20 Different Areas to Think About for a Cheaper Auto Insurance Policy ?

Last week, I saved $100 off my auto insurance policy. It’s really pretty easy and there’s probably nothing you don’t already know. All I did was take action. Call, comparison shop, and keep calling.
While I was looking through different options and telling my insurance agent again that his price was too high, I made a list of what could save us more money on auto insurance.
May you find more savings than I do by calling your agent today.
The Details
  • No Accidents – Everyone knows that having no accidents on record for three years (some companies want five years, others want ten years) lowers your rate but have you tried to find out recently?
  • No Violations (Tickets) – Read point #1 again please.
  • Experience – Young drivers are much more likely to get into car accidents so the premiums are high. It could be worthwhile to buy an old beater for your children while they gain experience. I’m sure they are happier since they have access to their own car as well.
  • The Car – How come no one really thinks about insurance when they need to buy a car? Some of us are are finally starting to worry about gas mileages but insurance can be a major car expensive. Calling (or easier yet, getting a free online insurance quote) before you buy the car can literally save you thousands of dollars for the few years that you own that car.
  • Has Air Bags, Alarm, Anti-lock brakes, Daytime Running lights – Getting an alarm installed is always safer but it may also make financial sense because it could lower your premiums.
  • Muted Colors – Ever noticed that bright colored cars are pulled over just a little more often? They are easier to spot in a sea of over-speeding maniacs on the road and the insurance companies know this too.
  • Good Student – Do you go to school and get good grades? Fax them your report car and get an automatic discount.
  • Seldom Drive the Car – Remember to calculate the mileage correctly when you get your policy. The less you drive your vehicle, the lower the premium should be.
  • Are Part of a Professional Association – Every insurance company partners with many professional associations, and it’s easier to find out if you can benefit by doing it online since they show the full list.
Decisions
  • More Deductible – Most of the time, you will find that raising the deductible will drastically lower your premium. If you average out the chances of accidents, it probably makes sense. With these statistics, the more cars your family owns and the longer the period that you are thinking about, the more reducing your deductible works in your favor.
  • Reduce Coverage – I know some friends that have older cars who get the least coverage they can get by for their car because it’s not worth the premium at all. Unless you have an expensive and new car, think about how much fixes could be and whether paying money every month is worth it.
  • Don’t Double Your Medical Coverage – Our medical insurance at work may already cover what our car insurance covers. Take some time and look it over to see whether we are double paying.
  • Ask Your Family to Help – It may not make sense for you to venture out on your own if you don’t have at least 10 years of driving experience. You are allowed to be on the same policy as long as you live under the same roof. Ask for help.
Take Action
  • Keep at It – Just keep calling every year. As you gain more experience on the road, age and also become married and have kids, your premium slowly goes down. Let those insurance agents know that you are on top of your policy and will always try to get the lowest price possible.
  • Ask for Discounts – When I called my insurance agent, he didn’t tell me about a new policy discount until I threatened to switch to someone else. Just because they are lazy doesn’t mean there is no ways to save.
  • Comparison Shop – That’s why it’s so important to comparison shop. When you have another quote in your hands with a lower price, everyone all of a sudden becomes attentive and willing.
  • Having Other Insurance with the Same Company – Always run the numbers, but most insurance companies give discounts if you insure different assets with them (house, car, boat and even life insurance etc)
  • Stay with the Same Insurance Company – I actually don’t think this is really worth the discount as competitive is almost always the best driver for a lower premium.
  • Take a Driver Improve Course for Elders – Those courses are BORING but if it means saving a few bucks, why not?
  • Pay Up Front Instead of Monthly – Some companies charge you less if you can prepay for six (or twelve) months. Every little cent counts.