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In nearly every state you have to purchase auto insurance if you
drive. Here are some tips for spending less on auto insurance
and getting the most for your money.
Ask Around
Ask people you know and trust what insurance they use. Find out
if they have ever filed a claim and how smoothly it went. Really
cheap insurance doesn't amount to much if they offer horrible
service.
Get Multiple Quotes
Get 3 or 4 quotes from different insurance companies. Write down
as much information as possible about each insurer. If the agent
or representative is not willing to answer your question it's
probably not a good company to buy insurance from. Don't buy
from the first insurance company you call!
Check Your Credit History
Some insurers factor in credit history when they calculate their
rates. Unresolved issues in your credit history could affect
your insurance rates.
Pick Your Car Wisely
The cost of the car, make and model (sometimes even the color)
will affect your insurance premiums. If you are buying a new car
be sure to check with your insurance company to find out what the
insurance for that car will be. If you have an older car and are
not financing you can get by with less insurance and save a lot
of money.
Ask About Discounts
Ask if there is a safe driver discount if you have a good driving
record. If you don't drive much ask about a low-mileage
discount. Here is a list of discounts that Insurance Information
Institute (www.iii.org) recommends asking providers about.
- $500 deductible
- $1,000 deductible
- More than 1 car
- No accidents in 3 years
- No tickets in 2 years
- Drivers over 50-55
- Driver training course
- Defensive driving course
- Anti-theft device
- Low annual mileage
- Air bag
- Anti-lock brakes
- Daytime running lights
- Student with good grades
- Joint auto and homeowners coverage
- College students
- Long-time customer
- Other discounts
There are a lot of discounts that may be available to you but you
often have to ask to get them. Create a table with the list
above for when you call around. You can find a printable table
at http://www.thriftyfun.com/downloads/auto.html to help you
keep track of the insurance companies you call.
Accident Prevention Course
Some insurance companies offer reduced premiums if you complete
an accident prevention course. Some insurance companies offer as
much as a 10% discount.
Reduce Your Coverage
If you are buying your car on time you will be required to have
comprehensive coverage but the day that you pay it off you can
reduce your coverage and save a lot a money. Less insurance
brings more risk but if you are a safe driver the odds are that
you can get by with liability and uninsured driver insurance.
Last But Not Least
Drive safe and watch your speed.
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