Auto Insurance Tips That Could Save You Big Time Money
By: Forge Financial Freedom
Tags: Money, Life Lessons, Automotive, Finance, Life

If you’re searching for a good, dependable auto insurance company (or just looking to save a buck), you know how confusing it can be to compare insurers and plans.

Not only do you need to compare rates, but also look into how trustworthy the companies are.

Here are some solid tips on getting a great deal on your new insurance and improving your existing coverage.

Ways To Lower Your Premium

In certain states your auto insurance premium will go down if you take a course to improve your driving skills.

Find out more about this at your local secretary of state or department of motor vehicles.

You should not trust any other resources to find an approved driving course.

Taking this step is one way to show your automobile insurance company that you are serious about being a conscientious and safe driver.

It can reduce your chances of having a car accident, and it will save you money in the long run.

Another simple way to lower your auto insurance premiums is to ask if there is a discount for security features.

There may be discounts for features such as steering wheel locks, auto tracking devices and auto alarms.

These features lower the risk of loss for the insurance company and they may be happy to compensate you for it.

Don’t Lend Your Car To The Uninsured

Make it a point to never lend out your car to any other drivers who are not insured.

Don’t assume that others have insurance, ask them.

If you loan your car to an uninsured friend and they cause an accident in your car, your premium will go up, and you will be liable for any claims that exceed your coverage.

Get Only The Coverage You Need

When you are considering which policy to buy, make sure you carefully consider how much coverage you truly need.

Do you want both collision and comprehensive coverage or just one?

Also make sure to compare policy prices from different companies, as similar policies from different companies can vary significantly in cost.

Know What Discounts Are Offered

Make sure you are getting all the discounts available to you.

If you have other insurance, such as home insurance or an umbrella policy, you may be eligible for a discount based on this.

You may also get a discount if you are over 25, married or a college student.

Pay In Cash

If you can, you should try paying for your car with cash instead of financing or leasing it.

You can save a good amount of money because you will not be forced to pay for insurance to cover the cost of the vehicle in case it is damaged in any way.

You also avoid the interest charged over time from financing.

Final Thoughts

As you can see, there’s a lot of knowledge that goes in to selecting the right auto insurance / benefits for your needs.

Now that you know what needs to be done, you can make an informed decision about your insurance provider or to negotiate your existing premium.

Going in with a prepared will undoubtedly save you a lot of money in the long run.

Make sure to keep this information in mind, and good luck!

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