Simple Tips To Save You Big Money Each Month on Car Insurance
Most of us are aware of what insurance companies look for when deciding the amount of money you will pay them each month
. Generally speaking, the riskier of a driver they perceive you to be, the more you will pay. Young drivers under the age of 25, people with numerous speeding tickets and/or an accident history, and people who have been convicted of DUI can generally expect to pay more. No matter what your position in life is, however, it is very much possible to reduce the amount you are currently paying. How? The answer is by shopping around.The biggest mistake you can possibly make is to sign on with the first company that comes along. Keep in mind that insurance companies are businesses which are competing with each other to stay competitive. It is quite possible for young drivers with just a couple of years of good driving experience to switch insurance companies and save big money each month. Back in 2001 when I was around 21 and had only a year of driving experience, my premium actually went down AFTER I was in an accident. To date, that was the only accident I was ever in and I otherwise have a perfect driving record, but this should emphasize how critical it is to compare quotes from as many companies as possible before selecting your carrier.
The best place to do this type of comparison is online. Not only is it faster and more efficient to shop online, but you are also likely to get the cheapest rates. I strongly recommend that you compare quotes on independent sites not affiliated with any particular insurance company. If you go to one of the comparison sites of an insurance company, you may be presented with biased or misleading information that presents that company in the best possible way. It is also worthwhile to find companies that sell premiums for zero down. This gives you the flexibility to make monthly payments without having to come up with a big chunk of money up front. The downside to using this option, however, is that some companies may charge billing and processing fees which don't go towards your coverage and can really add up over time.
Once you have short listed the companies you may do business with, be sure to do all your due diligence on them and make sure you fully understand the terms and conditions you will be bound to. Don't just go with the cheapest option. Be sure to carefully evaluate the type(s) of coverages you will receiving for the premium you will be paying. Pay close attention to the company's reputation and its financial strength. For example, how quickly does the company respond to customer complaints and insurance claims? Companies with a stronger financial history are more likely to pay out on their claims in a reasonable time frame. You can also do this type of research online with a few mouse clicks.
Another tip I'll leave you with is to do your insurance shopping before you have even purchased your vehicle. Premiums vary greatly based on the type of vehicle you purchase and by doing this research beforehand, you are able to work out more accurately how much your final monthly payment will be. You do not want to get stuck with a vehicle with high insurance premiums that you can't afford. Take care and happy shopping!
Simple Tips To Save You Big Money Each Month on Car Insurance
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