Cheap Car Insurance Rate -- Straightforward But Effective Steps

1. For no reason should you allow your auto insurance policy to lapse.. People who let that happen to them pay more expensive rates for a long time. It's easy for this to happen to many individuals as they are changing to another insurer.

A simple way to be certain you do NOT make this costly mistake is to maintain your old policy until you're sure the new one is in full force. As simple as this may seem, many individuals are bearing the weight of exorbitant rates because of this silly little oversight.

2. You will attract lower rates if you elect to pay your premiums yearly and not monthly. True, paying monthly might be stressless but they are also less affordable.

There are transaction fees that are incurred when processing a check. For twelve checks (that is, your monthly premiums) you'll have a sum of 12 transactions. You'll then have to pay the sum of twelve transaction fees..

Besides there are also administrative costs that are incurred due to the monthly payment option. For instance, it costs insurance companies millions of dollars every year to send out payment notices..

These and more are then included in your premium thereby making it more than if you paid annually.

3. An easy but rewarding way of bringing down your car insurance rate is by authorizing an EFT (Electronic Funds Transfer). This just means your insurance provider withdraws your premiums automatically from your account at specified periods without mailing you payment notices. This saves the insurance company in many ways including removing the cost of sending payment notices and the cost of processing checks. Your premium is therefore lowered to reflect the lower cost of giving you insurance.

4. Visit a minimum of five quotes sites. Using a minimum of five quotes sites increase the chances that you'd get more affordable auto insurance quotes. This is because insurance companies not represented by one site would be represented by the other.

Moreover, you should understand that because your chances of receiving lower auto insurance quotes is proportional the range of quotes you get, the more insurance companies you receive quotes from, the brighter your chances will be.

Obtaining your auto insurance quotes online will help you save a bundle if you invest around 25 minutes to obtain quotes from at least five quotes sites.

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