You can save on car insurance if you are not in such a hurry to secure coverage, but will take time to know what your coverage is and most significantly to do some research to get the best auto insurance rate available to you. Get multiple quotes from difference auto insurance companies and assess each of them.
Let’s say you were a full time college student and your parents paid for your car insurance while you were in college. Now that you have graduated from college and trying to make it on your own with:
It can get quite scary, let alone adding auto insurance to your monthly expenses. You can seek the help of your parents, not to pay your insurance, but to steer you in the right direction. However, below are several steps that will also help you in the process of seeking new automobile insurance.
Are You Appropriately Covered?
OK, now that you have your ride; new or used, never drive without car insurance. If your parents want to still pay for your auto insurance, then be sure that you are covered and have the right coverage. Be proactive, finding out if your insurance plan was renewed and possibly to cut the cost if the payments are too high.
If you are paying the insurance yourself, did you know what you could actually call the insurance agent and ask for a discount. Most insurance companies offer discounts for good driving history and student driving? You could also be discounted if you worked from home and did not use your car that much to commute back and forth. However, you may have to provide proof.
While you try to decide what your options for renewal are, the insurance company could extend your insurance policy for a few weeks, giving you time. While you are thinking about your renewal plans, consider a higher deductible. This will substantially reduce your costs. If you increased your insurance deductibles, for example from $200 to $500, your comprehensive and accident coverage could be reduced by up to 30 percent. However, if you had to file a claim, make sure that you have sufficient funds for the appropriate coverage.
Be sure to do some comparison shopping to find the best rate. Don’t settle for the first, which could be higher than normal. Most premiums are based on the price of the vehicle, repair costs, safe driving record and the probability of vehicle theft. Many insurance companies offer discounts for anything that lessens the risks of theft or injuries. Therefore, instead of buying a fancy vehicle, go for one with less likelihood of theft.
Homeowner’s Insurance and Security System
For those who own a home, buying both car insurance and home insurance from the same company reduces your monthly auto insurance premium. In addition, if you were to install a security system into your home, it also provides you with more discounts.
Did you know that if you were to maintain a good credit record, had no accidents or moving violations in the past 3 years or if you are a long standing customer, you can get added discounts? Yes! All you have to do is pick up the phone and call your insurance company.