1. Compare Benefits and Premiums
Comparing auto insurance rates is simple with the unaffiliated online portals that allow you to get multiple quotes from several major insurers in just a few minutes. When you begin comparing rates, you really should be looking at the amount of coverage that each policy offers. Insurance companies may slip in a very low premium, but if you are looking for full coverage, you might find that the policy you were offered won’t fulfill your requirements.
Before you begin to compare quotes from different insurers, make sure that you have in mind exactly what you need in your policy. This will allow you to make a proper comparison based on what you will receive for the premium paid. The benefits may also differ from policy to policy; so make sure that you are fully aware of how much coverage a particular policy will afford you when you make your selection.
2. Consult a Broker
A broker can help you find affordable auto insurance policies. After you have conducted your own research, you may want to contact a broker to see if they can offer you a more reasonably priced policy.
3. Inquire about Discounts
Motorists are eligible for several types of discounts, but many insurers will not disclose this up front. If you simply ask your auto insurance representative, you may find out that you can capitalize on these discounts to lower your premiums. Some of the available discounts include the following:
- Online Shopping Discount
- Safe Driver Discount
- Good Student Discounts
- Discounts for Anti-Theft and Other Security Devices
- Early Signing Discount
- Senior Discounts
- Anti-Lock Brake Discounts
- Affiliation Discounts
The next step is to buy all of your auto insurance policies from the same company. If you have two or three vehicles that require insurance, use the same company to receive an additional discount on your premium. With the same approach, you may also be able to get discounted rates on your homeowners insurance and auto insurance by purchasing both policies from the same company.
5. Stay Loyal to Your Company
In addition to these discounts, you may find that your insurance company will reward you for sticking with their company for several years. If you have been with your insurance carrier for several years, inquire about any related discounts that you can take advantage of as a loyal customer.
6. Practice Safe Driving Habits
Your premiums will be calculated primarily based on the company’s assessment of your risk. To find the most affordable policy, you should drive safely on the road to avoid accidents and traffic violations. This alone can save you quite a bit or money on your auto insurance policy.
7. Opt for a Higher Deductible
If you want to lower your annual or monthly premiums, you can simply increase the deductible that you will pay if you are involved in an accident. Before you take this step, you should ensure that you will be able to afford paying that deductible if necessary.
8. Build Your Credit
Many auto insurance companies also base the amount that you must pay each year or each month on your credit score. If you are responsible with all bill payments, the insurance companies will consider you a less risky candidate for auto insurance. This will reduce your premiums.
9. Choose a Safe Vehicle
The type of vehicle that you drive will also impact your auto insurance rates, and it is best to consult your insurance company before buying a car to check the rates on that specific vehicle. In general, a safe car with anti-theft devices, anti- lock brakes, and low maintenance costs will have much lower premiums than a
vehicle that requires high-cost maintenance and does not have the necessary safety equipment readily installed.
By applying these tips to your search for auto insurance, you can effectively lower your premium and find the most affordable rates on your next insurance policy.
*Note about this article: This article is optimized for the term ‘auto insurance.’ The term is used 11 times in a 700-word article – the equivalent of a 1.57% keyword density. A 1%-2% keyword density is the current industry standard for content that has been optimized for the search engines, but some business owners prefer as much as a 5% keyword density in their articles. The keyword phase ‘auto insurance’ is searched 2,240,000 times globally each month. When the phrase is typed into Google, 62,900,000 results are returned. Many of these results are not listed, so this is a good term for insurance companies to optimize content around.
Written by: Lauren Wilkison