Buying Auto Insurance (part 4 of 4) Continued from part 3.Think About it: You Need to Buy Insurance to Protect Yourself, Passengers, and Family Members by Purchasing Underinsured Motorist Coverage (part 4 of 4)One serious mistake is to decline UIM coverage. Some companies require that you ... How to Get Pet Insurance for Your Dog Have you taken your dog to the vet recently? Did you balk at the cost of a regular check up or the price tag of your dog's medicine? In a more extreme example, your dog may have eaten something that didn't agree with them and they are convulsing and ... Title Insurance Protects Your Financial Investment Title Insurance Protects Your Financial InvestmentBy Neda Dabestani-RybaPrudential Carruthers REALTORSYou purchase homeowners insurance to protect yourself financially in case something happens to your property or its contents. However homeowners ...
9 Ways To Reduce Your Insurance Premium
2. Raise your deductible. Many deductibles are in the $300-$500 range. If you raise it slightly you'll see a reduction in your auto insurance rate. Even when people are slightly above their deductibles they pay out of their own pocket to reduce their premium. A higher premium ($750-$1000) can save serious money over the years.
3. Try to insure everything (house, second car, RV, boat) with one company. With everything insured with one company, it'll be cheaper overall and easier to manage. Also, have all of the drivers insured with the same company. You may get a loyalty discount.
4. Have you taken any driver's education courses in the last few years? This mostly applies to new drivers. If so, you likely qualify for a discount. Insurance companies want to know that you know the basics, and have studied the rules of the road. If you're older, you may want to take a refresher course in defensive driving or perhaps a skid control school. These are fun and educational.
5. Many insurance companies also offer a discount for students who maintain good grades in school. That's right. Some insurance companies offer discount of between 5%-10% for students who maintain a higher average.
6. If your car has airbags, ABS, or an anti-theft alarm you may qualify for a discount. It's simple. Airbags help keep you safe while in an accident. ABS helps you to avoid an accident and an anti-theft system prevents your vehicle from being stolen. All of these are good for the insurance company so they'll often lower your rate.
7. Drive responsibly. Insurance companies will lower the rate as you prove you're a good driver. Every year without an incident your premium should go down. Once you hit 25 your rate should get reduced by about 1/2. But if you've had a number of speeding tickets and accidents, get prepared for significantly higher rates.
8. Reduce coverage on older vehicles. There is no point in fully insuring a car that is not worth very much. If the car is only worth $3000.00, any significant damage will cause the insurance company to write off the vehicle. And you'll only get what the vehicle was worth wholesale. So you may get $1500.00 from insurance but your rates will increase on your next vehicle.
9. Try to purchase a "low profile" vehicle that isn't a target for thieves. The more likely your vehicle is to get stolen the more it will cost to insure. There are some great cars and trucks out there. If you really want lower rates stick with something conservative.
