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  1. #1
    Join Date
    Oct 2011

    How to lower your car insurance rates

    Here's some free tips on how to lower your car or motorcycle insurance rates:

    It was not too long ago when contracts were made on a handshake and a promise. Individuals were not particularly concerned with things like insurance because they relied upon the goodwill of their neighbor to compensate them for wrongful damage. For a variety of reasons, including an increase in the speed and cost of auto wrecks, auto insurance soon became an important purchase for responsible individuals. Not long after, the federal government mandated that auto insurance be carried, at least minimally, by all car owners. The increase in the need for auto insurance over the last 10 years has led to increases in the complexity of insurance, while at the same time, amplifying the need to be more cost conscious in auto insurance purchases.

    Buying auto insurance today requires as much dexterity as buying the automobile itself. It is important to know the factors that an auto insurance company considers when offering quotes. This will allow you, as the consumer, to know what steps you need to take in order to qualify for a lower quote. The five easy steps to a lower insurance quote are:

    1. Portray yourself as a ŽsafeŪ candidate: Insurance companies are interested in managing risk. Consequently they offer drivers who are less likely to get into wrecks or at a minimum into wrecks of less severity, a lower insurance quote.

    -Maintain a clean driving record, free of traffic violations or accident claims.
    -Install anti-theft devices in your vehicle.
    -Attend a Drivers Safety Training program.
    -Buy a safe vehicle. The National Highway Traffic Safety Administration (NHTSA) and The Insurance Institute for Highway Safety together collect information on safety related aspects of different vehicles. Buy an automobile that is officially designated as ŽsafeŪ.
    -Park your vehicle in a garage.

    2. Show your Credit worthiness: As a risk management entity, insurance companies are also worried about getting paid on time. If you can show yourself to be credit worthy, there is less risk of you not making your payments on time, thus warranting a lower rate.

    -Maintain a good credit score and clear up any errors on your credit.
    -Cut down on the total number of outstanding credit cards to 2 or 3.

    3. Practice Financial Wisdom: The way in which you structure and pay for your policy can lower the risk that an insurance company faces with respect to you as a customer. By taking steps to lower their risk, you receive a lower insurance quote and policy.

    -Buy an annual policy instead of a six monthly coverage to get you a lower rate that remains the same for a year.
    -Opt for automatic payment deductions from your bank account or your credit card to avoid getting charged for mail payments.
    -Increase your deductibles on comprehensive and collision policies to reduce on the rates.
    -Get loyalty discounts by buying your home and auto insurance from the same company.

    4. Assess your Insurance Needs accurately: This is obvious, the more coverage you get the more it will cost you. Add-ons are killers in the insurance business, strip your policy down to just the minimum of what you need.

    -If your vehicle is not used much or you have an old car with little market value, opt for minimum liability alone. It will cost you less.
    -After fulfilling the legal mandate on auto insurance, insure according to your needs alone.

    5. Other wise things that you can do: There are a number of other considerations that go into your insurance quote. Some of them are not reasonable steps to take, while others you can do with little effort which can translate into substantial savings.

    -If your car is used only for a particular purpose, make your agent aware of it, as this will limit the cost.
    -Students that make good grades are often eligible for a discount.
    -Give up smoking; it can help you get better quotes.
    -Change your occupation if you can help. A delivery boy carries a higher risk than a storekeeper.

  2. #2
    Join Date
    Jul 2014

    Re: How to lower your car insurance rates

    Great post! Thanks for that helpful tips :)

  3. #3
    Join Date
    Apr 2008
    Indiana, USA

    Re: How to lower your car insurance rates

    Not mentioned: Shop around all the different auto insurance companies.
    The company I have been with since I started driving charges me $375 per year [*1] in my state.
    Geico quoted me $625
    Allstate quoted me $550
    "The General" quoted me $728
    Progressive quoted me $690
    A "family run" insurance company quoted me $1,480

    I believe most folks pay a lot of extra money for insurance - mostly due to them not bothering to sit down with each insurance companie's reps and finding out the real rates they will be paying.

    Note: Prices very by age, state, and driving record.
    [*1] - (( I have a multi-driver discount, accident free discount, ticket free discount, and loyalty discount. ))

  4. #4
    Join Date
    Feb 2016

    Re: How to lower your car insurance rates

    Nine Ways to Lower Your Auto Insurance Costs

    Download a PDFversion of this brochure.
    One of the best ways to keep your auto insurance costs down is to have a good driving record.

    Listed below are other things you can do to lower your insurance costs.

    Prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. (State insurance department phone numbers and Web sites can be found on the back cover.)
    You buy insurance to protect you financially and provide peace of mind. Itís important to pick a company that is financially stable. Check the financial health of insurance companies with rating companies such as A.M. Best (www.ambest.com) and Standard & Poorís (www.standardandpoors.com/ratings) and consult consumer magazines.
    Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet.
    Donít shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company. Pick an agent or company representative that takes the time to answer your questions. You can use the checklist on the back of this brochure to help you compare quotes from insurers.

    Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the carís price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety (www.iihs.org).

    Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.

    Consider dropping collision and/or comprehensive coverages on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of cars. Or you can look it up online at Kelleyís Blue Book (www.kbb.com). Review your coverage at renewal time to make sure your insurance needs havenít changed.

    Many insurers will give you a break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! You may save money buying from different insurance companies, compared with a multipolicy discount.

    Establishing a solid credit history can cut your insurance costs. Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims. To protect your credit standing, pay your bills on time, donít obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.

    Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also apply to drivers who car pool to work.

    Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible.

    Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate.
    When you comparison shop, inquire about discounts for the following:*
    Antitheft Devices
    Auto and Homeowners Coverage with the Same Company
    College Students away from Home
    Defensive Driving Courses
    Drivers Ed Courses
    Good Credit Record
    Higher deductibles
    Low Annual Mileage
    Long-Time Customer
    More than 1 car
    No Accidents in 3 Years
    No Moving Violations in 3 Years
    Student Drivers with Good Grades

    *The discounts listed may not be available in all states or from all insurance companies.
    The key to savings is not the discounts, but the final price. A company that offers few discounts may still have a lower overall price.

  5. #5
    Join Date
    Apr 2014
    Harlem Represents!

    Re: How to lower your car insurance rates

    I'll tell you how to lower your insurance rates:

    A) Add the car to your girl's policy
    B) Get a policy, get the card then cancel the policy.

    You're welcome

    Please help our church -
    Your donations no matter how small are appreciated :)

  6. #6
    Join Date
    Jun 2016

    Re: How to lower your car insurance rates

    I have so many insurance providers and mostly they are providing services on car insurance. The details you can read from this post provided website. That was clearly said to you to get more knowledge on every topic and thanks for the info.

    car insurance

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