5 Easy Steps To Lower Your Auto Insurance Quote
Buying auto insurance today requires as much dexterity as buying the automobile itself. Thus, it’s important to know the factors that an auto insurance company considers when offering quotes. This will allow you, as the consumer, to know what ste
ps you need to take in order to qualify for a lower quote. The five easy steps to a lower insurance quote are:
1. Show yourself to be a safe driver. As can be expected, insurance companies are interested in mitigating risk. Consequently they offer drivers who are less likely to get into wrecks, or at least into wrecks of less severity, a lower insurance quote.
There are a few things you can do:
- Maintain a clean driving record, free of traffic violations or accident claims.
- Install anti-theft devices in your vehicle.
- Attend a Drivers Safety Training program.
- Buy a safe vehicle. The National Highway Traffic Safety Administration (NHTSA) and The Insurance Institute for Highway Safety together collect information on safety related aspects of different vehicles. Buy an automobile that is officially designated as safe.
- Part your vehicle in a closed garage.
2. You can show your credit worthiness. Believe it or not, insurance companies are also worried about getting paid on time. If you can show yourself to be credit worthy, there is less risk of you not making your payments on time, thus you might qualify for a lower rate.
It’s a good idea to:
- Maintain a good credit score and clear up any errors on your credit.
- Cut down on the total number of outstanding credit cards to 2 or 3.
3. In addition to showing you have good credit, the way in which you structure and pay for your policy can lower the risk that an insurance company faces with respect to you as a customer. By taking steps to lower their risk, you receive a lower insurance quote and policy. You can:
- Buy an annual policy instead of a six monthly coverage to get you a lower rate that remains the same for a year.
- Opt for automatic payment deductions from your bank account or your credit card to avoid getting charged for mail payments.
- Increase your deductibles on comprehensive and collision policies to reduce on the rates.
- Get loyalty discounts by buying your home and auto insurance from the same company.
4. Assess what insurance you need. It may be obvious, but the more coverage you get the more it will cost you. Add-ons can be killers in the insurance business, so strip your policy down to just the minimum of what you need.
- If your vehicle is not used much or you have an old car with little market value, opt for minimum liability alone. It will cost you less. Skip the collision and other add-ons.
- After fulfilling the legal mandate on auto insurance, insure according to your needs alone.
5. There are a few other things that you can do, depending upon your situation. Take into account a number of other considerations that go into your insurance quote. Some of them are not reasonable steps to take, while others you can do with little effort which can translate into substantial savings.
- If your car is used only for a particular purpose, make your agent aware of it, as this will limit the cost.
- Students that make good grades are often eligible for a discount.
- Give up smoking; it can help you get better quotes.
- Change your job if you can help it to a lower risk occupation.
It’s important that you access your situation and do what you can to lower your rates.
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Insurance is not a word usually associated with the power and glory of Hollywood – at least not to outsiders. To insiders, especially those involved in the behind-the-scenes decisions of who will be the stars and what movies will be made, it connotes a sine qua non reality of the entertainment universe. After all, once the media dressing is stripped away, what is the New Hollywood about other than minimizing risk? The stars are no exception to this rule. Sure, it may help a career to have talent, a well-connected agency, and a hot media image, but unless an actor can get insurance, he or she can’t play a part in a major movie.
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Since General Motors and Chrysler entered bankruptcy last spring, GM has stolen the lion’s share of the headlines. The General has made front page news with new products, a government loan payback and first quarter profits, while Team Pentastar has quietly gone about the business of returning to respectability. Chrysler took another step towards its goal this week as the company paid back another $1.9 billion in government loans to the federal government. In total, Chrysler has paid back $3.9 billion of the $14.3 billion in loans the company received.
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