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How To Lower Your Auto Insurance Premiums

by Louise W. Rice
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It’s only natural to seek out the best deal on whatever product or service you are buying. The less you spend, the more money you have to spare. However, simply asking for a better deal will not always result in savings when it comes to auto insurance. It can take doing some of the following things to result in lower insurance premiums. 

Shopping Around

Shopping around for car insurance quotes can be one of the best ways to seek out the lowest premium without compromising quality. Take a look at your current policy, then request quotes for the same policy features from other companies. However, part of this process also involves ensuring that the companies you are requesting quotes from are well-regarded and reputable. Pay attention to online reviews, talk to friends and family, and check out their websites to ensure their reputation. 

Consider Higher Deductibles

Sometimes, to save money, you have to spend it. Opting for a higher deductible, the amount of money you pay before your insurance kicks in, may mean you pay a lower premium on collision and comprehensive coverage. If you opt for a higher deductible, ensure you have enough money set aside to pay for it if you find yourself in the position of having to claim. 

Reduce Coverage On Older Cars

If your car, truck, or SUV is worth less than 10 times your premium, it may not be the most cost-effective option to have collision or comprehensive coverage. If you are unsure whether decreasing your coverage is a wise decision or not, talk to an insurance expert who can assist in choosing a policy that best suits your needs. 

Seek Out Low Mileage Discounts

Not everyone spends countless hours behind the wheel, racking up thousands of miles. As a result, some insurance providers offer low mileage discounts. If you don’t have long commutes to get to your job, don’t travel a lot, or carpool to work, you may be eligible for such a discount if your chosen insurance company offers it.   

Inquire About Other Discounts

While low mileage discounts are among the more common offerings from insurance companies, some other discounts may also be available. If you are a long-time customer with your current provider, you may be eligible for what is essentially a loyalty discount. You may also be able to receive lower premiums by installing anti-theft devices, participating in driving courses, and having no accidents in at least three years.   

Consider Other Policies

When shopping around for a new, more affordable auto insurance policy, consider whether it might be worth adjusting your other policies at the same time. If you have moved into a new home and require house insurance, you may be able to lower your premium amounts by taking advantage of multi-policy discounts. 

There are many ways to save money on your everyday bills, but auto insurance may be near the top of a list. A few minor adjustments or changing your provider altogether might be a way you can save a significant sum of money each year.

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