Most people are paying way too much for their automobile insurance. Are you one of them? Here are the top 10 ways to save money on your auto insurance .
1. Increase your deductible. Your deductible is the amount of money you pay toward a claim before your insurance company will pay the remainder of the claim. Increasing your deductible decreases your premium. For instance, increasing your deductible from $200 to $500 will save you up to 30%. Increase it to $1,000 and you can save up to 50%.
2. Drop collision and comprehensive coverage. If you drive an older car that's worth less that the combined amount of your premium and your deductible, consider dropping your collision and comprehensive coverage. Reason being, you're paying more for your insurance than you'll ever collect on a claim.
3. Get Multi-policy discounts. Insurance companies offer discounts if you insure more than one car with them, or you insure your car and home with them. By doing this you can save up to 15% on your premium.
4. Get safety discounts. Most companies give discounts for having safety features such as automatic seat belts and air bags on your car.
5. Get security discounts. You can get discounts for having a car alarm or ant-theft device installed on your car.
6. Buy a low-profile car. Muscle cars, exotic sports cars, and cars that are costly to repair are also costly to insure. Before you buy insurance, compare insurance rates to see how much insurance will cost for the car you want to buy (see link below).
7. Get a low-mileage discount. Most insurance companies will give you a discount if you put less miles on your car than the average driver.
8. Ask for discounts. Insurance companies don't always tell you about all the discounts they offer, so take it upon yourself to ask your agent to tell you about all the discounts you qualify for and include them in your policy.
9. Pay online. Paying your premium online using electronic bill pay, credit card, or automatic bank deduction can save you up to $5 a month on billing fees.
10. Compare Quotes. Comparing rate quotes from different insurers is the #1 way to save on your auto insurance. Rates can vary by hundreds of dollars from one company to the next, so spending a little time comparing quotes can save you a lot of money.
Visit http://www.LowerRateQuotes.com or click on the following link to get auto insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on how to save money on auto insurance.
