Every state in the United States, and nearly every country in the world, now require people who drive cars, to have liability insurance before they even hit the road. And, almost every finance company that makes loans on cars, will also require complete coverage, including comprehensive and collision, that covers their interest in the car. And, there are quite a few different ways to adjust your coverage to more protect yourself in the case of an accident, or increase/decrease the coverage on your car depending on how much it’s worth to you. Let’s take a look at a few ways that you could possibly save money, either with the same company that you’re now insured by, or by looking for these particular discounts with another company.
One great way to save money with most car insurance companies is to reduce the number of miles that you drive to and from work. And, the absolute easiest way to do that is to join a carpool network in your local area. There are many carpool connection companies available on the Internet that can help match people near your home, that work near your work, and have similar work hours as you. You should notify your insurance company as soon as you’re set up with carpooling, the least number of days per week that you drive your car to an from work the less you’ll pay for car insurance rates.
Another way to you can save money on your car insurance rates, sometimes with just a phone call depending on the company your with, is let them know that your car kept in a garage at night, and any time that you’re not driving it. This substantially reduces the amount of risk of vandalism, theft, hailstones falling on it, or drunks running into it at night. A car that is kept in a garage will also last longer because of the reduced exposure to sun, rain and other weather elements. Additionally, the installation of a theft alarm is usually worth more of a discount than the cost of the alarm. Not to mention the peace of mind that comes with it.
Many insurance companies offer financing on a monthly basis with a will automatically deduct from your checking account or bill you monthly at your home. This is fantastic for people that live paycheck to paycheck, and have difficulty saving up money. However, if you read the fine print, all of these monthly billing conveniences come with a price, you’ll need to read your bill with a magnifying glass to discover all the facts. Maybe it’s worth it to you to pay $6- $10 extra per month to be billed monthly, or saving $100 a year on billing fees, sounds like a better idea.
One quick way to get stuck paying high premiums is to let your insurance lapse out by not paying on time. The thought behind this is, that for a short period of time you were uninsured, illegal to be on the road, and a high risk hazard to all of the insurance companies in your state. What insurance companies do, is penalize you with a higher rate when re-sign with them, possibly for six months, or maybe for a year, for just a simple mistake.
Well, those are four fantastic tips that could save you money right away with your insurance company if the particular discount is offered. Then, next time you need to renew, you can get on the phone and mention these types of discounts, to see if they are available and you’re eligible. You can also check online car insurance.