Before you go shopping for car insurance, you need to understand some factors that might influence the cost of your insurance that you have no control over. These factors include:
- Record of prior claims
- Credit report
Inspire of these factors, there are some ways that you can control to get you a lower price on your insurance.
- Get several quotes before you commit to any one company
- Assess the cost of insurance before you buy your new car
- Go for higher deductibles
- If auto loan is paid off, don’t carry collision or comprehensive coverage
- Ask about any discounts
Comparison shop by getting quotes from online websites. Also, companies that are known for low prices should be researched before considering them.
What car you are buying
The make, model and year of the car you are wanting to buy; do have an impact on insurance rates. The cars with the more insurance cost are the ones that are new, expensive or sporty. If you haven’t bought your car yet, make a list of about three and have carriers give you quotes and all three.
What is your deductible?
Higher deductibles are another way to save. Going from a $250 to $1000 can save you 35 to even 40 percent on your auto policy.
No collision or comprehensive
An older car does not need comp and collision coverage as you could be paying more on insurance than the car is worth. The typical policy holder only makes a claim once every 11 years and has a total loss usually only one time in 50 years.
Check into discounts
If you don’t drive a lot and your car has low mileages some companies have a discount for that. Also, ask about group insurance discounts as there are often discounts for some professions or organizations. Examples are teachers, veterans and engineers. Get a list of these groups from any carrier you are considering.
Another discount is one you might get if you have home, rental or other insurance all with the same company, addingyour new car will get you a discount.
Check these and you will be surprise how much you can save on your auto policy.