Everyone has an opinion about insuring automobiles. Some people think that it is a necessary evil and others may want to buy a fully loaded policy. One thing is sure that we have to buy at least liabilities coverage to be able to drive legally. So, why not do a good job and get good coverage at a reasonable price if we have to buy a policy anyway? Here are some tips to help you find it.
The More You Buy the Cheaper It Gets
You may think that buying the minimum coverage required by your state has got to be the cheaper option but you may be wrong. There is no competition in the minimum coverage market since you have to buy it anyway. Besides, most policies sold are fully comprehensive. That is why companies try harder to offer as much coverage as possible for as little money as they can. Even you have to pay additional premium for a full coverage it may be very little. You should best get a few quotes and see it yourself.
Don’t Be Scared to Play Around with Deductibles
Instead of giving up coverage you should look at other ways of lowering your vehicle insurance premium. For example, you could increase your deductibles and see how much it will affect the costs. If you are saving enough it may be worth taking a chance that you will pay $1,000 deductibles instead of $500 if you ever have to make a claim. This strategy works best for people who would only claim for large damages anyway.
Don’t Count on Loyalty Discounts
Many policyholders make an assumption that they will automatically get loyalty discounts if they stay with the same company. You should perhaps read this article to find out more about how loyalty discounts work. It is highly advisable that you check for alternative quotes and see if you are really being rewarded for your loyalty by your current insurer.
Use Independent Brokers as an Additional Source
Large numbers of motorists make the mistake of leaving everything to their brokers. Yes, they know their staff but it is your policy. You should know enough about it and have the final say. Keep asking questions unless you run out of them. And remember to check the costs yourself as well. At least ask your friends how much they pay for their policies. Remember that brokers are commission driven. They will earn more if they can sell you a more expensive policy.
Don’t Hesitate to Ask
Do you think you cannot negotiate with your auto insurer? Well, you are wrong. They usually come up with magical savings when they are pushed. First you need to ask nicely if there is any way that they can lower your premium a bit. This may work. Otherwise, you need to go and get yourself a few quotes. If you can find a lower quote for the exact same coverage you are in a better position to negotiate. When the message as clear as either you match this quote or else they will get it pretty quickly. It is expensive to win over a new customer and therefore silly to let one good customer go to competition. They know you will probably never come back.
Don’t Be Afraid to Go Back to School
If you have had couple of accidents recently it may be time to learn defensive or advanced driving. There are so many of these courses and a few of them are over in a day or two. Check for the most beneficial and recognized one. Completing a good advanced driving course can have impressive benefits. Some local authorities may agree to shave off several points from your driving license or agree not to add new points if you complete the course they recommend. Also, you may be able to get discounts on auto insurance depending on where you live and your age.
Always Shop Around
The message is clear that you need to shop around to get cheap automobile insurance coverage. There is no need to fall in love with the first company you get a quote from. There are plenty of them and you should check as many as you can. It takes only few minutes to get a quote and very easy to compare quotes when you asked for the same coverage. It may be cheesy to repeat a popular advertisement slogan but you can really save hundreds of dollars.
Always Check Your Coverage
It would be sad to realize that there is a mistake on your coverage after you have a claim. Insurers will not accept any responsibility for miscommunications, errors and omissions. It is your job to make sure that everything is in order and the way you wanted. It only takes few minutes to have a good look at it. You should make sure that every detail in the policy schedule is correct and pay particular attention to conditions attached to it.
Don’t Be Too Keen to Make Claims
Why not, you paid for your premium and you should make a claim when you suffer an insured damage? Go ahead and submit a small claim and get paid $500 after deductibles. Then, just wait and see what will happen to your renewal quote! If you are in full control of the situation and you can pay for the small damages it may be worth it. For example, you got up one morning and found that someone scratched the side of your car. Think if it is worth making a claim. However, you should contact your insurer immediately when other cars and people are involved in an accident even you think it wasn’t your fault.
Don’t Be Economical about the Truth
You disclose all the material facts accurately when you are buying a car insurance policy. Don’t tell lies about your address, who will drive your car or where it will be kept. For example, it is not worth telling the insurer that you park your car in the garage overnight if it is full of junk and no room for a car even it means that you will get cheaper premium.