Are you paying too much in auto insurance? Times are tough right now for just about everyone. Here are some tips to help you cut some fat from your car insurance budget:
- How is your credit rating? Believe it or not insurance companies give discounts to people with better credit. Get a free credit report to see if everything is accurate. If not, do your best to clean up any errors and consult with an expert on how to improve your scores. It could help you save money on auto insurance as well as get better terms on any future loans.
- The best way to have low car insurance is to drive a safe car that does not have a surcharge and possibly gets a discount. Before you buy a new car contact your insurance company and give them the list of cars that you are considering. They will be able to tell you which cars are less expensive.
- Are you an occasional driver? Tell your insurance company this because they may give you a discount. If you drive less than 7,500 miles a year you might receive a discount.
- Do you own your own home? What company insures your house? Ask them if they offer car insurance because you might get a break if they insure both your car and home.
- Consider increasing your deductibles on your comprehensive and collision insurance coverage. If your current deductible is $500 then ask how much your rates go down if your deductible is raised to $1,000. It might be worth to do it. A friend of mine called his Tampa auto insurance company and received a discount by doing this.
- How valuable is your car? If you are driving an inexpensive car consider dropping your collision coverage. Any claims are limited to book value so if your car is cheap then you may consider canceling this insurance.
- Don’t rush to file a small claim.You are usually better off just paying for the small repair out of your own pocket. The increase in your premium might be more than the actual repair.
- Do not assume that you will have the same insurance everywhere. Invest a few hours or a few days and call around getting quotes. You might find a substantial difference in premiums.
- Has your life changed in some way? Did you get married, buy a home or just got a little older? These things usually will help you get a reduction.
- Drive safely. If you don’t get into accidents then your rates will stay low. It is pretty simple – high risk drivers pay more insurance that low risk drivers.
- Are you buying insurance for your teenager? They are usually the most expensive group to insure. Consider letting them drive your car versus getting their own.
Slade Tanner writes in a blog about Tampa car insurance.
