If you find yourself needing to trim costs lately, one thing you may want to consider is the cost of owning your car. When was the last time you reviewed your policy? Have premiums gone up steadily even though you have a great driving record with no accidents, not even a traffic ticket? It may be time to start looking for low cost auto insurance.
There are certain factors that you will not be able to change such as your age and gender or even where you live and work, but you can take advantage of low cost auto insurance by following a few straightforward guidelines that can influence your chances of qualifying for lower rates. The most frequent discount is given for good drivers, those who maintain a good driving record with no traffic infractions or accidents for at least three years. Some companies may require five years, but you'll need to check with your own insurer.
Most people buy a car without really thinking about the cost of insurance. Sure, they'll take into consideration government crash test ratings, but that seems to be the extent of it when it comes to getting low cost auto insurance. But what about things like the car's repair ratings? Premiums for collision and comprehensive coverage even for brand new cars are a function of historical claims for theft and accidents as well as the costs of repair.
The auto insurance industry has compiled decades of data regarding driver and car profiles. Whether you personally fit into a high risk profile doesn't matter to the insurer. So if you're a 24 year male who opts for a shiny red Mustang, then the chance of you obtaining a low cost auto insurance policy is pipe dream. This is true even if you've been driving safely since you turned 15 and haven't had single blemish on your driving record.
Just by raising your own out-of-pocket cost, known as a deductible, before a claim for insurance will be paid, you can lower your premiums by quite a bit. This is an effective way to obtain your own low cost auto insurance without even having to switch insurers. It makes sense to then use your savings to fund the amount of your higher deductible and set it aside. Then you can enjoy the peace of mind that you'll have the deductible in hand while being able to see immediate savings.
You may be able to get a low cost auto insurance policy if you are an infrequent driver or you don't need your car to get to work. A number of insurance companies will give a discount for low mile usage as long as you can show that you are within the limits. You can also reduce your premiums and see a large savings if you eliminate collision and comprehensive coverage once your car reaches a certain point where the value no longer exceeds the cost of repairs.
To assist you in locating a low cost auto insurance policy, it would be a good idea to search using any of the rate quote services that are now available. To get a quote for a car make or model, you simply answer a few questions concerning your driving history along with the car information and in seconds you can have quotes from several companies. If you're shopping for a car, this can be a tremendous help in deciding what will fit within your budget.
