Thursday, 18 August, 2016

Best Hacks to Get the Cheapest Auto Insurance

No matter what kind of auto insurance you are looking into buying, liability or a full coverage, it’s sometimes best to shop around to find the cheapest packages. There are other ways that you can lower your insurance cost as well. Here are some of the best hacks with regards to finding the cheapest insurance.

Comparison

It all starts here with comparing the different networks and their costs. For example, GEICO or Progressive may claim that they have the cheapest options, but that doesn’t necessarily mean those options are for you. You’ll want to check out each of the bigger names. Nationwide, State Farm, and Travelers are some of the more traditional insurance agents, while also offering the most affordable rates. There are also smaller insurers in every state that could possibly save you a lot more than these bigger names.

Discounts

One way to check out if the insurance will work for you is by checking out that company’s discount program. Many insurers will offer discounts based on your age, state residency, and whether or not you are active military or a veteran. Being a student can also earn your discounts towards your car insurance, so it’s best to look into any saving options that you might have.

Other savings include low-mileage driving discounts. You may either work at home or not that far away. The key point here is to make sure you are asking for all discount options to take advantage of.

One last way to take advantage of an insurance company’s discounts is to consolidate all of your insurance policies with the one company. “Bundling” can be advantageous for you if you’re looking to save in all the different areas of insurance.

Life Changes

If you are recently married or have moved to a different neighborhood, chances are there are savings in store for you through your insurer. Cities that have lower crime rates and/or a better transportation system have seen their rates drop considerably. For example, if you can travel by train or bus to work, your accident risk goes down, which, in turn, lowers your rates.

Increased Deductible

Having a higher deductible on your collision and comprehensive can land you cheaper insurance rates. Sure, it means more money out of pocket should you have an accident, but it you don’t drive much or can handle any financial problems that may come with an unforeseen accident, this is just another way to save monthly costs.

Vehicle Options

The type of car your drive can also add or subtract your insurance costs. As an example, a Honda Civic may cost a lot more to insure than a Corvette. Most of these costs depend on the vehicle’s susceptibility to damage and/or loss.

Improvements

The last hack to get your auto insurance at a cheaper rate is through improvements. The first improvement is your credit score. If you have a lower credit score, chances are that your insurance rate is higher. Start cleaning up your credit and you will notice a substantial decrease in your car insurance rates.

The second thing you may need to improve is your driving record. If you have a bunch of tickets or accidents on your file, your rates may have increased through the roof. Different insurance companies have a “safe driver” program and you want to do your best to get involved with it.

Finding cheap insurance is a lot easier when you ask for it. Make sure that you take it upon yourself to ask for these discounts as some agents may not bring them up on their own. There are a lot of great options in savings, you just need to look for them.