With increasing costs of living and unpredictable job scenario, it becomes imperative to save on monthly bills. It is thus important to look for ways in which you can reduce your car insurance premium. Instead of going to just one auto insurance company and signing up, it is better to go to an independent car insurance site and go through various quotes from different vendors at one single place.
1. Features of a low cost quality car insurance You can get a budget car insurance with enough coverage if you have a good driving record and a good credit rating. Check with your existing insurance company that covers you on other aspects like life insurance, if they have something better for you. Also, you can get discounts on car insurance if you have taken enough precautions to minimize risk like for instance, anti-theft device, airbags in the car etc.
Contact the DMV to find out if your car driving track record is spotless. If there are some issues, find out if you can get them sorted. Contact three of the top credit rating agencies and find out your credit report, if there are discrepancies, you can get them checked as well. The bottom line is if your credit rating and driving record is good, then you can get car insurance premium at an affordable price.
2. Types of car insurance The most comprehensive type of car insurance is the comprehensive insurance. In case, you are financing your car, this is the type of car insurance you should go for. Increasing the deductible can lower the rate of the insurance. The second type of auto insurance is called the ‘Fire and Theft Insurance’. One way to get this at a lower cost is to own a low end car which is less likely to be stolen. Then finally, there is a third type of auto insurance called ‘Third Party’ which covers damage caused to property, car or person by the insured. This is also the cheapest type of car insurance.
3. Grounds in which you can get low cost auto insurance The less expensive is your car, the lower is the insurance premium that you pay. Also, the profile of the driver, the area in which you drive the car, the age of the driver also affects the premium cost. If you want to go for cheap auto insurance, having cars with four or six cylinders, domestic vehicles, minivans and four-door cars can tilt the decision to your advantage. Also, you can get multi-vehicle discount if you own more than one car.
4. Be wary of the ‘catch’ in various auto insurance deals- When you shop for various car insurance deals online, you may come across flattering offers and add-ons like roadside assistance, rental car provisions etc. But they do come at a cost and there may be hidden fees or a short life span. For instance, the reduced insurance rate may be for an initial period of six months, after which the cost may rise as you factor in these add-ons. So do not be shy to ask questions and go through the fine print carefully before you sign up for auto insurance.