How Can You Lower Your Auto Insurance Rates?
By Felix De Los Santos
How much can you save by switching auto insurance companies? Compare Car Insurance Quotes online
Auto insurance comparison is the quickest way to find the cheapest insurance rates but before shopping around it's important to understand some options you have to lower the cost of auto insurance every month.
Car Insurance Discounts
You often hear how switching insurance companies can save you money and one of the biggest reasons the numbers can seem attractive is that many drivers do not take advantage of all the car insurance discounts they are eligible for. In a perfect world an auto insurance company would automatically apply any eligible discounts but we live in a world of commerce so never assume anything. Sometimes an agent may intentionally avoid asking you a question which may lead to lower premiums while others may simply forget. At the end of the day the responsibility is yours to learn and ask about eligibility for any discounts offered. Some of the most common car insurance discounts include:
• Good Driver discount
• Multi-Vehicle discount
• Multi-Policy discount
• Vehicle Safety equipment discount
Learn about car insurance discounts here and make sure to look into policies with accident waivers. Many auto insurers offer single accident waivers which can save you a lot of money from your first accident. These waivers work by not penalizing you for a single accident within a certain period of time. Accidents are prone to happen and it's a nice piece of mind not to get penalized if somebody else hits your car.
Reduce your Coverage
Many people are over insured or paying for insurance they no longer need. GAP insurance is a good example of this. New car owners often take GAP insurance out when they buy a car but a few years later when the replacement value of the vehicle is greater than the car loan balance it doesn't make any sense to keep paying GAP insurance premiums. Always review the details of your existing car insurance and see if there is any room to reduce your coverage without increasing your risk.
Of course you can also forego all additional and supplemental insurance and simply purchase a policy to conform with state minimum requirements however this is never a good idea. A single car accident can quickly cost you thousands of dollars and this will not help any situation when your main priority is to save money.
Raise your Car Insurance Deductible
Auto insurance deductibles are the amount you agree to pay before your auto insurance coverage kicks in. For example if you file a claim for $5,000 in damages and have a policy deductible of $250 then you are obligated to pay the $250 before the car insurance company cuts a check for the $4,750. In terms of risk the higher the deductible the lower the risk of a policyholder filing a future claim so auto insurance companies give big discounts when you opt for a higher deductible. The downfall is you will need the cash to pay this deductible in the event of a car accident but sometimes the premium savings can be well worth it.
Actually, car Insurance comparison is the key to cheaper rates.There are many companies to choose from and while you may enjoy the friendly customer service of your existing provider there is always another company with the same quality of service around the block. The trick to finding the cheapest auto insurance rates is compare auto insurance quotes from multiple providers and chose the best combination of cost, quality and coverage. It may take a little time but millions of drivers switch auto insurance companies [http://direct-autoinsurance.org] every year saving money with a new provider.
Article Source: http://EzineArticles.com/expert/Felix_De_Los_Santos/1846785