Each year, a month prior to the expiration of your current car insurance policy, you should look around to make sure you are getting the best deal. Some insurance companies offer a discount to long-time customers, but if a new company can get you a rate that is better than your discounted rate, then you have to consider it. When you shop for new insurance, make sure you have your current policy declarations page that indicates exactly what coverages you are getting so that you get a comparable quote.
Your financial situation changes as time goes by, and that means that you may be able to alter your auto insurance deductible to reflect those changes. When you first bought auto insurance, you may have been willing to pay the extra premium for a $200 deductible because you were not sure you could afford to pay $200 immediately to cover your end of major repairs. But, as your financial situation improves and your driving record remains clean, consider raising your deductible to lower your monthly premiums. Compare the difference in premiums to see if it is worth the savings to take on the extra financial responsibility if you have an accident. If you are saving more than an extra $500 per year in reduced premiums to take on a $500 deductible, then the change makes sense.
Many insurance companies offer discounts to drivers beyond just the long-time client discount, according to Philip Reed, writing on the Edmunds website. Discuss the discounts that your insurance company offers with your agent and see how many you can take advantage of. Some of the discounts to consider are discounts for bundling your homeowners and car insurance together, if your child is on your auto insurance, then a good report card could lower your rates and adding an auto alarm system to your car could bring your premiums down.
The top three tips mentioned here will help you to save money on your car insurance and make sure you are getting good value for your premiums. But it is important to remember that customer service adds value to your policy as well. Before changing companies, have a personal interview with the potentially new agent and see if you feel comfortable with her approach. Call the new company’s customer service number and talk to an agent there to see what kind of service you would get if you needed to make a claim. Be completely confident that you are making the right move before changing insurance companies.
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