5 Ways to Save Big Money on Auto Insurance
By Joshua Miller
There are several ways to save on auto insurance. Here are the top 5 methods
according to our experts:
1. Shop around.
One of your first steps should be to shop around for insurance.. You may be
surprised to learn that auto insurance premiums for the exact same coverage
on the same car can vary widely (by hundreds of dollars) between different
insurers, even in states that regulate auto insurance rates.
2. Lower coverage amounts.
You can also reduce the amounts of certain coverages. Be very careful here.
You may be able to lower your coverage amounts in other areas (such as
collision and comprehensive), but don't rush into such a decision just to
save a few bucks. The costs could far outweigh the savings. Talk it over
with a licensed agent first.
3. Increase your deductible.
For many people, raising the deductible on their auto insurance is a good
way to cut the cost of the policy. Sometimes you can reduce your annual
premium by 10 percent or more if you increase your deductible from, say,
$250 to $500. If you do this, however, make sure you have the financial
resources to handle the larger deductible when the time comes.
4. Apply for less coverages
One seemingly obvious solution is to eliminate certain types of coverage
from the policy. Most states require you to have liability coverage in most
states, but other non-mandatory coverages may be expendable. Be careful,
though, because you don't want to be underinsured if you're in an accident.
Even though medical payments, uninsured motorist, collision, and
comprehensive coverages may be optional in some states, it's usually not
advisable to get rid of them altogether.
5. Keep an eye on your credit report.
Your credit history is an important factor for most auto insurance
companies. Many studies have shown a correlation between your credit history
and the risk to an insurance company. Paying your bills on time and
maintaining a good credit history will allow you to enjoy lower auto
This article was from JM Unlimited Marketing, a florida based information
network. For more info on insurance click here: Auto Insurance
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