subject: Shopping for cheap Car Insurance [print this page] Shopping for cheap Car Insurance
There are many things to consider when shopping for insurance and when trying to find cheap car insurance you've got to do your homework. Within the insurance industry, competition is brutal and rates vary tremendously. Take advantage of this by looking around and keep an eye out for promotions, which many companies offer at different times of the year.
1. Shop the Competition
There are a couple of websites where you can begin your search that will give you information on insurance company's features and strengths. But the best way to get your pricing information is to check specific car insurance companies and work with an agent. This can be done online, over the phone or in person. Be sure to let them know you are shopping around and it might help them to give you an even lower rate.
2. Discounts
Many times a company will automatically offer a discount to its potential customers. Don't expect the lowest rate is the first rate quoted. Ask for discounts! Some will offer a reduction in rate for lots of surprising life issues, like good grades or homeownership. It is up to you to ask for specific discounts since it is not in the agents or company's financial interest to freely offer everything available.
3. Your Driving Record
When looking for cheap car insurance, risk is the number one factor that companies look at when it comes to pricing a car insurance policy. If they feel you are at higher risk of accidents, then the more likely you will need to file claims. This costs them money so your policy will be higher. Some of the risks they look at are driving history, age and job. If you have a lot of tickets on your driving record or are under the age of 25, you will likely pay a much higher premium.
Keep in mind, that if you go for several years without any incidents on your record, many will automatically reduce your insurance costs. And if you get married or have health or other insurances with the same company, then more discounts may apply.
4. Don't Buy More Than You Need
Many people think they need full coverage on any vehicle they own. The truth is, if you don't have a loan that you pay monthly on for the car, or if it's older than a couple of years or worth less than a few thousand dollars, don't waste your money.Cheap car insurance is all you need. It could end up costing you more than the worth of the vehicle. Basic liability with a high deductible may be suitable for you needs and won't break the budget.
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