Is your car insurance policy getting you the best value? A horse or a bicycle can be very appealing these days, given the rising cost of gasoline. Remember that a bicycle’s top is always down, even in bad weather. To save some money, make sure you review your car insurance policy.
You may be eligible for a discount if you have had major changes in your life since taking out the policy. The rate can be affected by changes in your driving distance and mileage. You might see a drop in your rate if you move to a more convenient area since taking out the policy.
You should take advantage of all discounts. There are many discounts offered by each company. For teens, there are discounts available for students and drivers education. Check to see if your company offers these discounts. Consider getting a discount for multiple cars if you are looking to purchase a second vehicle. You should also consider discounts if your homeowners insurance is changed to the same company that your auto insurance. Many insurance companies offer additional discounts for multiple types of policies.
The prices charged by companies can vary greatly depending on the company’s loss experience in your area and your age. You don’t have to pay anything extra to get additional quotes.
Do rate comparisons to ensure that you get an apples-to–apples quote. While you may get a lower rate from other companies, they might offer less insurance. These are some things you should be aware of.
1. Check that the deductible is equal. You have two deductibles for your auto insurance policy: the collision deductible and comprehensive deductible. Collision coverage kicks into effect when you hit something. Comprehensive covers everything else, even hail damage and theft. The lower your rate will be, the higher the deductible. It is important that your quotes have the same deductible, or at least the closest to it.
2. Check to see if liability coverage is identical. Split coverage or a single limit is available for liability. The company can offer split coverage, such as 50/100/15. This means the company will pay $50,000 per person injured, $100,000 per incident and $15,000 for property damages. Although it is similar to a $100,000 policy with a single limit, this policy seems to offer more coverage. It is easy to see that the word appears. Split limits are best if more than one person is hurt. The single limit is better if only one person is hurt. You should never accept a quote for less coverage than what you have, and make sure to compare the cost of your current coverage with any new quotes.
3. Check to see if there are any extras on the policy. All policies should have uninsured/underinsured motorist coverage. Get it if you don’t have it. You have protection in the event that the other guy doesn’t have enough coverage. Your policy may include rental reimbursement and towing, which you may not want or need. Check to see if these are included in the quotes.
4. For multiple quotes, you can use the Internet. A single website can often offer up to 10 quotes simultaneously. These locations can be found and saved time. Don’t assume that an online quote will always be cheaper or offer inferior insurance. To get the best deal, shop around both online and offline.
You can save hundreds of dollars per year by shopping around and still get the same auto insurance policy, but at a lower price. Shopping around can open up your eyes to all the options and save you money.