Getting the best insurance at the best rate is much more essential these days because of the rising cost of car insurance and the raising number of car accidents. If you follow these three steps below, you will be able to save a lot of money on your car insurance.
Car insurance tips
1. Increase your deductibles. If we want to give a clear explanation on deductible, we can say it is the amount you pay on a claim before your insurance kicks in. Because insurance companies will increase your rates if you file too many claims, a lot of us never think about filing our claims for small amounts of damage. So the only thing that makes sense for you is increasing your deductible to an amount which you are comfortable with.
Your yearly premium will be cut by 15% to 30% if you increase your collision deductible from $200 to $500. If you increase it to $1,000, your premium can be cut in half.
2. One of the best ways to save up money on your insurance premium is shopping for quotes. If you want to find the cheapest quote, there are a lot of websites on the internet you can use which offer different quotes from different companies. I personally know a lot of people who by switching their companies, have been able to save up $500 to $1,000.
3. Dropping the collision coverage is always a good idea. As you already know collision coverage are the costs for repairing the damage of your car regardless of who was at fault. If you have an old car and you are driving it, dropping your collision coverage might be a very great idea, if your premium is equal to 10% or more of your car’s value.
Depending how old your car is, if you drop your collision coverage, you might be able to save $300 to $500 a year.
Car insurance tips
1. Increase your deductibles. If we want to give a clear explanation on deductible, we can say it is the amount you pay on a claim before your insurance kicks in. Because insurance companies will increase your rates if you file too many claims, a lot of us never think about filing our claims for small amounts of damage. So the only thing that makes sense for you is increasing your deductible to an amount which you are comfortable with.
Your yearly premium will be cut by 15% to 30% if you increase your collision deductible from $200 to $500. If you increase it to $1,000, your premium can be cut in half.
2. One of the best ways to save up money on your insurance premium is shopping for quotes. If you want to find the cheapest quote, there are a lot of websites on the internet you can use which offer different quotes from different companies. I personally know a lot of people who by switching their companies, have been able to save up $500 to $1,000.
3. Dropping the collision coverage is always a good idea. As you already know collision coverage are the costs for repairing the damage of your car regardless of who was at fault. If you have an old car and you are driving it, dropping your collision coverage might be a very great idea, if your premium is equal to 10% or more of your car’s value.
Depending how old your car is, if you drop your collision coverage, you might be able to save $300 to $500 a year.
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