How to Get the Best Rates on Your Car Insurance

For car owners, the proper insurance coverage is a necessary expense. If you drive, most states require you to hold a minimum liability policy to protect yourself and other drivers on the road in the event of a car accident. Just because you can’t avoid paying for insurance doesn’t mean that your policy premiums should leave you strapped for cash. You can never know what may happen when you get behind the wheel. If you are involved in an accident, you will want to have the best protection for you and your vehicle. If you lease or have a loan on your car, your lender may insist that you carry full coverage on your car but, you can still find ways to save a bit of money on your premiums.

An insurance agent like those from Allstate car insurance can work with you to fit a policy to your needs and your budget. There are several ways to get the best insurance rates and the protection that you need.

1 Multiple Quotes

Not all insurance companies are equal. If you are looking for a new insurance broker, it’s important to take the time to shop around. Get online and do a thorough web search of insurance rates using your specific needs as a filter. You can also talk to family and friends about recommendations.

2 Claim Discounts

Although many insurance companies offer a variety of discounts for drivers, they are not always widely advertised. To claim your discounts for military service, senior privileges, and driving record rewards, you may have to ask your broker while you build your policy.

3 Increase Your Deductible

When you have the lowest possible deductible, your premiums will often be higher. If you want to reduce your monthly payments, you should increase your deductible amount to $500 or above. Your overall coverage will not change, but you will have to be willing to spend more on your deductible if a claim is filed.

4 Reduce Your Coverage

For cars that are leased or being paid via a loan, full coverage is often a requirement of the insurer. For those who own their cars outright, it’s up to car owners to meet state requirements for coverage; nothing more is required. Many drivers don’t realize that they may be over-insured. Talk to your broker about the minimum requirements and reduce your coverage to pay only what you need or the minimum that makes sense for you.

5 Bundle Your Policies

It can be a hassle and can end up costing you extra money to have all of your insurance policies with different companies. If you bundle your home, car, and life insurance policies with one company, you can save money on your overall monthly premiums.

6 Pay Annually

Most insurance companies will offer a 10% or higher policy discount if you choose to pay your premiums annually or semi-annually rather than monthly. The reduction in processing costs is often reflected in your costs. If you can budget to pay your full policy upfront, you can save more money than paying a smaller amount each month.

If you drive, you need to have the right coverage to protect you, your family, and other people out on the roads. Take some time to pick the right company and follow some of these tips that can help you get the best rates on your car insurance.