Ways To Lower Your Car Insurance Premium Rates

In every state,it is required by law to carry auto insurance. As many drivers search for insurance, they seek the best bang for their buck policy. After the initial purchase of insurance, the client is usually satisfied and retains the insurer for many years. This practice is usually not recommended to keep your premiums low and to secure the best price around. Here are some ways to lower the cost of car insurance:

    Stay Accident Free- Being involved in auto accidents will raise your car insurance rates. Staying accident free (usually an insurance company will require a set timeline for this, 3 or 5 years) will help lower your car insurance premium.

    Type Of Car You Drive- Sports or imported cars bring in a high price ticket along with high insurance premiums. Many insurance companies give discounts to compact or utility cars as they are much cheaper to fix.

    Additional Features Included In Vehicles- Discounts are given to additional air bags, automatic seat belts, anti-lock brakes or other safety features that are installed in your automobile. The client should check with their agent about any discounts on premiums related to safety features.

    Credit Score- A better credit score for clients will generally mean a better rate on insurance. If your credit was bad during the time you first signed up with your insurance company, another 6-8 months of good credit history may raise your score enough to get a discount.You could as-well  Check your Credit Score - Fast, Free & Easy at CreditReport.com.

    Discounts For Employees- Sometimes a corporation will partner up with an insurance company and offer discounts. A client should check with their employee and see what benefits (if any) they have to offer.

    Deductible Increase- By increasing your deductible, the premium rates will drop. The only downfall here is that a client must keep a set amount saved in an account just in case an accident does happen.Visit car insurance deductible - useful saving idea to learn more about this.

    Insuring Multiple Policies With The Same Company- By combining your car insurance with your homeowners, life insurance and other policies, insurance companies will give a multiple policy discount.

    New Insurer- At times, if you switch insurance companies, they will offer you a discount to enroll with their services.

    Age- Getting older isn't always bad! When you get older, insurance premiums will decrease as well (as long as there isn't any claims, accidents, violations, etc.). Some of these age plateaus are at 25, 55, 65, etc.

    Alarm/Security System- Cars equipped with an alarm system and GPS are eligible for a discount. A client should check with their agent and make sure they are receiving the proper discount.

Many people that shop for car insurance, will find the lowest priced insurer then retain them for years, not knowing about additional discounts that they could be eligible for. Always keep close tabs on your insurance and speak with your agent about any additional discounts that you can qualify for.However, ensure you compare car insurance quotes from time to time to make sure you are paying the right price to value.

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How to Lower Your Teen's Auto Insurance Rate

Sooner or later, no matter how much you want to avoid it or how much you dread it, your teenager will learn to drive. Worse than that, they may even get a car. To top it all off, they will have to get insurance for that car. We all know that getting an auto insurance policy for a newly licensed teenaged driver is expensive.

Forming a partnership between you, your teen and the insurance company will help you to reduce your rates and maybe keep a few extra dollars in you pocket. Here are a few tips:

    Maintain a clean driving record: Make sure that your teen is aware of the laws and restrictions in your state. Instill in your teen the importance of following the rules of the road. Just one traffic violation for a newly licensed driver may have you paying two to three times what you should pay. Until your teen can afford to pay for his own policy, he must keep a perfect driving record to protect your pocket.
    Follow my lead: Are you setting a good example? Do you speed? Do you tailgate? Your teen is watching you. Make sure you show them how it should be done. Remember, your teen who will definitely drive very soon is watching you too.
    Maintain Good Grades: Students who maintain an average of B or above may earn up to a 25% discount on insurance rates.
    Drivers Education: Many insurance companies offer lower rates to teenagers that have completed qualified driver's education courses. Before you spend money on a course, check with your insurance carrier to find out which schools they accept.
    Safety: When looking for a car, keep in mind that insurance companies like safety features. The safer the car, the lower the rate. The faster and newer the car, the higher the rate. Do a little homework before buying your teen a car. Be aware of the theft or vandalism rate for the car you're buying. The more likely it is to be stolen or vandalized, the higher your premiums.
    Alcohol and Drugs: Under aged drinking is illegal. Your insurance company may void your policy as a result of an illegal action.
    Watch your teen in action: Drive with your teen from time to time. See if they are still the safe driver they were when they first got their license, or have they developed a few bad habits. Be a passenger and observe. Compliment them if they're doing a good job, or diplomatically point out potential problems.
    Talk to your agent: Your insurance agent can help you to determine whether or not it is cheaper to put your teen on your policy. If you drive an expensive car, your rates may increase dramatically by adding your teen. It might be cheaper to get a separate policy, depending on the type of cars in your household. Your agent can offer advice on the best way to insure your teen's car.
    Shop: Get a couple of quotes and compare.

Working together with your teen and insurance company will help you to get the best auto rate for your teen possible. It's worth the effort.

Finally, take your time to visit at least three sites that provide multiple auto insurance rates. Each site will only take you 5 minutes at most. However, if you consider that this simple exercise will save you hundreds of dollars, you'll agree it's well worth your while.

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