Auto Insurance Rates -- To Save Much, Try These

We all will be happy to get a very affordable rate that comes with sufficient coverage. But in what ways can this be achieved? You'll discover several useful tips in this write-up...

1. There are cars that cost far more to insure. So as you look out for the wonderful specs of the vehicle you intend to buy, take some time to find out if it costs too much to insure. Avoid any car that has a high theft rate and/or a bad crash rating.

Furthermore, cars that typically cost more to repair also cost more to insure. With a little diligence you can avoid buying a car that will cost you much in higher rates over a few years.

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2. You'll pay less if your vehicle is considered to have a higher safety rating. Safety ratings should receive more consideration when buying a new vehicle. Such systems attract a reasonable discount. Your insurance agent can give you a list of features that will get you a discount with your insurance company.

3. It's a known fact that young drivers attract high rates. 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 drive it up by a huge margin. You can discuss with your agent about signing an exclusion form so that your teen driver can have his/her own auto policy.

If a teen is keen on driving then then should be made responsible for at least the cost of 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. Insurers give give customers who have remained loyal a long term discount and accident forgiveness. Most insurers will give you a discount of about 5% if you stay with them for up to five years (some will give you once you stay for up to three.

Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. These are all incentives for you to stay with them for as long as possible. The longer you stay, the more you'll save.

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.

Assuming your auto insurance premium is $2,500 and you get a 5% discount when you stay for up to 5 years you'll pay $2,500 - (5% of $2,500 or $125) = $2,375.

But we can almost say with a level of assurance that because of inflation your rate might not remain the same. But if you are someone who does regular shopping for auto insurance you will almost always get an insurance carrier within those years of waiting who'll give you comparable coverage for less. Then it won't be wise to stay put because you want to become eligible for a discount down the road knowing that the expected discount is less than savings you'll get immediately if you change to another insurer.

Moreover, in most cases, most folks can easily pay cheaper rates than they are presently on auto insurance if they shop right.. In order to know if you're not loosing a better deal, get and compare auto insurance quotes not less than five insurance quotes sites..

5. There are course that are set up to make you a better driver. Participate in them. In addition to the fact that they will help lower your rate, they will help keep you and others safer.

6. Before you get carried away with the few hundreds you will save on a house, check if it will not cost you much more in auto insurance. Homes in the same neighborhood may fall under different risk zones as far as your insurer is concerned.

So, as part of your home shopping activities, check how this neighborhood will affect your auto insurance rate. The truth is that most people don't think about this when they are about buying a home.

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 alternative for you is to use your parents' car insurance policy. Your parents are part of a lower risk age bracket.

You have to bear in mind, though, that the vehicle must be registered in their name and you must be living with them if you want to take advantage of this option. If you do not like the idea of giving the car's ownership to them and other stuff that may come with it, then you'll have to forego this option.

8. As you do these other things to cut down your auto premium, here's something you can do to receive lower rates today: Visit good quotes sites and obtain quotes.

Visit a minimum of five of such for the best results. It's free, quick and easy. However, ensure you give your correct details as you fill the questionnaires on each site. Thereafter, just pick the insurer that represents the best price/value from the quotes you receive.

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