Be Thrifty and Buy Better Car Insurance!
The tug of war between buying cheap car insurance and opting for a more comprehensive policy is a struggle that many consumers face. Are you going to do your best to save money, even if it means buying a lesser amount of coverage? Or do you plan on spending as much as necessary to get the best possible car insurance? As you attempt to answer these questions, you need to consider your budget as well as how much coverage you need to keep yourself and your car safe.
Believe it or not, there are things you can do to save money on car insurance coverage without opting against the right level of coverage.
1. Shop around. Just because your current car insurance company is overcharging you does not mean that every other provider is going to do the same. Why not receive quotes from three or more companies? This will give you something to compare against your current premium. Soon enough, it will be clear if you are spending too much on a policy or are actually getting a good deal.
2. Ask for discounts. This has nothing to do with the actual coverage that you are paying for. Instead, it is all about saving money. The more discounts you get from your car insurance company the more money you are going to save. If you are not asking about new discounts at least once per year you could be missing out on big savings.
3. Increase your deductible. This has a direct effect on your actual coverage. That being said, it is not one of the bigger changes that you could make. In short, the higher your deductible the more money you will pay out of pocket if you make a claim. The rest of your coverage stays the same, it is just the deductible that increases.
By increasing your deductible from $500 to $1,000, for example, you may be able to save in the range of $15 to $25 per month. How does that sound to you? Best yet, if you are never make a claim you never have to worry about paying the additional $500 before your car insurance kicks in to cover the rest.
Tip: a higher deductible is perfect for drivers who have a long history of avoiding accidents.
There is a fine line between being thrifty and not purchasing the right car insurance coverage. If you are worried that you are paying too much and/or not getting enough coverage, you need to discuss your policy with your insurance provider.
Once you find a happy medium regarding the price of your policy and the coverage that you receive, you will feel better about the future and safer while on the road.
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