Auto Insurance Rates -- To Save Considerably, Apply These

Everyone out there would be really glad to find a way of enjoying lower rates as long as such a way will NOT downgrade the scope of coverage they enjoy. Here are things that will help you attract reasonable discounts with ease...

1. There are cars that cost far more to give adequate auto insurance coverage. It will help a lot if you get advice from your agent before buying your next car. Two factors that will make you pay more for auto insurance are a car's crash rating and theft rate.

Another thing to take into consideration is the cost of maintaining a car since this is also an issue that affects your rate. I don't know about you; but it is a smart thing to buy a comparable vehicle that is more insurance-friendly.

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2. You will pay less if your vehicle has a higher safety rating. Safety ratings should get top consideration when buying a new car. Such systems get you a good discount. For more details on these and how much savings you'll realize by fixing them, consult your insurance agent.

3. It's a known fact that young drivers attract high rates. Even in this age bracket, a 23-year old driver will pay much less than a 17 year old all other things being equal.

So you'll do well to NOT place your teenage driver on your policy. It will drive it up by a huge margin. Your teen driver should have his/her own policy. This will be made possible if you sign an exclusion form.

Let your teen bear the responsibility of paying for their auto insurance. Teens who pay for their own auto insurance are more willing to take steps to bring it down. The full implication of this is that your teen will be a lot safer as they'd do their best to avoid inflating their rates.

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4. You'll save by being loyal to an insurer due to the long term discount and accident forgiveness which they give to long-standing policy holders. Depending on the insurer, you'll be eligible for a discount of 5% once you've stayed with them for between three and five years.

The accident forgiveness discount means that your insurer will not raise your rates if you file just one claim. It makes sense for the insurer as it is cheaper to give discounts to existing policy holders than to acquire new ones. The longer you stay, the more you'll save.

But it will only be right for me to also point out that in spite of these incentives, you might actually gain more if you switch to another insurer.

If your auto insurance rate is $2,500 and you are given a five percent discount when you stay for up to 5 years you will pay $2,500 - (5% of $2,500 or $125) = $2,375.

However, because of inflation, insurers may have to re-adjust their rates to reflect such changes. But while you are at it, an insurer somewhere could be prepared to give you a rate of $2,000 or less within that period. In this regard, it will be pointless to stay put because you are after a loyalty discount much later when you can get cheaper rates at the moment.

It's a sure fact that most people can pay a lot less with another insurer if they will only make out time to shop properly.. Considering that the process of getting and comparing auto insurance quotes takes just minutes, I'll wonder why you will not do that instantly and get more affordable auto insurance rates immediately.

5. Participate in a defensive driving program. Apart from the fact that they will bring down your rate, they will make you a better driver.

6. It's easy to save a few hundred dollars on a home but lose thousands over the years on auto insurance because of its location. Also note that a neighbor not too far away might fall under a lower crime zone than you -- This affects rates.

So, as part of your home shopping activities, check how this neighborhood will affect your auto insurance rate. This doesn't come readily to mind when you're shopping for a new home. Does it?

But think about it: If your new zip code adds up to $300 to your annual auto insurance rate, how much would that amount to at the end of your 30-year mortgage?

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7. A good alternative for you is to use your parents' car insurance policy. If you are of driving age, then your parents certainly are far above twenty five years which means they're better risk drivers.

To take advantage of this though, you'll have to live with your parents and also have the vehicle registered in their name. If you do not like the idea of giving the car's ownership to them and other stuff that may be attached to that, then you'll have to forego this alternative.

8. Visit not less than five quotes sites. Requesting quotes from at least five quotes sites increase the chances that you would obtain better auto insurance quotes. This is because insurers not represented by one site will be covered by another.

And, you know that because the likelihood of getting lower auto insurance quotes is related to the number of quotes you receive, the more insurers you obtain quotes from, the brighter your chances will be.

Getting your auto insurance quotes online will help you save far more if you take out around 25 minutes to get quotes from at least five quotes sites.

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