Four out of five people want to save money on their car insurance ...

by mbhunter

Want to save money on their car insurance? I don’t know of any good reason why you wouldn’t, so here are some tips for knocking that expense down as much as possible.  Hopefully at least a couple of them are new to you:

Buy a car that doesn’t cost that much to insure. If you’re in the market for another car, considering the total cost of ownership of the car is a wise thing to do.  Buying used is a good start.  But is the car likely to be driven fast?  Is it likely to be stolen?  Or is it likely to be driven carefully?  This will factor into the insurance cost.  Take it into account as you’re looking. As with anything else, shop around for insurance. Some companies give you more insurance (or better policies) for your money.  Look around. Don’t be stupid with your driving. Tickets and accidents classify you as more of an insurance risk.  The insurance company may forgive you once, or even twice, but after that, it will cost you for a few if they have to pay out on your behalf, and it’s your fault. Look into car options that reduce insurance costs. This is part of the tip I just mentioned, but things like automatic seatbelts, passenger-side airbags, etc. — things that tend to make vehicles safer — make them less costly to insure. Kick the deductible higher. A higher deductible means that the insurance company has less at risk should you file a claim.  They pay whatever they pay, and deduct the deductible.  A higher deductible means a lower payment.  So if you’re a careful driver and can self-insure some part of an accident, this is a good strategy. Drop collision on low-value cars. If your car’s value is $1,000, the company pays 75% of that in a total, and you have a $500 deductible, you get a whopping … $250 for your car.  Is it worth paying collision for that? ...

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