Vehicle owners are countering rising gasoline prices and other car operating costs by capitalizing on lower car insurance rates, says leading insurers.
Auto policy costs and regulations differ significantly from state to state, but there exist a number of areas that consumers are able to control and adjust to optimize prices and quality. Here are some tips for keeping your rates down:
- Inspect Credit Rating. In all states except California and Georgia, an individual’s credit rating is a number one factor that affects car insurance rates. Acquire copies of your credit report and correct any inaccurate derogatory points.
- Inspect Motor Vehicle Report. Like credit reports, state driving records may include inaccurate data on personal driving records. Report errors to both your state motor car department and your insurance carrier.
- Double-Check Accident Reports. Local law enforcement and insurance accident reports occasionally include mistakes that will lead to a higher rate.
- Never Let Coverage Lapse and Review Deductibles. Maintaining coverage without a lapse makes a great difference in rates. Usually, drivers almost always save on premiums with higher deductibles of $500 or $1,000.
- Go for Package Rates. In addition to multiple-car discounts, consumers often save substantially by packaging all their insurance policies together with one company.
- Do not Miss Good-Student and Mature-Driver Discounts. Most insurers lower rates for mature drivers (55 years and over) and for students who carry a 3.0 grade point average or better.
- Take a Driving Safety Course. Many insurers will cut rates for drivers who take an approved driving safety course.
- Don’t Forget Vehicle Pool Credit. Many auto carriers drop premiums if you carpool to the office, particularly if you drive more than 10 miles round-trip.
- Check Rates Before Purchasing a New Car. Insurance rates vary considerably from car to car.
- Take Credit for Safety/Security Features. Drivers should ensure they are receiving lower rates for safety features such as air bags and antilock brakes.
counterbalance higher driving costs by saving on insurance.
Courtesy of doityourself.