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Tips For Lower Auto Insurance Rates Without Sacrificing Coverage

Tips For Lower Auto Insurance Rates Without Sacrificing Coverage

Everyone is looking to save money these days, and auto insurance is one of

the most common expenses people shop around for in order to reduce costs.

There are some great ways to save money on your auto insurance, and the

good news is you may not even need to switch insurance companies to save

money—nor should you have to give up any of your coverage. Here are

some of the easiest and most common methods of saving money on your

auto insurance.


What Are Your Deductibles?

The deductible is the amount that you would have to pay out of pocket in the

event of certain types of claims. Most people opt for low deductibles so that

they won’t be responsible for coming up with much cash. This isn’t always

the smartest way to go, however. Higher deductibles can save you a lot of

money in the long run, even if you do wind up having a claim in which you

have to pay that amount.

If you are a good driver, the odds of having an at-fault accident are relatively

low. If increasing your deductible saves you hundreds of dollars a year, you

won’t have to go many years without an accident before you have already

saved more than enough to cover that increase in the deductible.


Are You Getting All The Available Discounts?

One of the things many people don’t consider when shopping around for car

insurance is shopping for homeowner’s insurance at the same time. Why

should you do this? Most companies offer a hefty discount on both policies

when they insure your home and auto together. Check if your current auto

insurance company offers homeowner’s as well, and you might not even

have to bother shopping around. In addition to the savings, you will also

have the convenience of everything being in one place.

There are other discounts you may be missing out on as well! Be sure to

check regularly with your agent or insurance company to find out if all the

discounts you qualify for are being applied to your policy.


Are Your Cars Rated Correctly?

Auto insurance rates are calculated based on a number of factors, including

the number of miles you drive each day. If you are a stay at home parent

but your car is being rated as a commuter vehicle, you could be paying too

much. If you have changed jobs and now commute only five miles each day

rather than 30 miles, your yearly average will drop, which could have an

effect on your rates. Be sure to advise your agent when changes in your

driving habits occur! You could be reaping the benefits.

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