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Tuesday, July 15, 2008

Top 10 Ways to Save on Auto Insurance

These are the top ten ways to save on your auto insurance, starting from ten and working its way down to number one. Follow these tips to help you save year after year;

10. Be Knowledgeable Being aware of the different types of coverage available will help you weed out the unnecessary coverage and avoid paying for protection you may not need or already have elsewhere like through your employer benefits, GAP coverage, or road side assistance.

9. Have an insure-friendly vehicle. When it comes to your vehicle, insurance carriers will look at the title of the vehicle, a salvage title vehicle is subject to higher insurance rates. The reason being is that a vehicle that has already been in an accident is already made weak is more vulnerable to risk. When. A clean auto title can save you a lot of money each year.

8. Take advantage of auto/homeowner packages - Many carriers will offer discounts for purchasing your homeowners policy along with your auto policy. This can reduce your premiums by a certain percentage such as 5-20%. Ask your agent about home/auto packages to see if you are eligible.

7. Renewal Discounts - Renewing your policy term may come with a variety of advantages. When you renew, violations that are no longer on your record will be dropped from your policy. Most carriers will offer some kind of discount for staying with them for another term, usually six to twelve months. This discount can range in percentage depending on the carrier; however it may be in the range of 5%.

6. Higher Deductibles - When you purchase your coverage, consider the deductible you have selected. If you are paying a considerable amount of money for a low deductible, try raising your comprehensive and collision deductible to see what impact it will have on your premium. The higher the deductible the lower your premium; however, be careful not to raise your deductible too high. Remember, the deductible is what you will pay out in order to fix your vehicle's damages.

5. Avoid Duplicate Coverage - If you have a health insurance policy through your employer or independently, tell your agent so that you will not purchase coverage that your health policy already covers. Reconsider getting medical payments coverage with your personal automobile policy since it may not be necessary. Also discuss with your agent the option of excluding Uninsured Motorist Bodily Injury or Personal Injury Protection.

4. Keep a Clean Record - Having a clean driving record is very important. Simple violations can increase your rate by hundreds of dollars a year. Your driving record will be checked anytime you purchase a policy and is a big factor for determining rates. Violations will eventually come off your record, but it may take anywhere from 3 - 10 years depending on the type of violation and state guidelines. The least amount of tickets and accidents you may have, the cheaper and more affordable your premiums will be.

3. Stay Insured - Most companies will offer a discount for being continually insured without any lapse. This is known as a persistency discount which shows that you aren't one who will be cancelled every other month for non-payment of premium. Discounts usually apply after one year buy may be greater if continually insured for 3 or even 5+ years.

2. Take Advantage of Discounts - Discounts can save you money and almost everyone qualifies for them. There are many discounts available such as good student, low mileage, college degree, vehicle safety, senior safety and more. Many discounts may not be offered unless you initiate the request. Ask your agent or broker if you qualify for any discounts.

1. To save on auto insurance compare - Completing an online premium comparison is one of the most effective ways of finding competitive rates. The benefit of getting auto insurance quotes online is that you not only get rates from one, but from many major insurance carries throughout the United States, all at once and from one single source. No obligation or personal information is needed. Rate quotes are instant and in most states, policies may be purchased online.

Consumers may also research companies and look up valuable information. Log on to AutoInsurance.net.in to learn more on how to save big on your premiums year after year.

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