Wednesday, June 1, 2011

Car insurance tips to remember

Car insurance tips to remember.

Here are a few quick tips to lower your car insurance rate.

  1. Raise your deductible.
  2. Remove collision coverage.
  3. Shop around every couple of years.

First, raise your deductible on collision and/or comprehensive coverage. If your deductible is $200, coverage will cost more than if your deductible is $1,000. We are not necessarily recommending increasing your deductible to $1,000.00, but you should certainly consider the premium saving if your deductible is lower than $500.

If your car is worth $3,000 or less, consider dropping the collision portion of your insurance coverage. By dropping this coverage, you are essentially self insuring. If you are a safe driver, and can afford to repair or replace your car, the savings could be justified.

Above all, get competitive quotes. Compare auto insurance premiums from multiple companies/agents. Have agents fight for your business. You would be surprised how much rates can differ from one company to another. It is a good idea to shop around at least every 2 years. You should also consider shopping rates in the event that you move, get married, or change vehicles.

More in depth advice to save money on your car insurance.

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