4 Things to Look for in Saving Money on Car Insurance |
Posted: July 5, 2017 |
Saving money on car insurance is something all drivers look to do, but it’s not always easy for them to do so. There are a few well-known tips that help you save money on your expensive premiums, but there are a few things people might not realize when they’re shopping for a new policy. Before you sign on the dotted line for a new policy, there are four things you should know about shopping for car insurance, finding the best rates, and knowing precisely what to look for in a new policy. It’s the best way to ensure you’re getting the best possible rate. You’re Paying for What You Need The first thing you must look for when shopping for a new insurance premium is the kind of coverage you’re getting with each policy. Is it what you need? Not everyone needs the same kind of coverage. Someone who has a car that’s older, paid for in full, and doesn’t have a lot of value left might not need the same kind of coverage as a person with a leased vehicle they owe tens of thousands of dollars on. This is when it pays to look at what you’re paying for so you know you’re getting a good rate. Your Credit is Good Another thing you must look for when shopping for a good rate on insurance is your credit score. If your score is low, a good rate might not be in your future. Most insurance companies offer lower rates to those who have good or excellent credit. Even if you know your credit is good because you do everything right, you still need to check. Mistakes are made all the time, and your credit could be affected without your knowledge. You don’t want to shop around for new insurance rates without first checking to see if there are any mistakes to fix on your credit report. You’re Getting the Right Discounts Discounts are a beautiful thing, and it pays to know which ones you’re getting and if they’re working for you. Be sure the agent knows what your car has in terms of safety features and upgrades so they know what discounts to offer. Are you a safe driver without any accidents or tickets on your record? You might be eligible for a safe driving discount. Another popular discount most people are unaware even exists is the payment discount. Most people pay a monthly payment to the insurance company, and that’s fine. However, there are discounts available for those who choose to make their payments a little differently. If you have your payments automatically debited from your account by your insurance company, you might get a discount. If you decide to pay your premium upfront rather than making monthly payments, you might get a discount. There are a lot of fees and discounts available to anyone who asks. The Cheapest Isn’t Always the Best The single most important thing you should know about car insurance is the cheap car insurance policy is only the best if it’s also the policy with everything you need. There are some companies who offer the best for the lowest rate, and there are others that offer very little for a low price. Know the difference and protect yourself from choosing a policy that’s not right for you. Your car insurance policy can be everything you want and more if you’re willing to take the time to shop around and figure out what works best for your family. Don’t be afraid to ask for discounts, even if all you’re asking for is a discount for being a long-time customer with a good driving record. You might be surprised just how much your current company is willing to work with you to lower your premiums if you simply ask.
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