We know that having car insurance is a good thing, but we don’t always want to pay the premium. Insurance can be costly and most drivers view themselves as safe drivers. We don’t expect anything bad to happen so we avoid paying the extra cash for insurance. The reality of the situation is that sooner or later we will all be in some kind of accident. We may get away with many situations in which we could have purchased insurance but we didn’t. This gives us the feeling that we don’t need the insurance because nothing bad ever happens.
It only takes one accident to overtake all the savings you’ve accrued skipping out on insurance in the past. Get into the habit of opting into insurance and you never have to worry about making a critical error in the future. Just because you opt-in for insurance whenever you can, doesn’t mean you have to pay full price.
Here are our tips on saving money on insurance.
- Price Differentiation– Insurance rates can be varied by hundreds of dollars from one insurer to the next. If you spend some time comparing the rates between insurers, then you can choose the best one as this can save your money. You should also check on the internet as well and compare the rates from multiple insurers to choose one.
- Safety and security discount (if any) – Few insurance companies will give a discount if you have the safety features in your car. For instance, if your car has safety features like anti-lock brakes, airbags in your car etc. the insurance company will give the safety and security discount.
- Choose the high deductibles- Deductibles are the amount which one has to pay before the insurance company will pay a claim. If one has the highest rate of deductibles then the premium will be low for collision and comprehensive coverage.
- Good credit score to be maintained- Some drivers do have a good credit history and those drivers do get some discounts and offers. Some companies will give you good credit if you do the insurance of your car on time.
- Stay insured always- Do not discontinue your insurance policy. People who have their insurance expired even for some time, they can go at high risk. Therefore the insurance firms will also charge some extra money.
Conclusion: Always avoid the small claims because small claims make you pay the high cost for the next year’s insurance. Make your insurance on time as you reap the number of benefits that have been discussed.
