Car Insurance Rates -- To Save Much, Implement These

Everyone out there would be very happy to find a way to enjoy affordable rates provided such a way will NOT downgrade the scope of coverage they get. Here are steps that will help you attract reasonable discounts with ease...

1. There are cars that cost much more to insure. It will do you a world of good if you ask your agent before choosing your next car. Two things that will make you pay more for auto insurance are a vehicle's crash rating and theft rate.

In addition, it will also cost you more if a car costs a lot to fix or maintain. With a little diligence you can avoid buying a vehicle that will cost you much in higher rates over a few years.

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2. It will cost you much more to insure a car if it has a poor safety rating. Opt for cars that have features that increase safety. Such systems get you a big discount.

3. Young drivers are statistically very bad risks. Even in this age bracket, a 23-year old driver will pay much less than a 17 year old all other things being equal.

Therefore, as much as possible, do not place such a driver on your own policy. It will have an adverse effect on your rate. Sign an exclusion form that will allow your teen driver have his or her own policy.

It's a fair price for them to pay to enjoy the adult privilege of driving. This act will save you more than money as your teen driver will happily listen when suggestions are made on things that will bring down the high rates they pay. 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. The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. 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.

Furthermore, if a long term policy holder files just one claim, most insurers will NOT raise their rates thereafter. It makes sense for the insurer as it is cheaper to give discounts to existing policy holders than to acquire new ones.

Just bear in mind that some people will be better off if they switched to another insurer notwithstanding the many discounts given to long term policy holders.

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

But we can almost say with some certainty that because of inflation your rate might not remain the same. Between these three years you might get an insurance provider who'll give you a comparable auto insurance coverage or better for less than $2,000. Then it would be anything but wisdom to stay put because you want to qualify for a discount down the road knowing that the expected discount is less than savings you will get now if you change to another insurer.

It's a sure fact that most people can pay far less with another insurer if they'll only make out time to shop extensively.. You can only be sure if this is true for your profile when you get and compare quotes from many different auto insurance companies to see where your interest is better served..

5. Defensive driving makes you eligible for cheaper rates so get trained in it. In addition to improving your driving, such programs will qualify you for a discount with your insurer provided such a course is one they approve.

6. Before you get carried away with the few hundreds you will save on a house, check if it will not cost you much more in auto insurance. Also note that a neighbor not too far away might fall under a lower crime zone than you -- This affects rates.

Therefore, take your time to ask your agent what effect your new zip code would have on your rates before you make that down payment. I know: That isn't usually an issue when you're looking for a home but it's really important.

Since you may live in the same home for decades to come, a difference of $200 in auto insurance rates would amount to thousands over the years.

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7. A good option for you is to use your parents' auto insurance policy. Your parents certainly belong to a better risk age group.

There are two things you must do to make this possible: The car must be registered in your parents' name and you must live with them. If you want to own your car, then be the big boy or girl and also own the costly rates. Sorry, you cannot have both with this option. However, you can still make massive savings by following the link at the end of this piece.

8. You will save much by visiting a minimum of 5 quotes sites. If you do this, you will increase your chances of getting the lowest auto insurance quotes available since five sites will return not less than 25 quotes altogether.

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