Car Accident What Insurance Gets Charged First Medical or Auto
10 Auto Insurance Hacks to Save You Money
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Over the years, car insurance costs have been on the rise leaving people paying fortunes to maintain their cars. Insurance Information Institute reports that the average auto insurance expenditure of an American falls within $800-$900 per year. According to AAA reports, the insurance expenditure for sedans ranges between $1,000 and $1,500. This clearly is quite high yet people need cars and in extension a reliable insurance coverage. While you can't control the rise in insurance costs, you can certainly reduce your rates. Here's how.
Go for a Defensive Driving Course
A defensive driving course helps you become a safe driver. Some insurers also offer discounts for drivers who've passed the test. For instance, in New York, a defensive driving certification could reduce your rate by 10% for three years. In Connecticut, it slices 5% off your premium if you are aged 60 years or more.
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Combine Your Insurance Plans
Most insurance companies are more likely to offer you a discount if you rely on them for most of your insurance coverage. If you already have a home policy with a great insurance company, going for an auto in the same company might just offer you lower rates.
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Increase Your Deductible
A deductible is a cost you cover before the insurance company can step up to offset the remaining repair costs. By raising the deductible, the amount to be paid by the insurer decreases and so does your monthly rates. However, set the deductible to an amount that you can readily afford should an accident occur.
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Compare and Contrast
Before you purchase a car insurance, scour the internet to find the best possible insurance quotes. Look for the ones that offer the best discounts based on your car type, occupation and utility. For those who already have an insurance, ensure that every year you look around for better rates and adjust accordingly.
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Consider a Pay-Per-Mile Auto Insurance
Insurers charge hefty premiums whether you are a short distance commuter or long-hauler. Pay-per-mile coverage, where you pay a base rate followed by a few pennies for every mile, provides a solution for this. It allows you to pay based on your miles inclusive of other aspects such as bodily harm, property damage and motorists' coverage.
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Revise Your Payment Method
Insurance Zebra 2016 reports that paying your premium in full instead of small monthly installments saves you well over $60 yearly. In the same report, an electronic wire transfer from bank to bank can also save car owners more than $25 each year. Besides that, consider autopay methods that come with e-payment options to avoid missing a payment and the associated relapse fines.
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Consider Second-Hand Cars
Typically, a five year old car costs 18-25% lesser than a new one in terms of insurance. A more 10 year old car offers less than half the insurance cost of a new one. So even though you might fancy the feel of a brand new car, bear in mind that it comes with an increased insurance.
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Keep your Credit Score High
Just like lenders, insurers check your credit score and offer discounts based on its strength. The credit score helps them evaluate how likely you are to file a claim. So get your records straight with FICO to be eligible for insurance discounts.
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Install Safety Equipment
Safety kits like collision warning, lane change assistance and backup cameras improve your car safety big time. Insurers often provide discounts based on your car's safety. Some cars come with such kits while for some you might need an aftermarket customization. So weigh between your insurance premiums and installing a simple safety kit. The latter might just offer you long-term cost savings.
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Consider Alternative Transport
Most insurers offer rates depending on your car mileage. So consider alternative transport or car-pooling whenever convenient. Where you can walk, do so. You won't only reduce your car mileage but also better your health.
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Car Accident What Insurance Gets Charged First Medical or Auto
Source: https://www.bloglines.com/article/auto-insurance-hacks-to-save-you-money?utm_content=params%3Ao%3D740010%26ad%3DdirN%26qo%3DserpIndex