In a world where inflation seems to be the call of the day, it’s no surprise why basic necessities and commodities have observed their fair share of price hikes. In particular, we’re talking auto insurance today.
Getting an auto insurance policy that not only suits your liking and interests but also one that’s in tune with your overall requirements is so important in a time like today. But believe it or not, it’s not always easier said than done.
Below, we’ve outlined the best tips and tricks that are straight from the experts. And we can surely say they’re your best bet at getting cheap car insurance rates.
It will always pay off to shop around
It’s amazing how shopping around for price quotes can lead to you availing the best purchase for auto insurance coverage. Prices vary from one company to another, so you’re bound to get a good bargain when making comparisons. Getting at least 3 price quotes is recommended and this can be done through direct calls made to the company or through access of information online. Price alone shouldn’t be the basis of your decision, ask friends and relatives for feedback as well as search the company’s past history before passing any judgment.
Comparing auto insurance quotes is of the utmost importance
Believe it or not, comparing insurance costs before buying a new or used car can really make a difference. Premiums for car insurance can be based on several things including the car’s price, repair costs, safety record and the liability of theft. Numerous auto insurance companies provide discounts for features that provide safety and prevent theft.
Clean credit score histories go a long way
One of the simplest ways of lowering your auto insurance costs is through a clean and tidy credit score history. This is because an individual that effectively manages their credit records is bound to make fewer claims. This includes paying bills on time, maintaining low credit balances and avoiding the need of unnecessary credit. Ensure your credit history remains accurate by correcting promptly any errors that may occur.
Raise your deductibles in an appropriate manner
Raising your deductibles will almost always lead to lower auto insurance costs. Deductible is the name given to an amount paid before the auto insurance policy actually begins to kick in. The rule of thumb to remember is that the higher the deductible, the lower the costs and the more the savings. However, always ensure that when asking for a high deductible, you have enough money set aside in case of a claim.
Always inquire about any other possible discounts from your insurer
A question asked is always a sign of a good buyer. As a driver who is about to purchase an auto insurance policy, inquiring about any possible discounts that may affect your costs is crucial. With that being said, discounts vary from state to state and from one company to the next. Some of the common forms of discount that may be applicable to you include the following:
- Decreased rates for senior citizens.
- Lower annual mileage claims.
- Immaculate accident history, with an estimate of 1 accident in the past 3 years.
- Good student discounts for high achievers.
- Homeowners as well as auto insurance coverage taken aboard by the same company.
- Installation of anti-theft devices.