving a "low profile car". Some autos are extremely enticing to car burglars. Naturally, it costs more to insure such vehicles. From the other perspective, if your auto's not in the most often stolen automobile category, you will pay a lot less for vehicle insurance. Drive a low profile automobile and reduce insurance costs. These are some proven techniques to save cash on car insurance.
The very first thing you must do to economize is to carry out a little bit of research. Get familiar with all of the different forms of car insurance and know the robust points of each one. Don't depend on the suggestions of your insurance broker. Remember, the broker gets a commission on sales so he may wish to sell you as much insurance as possible. Do not buy all the policies offered by your broker. Buy only the ones that may do you the most good.
One really bright idea is to raise your "deductible". This is the amount you pay for making a claim when your insurance hasn't "kicked in" yet. The nice thing about raising your deductible is that insurance premium will go down. For comprehensive and collision insurance, raising your deductible will cut back your premium by 16%-30%.
Many of us insure their automobiles because car theft is exceedingly commonplace. Insurance companies know this and that is the reason why insurance agents and brokers advise car owners to install anti-theft devices in their autos. What you may not know is that installing a particularly effective anti-theft device on your car will scale back your premium. The best devices are the one that shut off your car's fuel pump and disable the starter. Install this device in and you can negotiate with your insurance agent for a lower premium.
You can save a lot of money if you drop insurance policies on older automobiles. All cars are valuable but older autos aren't as valuable as new ones. If your car is comparatively old, it may not make a lot of sense to keep paying premiums on your crash and thorough insurance. After you determine the value of your vehicle, (relative to your insurance policy) you can discontinue insurance policies on older automobiles and save cash.
Another smart way to save cash is to use low mileage rebates. If you just drive your auto to work and back, the chance for your insurer is relatively low. Some insurance firms offer kickbacks to auto owners who drive less than a particular number of miles to work each day. Find out if you qualify for this concession and use it.
Eventually, you can cut insurance costs by driving a "low profile car". Some autos are extremely enticing to car burglars. Naturally, it costs more to insure such vehicles. From the other perspective, if your auto's not in the most often stolen automobile category, you will pay a lot less for vehicle insurance. Drive a low profile automobile and reduce insurance costs. These are some proven techniques to save cash on car insurance.
About the Author:
Jill Branham, the writer, thanks Pensacola State Farm Insurance agent Steve Fifer for his insights on insurance for car owners.
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