Cheap Car Insurance Rate -- Easy But Tested Ways

1. Ensure your vehicle insurance policy is not allowed to lapse no matter what.. You'll pay more expensive rates for a considerable length of time if this happens to you albeit inadvertently. Don't allow this mistake while changing insurers since that's one situation where this happens to many people.

To avoid a lapse, make sure that the new policy is fully in place before you terminate the previous one. As simple as this may seem, a lot of individuals are bearing the weight of higher rates because of this silly little oversight.

2. Paying your premium once a year will attract lower rates than opting for monthly payments. You may be told monthly payments are convenient but what you don't know is how much more you pay for it..

There are transaction fees that are incurred when processing a check. All through a year, your monthly checks would be processed differently since they are all separate transactions. This implies that you will pay transaction charges 12 times..

That's one side of it: Insurers also incur certain admnistrative costs for your monthly payments. A clear example of such is the cost associated with mailing payment notices..

These costs plus a profit margin for this feature is included in your premium making it more than a similar profile that pays annually every year.

3. Electronic Funds Transfer, known as EFT is a smart way to reduce your automobile insurance premium. This process authorizes your bank to credit your insurer with your premium payments automatically until you advise to the contrary. This reduces an insurer's overhead by eliminating the necessity of payment notices or checks. This is why this attracts lower rates.

4. You can realize savings of hundreds of dollars on your auto insurance policy by requesting for insurance quotes from quote sites. The best method is to visit a minimum of five quotes sites and ensuring that you provide the same (correct) information about yourself.

I advise that you use not less than five quotes sites because that will make it less likely that you'll miss out offers not carried by the other sites. This offers you a broader basis for doing better comparisons thus increasing your chances of getting more for less.

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