Car insurance is one of the most overlooked places to save quick and easy money. In just 10 minutes you can get a car insurance quote online and see if your rate has changed. In just 30 minutes you can compare online quotes for three or more car insurance companies. By comparing online car insurance quotes from several car insurance companies you discover that you can save several hundreds of dollars a year on your car insurance. When your online there are several quick was to see if you can lower your car insurance rates.
Two ways to lower your car insurance rates online
• Car Insurance Discounts: Check to make sure that you're getting all the discounts you qualify for. You can get discounts for safe driving, good students, owning a home, multiple cars, organizational memberships and many other things.
• Increase You Deductible: A quick way to decrease your car insurance rate is by increasing your deductible. Your deductible is the amount you pay out of pocket for an accident before your car insurance company pays any claims. If you can afford to pay more out of pocket this could save you on your yearly premium.
Also be sure to look at your car insurance coverages and make sure you aren’t buying too much auto insurance for your needs.
Liability insurance is not a place to cut corners -- it pays for any damage you do to others and protects you from financial ruin in the event you cause a major accident. But take a look at the other parts of your car insurance policy and you may find you're buying more car insurance than you're likely to use.
Three places to examine auto insurance coverage
Are you overinsured? Here are five areas of coverage where you may have too much car insurance or redundant insurance:
• Collision and or Comprehensive Coverage: If you've paid off your car and its value has depreciated so much that repairs would cost more than the worth of the vehicle, or you wouldn't mind taking the risk that a thief will steal your car, consider dropping one or both of these coverage types.
• Rental Car Reimbursement Coverage: Your policy may include reimbursement for a rental car while your car is being repaired. However, the reimbursement could be in the neighborhood of $20 per rental day. If that's not going to break your budget, you might forgo rental reimbursement coverage.
• Towing and Roadside Assistance Coverage: If your warranty is still active, or if you have AAA, towing may be covered if your vehicle breaks down and you won’t need the coverage.
In your search for lower auto insurance rates, make sure you still have coverage that will protect you against disastrous losses. Experts agree that both adequate liability coverage and uninsured/underinsurance coverage are must-haves for any auto policy.
Uninsured Motorist/Underinsurance Motorist coverage pays for injuries to you and your passengers when another driver is at-fault and doesn't have enough insurance to pay for his damages -- or doesn't have auto insurance at all. And with more and more uninsured motorists on the road, you don't want to take your chances.
Finally, whatever auto insurance options you choose, don't neglect to shop around. You could save hundreds by simply comparing auto insurance quotes online for several car insurance companies.
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