Car insurance coverage could be standard all through your state but insurance premiums are bound to vary. Insurance premium would differ from one insurance company to another by hundreds and even thousands sometimes. The best possible way of making sure that you are able to get the most attractive base price for your specific policy is to go on comparing. Compare, compare and compare should be the mantra for getting the cheapest car insurance.
All Vehicles on a Single Policy
All your vehicles should be on the one and the same policy. You could avail the multi-vehicle discount that is offered by insurance companies to their customers, who go about insuring more than one vehicle on the same insurance policy. This could prove to be beneficial and profitable to you as you could save on both cars substantially.
Stick to the Same Insurance Company for Both Car Insurance & Home
If you are insuring your vehicle with the same insurance firm with whom you have your home insurance, you would be eligible to avail another impressive discount called the Multi-line discount. You are offered these savings basically as an incentive for getting the property insurance business as well. All this is completely legal and definitely, a wonderful way of enjoying another discount and an impressive cut in your premiums.
Increase Your Deductibles
Generally speaking, the higher the deductibles, the lower would be the insurance premiums. An insurance policy is bought for covering any damages that you would not be able to afford or manage on your own. If you are capable of paying for your $1,000 repair job, you could then increase your deductibles to about $1000. You could then be allowed to pay reasonably less for the insurance.
Older Vehicle & Collision Coverage
If your vehicle seems to be getting older, you could wisely consider getting rid of the collision coverage on the auto insurance policy. However, this is not really a very easy or straight forward decision. You should consider weighing the actual cost of the precise collision coverage with the exact value of your vehicle and the deductibles chosen by you.
Driving a Low-Risk Vehicle Helps
Insurance rates for various vehicles or cars are based primarily on the earlier claims history for that specific car. A car that has higher chances of being involved in an accident or stolen would require you to pay more for insurance. While buying a brand new vehicle, it is a good idea to examine how your selected car rates currently. You may be thrilled with the idea of purchasing a huge SUV. However, remember that this is a top bracketed vehicle and could be far more expensive than opting for a lower-cost smaller commuting vehicle. You could choose older vehicles, instead of the latest models for cheaper insurance costs.
Drive with Utmost Caution & Care
Your driving record would play a pivotal role in determining the exact insurance rate for you. Tickets would be tarnishing your driving record and adversely affecting your insurance rates for as many as three years, while accidents would affect your insurance rates negatively for almost six years. If you have a poor driving record you could end up paying a substantial extra premium through the years. So try to keep a flawless driving record. The more moving violations and accidents you are involved in, you would end up paying more in terms of your annual insurance premiums.
Installation of Anti-Theft Devices Is Super-Effective
You could effectively lower the insurance annual premiums if you go about installing anti-theft devices in your car. Consult your insurance company or your reliable agent about buying the devices that would effectively lower premiums. LoJacks and car alarms could be installed for this specific purpose.
The price of car insurance is bound to go up in the years to come. However, there are several effective ways for reducing the impact and the tips provided above should be helpful in leading you in the correct direction.