by: Wendy Moyer
There are quite a few things that anyone can do to get the best car insurance quotes and pay the lowest monthly premiums for their automobile insurance. This article takes a look at some of the easiest things you can do to lower your monthly auto insurance premiums.
How Much Is Your Car Worth?
First, you should not over insure an inexpensive car. If you own an old inexpensive car and your monthly insurance premiums are more than 10% of your car's value then you are paying too much for your insurance. You should consider changing your coverage to "liability only" because doing that will lower your rates.
How Good Is Your Credit?
Next, check your credit rating. If there are any mistakes on your credit report it could be one of the main reasons why your insurance premiums are higher than they need to be. When you find a mistake fix it as soon as you can.
Are There Discounts Available?
When you speak to your auto insurance agent find out if there are any discounts or promotions available. Often there are unadvertised discounts available that you will have to ask about before signing up for a plan.
For example, if you have taken a defensive driving course you might be eligible for a discount. Or, if you have children who have GPAs of at least 3.0 then you could be eligible for a good student discount.
Make Your Deductibles Higher
Your deductible is the amount of money you will have to pay if you submit an insurance claim. One of the ways you can make your monthly insurance premiums much lower is by raising your deductibles.
For example, by raising your collision and comprehensive deductible from $200 to $500 you can potentially lower that part of your insurance premium by up to 30%. And, if your raise the deductible to $1,000 you could lower that component of your premium by as much as 40%.
Get a Number of Car Insurance Quotes Online
You can save a lot of money by shopping around. And, since the advent of the Internet, it is very easy to get car insurance quotes from several companies in a very short amount of time. You should probably get quotes from at least four different insurance providers to make sure that you are getting the best coverage with the lowest rates from the highest quality company.
So, in addition to checking for the cost of the premiums, also look for a dependable insurance provider who has a high standing and good, strong history. You want to be assured that they will be there for you if you need them. A.M. Best provides ratings of a lot of different insurance providers, as does the Standard & Poor's website.