Vehicle Insurance Rates -- To Save Much, Implement These

Would you like a cheaper rate while maintaining the right coverage? Let's explore several time-tested ways of getting just that...

1. Certain cars are quite expensive to insure. It will do you a world of good if you discuss with your agent before buying your next car. Avoid any car that has a high theft rate and/or a poor crash rating.

Furthermore, cars that typically cost more to repair also cost more to insure. Asking the right questions will make it easy for you to avoid expensive-to-insure cars and get lower rates.

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2. A car with a high safety rating will get you better rates than one with a poorer rating all other things being equal. Opt for cars that have systems that improve safety. You'll qualify for a Safe Car discount if your vehicle has such features. Your insurance agent can give you a list of safety devices that will get you a discount with your insurance provider.

3. It's a known fact that young drivers attract high rates. Even in this age bracket, a 23-year old driver will pay much less than a 17 year old all other things being equal.

Therefore, as much as possible, do not place such a driver on your own policy. It will have an adverse effect on your rate. Sign an exclusion form that will allow your teen driver have his or her own policy.

If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. This act will save you more than money as your teen driver will happily listen when suggestions are made on things that will bring down the high rates they pay. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.

Affordable Auto Insurance

4. Insurers give give customers who have remained loyal a long term discount and accident forgiveness. Most insurers will give you a discount of about 5% if you stay with them for up to five years (some will give you once you stay for up to three.

Most insurers will also not raise the rates of a long standing policy holder if they make only just one claim. It makes sense for the insurer as it is cheaper to give discounts to existing policy holders than to acquire new ones.

But it will only be right for me to also point out that in spite of these incentives, you might actually gain more if you switch to another insurer.

Assuming your auto insurance rate is $2,500 and you get a five percent discount when you stay for about 5 years you will pay $2,500 - (5% of $2,500 or $125) = $2,375.

But also bear in mind that your rates may be raised to reflect the effect of inflation. But if you are someone who does regular shopping for auto insurance you'll almost always get an insurer within those years of waiting who will give you a similar coverage at a lower rate. In such a case, it will be pointless to stay put because you want to get a discount much later when you can pay less at the moment.

you will most likely pay less if you take the time to shop right since there are hundreds of insurers out there. You can only know if it is true in your case when you obtain and evaluate quotes from many different auto insurance companies and then see where your interest is better served..

5. Participate in a defensive driving course. Apart from the fact that they will improve your driving skills, they'll show your insurance carrier that you're doing your best to reduce your risk level.

6. Do you know that some folks are paying much more in auto insurance because of where their homes are? Do you know also know that homes within the same neighbor might actually fall into different risk zones according to the insurance industry's mapping?

So check with your agent before you commit to a new home. This doesn't come readily to mind when you're shopping for a new home. Does it?

Remember, you might live in this home for up to 20 years or more. If its location makes you pay up to $200 more in premium, that will add up to $4,000 within that time frame.

Affordable Auto Insurance

7. An alternative for you is to use your parents' auto insurance policy. The fact that you're of driving age means that your parents are of a better risk age bracket.

You must remember that the vehicle must be registered in their name and you must be living with them if you want to use this option. If you want to be the owner of your car, then be the big boy or girl and also own the higher premiums. Sorry, you cannot have both with this alternative. However, you can still make a lot of savings by following the link at the end of this piece.

8. The most important route to reasonable savings in auto insurance is comparison shopping -- That's if you do it correctly. You can get quotes that will have a range in excess of $1,000. You could quickly save that much by just choosing the lowest quote. That should apply if you're simply after the lowest price.

Nevertheless, if you're after the best price/value then you'd have to look at the details of the lowest quotes. Different insurance companies may have adjustments for similar policies. It's wise to ask the agent what's part of the deal and what's not.

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