Introduction
Everybody is looking to lower their insurance rate these days. Due to the depressed economy and the high level of unemployment rate, everybody should look into saving their money any way that they can. One of the places that need to be addressed is your insurance rate costs. Lowering the cost on your insurance rate is the quickest way to free up some amount of cash and allow you to save those few extra dollars needed every month.
Step 1
Here are some of the most common tips and ideas for lowering your insurance rate:
Request Higher Deductibles: Are you choosing the lowest deductible possible? If you are a cautious driver that has a clean record then there certainly is no reason to have a high deductible on your policy. Weigh the amount of the premiums versus the higher deductible you will be paying to make sure that this is an option that will benefit you.
Drop Collision and Comprehensive: Dropping these coverage’s if you have an older vehicle that is paid off is the smart way to go. All you need is the basic liability insurance but make sure you have a high enough amount in liability to cover costs in case you get in a very serious accident.
Step 2
Don’t double up on medical. If you already have great medical insurance you can cancel the PIP option on your policy as your medical insurance will cover these costs. Most people do not realize this and they have added coverage that they do not need.
Keep Those Low Miles: All companies offer steep discounts for the fewer miles that you drive. Look into planning every trip you make in your car to avoid unnecessary mileage. Also a vanpool or carpool to work every week will cut out those unwanted miles and will also alleviate most of the stress we endure from traffic in our weekly commute.
Step 3
Get The Safety Gear: All insurance rate companies that I know offer steep discounts to those who have certain added features to their vehicle such as airbags, day-time running lights, seat belts that are automatic and an anti-theft system installed on your vehicle.
Do You Really Need Roadside Assistance: Most of us don’t realize it but we usually already have Roadside Assistance coverage through certain credit cards that we currently hold in our wallets. Foregoing of this coverage will alleviate much needed dollars on the premium of your insurance rate.
Doesn’t Hurt to Ask: Make sure that you ask your insurance agent about any and all discounts that can be offered by the insurance rate company. They will be more than happy to help you out.
Tips
There are an endless number of discounts and options that you can make regarding your insurance rate that will help you put money back into your pocket. Make sure you consult with your insurance professional before making your final decision or cutting back on certain coverage’s. Like the saying goes, it’s better to be safe than sorry.
