- Compare prices and services. Prices for the same coverage can vary greatly from company to company. Request at least three quotes (for the same product) from three different sources; either from insurance agents or brokers, directly from the insurance company, or via the Internet. The Department of Insurance in the state where you live may have guidelines (guides) for how much insurers charge for different types of auto policies. Some insurance companies have their own agencies, and they may also offer their policies through licensed agents or insurance brokers who simultaneously handle insurance from several insurance companies. Other companies sell their products or policies directly to the consumer, through Internet services or over the phone.
- Ask for quotes from various types of insurance companies. The insurance company you choose should not only offer you good prices, but also excellent service. In some cases, better service may cost you a little more. Also, compare the service of the different agents you contact and ask them what they can offer you to reduce costs. Don’t buy based on price alone, ask your friends and family for references about insurance companies that have given you good service and good prices. The Department of Insurance in the state where you live can tell you if the company you are considering doing business with has received complaints, and in what proportion, compared to the number of policies it sells. Find out the financial rating of the companies that interest you through any of the independent rating agencies such as AM Best or with Standard and Poors, and even consulting financial or consumer magazines. Select an agent or company whose representative will take the time to answer your questions, as this is the company you will have to deal with in the event of an emergency or accident.
- Before buying your car, shop around for insurance costs. Be sure to find out how much it will cost to insure that car. Part of the cost of insurance premiums will be affected as a result of the type of car, the purchase price, the cost to repair it, its overall safety performance, and the chances of the car being stolen. Many insurances offer additional discounts to drivers who install security measures or whose cars have items that already come from the factory; For example, whether or not they have airbags, use daytime running lights, use devices that prevent or make theft more difficult, have security and anti-lock brakes, etc. Some states, in particular, require the insurance or insurance company to give additional discounts to their customers for installing additional security measures in their car.
- Increase deductibles. Deductibles represent the amount of money you must pay before making an insurance claim. The higher the deductible, the cheaper the insurance. For example, if you increase your deductible from $ 200 to $ 500, you will reduce your annual insurance cost by 15% to 30%. A thousand-dollar deductible can save you up to 40% on your insurance premium.
- Reduce collision and other risk coverage on older cars. Consider dropping or reducing collision and miscellaneous coverage on older cars. It may not be advantageous to pay for a policy to insure a vehicle that is worth ten times less than what the insurance will replace. Any coverage benefit that you receive will not cover the money you have paid in premiums and the deductible. A loss occurs on average once in eleven or twelve years. A car dealer or your financier can tell you the value of your car. You can also view the estimated value of your car on the Kelley Blue Book website. Also, remember to review your needs and amount of insurance coverage at least once a year.
- Buy your auto insurance from the same company that insures your home and ask for package discounts. You may also receive a discount if you have multiple vehicles under the same policy and some companies recognize loyalty by giving discounts to their older customers. Compare prices, many times you can find better deals without having to tie all the cars to a single policy.
- Take advantage of low mileage discounts. Some drivers who drive a few miles a year, less than the annual standard, may receive additional discounts; Insurers can also offer discounts to those who agree with other people to drive to work, known in English as a carpool.
- Ask about group insurance. You may receive additional discounts if you receive insurance through your employer, as part of your labor union, or through a group association as alumni of a university or similar organizations. Ask your employer or the groups you belong to.
- Maintain a good credit history. Your credit history can affect the price of the insurance policies you pay for. Although the use of credit history varies according to state laws and company-to-company policies, it is an evaluation tool that allows the insurer to rate candidates to insure them in a uniform and objective way. In fact, drivers with long-established credit histories have fewer accidents than those with little credit history. You can use Internet services to obtain information on how to know and improve your credit history.
- Ask for discounts for responsible drivers. Many insurers give special discounts for drivers who have not had accidents or traffic violations (speeding tickets, for example) for several years. You may also qualify for certain discounts if you have recently taken a driving course.
Also, ask about other discounts
For example, you may receive additional discounts if you are over 50 years old, if you are over 55 and retired, if young drivers in your household have good grades in school, they take defensive driving courses or if they are in the university more than 100 miles from your home.
So when you go shopping for auto insurance, ask about the following discounts and shop around. Remember, these will not always be available in all states or at all insurers:
- A $ 500 deductible compared to a $ 1,000 deductible.
- Policies for more than one car.
- Has had no accidents in the last 3 years.
- He has had no traffic violations in the last three years.
- Drivers over 50 years old or between 50 and 55 years old.
- Drivers who have taken driver training courses.
- Drivers who have taken defensive driving courses.
- Discounts for the implementation of anti-theft elements.
- Few miles traveled per year.
- Cars with airbags.
- Cars with anti-lock brakes.
- Cars with lights on during the day.
- Student drivers who have good grades in school.
- Car and property (home) coverage with the same company.
- Students at the University, who live away from home.
- Clients with a long and long history.
- Other additional discounts.