Can You Save 15% on Car Insurance? |
By Kari Johnson on February 10, 2011
.jpg.aspx?width=75&height=75) We all need it. Driving without car insurance, while illegal in many states, is asking for trouble no matter where you are. More likely than not, you will have to pay car insurance. The question then becomes, “How much?” Your car insurance rates depend on a number of factors that you can control.
- The company itself: Insurance is like a big pot of money. Everyone puts money in and when one of those people needs some of it, they take it out of the pile. The more people the insurance company gets money from, the less each individual will have to pay.
- Your driving record: This includes how long you have been driving and how safe of a driver you are, meaning that the more experience you have with fewer problems (tickets, accidents, etc.), the lower your rate. You may not be able to change how many years you have been driving, but you can be sure to drive carefully.
- Your car: When you see a sports car on the road, you assume they will probably speed up. Insurance companies make the same assumption. The flashier your car is, the riskier you will be to insure, so that they charge you more money for it. Also, some cars come equipped with certain safety features that the insurance companies like to see. Check your company’s list against your car, and you may save some money.
- The policy: This seems obvious, but the price you pay should depend on the coverage you get. In other words, the higher your deductible, the lower your car insurance rates. This may be a risky move though. If you get into an accident and cannot afford to pay your deductible, this will create some problems.
Make sure you look into your car insurance policy to be sure you are receiving all the discounts you can. Some companies may have more discounts based on your age, occupation, or record. You might even receive a discount thanks to other organizations you belong to (AAA anyone?).
And shop around. No two car insurance companies are exactly alike. One may have more discounts that you qualify for or charge less insurance based on the car you drive. Weigh every option. It might take more than fifteen minutes, but it could also save you more in the long run. |
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