subject: Three Tips to Hunt the Cheapest Insurance Premium [print this page] Three Tips to Hunt the Cheapest Insurance Premium
Auto insurance can be incredibly expensive, depending on your driving history, the type of car you own and more. These factors directly affect the cost of auto insurance. Here are five tips to hunt for the cheapest insurance premium.
1 - Make Sure to Shop Around
Many drivers stay with the same auto insurance year after year without thought. Many drivers, however, can drastically reduce the cost of their auto insurance by shopping around. If you do find a better price, call your current insurance company and see if they can meet the price. Also ask your insurance company if you are eligible for any additional discounts, such as safe driver discounts or attending a defensive driving course.
2 - Group Policies Together
Many have multiple insurance policies for items like home, life, renter's and more. See if your insurance carrier offers other insurance products. If so, ask if you can group them together. Not only will you save on your auto insurance, you may save on other policies as well! Additionally, by grouping policies, you will only write out one check for payment instead of two or three.
3 - Consider Different Policy Options
One way to possible lower your auto insurance premium is to consider changing your coverage options. For example, by raising your deductible from the standard $500 to $1,000, you can significantly reduce the cost of your policy. It is important to remember that if you do this and get into an accident, that deductible comes out of your pocket.
Another coverage change you can make is to reduce or eliminate your collision coverage. For example, if your car is older and its value is less than $2,000, you probably do not need collision. It is important to discuss and completely understand how these changes will affect you with your insurance carrier.
These are just a few different ways to potentially reduce the cost of yourauto insurance premium. Make sure you completely understand how any changes to your insurance policy will affect your coverage before making any adjustments.
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