Tips on Getting the Cheapest Car Insurance
Tips on Getting the Cheapest Car Insurance
Auto insurance is a necessity for every car owner. Although car insurance is a required expense, the cost can be kept to a minimum if the proper steps are taken. Here are some effective tips for getting the cheapest insurance for your car.
Select a low-risk vehicle
The cost of insurance will differ from one vehicle to the next. Vehicles that have an excellent safety rating are typically cheaper to insure. On the other hand, fast sports cars and high-end luxury vehicles will have a much more expensive insurance premium. The reliability rating of a vehicle also has a significant impact on the insurance rate. Before choosing a vehicle, do not forget to inquire about the cost of auto insurance.
Practice safe driving tactics
A person’s driving record will either increase or decrease the price of car insurance. The best approach is to drive defensively at all times. Staying alert while at the wheel decreases the likelihood of being involved in a car crash. Avoid speeding and never attempt to text while driving.
Reduce the level of coverage
Although driving without an adequate amount of insurance coverage is never a good idea, some car owners may actually benefit from reducing their level of coverage. Motorists who own a low-value vehicle may not need collision coverage. The cost of the insurance policy could actually exceed the value of the car.
Install a theft deterrent system
Each week, hundreds of vehicles are stolen. Insurance companies consider a theft deterrent system to be a very effective security feature. In an effort to encourage drivers to install a theft deterrent system, most insurance providers provide discounts to the drivers who install anti-theft devices.
Shop around
When it comes to purchasing car insurance, it is usually a good idea to shop around. However, keep in mind that all insurance companies are not reliable. Before selecting a policy, be sure to research the insurance company’s credentials. In the event that a motorist needs to file a claim, they need to be certain that their car insurance provider will be dependable.
My friend who works in one of a car insurance in our City, told us that sometimes we need to have a white lie. If your job is a managerial position, try to put a lower job title in that way you would get a less car insurance.
Clarisse @ Make Money Your Way recently posted…Help With Debt in Today’s Turbulent Times
Interesting…. I never thought that your job title would change the amount you pay in car insurance?!?!? I will have to research this more. Thanks for the tip!
It makes sense – the higher position you hold, the more money you make, the more insurance companies will wanna charge you!
Jennifer,
It does make sense that they would want to charge as much as they could get away with 🙂 I had just never heard this one before – I knew insurance companies were sneaky, but this is ridiculous!!!
I just recently renewed our auto insurance. The insurance company had an interest charge for the monthly payments so I paid the entire annual amount in one payment to eliminate it. I also raised the deductible for comprehensive coverage from $250 to $500 which also reduced the cost. Of course, it helps that we drive a 2008 Toyota Corolla and live relatively close to work
Dan @ Our Big Fat Wallet recently posted…Financial Streaks I’m Proud Of
I do the same thing, except pay every 6 months. I don’t think they have an option to pay for the whole year… I will have to check into that. Thanks for the tip Dan!
The amount you drive can also factor in…..we get a discount on one of our cars because it gets driven very little.
Brock @cleverdude recently posted…Find The Best Rate For Anything at Rate Supermarket!
Brock,
Very true! I think the magic limit where they really increase the price is 50 miles per day. At least, that’s what the progressive snapshot device thingy is looking for.