subject: How To Drastically Lower Your Car Insurance Premiums [print this page] If you've got car insurance, like most of us, you know what an absolute drag it is. Most people are kind of aware of the importance, if not the legal requirements to buy insurance, but few people take the time to really give it much thought. If you were to get into an accident, and didn't have any insurance, you would be in serious trouble. The person who you crashed into you would probably sue you. If you didn't have piles of cash in your bank account, then they would likely put a lien on your paycheck. This means that until your debts are settled, you are obligated to pay a quarter or so of your paycheck. Nobody wants to do that. But since you have to buy insurance anyway, you might as well get a good deal on it. In this article, you are going to learn just how to do that.
One of the easiest ways to decrease your premiums is to increase your deductible. This is the amount of money you've got to pay out of pocket if you ever get into an accident. The higher your deductible, the lower your premiums will be. Of course, if the time ever comes to pay your deductible, you've got to have the cash. A good idea would be to increase your deductible, and then save the difference that you'll be saving on your premiums. Once you've got enough to pay the deductible, you can start using your savings for something else.
Take a good look at your policy, and get rid of coverage that you don't need. Many buy insurance and just let the agent guide them. Usually, this is a good idea, but sometimes you might end up buying stuff that you don't need. Of course, you'll have to understand what's in there. Make sure your agent explains everything to your satisfaction. They are earning money for your premiums, make sure they earn it.
If you've got a good health insurance plan, then don't buy it under your auto insurance. That would be considered duplicate, or redundant medical insurance. You're already paying for it once, there's no reason to pay for it twice. Also, accident insurance is the cheapest medical insurance you can get.
If you really want to pay less money every month, then consider getting a cheaper car. The cheaper your car is, the cheaper it's going to be to insure. This may seem like a drastic lifestyle change, but if you want to save money, then you've got to do it.
If you drive a lot less, you'll pay a lot less. Consider riding a bicycle, or taking the bus, or ever car pooling. Especially if you drive a long ways to work, car pooling can help you save quite a bit of cash over the long run.
Adding safety equipment to your car, such as air bags and updated seat belts can dramatically lower your insurance rates, because they'll lower your chances of getting into an accident. Check with your agent for more details.
If you've got any younger drivers on your policy, or if you yourself is a younger driver, then there are specific discounts for this. For example, a good student discount can save you a couple hundred dollars a month.
These are just a couple ideas, but they are very helpful in reducing your rates. Just call your agent, and let them know that you mean business.
by: Winston Takeda
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