Lowest Auto Insurance Rates 16 Easy Tips
One of your dreams is, probably, to get the lowest auto insurance rates ever
. Here are 15 things that will take you a long way towards fulfilling your dream.1. Shop around
Better said, shop around well. Insurance agencies rate cars, neighborhoods and drivers in terms of risk. They base their premiums on these ratings. However, some insurers are more adverse to risk than others. So, to get the lowest auto insurance rates, you need to shop around.
I don't mean you should contact 3 insurance agents and compare their rates. I mean, contact at least a dozen independent insurance agents, compare the rates they get you.
By the way, I suggest you use independent insurance agents because each one works with many insurance companies. If you go to a Farmer's agent, that agent will be able to offer you only what Farmer Insurance has.
2. Drive low risk cars
Insurers put cars in risk groups. The lower the risk, the lower the premium (all other things being equal). Talk to the independent agents about this, find out what's the lowest rated car you can see yourself driving, then go lower.
3. Don't mess up your credit (if you did, fix it)
These days, most insurance companies take your credit scores into account. Presumably, people with low credit scores are careless drivers.
4. Raise your deductible
I know you knew about this one. You probably know about all of the way to get the lowest auto insurance rates; but how often do you see all of them together? But have you acted on what you know?
The idea behind this one is simple: if you pay more, they pay less. They like that.
5. Get only the minimum coverage required by law
The minimum coverage required by law isn't much, so it's the cheapest. Doing this is a good move if you have an old car and don't have much of value and don't plan to, either. A bad move otherwise. But an option, nonetheless.
6. Don't get caught breaking the law
Or, at least, don't get caught breaking laws that go on your record automatically; get caught breaking only the ones they let you take a class in lieu of putting them on your record. Then take the classes.
Of course, not breaking the laws is even better. You could ding your car breaking a law or to and not get caught. Your car still needs work. Not to mention you're a better citizen, like you should be.
7. Don't sweat the small stuff
You buy insurance to cover yourself against loss you cannot handle alone. So, don't make small claims if you can handle them all by yourself. Even if you don't like handling them by yourself.
Why? Your insurance company will try to get the money they spend on you back, they'll raise your rates. For a long time. $200-$300 a year for 5 years is more than the $789 they paid to fix your bumper.
8. Insure the real value of your car
If your car's Blue Book value is $13,500, don't insure it for $17,375. You only get back $13,500 if it's totaled and properly insured. Insurance companies have access to Kelley's Blue Book too. And to other methods of appraising cars.
9. Don't have any additional drivers named on your policy
If your spouse, significant other, or child should be named on your policy, name them. I'm talking about not having a reason to name anyone.
10. Make your car more secure
Car alarm, low jack, keeping your car in a garage over night and many other similar things reduce the risk of damage to your car and/or the risk it will be stolen. Therefore, insurers will charge less to insure it.
Different things get different discounts. Not all insurers give the same discount for the same security feature.
11. Avoid paying your premiums in installments
The fee insurers charge you each month is not much but it's still an expense you don't have (if you can afford the whole amount, that is). So, don't have it.
12. Live in neighborhoods will little crime
Specifically, live in neighborhoods where there's no, or little, car thieving and vandalizing.
Other types of insurance cost less if you live in safer neighborhoods
13. Insure all your cars with the same company
You get discounts on both cars. And they're not chump change, either.
14. Bundle
The same idea as above, but you get your other types of insurance from the same company that insures your car. You get good discounts for insuring home and cars with the same company. But don't stop there. Get all your policies from the same company.
15. If you're a student, get A's
Really. Insurance companies have noticed that students who get good grades are involved in fewer claims. So they give discounts for good grades.
16. If you're not going to use independent agents, buy online.
Insurers have fewer costs when you buy online, so, some of them pass the savings to you.
None of the above are difficult things to do. The more of the above you do, the lowest auto insurance rates you get.
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