Auto Insurance Rates -- To Save Much, Implement These

We all will be pleased to get a very affordable rate provided it comes with sufficient coverage. But how can this be achieved? Let's explore several sure-fire ways of getting just that...

1. The difference in what it will cost you to insure similar cars could be very huge. So have this on your mind when you are ready to buy your next vehicle. Avoid any car that has a high theft rate and/or a poor crash rating.

In addition, it will also take much more to insure a car that costs a lot to fix or maintain. Asking the right questions will make it easy for you to avoid expensive-to-insure cars and attract cheaper rates.

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2. A car with a higher safety rating will attract lower rates than one with a poor rating all other things being the same. Does your car have built-in safety mechanisms? You will qualify for a Safe Car discount if your vehicle has such features. For more details on these and how much savings you'll realize by having them, discuss with your insurance agent.

3. Under-25 drivers get higher rates than any other age group. More so, the younger an under-25 driver, the more they'd have to pay. That is why teenagers pay a lot more than 22-year olds.

So you'll do well to NOT place your teenage driver on your policy. It will have an adverse effect on your rate. Your teen driver should have his/her own policy. This will be made possible if you sign an exclusion form.

Let your teen bear the responsibility of paying for their auto insurance. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.

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4. The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Some insurers will give you up to 5% in discounts once you've been with them for up to three years while others will give you such a discount only when you've stayed for up to five.

Furthermore, if a long term policy holder files just one claim, most insurers will NOT raise their rates thereafter. Insurers offer these as incentives to keep you with them since it serves them better too.

However, what you may save by switching to another insurer might far outweigh all the incentives you'll get depending on what your rates are and how much another insurer is ready to offer.

let'ssay, for example, that you will get a 5% (or $125) discount after your third year with an insurer where you present auto insurance premium is $2,500.

However, know that your rates may be raised to reflect the effect of inflation. Between these three years you would most likely get an insurance provider who will give you a comparable auto insurance coverage or better for under $2,000. In this regard, it is of no value to stay put because you want to get a loyalty discount much later when you can enjoy lower rates at the moment.

It's a sure fact that most people can pay a lot less with another insurer if they will only take the time to shop extensively.. To be sure you're not simply missing out better offers, obtain and compare auto insurance quotes not less than five insurance quotes sites..

5. There are classes that are designed to make you a better driver. Join them. Apart from the fact that such programs will make you a better driver, they'll show your insurance carrier that you're taking active steps to reduce your risk level.

6. It's easy to save a few hundred dollars on a home but lose thousands over the years on auto insurance because of its location. Also note that a neighbor not too far away might fall under a lower crime zone than you -- This affects rates.

So check with your agent before you commit to a new home. I know: That isn't usually an issue when you're looking for a home but it's really important.

Since you may live in the same home for decades to come, a difference of $200 in auto insurance rates would amount to thousands over the years.

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7. A good option for you is to use your parents' car insurance policy. Your parents are part of a better risk age bracket.

To take advantage of this though, you'll have to live with your parents and also have the car registered in their name. This means that by law they own the vehicle. If the benefits of "independence" outweigh your car insurance savings then this is definitely not alternative for you.

8. You can realize savings of hundreds of dollars on your auto insurance policy by requesting for insurance quotes from quote sites. The best strategy is to visit at least five sites and making sure that you give the same (correct) information about yourself.

I recommend that you use a minimum of five quotes sites as that will make it less likely that you'll miss out better quotes not carried by the other sites. This gives you a broader basis for doing better comparisons thereby increasing your chances of better quotes.

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