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Tips for Lowering Your Car Insurance Rates

Posted by | Posted in Car insurance tips | Posted on 01-01-1970

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There are many factors that go into the price you pay for auto insurance, such as your geographic location, your vehicle, your age and your driving record. Many of the things that determine your auto insurance rates can’t be changed, but there are several things you can do to get the best deal possible. Here are some tips on lowering your car insurance rates.

Shop Around

A good rule of thumb is to request quotes from at least three car insurance companies. Be sure to request quotes for the same types of coverage among all of the companies so that you are accurately comparing the companies’ rates. An insurance company’s quote is not necessarily the best deal just because it is the cheapest. Evaluate the quotes carefully to make sure that they all offer you the coverage and benefits that you need.

Ask About Discounts

Many insurance companies offer discounts for things like insuring multiple vehicles, low mileage, loyalty to the company, having a good driving record, being a good student, corporate affiliations and even for setting up full or automatic payments. Ask about these discounts to see if you qualify for any, and you may find yourself paying less for your car insurance premiums.

No Extras

If you are really looking to reduce your insurance rates, a good way to start is by reducing your coverage. You may be paying extra for towing, roadside assistance or even rental car assistance. These coverage options are often not worth the extra expense, and if you have a new car, its warranty may already provide these benefits. Additionally, if you are driving an older car that is quickly losing its value, you may want to consider dropping your collision coverage.

Let Teens Use the Family Car

If your teenager has a driving permit or license, let the teenager share your car. If this is possible, your family will save a lot on car insurance because teenagers are very expensive to insure. Your insurance rates will go up when you have a teenager with a permit or a license living with you, so be sure to tell your insurance agent if he or she goes away to college or earns good grades. These things can earn you discounts on your insurance rates.