Are You Leaving Money On The Table When It Comes To Car Insurance? With the overall economy being what it is, with gas prices going up, with taxes rising, it is further significant than ever to find ways to save lots of money. One place that you can save a lot of money is on your auto insurance.
But you know what’s interesting? No matter how many commercials we learn from companies like Geico and Progressive letting you realize to shop around and receive the best rate, no matter how many of those publications we see, 90% of individuals never shop.
Make certain that you’re not that specific individual. You work long hours and you don’t want to leave money on the table that you could have saved on your auto insurance. You save a lot of money — hundreds and maybe thousand each year — just by making a few calls and shopping around.
Now, the Insurance Research Council says that if you check around, you save roughly $900 each year on your auto insurance. Think of all the things you can buy for $900.
Where should you start?
Well, call your insurance provider and asked them if you meet for any of the several discounts that they provide. I’ll wager you do not even understand all the different discounts you could have. Obviously, there are auto insurance discount rates for things like getting a good driving record, but did you know that if you’re a student and you have good marks, you can even get a discount for that? Now, it could only amount to 2-5%, which doesn’t appear to be a great deal. But all of a sudden, a couple of percents does accumulate.The biggest discount comes if you have a good, accident-free driving record. That can be credited up to 20% in discount rates per the calendar year in cost savings. But as soon as you get into an accident — there go the special discounts. So be vigilant.
And speaking of tickets, make sure you understand how many points you have on your license. Unless you keep it in mind, call your Motor Vehicles and have them research your record. Of course, if you have substantially more than 3-4 points, you might qualify for a discount simply by taking a safe practices course. Now many auto insurance firms will sponsor classes to encourage safe driving and sometimes you may take those classes and reduce your insurance costs. We’re not talking about a lot of your time — maybe 1 day or four or five hours over several days and nights. Most of the classes cost a small amount of money but not too much — maybe $20-$50. But that’s a tiny price to pay in order to get a substantial discount on your vehicle insurance.
Of course, it should go without stating that you’ll need to shop around every couple of years. Look around, compare prices. While you believe your present auto insurance company is the best one, things change.
Your rates also rely on your geographical area. If you’ve relocated or if you’re planning to move, shop around for auto insurance. Your car insurance company might give a completely different rate for the town you’re about to move to.
So that’s the reality of saving cash for your vehicle insurance. Shop around and compare prices. And undoubtedly, drive safely. It really pays.