Affordable Automobile Insurance Rate -- Simple But Guaranteed Steps

1. Ensure your auto insurance policy is never allowed to lapse for any reason.. Those who allow this to happen to them pay higher rates for a long time. This happens to some folks while they are changing over to another insurance carrier.

Don't terminate your old policy until the new one is fully functional and you'll avoid this costly mistake. Many people are paying higher rates than they would otherwise just because they made this mistake. So do take care so you don't become one of them.

2. Paying your premium yearly will attract lower rates than choosing monthly payments. True, paying monthly might be stressless but they are also less affordable.

There are transaction charges that are attached to processing a check. All through a year, your monthly checks would be processed separately since they are all separate transactions. you will then have to pay the sum of 12 transaction charges..

Besides there are also administrative costs that are incurred due to the monthly payment option. A good example of such is the cost associated with mailing payment notices..

These costs plus a profit margin for this this "value-added service" is factored into your premium making it higher than another of the same profile that pays annually every year.

3. A simple but rewarding way of reducing your automobile insurance premium is by authorizing an EFT (Electronic Funds Transfer). This process authorizes your bank to credit your insurance provider with your payments automatically until you stipulate to the contrary. This saves the insurance company in many ways including removing the cost of mailing payment notices and the cost associated with processing checks. Your insurance carrier gives you part of what they save by offering you a lower rates.

4. Make out some time to visit at least 5 insurance quotes sites that return quotes on auto insurance policies. It should require not more than 25 minutes.

As you visit each site, make sure you give the same details. Doing otherwise will produce misleading results. After you've obtained your auto insurance quotes, compare them to see which serves your interest best in price/value.

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