Car Isnurance Premiums

Car insurance is one of the necessities that anyone who owns a vehicle has to have.  It is something we can’t do without, but it can be very expensive. Depending on what type of vehicle you have, what type of coverage you choose, your driving record and credit report, premiums can be very expensive.  Not all policies are the same.  Depending on the insureds actual needs, there are some ways to lower car insurance premiums. A little time to look over your policy and talk to your insurance agent can make a difference in what premium you pay.

The most obvious ways to lower your car insurance premiums is to consider increasing your comprehensive and collision deductibles.  Increasing your comprehensive deductible from $0 deductible or $50 deductible to $100 or $250 deductible can have a big impact on your premium. Also increasing the collision deductible from $100 to $250 or $500 will greatly affect your premium.  When increasing deductibles, you need to look at your financial situation to make sure you can cover the deductible in case of a claim.

Another way to save on car insurance premiums is to carry more than one policy with the same company.  You can get a multi policy discount with some companies if you carry your home, umbrella or life policy with the same company that has the car insurance.  There is a discount for each of these policy so you would get three discounts on the car insurance policy.  Plus you would save on the other policies too.

Also, if you keep your driving record clean, you can save on your car insurance. Most companies give discounts for good drivers is you go for a period of time without an accident or ticket.

Most people don’t realize this, but your credit rating can affect you car insurance rates.Now, most insurance companies loot at credit scores when figuring insurance premiums.  A lower score or no score at all can make your insurance quite a bit higher. But a good score can save you a lot on your insurance premiums.

Lastly, you should evaluate your coverages each year to make sure you have the coverage you need and that you are getting all of the deductibles that you are entitled to.  Taking a few minutes to do this can save you money as well as hassles if you have a claim.