Vehicle Insurance: Tips For Big Savings

August 22, 2017 · Posted in General Articles on Car Insurance 

There are a good number of ways open to everyone who wants to enjoy low cost automobile insurance. But at the same time, some options folks employ in order to reduce cost generally result in less than adequate coverage. This is, nevertheless, not the case with the tips I’ll share with you in this write-up as you’ll save while you maintain enough coverage….

1. Several insurance carriers will hand you a discount if a child on your auto insurance policy goes to college and does not use the vehicle within that time frame. If your child is is away at school then you should discuss with your auto insurance agent about the possibility of getting this discount. I must stress, though, that some insurance providers don’t give this.

2. Some cars cost much to insure. So as you look out for the wonderful specs of the car you want to buy, take some time to find out how much it typically costs to insure. Two things that will make you pay more for auto insurance are a vehicle’s crash rating and theft rate.

Also, cars that generally cost more to repair also cost more to insure. This is my personal opinion; but it does make sense to choose a comparable car that is less expensive to insure.

3. If you opt to pay your premiums monthly, you’ll pay more expensive rates. Notwithstanding the fact that this option is always more convenient, it costs more for some reasons..

Every check that is processed attracts a charge. All through a year, your monthly checks would be processed differently since they are all different transactions. You’ll then have to pay the total of twelve transaction charges..

Besides there are also administrative costs that are incurred due to the monthly payment option. For instance, it costs some money to send payment notices monthly.

These and more are then included in your premium thus making it more than if you paid yearly.

4. A simple but effective way of lowering your vehicle insurance rate is by authorizing an EFT (Electronic Funds Transfer). it authorizes your bank to credit your insurance provider with your payments without any intervention from you until you advise otherwise. This reduces an insurer’s overhead by eliminating the need for payment notices or checks. This is why this results in cheaper rates.

5. Visit a minimum of five insurance quotes sites. Using at least five quotes sites increase the chances that you would get more affordable auto insurance quotes. This is because insurers not covered by one site would be covered by the other.

Moreover, you know that because your chances of receiving lower auto insurance quotes is tied to the number of quotes you receive, the more insurance companies you get quotes from, the better your chances will be.

Obtaining your auto insurance quotes online will help you save much more if you invest around 25 minutes to ask for quotes from a minimum of 5 insurance quotes sites.

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