Cheap Insurance Secrets
Have you ever wondered how people save so much money on their car insurance? They might be tricking the system with cheap tricks like not carrying a spare tire, sharing their point of sale receipt(s) for each vehicle, or using only one vehicle. However, there are plenty of other cheap insurances that aren't as susceptible to these tactics. This blog post provides an introduction into cheap insurances and their benefits.
It's hard to imagine how much easier it can possibly be. However, the better your insurance rates are, the more comfortable you can be with saving money. There are no hassles involved with cheap insurances so they certainly see things in a different light. For example, they don't carry collision coverage since its usually an overpriced insurance that should be avoided as much as possible.
When it comes to cheap insurances and their techniques, there are only a few rules to follow; however, if you do follow these tips, you'll save thousands of dollars on your auto insurance!
Cheap Auto Insurance Tips
1. Don't Buy Collision Coverage: Collision coverage is one of the most overpriced types of car insurance out there today. Since it's not required by the government, most companies overprice the coverage and force you to buy it. However, if you don't carry collision coverage, you'll cut your insurance premiums in half. To cut your premiums even more, turn down the deductible on your policy as well.
2. Drop The Extras: There are many extras that you can pick up when buying car insurance such as rental car coverage and personal injury protection; however, they're usually not worth it since they're overpriced. Neither of these features will make a significant impact on your quality of life if something happens so use this tip to lower your overall premiums (and save yourself some money).
3. Don't Buy Any Extra Coverage: A lot of people use the same vehicle for their daily commute to work and worry about the extra coverage on their policy. The truth is that this will likely not affect your rates and it's usually priced at the same rate as an individual policy. If you're insuring more than one vehicle, simply pay for a separate policy for each car and save money!
4. Don't Skip The Physical: Car insurance companies require you to be able to prove that your vehicle is insured before they'll sell it. If you fail to do so, they'll charge you extra if you ever file a claim. Always have the insurance agent check your vehicle's odometer so you don't run the risk of paying for coverage that doesn't really exist.
5. Don't Buy Enough Coverage: It's a lot cheaper to go over your coverage limits than it is to pay out a claim. Plus, the extra premium will likely be much higher than you would have paid if you had bought enough coverage in the first place.
6. Don't Overlook The Personal Details: A lot of drivers are concerned about their dangerous driving record and wish to avoid any accidents that might affect it. However, this is something that should not be ignored since it can greatly influence your rates and sometimes even add thousands to your annual premiums.
7. Be Aware Of What You're Getting: Make sure you understand exactly what you're getting in your policy and if you're getting safe coverage. Most companies have a lot of loopholes in their policies and it's easy to simply overlook them. If you do, be sure to ask plenty of questions about the coverage and fix any problems before they become more expensive.
8. Stay Current: It's essential that you stay up-to-date with your auto insurance policy because home insurance doesn't update as regularly as car insurance does. Whenever there is a change, such as the expiration date for your auto policy, make sure to notify your agent so they know to up the rates accordingly (or contact them right away).
9. Don't Forget About The Rental: If you do have additional coverage for your car, make sure to add this as well. Whether it's car rental insurance or automobile liability insurance, these policies can save you a lot of money on your auto insurance premiums if you already have it.
10. Don't Lose Your Receipt: Another way that insurance companies can keep tabs on your driving record is by checking the mileage that you log each month. If they notice that you're using your car less than usual, they'll assume that you've sold it or lost it. In order to avoid this, make sure to keep a record of your mileage and have the original receipts for each trip.
11. Choose Your Car Wisely: Just because your friend owns a sports car and loves how fast it's capable of going doesn't mean you should follow in his footsteps. Sports cars are some of the most expensive types of vehicles to insure so if you're looking for cheaper coverage, try something else instead.
12. Change The Name: When purchasing a vehicle, it's important to make sure that the car's listed in your policy. However, you can easily change the plate number and address on the certificate of title. This will prevent as many claims as possible and save you tons of money on your premium!
13. Get Your Car Inspected: When looking for a new or used vehicle, make sure to inspect the underside for dents or scrapes and ask for an inspection from a reputable mechanic. If they find anything that might affect your car's coverage, be sure to fix it before you sell your vehicle so you don't end up paying more than necessary!
14. Don't Believe The Hype: There are a lot of rumors about insurance companies these days but the fact is that they're all legitimate sources. Be sure to stay informed of any changes to your policy and be sure to check them over before paying your premium. You may have to pay a few extra dollars; however, if you take the time to read your policy, you will avoid tons of headaches (and save money!).
15. Don't Forget About Your Education: A number of people make the mistake of buying over their coverage age just because their car was old when they got it.
Conclusion:
Insurance companies are willing to work with you to figure out what suits your budget and how much coverage you need. Make sure you shop around for the best deals and compare coverage levels based on your needs. If you take the time to research your options, you will save yourself some money and hassle in the long run!
What methods do you use to lower your auto insurance rates? Share any tips below!
Auto insurance can get extremely expensive depending on what type of vehicle you own. However, if you're ready to change the way that it's handled in your household, here are some smart tips for lowering auto insurance rates:1.
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Cheap Insurance Secrets