7 Ways to Get the Cheapest Car Insurance Rates
With car insurance rates rising each year, it’s more important than ever to get the lowest possible rates. If you don’t, you risk being hit with hundreds – even thousands
– of dollars in extra costs every year. Unfortunately, the only way to know if you’re paying too much is by comparing your insurance bill with quotes from multiple companies and finding out who offers the best deal on your coverage.
Here are 7 ways to get the cheapest car insurance rates that will help you start saving today.
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1) Shop Around
Shop around with as many different providers as you can. It’s important to see what rates are being offered by various companies because some will offer substantially lower rates than others.
Remember that cheaper isn’t always better – you want a provider who will provide good customer service and be available when you need them.
2) Check Your Credit Report and Score
One of the most important things you can do before shopping for car insurance rates is check your credit report and score.
Credit scores are used by insurers as an indication of how risky it would be to insure you. The higher your score, the better!
3) Comprehensive Coverage is Essential
Comprehensive Coverage is Essential. Comprehensive coverage, also known as collision coverage,
is an insurance policy for your vehicle that protects you from damages or injuries arising from incidents that are not covered by other types of policies such as liability and medical payments.
This type of insurance pays for damages to your car caused by items such as fire, theft, vandalism and natural disasters.
If you live in a high-risk area where these incidents happen more often than they do elsewhere, comprehensive coverage may be a necessity.
4) Accidents Happen – Look for Auto Accident Discounts
It’s important to take this into consideration when shopping for car insurance because accidents happen.
If you’ve been involved in an accident, look for auto accident discounts as part of your car insurance policy.
You’ll want to check with your state’s Department of Motor Vehicles or Division of Motor Vehicles about whether any drivers involved in an accident are eligible for a discount on their rates.
5) Stay Insured While Waiting to Receive a Settlement From an Accident
If you’re waiting for a settlement from an accident before you can get insurance, here are some things that can help you stay insured while waiting.
1) Buy temporary car insurance coverage from a provider like GEICO or Progressive. You may be able to get a quote with these companies without mentioning that you’re waiting for a settlement.
2) Contact your state’s department of motor vehicles and see if they have any resources available for people in your situation.
6) Understand Deductibles and Other Costs
One of the most common mistakes drivers make is not understanding what a deductible is.
It’s an amount that you must pay out-of-pocket before your insurance company will start paying anything.
For example, if you get in a wreck and your car was damaged for $2,000,
but your deductible is $1,000,
.then you’ll have to pay $1,000 of that damage out of pocket before any money comes from your insurance company.
7) Ask for Referrals from Relatives or Friends
Asking for referrals from relatives or friends is a great way to get a better deal on car insurance.
Ask your mom, dad, sister, brother or whoever about their insurance agent and how much it costs for them.
The more people you ask, the better idea you’ll have of what rates are like.
