Auto Insurance Buying Tips

The insurance business has been in my life for a number of years now as my Wife has been a registered Insurance broker, Customer service rep for over 10 yrs now and enjoys it very much. When we are out socially and talking to friends the insurance topic always comes up, and the most often question asked is how can I save on car insurance.
So, here are a few tips that will save you some money.

Insurance Tip #1

The deductable, increase it.

The higher your deductable, the lower the premiums.A deductable is the amount of money you have to pay up front when you make a claim. If you have a 4000 dollar claim, and your deductable is 500 dollars, you pay the 500 deductable and the insurance company pays 3500 dollars. By doubling your deductable you can lower your premium costs by up to 10%.

Insurance Tip #2

Get auto insurance quotes before you buy that new or used car.

Obviously the insurance on a car worth 20,000 is less than a car valued at 40,000 but other factors come into play here aswell.Factors such as make and model,age. safety features, sports cars, SUVS, all play a huge part.

Insurance Tip # 3

No What Coverages You Have Already

Before shopping around for insurance quotes, know excatly what coverages you presently have on your policy, so you are prepared to compare coverages and premiums. In some cases insurance companies are able to match or better the coverages while leaving the price of the policy virtually the same premium. Always know what your insurance coverages your policycontains, and at what cost you are paying for those insurance coverages.

Insurance Tip # 4

Have all your insurance needs under one company,

lots of insurance companies will offer discounts to those with multiple policies, home,car, life insurance ect. Ask for any other discounts they may offer as well some insurance companies offer low mileage, Good student, Good drivers and senior discounts. All great money savers.

Insurance Tip # 5

Take the time to shop around,

This can be a long process, however it can be well worth it in the end with money saved. The internet is much easier,and can be quicker to get your auto insurance quotes. However alot of insurance companies are not offered on the internet and alot of online web sites that offer to find you the best quotes, often cater to the insurance companies that pay the web site the most for their services.My wife says she would rather give insurance quotes over the phone instead of online, the phone is more personable, and the information given back and forth is much more acurate. Plus talking in person to a registered broker shows that you are sincere about the possability of purchasing insurance with that company and a repore can be made between you and the broker,making the process a little more enjoyable. So after recieving all your auto insurance quotes from the internet, call personally to the companies offering you the best policies.

Insurance Tip # 6

Insurance Companies Considerations

Alot of things are to be taken into consideration by the insurance companies when they put together your auto insurance quotes. driving history, credit record, years of expirience, age and type of vehicle, and the area in which you live,All things insurance companies look at before giving a quote.Insurance companies must be able to supply insurance to those people who have good records and those with less desirable ones. Most drivers are placed in a standard market and for those that do not qualify for the standard market, they are placed in what is called substandard. A substandard market is for those drivers whom have had multiple claims, convictions, threeor more tickets, or repetitive non sufficient chequing funds. ( NSFs )

In All

All these things need to be considered when looking to purchase auto insurance and gettingyour auto insurance quotes. It can certainly be a very stressful and confusing event,but by doing alittle research and taking the proper time, you will learn alot more about the insurance bussiness and quite possibly save you some money aswell.

And we all like saving money right?