Insurance is necessary, and expensive. Fortunately, there are many ways you can save on insurance premiums. If you own more than one vehicle, if you carry home or life insurance, the simplest way to save on your insurance costs is purchase all your policies from the same company. Putting all your policies together under the same company is called bundling. Companies, understandably, offer substantial discounts on insurance when you purchase more than one policy. It's also much easier to manage your bundled policies. You only need to see one agent in case of a claim, and you only need to pay one bill.
Another easy method of lowering your auto insurance premiums is choosing a higher deductible. Raising your deductible always saves you money, but there is a catch: You absolutely must have the funds on hand to cover your deductible if you suffer a loss.
Getting quotes on your policies from more than one insurer is also a way to cut down insurance costs. Sometimes companies give you a better deal when they learn you are shopping around.
If you are a senior, a student, a member of AARP, in the military, over 25, or a woman, you may get a price break on your auto insurance. Make sure you choose policies that reward you for being in one of these categories.
Another way to save money on your car insurance is to take a basic or defensive driving course. You must prove that you took and passed the course in order to receive a discount on your insurance premiums. Many qualified insurance providers offer discounts for successfully completing these driving courses because it shows that you are serious about driving safely and responsibly.
Where you keep your car at night also has a big impact on how you pay for your auto insurance. Drivers who live in small towns pay less than drivers who live in big cities. Drivers who live in low-risk areas pay less than drivers who live in high-risk areas. Every company rates risk differently, so ask around if you are paying extra on your policy just because of where you live.
Own a sports car? Consider trading it in. Sports cars demand higher insurance premiums for the simple reason that they are much more often crashed or stolen. But if you buy a car that is not considered high-risk, you will have a much easier time negotiating a lower rate. Contact your agent for details.
Finally, if you can't find a discount from the list above, ask your authorized insurance agent. Many insurance companies have their own programs that help you lower your costs down to an affordable level. Whatever your personal insurance needs may be, your professional insurance agent can work with you to get exactly the coverage you need.
Another easy method of lowering your auto insurance premiums is choosing a higher deductible. Raising your deductible always saves you money, but there is a catch: You absolutely must have the funds on hand to cover your deductible if you suffer a loss.
Getting quotes on your policies from more than one insurer is also a way to cut down insurance costs. Sometimes companies give you a better deal when they learn you are shopping around.
If you are a senior, a student, a member of AARP, in the military, over 25, or a woman, you may get a price break on your auto insurance. Make sure you choose policies that reward you for being in one of these categories.
Another way to save money on your car insurance is to take a basic or defensive driving course. You must prove that you took and passed the course in order to receive a discount on your insurance premiums. Many qualified insurance providers offer discounts for successfully completing these driving courses because it shows that you are serious about driving safely and responsibly.
Where you keep your car at night also has a big impact on how you pay for your auto insurance. Drivers who live in small towns pay less than drivers who live in big cities. Drivers who live in low-risk areas pay less than drivers who live in high-risk areas. Every company rates risk differently, so ask around if you are paying extra on your policy just because of where you live.
Own a sports car? Consider trading it in. Sports cars demand higher insurance premiums for the simple reason that they are much more often crashed or stolen. But if you buy a car that is not considered high-risk, you will have a much easier time negotiating a lower rate. Contact your agent for details.
Finally, if you can't find a discount from the list above, ask your authorized insurance agent. Many insurance companies have their own programs that help you lower your costs down to an affordable level. Whatever your personal insurance needs may be, your professional insurance agent can work with you to get exactly the coverage you need.
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
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