Car insurance is an expensive purchase that people, so a lot consideration must be put into it. Often times, what you’re paying for your peace of mind, may be too expensive and not even cover you adequately when the time comes.
This is why; the best car insurance is the one which costs you the least, while providing appropriate coverage.
Here are 5 tips that will ensure you get the best deal on your car insurance:
Shop around, shop often
Whether you are buying a policy for the first time or already have one, you must shop around for insurance. Once every two or three years you must seek out different insurance companies and obtain a quote. Maybe you are driving fewer miles now than you were two years ago, which can reduce your premium. Or your driving skills have improved significantly after taking driving classes, which can also affect your insurance rates.
There is little benefit in sticking with the same insurance company year after year, and loyal customer discounts are mostly ways to rip-off old customers.
Know the coverage types
Have you ever wondered what your car insurance is actually covering?
There are different types of coverage available and you will need to purchase each one individually to ensure that you are adequately insured.
Bodily injury covers the medical expenses of the person who you injured with your car, along with any legal fees for cases against you.
Property Damage liability
Property damage liability covers the damage that you do with your vehicle to other people’s property.
This covers your medical expenses when you were at-fault in a car crash.
Uninsured/underinsured motorist protection
There are a lot of uninsured/underinsured motorist on the road who will not be able to cover your damages when they are at-fault in a car crash. This coverage will help you in this case.
This covers your car from theft, vandalism, fire, flood and any other non-accidental causes.
When purchasing car insurance, always inquire about the types of coverage in the policy that are in the policy and the State requirement for each one.
Try and obtain as many discounts as you can from the insurance company that you have selected. Usually, the discounts that are offered by insurance companies are:
- Multiple policies: most companies give out discounts if you are buying multiple policies from them, for example, car and home insurance.
- Safety: Insurance companies usually offer discounts to drivers who have safety features installed on their cars, such as anti-lock brakes, air bags and anti-theft locks.
- Up-front payment: a full 12 month payment will usually cost less than paying monthly installments.
Manage credit wisely
Insurance companies have a very keen interest on your credit ratings as it makes a difference on your premium payments. A solid credit history means very lower prices.
Manage your credit card spending and pay the bills on time. Only apply for loans when you really need it, like buying a house.
Consider insurance costs when purchasing a car
The cars that are cheaper to insure are the ones that are practical and often times not sexy. This doesn’t mean you should drive a minivan—because they are the cheapest to insure—but what it does mean is that you should consider the insurance costs while purchasing a car as well.
Ty narrowing down your choices with the help of insurance rates, as it can save you a lot of money in the long run.
If you are looking to purchase car insurance, then get a consultation from Greg Marcus before committing to a policy. Greg Marcus is an insurance professional who can guide you about the adequate coverage, as well as get you the best prices.