GARYANDLANA

Auto insurance premiums vary widely from state to state and even within states. The same person may find swings of as much as $700 on the cost of an annual policy. Insurance agents are not legally bound to tell a perspective customer about discounts which may apply to his/her insurance. There are, however, things the consumer can do which may lower the price paid for auto insurance.

Higher deductibles

The single quickest and easiest way to lower your insurance premium is to raise your premium. Having a $1000 or even a $1500 deductible can lower premiums 15 to 20 percent. If you decide to go this route, consider putting the money saved the first year into an account earmarked to pay the deductible should you have any accident.

Investigate auto records

Your driving record may be unblemished but the record of the car model you own can also have an affect on your premiums. Insurance copies compile extensive reports on the way cars respond in accidents and how popular certain cars are with thieves. Cars with poor crash test ratings and cars that are frequently stolen cost more to insure. When buying a new car use an auto buyer’s guide to compare crash test and theft rankings.

Use the same insurance company

If you have more than one vehicle insure all of them with the same company. Almost all insurance companies offer multi-car discounts. Many companies offer further discounts if you use any other products they offer such as homeowners insurance and life insurance.
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The car insurance industry has got really competitive in the last few years, so prices haven’t really changed much. There are now over 100 car insurers to choose from, so there are some very good deals out there for those who are prepared to shop around. 23% of motorists still choose to insure with the same company as the year before, but they could undoubtedly save money if they did check out some other companies.

Motorists could be forgiven for not getting other quotes, it used to be a very laborious exercise involving long waits while getting routed through the call centre, and boring repetition of facts to sales advisors. Now, thanks to the internet, it’s all a lot more simple. Car insurers also offer extra discounts to people who buy online.

However, you need to consider the quality of the policy, not just the price:

• Check that your low quotation is not due to an extremely high excess.

• Check that you will get a courtesy car if your car needs to be taken in for repairs.

• Check that legal insurance cover is included, if you want it, and automatic windscreen replacement.

• Find out if there is an accident help line in case of an emergency.

It’s a good idea to ring the insurer direct to talk through the policy in detail before signing up online.

Money saving tips – recommended!
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