Four Secrets to Save Money on Insurance for Your Car
Written by Bill Brankar on October 22nd, 2009
Saving on auto insurance isn’t a sure thing as some advertisers might have you believe but even so it’s almost a sure thing if you just look long enough. That’s because there are so many different insurance companies and types of insurance policies.
If you’re ready to go price shopping, be sure to get price quotes from more that one company. You need to understand that each company not only has different prices but also different ways of calculating those prices and many different coverage options. Make sure that you are comparing similar coverage from company to company.
Here are four tips for getting the most for your money when it comes to auto insurance.
1. Existing Relationships – don’t forget to check with your current insurance carriers particularly companies that provide you with insurance other than auto insurance. The relationships you have with your current insurance companies can easily lead to preferred auto insurance rates if you are already an established client with non-auto policies like homeowners or life insurance.
2. Associations – Some organizations and groups offer opportunities for special auto insurance rates. For example, the Automobile Association of America is an association that saves its members millions every year on auto insurance. You might also check other associations that you belong to including professional organizations, alumni groups, companies and clubs. Often these organizations offer special discounts with certain insurance companies, obtained through group rates.
3. Good Behavior Discounts – Good behavior covers a wide array of issues that insurance companies have found correlate to lower policy risks. Each company has different criteria for awarding good behavior discounts. For example, some companies give lower rates to students for good grades or for taking drivers education courses. Or adults might get a discount for an accident free driving record or for taking a defensive driving course.
4. Company Size – The size of the insurance company you use might also have an impact on your rates. Sometimes smaller insurance companies provide lower rates to a certain segment of the population or to people who live in a certain area, in an attempt to expand their customer base. Be sure to include at least one smaller company in your price quotation requests.
Comparing your current insurance rates with what other companies have to offer often pays big dividends. It may even be a good idea to do a price comparison every year or two since companies, markets, and economic conditions change rapidly from year to year.
If you look long and hard enough, you can usually find a lower rate or a better deal somewhere. Sometimes it doesn’t take much looking. Of course there is something to be said for sticking with a company if its been treating you right. Just be sure you’re not paying too much for that treatment.
Bill Brankar is passionate about helping people save money especially with auto insurance and other financial products. At his new site – general auto insurance you can learn more about cheap van insurance.
This entry was posted on Thursday, October 22nd, 2009 at 7:33 am and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Tags: auto insurance, automotive, budgets, Car Insurance, cars, family, Finance, Insurance, personal finance
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