subject: Tips on how to lower your auto insurance premiums [print this page] Tips on how to lower your auto insurance premiums
The world is not in a good financial state, and we have been experiencing a global economic crisis for a few years now. People has been losing their work, business have been closing their doors and luxury spending has decreased by a large percentage. Auto insurance or insurance of any kind, falls into a category somewhere in between luxury and necessity. Auto insurance is not a necessity to live such as paying your mortgage, neither is it a luxury such as buying a new flat screen television, yet people are essentially paying for something which they cannot see the direct benefit from, until or if the event of an accident does occur. It is for this reason that when people are facing financial challenges, auto insurance is one of the first ways people cut down on their overall expenses. Although cutting out your auto insurance is one of the easiest ways to put more money in your back pocket, it is not necessarily the wisest. Have you ever thought about how you would pay the lump sum amount which could run into tens of thousands if you were in an accident?
If you need your car to get around and cannot imagine life without your car then do not cancel your auto insurance, instead find out ways to lower you premiums, so that you can save money and be secure at the same time. These are some auto insurance saving suggestions.
If you do not drive your car often, and you have a low mileage, you can opt to take out a cover that allows you to pay according to your mileage. The auto insurance company will check your mileage periodically and you pay according to the mileage. This is a pay as you drive type of policy, and can help you save if you do not use that car that often, such in the case of only using your car weekends. In fact if you can get a lift with someone to work in the morning, or take public transport then you can decrease the mileage and then switch to this type of auto insurance product.
You can also pay less on your monthly premiums by increasing the amount of money you pay on your auto insurance excess. The excess amount is the amount of money you pay if you are in an accident. If you are a safe driver and have a good driving record then increase your excess amount so that you can lower your monthly premiums.
There are many tricks and tips which you can use to put money back into your pocket without having to cancel your auto insurance. All you need to do is search on the web for many other tips. Always remember that if you are cash strapped and yet depend on your car it will be a relief if something does happen to you and you have the insurance to cover the damages.
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