Without doubts, car insurance adds to the cost of owning and maintaining a car. But reviewing your coverage from time to time to balance cost with needs will certainly cut down your expenses on auto premiums. Here are few proven tips you should apply to save on insurance:
Conduct a market research:
Because car insurance prices differ among companies, it pays potential and existing car insurance holders to shop around for market prices. In addition, insurance companies and quotes are not all the same; some companies sell through their own brokers, independent agents or directly to customers, and these transactions may be conducted via telephone calls, emails or an app. Having about 5 quotes from different companies will therefore provide consumers with the best choice.
It is not advisable to rely on your knowledge alone when opting for auto premiums. Experts in the field advise consumers to consult friends, family members or professionals with factual knowledge of car insurance—for the best recommendations. Don’t neglect this group of people during the negotiation process or while committing to a company, because their help will definitely be needed when it’s time to make claim.
Don’t be deceived by pricing:
The lowest price often seems the “best and cheapest” option in car insurance but experts think otherwise because reputation of companies is a major factor to be considered. Conduct an online research for consumer reviews and consult your state insurance department for unbiased information on your choice of insurance professionals. This is the only way to find a reliable insurance company to take care of your needs.
Before buying that car:
Understand that your insurance package is often calculated according to the market price of your car, including its official safety record and security or safety performance. For instance, some insurers reduce auto premium charges for vehicles with features that reduce risk of car theft. Ratings from the Insurance Institute for Highway Safety (IIHS), for US residents, is very important when shopping for cars. Buying models or brands with a track record of security and reliability is therefore a sure way of cutting down on insurance expenses.