3 Auto Insurance Savings Many People Miss

When you need to buy auto insurance, saving money should be at the top of your priority list. There are many different insurance companies out there, and there is no excuse in today’s market to overpay for auto insurance coverage. If you do, you are essentially throwing money away that you don’t need to spend. Here are three areas of savings that you might have missed out on so far.
1. Bundle DiscountsIn some cases, you can actually get a discount for bundling different areas of coverage together. For example, if you have a homeowner’s insurance policy, you could get a discount if you’ll buy both policies from the same company. You may be able to get a discount for bundling other policies such as life insurance, disability insurance, or even health insurance coverage.
2. Location, Location, Location
Obviously you hear the importance of location when people discuss real estate. Well, your location also plays a role in your auto insurance premium. Where you live as well as where you work can either decrease or increase the cost of your policy. This is why it can be smart to compare rates from sites like this one.


3. Cutting Back on Coverage

If you have an older car, you can probably save some money by cutting back on your existing coverage. If you have a “full coverage” auto insurance policy, you could potentially get rid of the comprehensive and collision insurance part of your policy. When you eliminate those portions of your coverage, you can save quite a bit of money on your insurance premiums every month. The drawback is that you would have to pay for the damage to your car if you were responsible for an accident. However, if you drive a car that isn’t worth that much money, it may be worth the risk to you.

4. Improve Your Credit

When you want to save money on auto insurance, one of the best things that you can do is to get your credit profile in order. When you start improving your credit, your premiums will go down. This is because, the insurance companies look at your credit history to determine how much of a risk you are. There is a correlation between poor credit and high claim volume. This means that if you’ll get your credit back on the right track, it can make a huge difference in saving you money on your auto insurance. You may be surprised how big of a difference it can make.

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Categories: Insurance
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Published on: May 26, 2013

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