Tips For Getting The Most Out Of Your Auto Insurance Policy
When comparing auto insurance rates between competitive quotes, you want to be sure that you are getting the most out of your car insurance policy. Insurance is a very competitive business and there are some great deals and discounts available. You want to be sure that you are not missing any opportunities to save money or obtain more insurance for less. Here are some tips for managing your insurance policy.
Adjustments to Car Insurance Policy
It is possible to lower your auto insurance rates by making certain adjustments to your insurance policy. Consider removing Collision coverage for any vehicle that is more than ten years old. Raise deductibles on Collision or Comprehensive Insurance, or lower your coverage limits for Property Damage or Bodily Injury Liability in order to save money. If you own more than one vehicle, then consider reducing or eliminating Rental insurance. If you have a roadside assistance program through AAA or under a new car extended warranty, then get rid of your Towing insurance. Finally, if you have private health insurance, then consider getting rid of Medpay or Personal Injury Protection (PIP) insurance.
Auto Insurance Discounts
Your car insurance company may offer a variety of different discounts. Ask about safe driver and claims-free discounts. Your vehicle may be eligible for a discount if is new or has safety and security features such as anti-theft devices, anti-lock brakes, airbags, etc. Multiple policy discounts can also be a way to save if you have your homeowners, motorcycle, life, or umbrella policy with the same company.
Comparison Shop Auto Insurance Rates
There is a huge disparity between some car insurance companies for quotes which offer identical coverage. Some insurance companies are simply more competitive than others, and some use different underwriting standards for computing rates. Comparison shopping provides an excellent means of assuring that you are receiving the best deal out there on car insurance.
Rate Factors
Underwriting takes many things into consideration when determining rates. Among the most important is a driver's history. At fault auto accidents, moving vehicle violations, driving uninsured and driving under the influence all will hurt your wallet. You have a great deal of control over your driving record. Do be a defensive driver and stay off your cell phone. Go the speed limit and obey traffic laws. If possible, drive fewer miles. Finally, maintain a good credit score.
Get the most from your car insurance policy by following these tips for managing car insurance. Be sure to review your policy on a regular basis in order to spot new opportunities to save. Do not pay more for less or fail to take advantage of opportunities to lower your auto insurance rates.
