10 Ways To Save On Car Insurance

For most people car insurance is a the single largest insurance expense after health insurance. Rates are high and are forever climbing, at least it seems that way. You can save money on your car insurance premiums by following these easy to implement steps.

1. Shop Around. Yes, it pays to shop and compare. Regulatory changes at the state level may have encouraged new companies to jump into the market, thereby increasing competition and reducing rates for consumers.

2. Raise Your Deductible. A $200 deductible sounds wise until you learn that the cost for having a deductible at this threshold can drive your rates through the roof. Consider a deductible as high as $1000 to save on premiums. You can always fix minor mishaps on your own.

3. Drop Collision. If your automobile is worth less than two or three thousand dollars, consider dropping collision altogether. Sure, you will get nothing from your insurer if your car is totaled, but the savings you realize by dropping collision can be used as a down payment for your next car.

4. Look For Discounts. If your car has certain safety features, make sure that your insurer is aware of this. Older cars, for the most part, do not have air bags but if you have a model that has airbags, you will save money on your insurance.

5. Business Deduction. If you drive your car for business, a portion of your insurance costs may be deductible. Conversely, your rates may be increased if your insurer knows that you use your car more for business than pleasure.

6. Combine Policies. Purchase your homeowners, auto, and life insurance policies from the same broker and you may save on your premiums. Some insurance companies reward policyholders if they "one-stop" purchase all of their insurance needs through one company.

7. Consider Before You Buy. The Porsche Boxster may be your ideal car, but it could also sharply raise your insurance rates. Maybe a less sporty model would be ideal.

8. Driver's Ed Course. You may have taken a driver's education course and your insurance company has not factored that in when determining your premium. Let them know that you are a safe driver!

9. Deleted Points. If you had moving violations that were reported to your insurance company, make sure that your insurer adjusts your premium downward if several years have gone by since the occurrence. You could be paying a premium higher than you deserve.

10. Check Your Policy. If the insurer has the wrong address, town or zip code on your policy you could find yourself paying more than you should.

Reducing your car insurance costs should not be an impossible feat. By following these steps you should realize some savings the next time your policy comes up for review.

Matt Keegan writes articles designs websites through his online business at http://www.thearticlewriter.com

Latest News


WNCT

Insurance rise at coast could help protect plan
Forbes, NY - 2 hours ago
By GARY D. ROBERTSON , 12.03.08, 11:58 AM EST Property owners in 18 coastal counties soon will pay more for insurance premiums through a state-sanctioned ...
Insurers Urge Surcharges, Reforms to Fix North Carolina Beach Plan Insurance Journal
Insurance rise at coast could help protect plan Rocky Mount Telegram
Coast's risks may sting state News & Observer
all 27 news articles

NIIT Technologies Announces Key Appointments to Insurance and ...
MarketWatch - 6 hours ago
Goutam Kundu, an Insurance industry specialist joins NIIT as Global Practice Head - Insurance Vertical. In this role he will work closely with the sales ...

Life Insurance Patent Issued for Future System Advisors, LLC
MarketWatch - 5 hours ago
The FSLM is an entirely new form of life insurance that solves many of the problems caused by traditional product chassis, such as UL and VUL RGA Financial ...

DTRIC Insurance Company in Production With DRC's DecisionMaker for ...
MarketWatch - 6 hours ago
(DRC) today announced that DTRIC Insurance Company is now in production with DRC's DecisionMaker Policy Administration System. ...

Convergence of Negative Economic Factors to Severely Test US ...
MarketWatch - 3 hours ago
These factors will force insurance carriers to adopt new skills and business discipline in order to survive the economic turmoil, according to new research ...

CURE Auto Insurance Announces the Launch of a Revolutionary ...
MarketWatch - 22 hours ago
PHILADELPHIA, Dec 02, 2008 (BUSINESS WIRE) -- Representatives of CURE Auto Insurance announced the availability of a revolutionary new alternative in auto ...
New car insurer in Pa. denounces ‘unfair’ practices Philadelphia Inquirer
all 12 news articles

Research and Markets: Insurance Technology Spending Forecasts ...
MarketWatch - 4 hours ago
The insurance technology spending forecast model provides a current and comprehensive assessment of revenue opportunities for technology providers across a ...

FHA Insurance Fund Has Fallen 39 Percent
Washington Post, United States - 12 hours ago
Instead, FHA borrowers pay premiums into an insurance fund to cover defaults and foreclosures. As of Sept. 30, that fund had an estimated $12.9 billion, ...

The Money Times

Affordable Health Insurance: A Memo to Obama
Spero News - 1 hour ago
If you already have insurance, the only thing that will change under my plan is that we will lower premiums. If you don't have health insurance, ...
Insurance Industry Releases Their Plan - Will The Media Question It? Huffington Post
Medicare waste Baltimore Sun
Sorting Out Health Cards and Insurance in Canada Shelter Offshore
SYS-CON Media - Helena Independent Record
all 51 news articles

HCC to acquire Surety Company of the Pacific
CNNMoney.com - 2 hours ago
NEW YORK (Associated Press) - HCC Insurance Holdings Inc. said Wednesday it will acquire Surety Company of the Pacific for an undisclosed sum. ...
HCC to Acquire Surety Company of the Pacific MarketWatch
HCC Insurance Holdings to acquire Surety Company of the Pacific ... RTT News
HCC Insurance agrees to acquire Surety Company of the Pacific - Update RTT News
all 14 news articles

Resources