Tips to Get Affordable Car Insurance
You cannot eliminate car insurance from your budget because it is mandatory by law in all but just one state. You can, however, use these helpful strategies that can get your automobile premiums lowered and put money back in your pocket.
1. Get a Car that is Cheap to Insure
When you purchase an automobile, there are several things you need to consider including the cost, maintenance and the price of insuring it. Even if you pay $1,000 more for the vehicle, you can easily make up that amount with lower insurance costs. In general, stay away from high-performance cars like Porsches and Corvettes. While these automobiles are fun to drive, they can cost a small fortune to insure. The faster you car is in most cases, the higher the insurance bill will be. Next, stay away from premium vehicles that are costly to repair like Jaguars.
Some exotic cars have pure aluminum bodies that are extremely expensive to fix. Automobile insurers will factor these repair or replacement costs into the cost of your premiums. You will end up paying in some instances double the cost for insurance to a comparable, less costly vehicle. You will pay significantly less for boring automobiles like the VW Jetta or Subaru Forester. While these autos might not be as fast or fun, they are safe and will save you money on auto ins.
2. Do not Purchase a Vehicle that is on the Annual Top 10 Most Stolen List
For those who are in the market for a used or new car, you should first check the annual top 10 vehicle theft list. You should then stay away from all of the cars on the list if you want to get lower insurance prices. For the last decade, the Honda Accord and Civic have been in the top 3 almost every year, this is because thieves have such an easy time reselling them. Older Honda models are often worth less than $5,000, making a possible jail sentence, if caught, unlikely. Most people think that high-end cars like BMWs are in the target of thieveries the most, this is not true.
Thieves most often target foreign made cars like a 2006 Honda Accord because they are easy to steal, and there is an enormous overseas market for these automobiles. In 2013, the Audi, BMW and Lexus brands all made the top 10 list of the least stolen cars. Consider getting a used Audi that has depreciated 70% or more if you are on a tight budget. You will have an exotic ride that is fun to drive and cheap to insure.
3. If you have an older Automobile, reduce your Coverage and Save
Do you have comprehensive coverage on your older vehicle that has depreciated more than 65% since you purchased it? If so, you might want to think about getting rid of this more expensive protection. Why pay an extra $700 or $900 a year in insurance when the vehicle might be worth just $3,000 or less? It might make more sense financially to save that money and invest it. You could then buy liability coverage for the state minimums and reduce your premium cost. It is possible to buy this primary insurance for $29 a month in some areas for qualified drivers. If you are ever in an at-fault accident and your car is totaled, you will likely have the money already save up.
4. Select a Higher Deductible and Save
Did you know it is possible to save 10% or more on car insurance just by raising the deductible? the easiest ways to save and still get adequate automobile coverage is this one. If you want to save the most, consider a deductible of $1,000, this will lower your premiums quite a bit, but remember to set aside this amount in the unfortunate event you end up in a crash and file an insurance claim.
5. Drive less and get Cheaper Auto Insurance
Insurers calculate your rates in large part based on the risk you poses of getting involved in an accident. The more you drive, the more you are exposed to the possibility of a crash. On the contrary, the less you drive, the less likely you are to get involved in any incident. Just by driving less than 1,000 miles monthly, you can save 10% or even more with most insurers. It might mean making some lifestyle changes, like not taking as many long drives or even hooking up with ride-sharing services to work, but you will save a lot on coverage each year.
6. Bundle All your Automobiles and Home together with one Insurer
One of the best insurance tips is to combine your cars and property with one company; this makes sense for several reasons. The first is you can get huge discounts of 10% or more. The second is you will save much time by dealing with just one insurer and one bill. Having your insurance simplified will make your life easier and make claim processing even faster.
7. Find the Best Rates on the Web
Do you know that most people find the best auto insurance deals online? This is because insurers know people start their buying process on the internet. If you want to match with up to ten companies, just apply for a fast on-line quote. You will even get full credit for any discounts you qualify for like military or good driver.