Car insurance is a necessity.
Not only is it a law, it’ll also protect you from possible financial ruin if you’re in an accident.
But just because you have to have it doesn’t mean that you can’t or shouldn’t try to get the best deal possible.
Saving money is always a good thing.
Here’s how to get the coverage you need without breaking the bank.
Each insurance company has their own special ways to save on car insurance.
Since these perks can vary widely from company to company, ask your trusted insurance guru what discounts you might be eligible for.
Getting into accidents and racking up speeding tickets will cause your car insurance premium to go up.
If you’re offered the opportunity to attend a driving class in order to keep a ticket off your record, do it.
A few hours in a class could save you hundreds of dollars over a few years.
If your car is a bit of a junker, you really don’t need to have collision coverage, which pays for damage to your vehicle in the case of an accident.
You probably don’t need the comprehensive insurance that pays for damage caused by a storm, vandalism or hitting an animal, either.
A good formula to figure out if you’re safe to drop collision and comprehensive insurance is this:
Your car is worth less than your deductible plus the cost of your annual car insurance coverage.
Keep in mind that collision and comprehensive coverage will never pay out more than your vehicle is worth.
Vehicles that are considered safe and are moderately-priced – think small SUVs and minivans – are usually cheaper to insure.
Driving a flashy sports car will definitely cost you more.
You can actually check car insurance rates for specific vehicles before you buy.
Of course, your insurance agent will always be able to give you the most up-to-date information.
Remember, the higher your deductible, the lower your premiums will be.
If you’re paying for your car insurance monthly, your required payment for each month will be lower.
Did you know that your credit rating is one of the factors that insurers consider when they’re calculating your car insurance premiums?
In some states, it can have a greater impact than your driving record.
Check out these three tips for improving your credit:
If you’re an infrequent driver, it may make sense for you to get a policy that charges you according to how much you drive, in combination with how well you drive.
It requires you to place a small device on your car that transmits information to your insurance company.
You may be surprised by how much car insurance rates can vary among providers – for the same coverage levels.
It’s a good idea to consult with an insurance expert.
They’ll be able to give you the best advice for your situation.
You just need the right information.
Be a safe driver, ask what discounts are available to you and pay attention to your credit score.
You’ll get the best rates for the best coverage.
Have you asked your insurance expert about the discounts you could be getting on your car insurance?