5 Ways to get Cheaper Car Insurance Rates
Saving money on car insurance is important in current economic times. The good news is that there are several ways to save on your car insurance, including taking on more of the risk yourself, taking advantage of what you and who you are, and using a favorite insurance company to shoulder more than one type, or line, of insurance. Shop around and find the insurance company which offers the best deals without giving up financial ratings and the respect of the customers they insure.
Deductibles
Insurance deductibles are the amount you will pay for an accident in which you are at fault prior to the insurance company settling the claim. By setting your deductible to a higher amount you can reduce the total amount of your premiums. Keep in mind that you will have to the deductible amount before the insurance company will pay, even when the insurance covered portion of the bill is vastly larger than your deductible. If you have a low amount of cash flow, choosing a lower deductible will give you better insurance protection at the expense of paying more in premium costs.
Occupation and Education
What you do for a living and how long you attended college are important factors in determining insurance premiums. In the first case, your zip code determines what the crime and accident rate in your area will be, and the higher your level of education, the more responsible you are considered to be. Both factors have an impact on your car insurance costs. Occupations that are eligible for auto insurance discounts include law enforcement and emergency services workers, scientists and lawyers, and most people who are employed by government agencies. Court stenographers can get car insurance discounts along with corrections officers, judges and probation officers.
Residence
It may not be feasible to attend two years of college to get insurance discounts, but it makes perfect sense to live in a safer neighborhood if it means saving money at the same time, and your education offers so much more to the future than protecting yourself against car accidents. Even such small details as where you park your car at night have an impact on your insurance policy, and parking in a closed garage will always net your lower premiums than a car that is left "to fend for itself" all night parked at the curb.
Marital Status
For insurance companies, being married is an indication of more financial and personal responsibility, and result in lower premiums. Married people are regarded as being more stable and not as likely to take risks, and that equates to saving money on claims and injury settlements. Statistically, couples settle down to raising a family and don't spend as much time driving during hours. Having a family decreases the risk score of the person even more as they will be more careful for the sake of the children than the same person might have been for their own sake.
Multiple Policies
If you have car insurance, life insurance, and home insurance, but use a different insurance provider for each one, you are probably paying higher premiums than you must. Most insurance companies offer loyalty discounts for taking out multiple lines of coverage or just keep the same policy active for an extended period of time. If you are not comfortable with the level of liability insurance provided by your policies, consider adding an umbrella policy before you increase the limits on individual policies.
