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In this world wide recession, many of you are asking how to save money on your car insurance premium. It boils down to this one bit of advice: don't just automatically renew when your car insurance bill comes. The three steps on the left of this page are stuffed full of actual things you can do today to save. It is not recommended to save by not having car insurance.
On October 22, 2009, Voxy reported that a third of the accidents in New Zealand are caused by drivers who don't have insurance. Voxy goes on to explain that these drivers end up losing their houses and all their assets trying to pay for damages that they owe because of the car accidents they caused. Voxy points out that it is much more cost effective to have insurance. Voxy recommends at least having liability insurance to pay for injuries and the damage to other cars, even if you don't have collision insurance to pay for the damage to your own car. http://www.voxy.co.nz/national/uninsured-drivers-danger-others-and-themselves-says-aa-insurance/5/28078
Tips
- The deductible is the amount you have to pay before your insurance starts paying.
- Having a higher deductible makes your car insurance much cheaper.
- It seldom pays to have collision insurance on cheap cars that are more than six years old.
- It's often cheaper to pay yearly rather than monthly.
- Monthly can be cheaper if you have premiums direct deposited to your insurance.
- You do not have to wait until your renewal date; they will refund the unearned premium.
- Sports cars are more expensive to insure.
- Car insurance is more expensive if you live in a high crime neighborhood.
- Car insurance is more expensive if you drive a long way to work.
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Introduction
How do you save on your car insurance premium? Make sure to get all the discounts that you deserve. Shop around online or on the phone for the cheapest car insurance company. Don't just automatically renew your car insurance when the bill comes. Consider changing your lifestyle a bit. Read on for the details on these bits of advice, further down the page. -
Recession Busters - How to Save on Insurance Premiums
Hella Wellings looks at how to save up to $1,500 per year on car insurance. In this video they call the deductible "excess," as they are in South Africa, but their "excess" is the same thing as what Americans call the "deductible". This is the amount that you pay before the insurance kicks in. Raising this amount can substantially lower your insurance premium.
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Step 1: Ask Your Car Insurance Company About Discounts
Almost all car insurance companies give discounts for safe drivers whose records show no tickets or accidents for the past three years. Check your driving record for mistakes. Other discounts that most car insurance companies give are: good student discounts for your kids, accident-free household, claim-free household, burglar alarm installed, GPS installed, skilled driver's course discount, senior, air bags, and anti-lock brakes. Most companies also let you save money on your car insurance premium if you insure your house, all your cars, and all your drivers with the same company.http://www.carbuyingtips.com/insurance.htmStep 2: Don't Just Automatically Renew
Shop around. A few hours on the phone or on the computer getting quotes from other insurance companies could save you hundreds of dollars on your car insurance premium. Buying online rather than through an agent can save a lot. Check what coverages you are paying for. Consider reducing your collision deductible. On cheap cars that are more than six years old, consider dropping collision insurance. You do not have to wait for your renewal date to change to a different insurance company, or to change coverage with your current company.http://www.hometownquotes.com/how-to-change-auto-insurance-companies.htmlStep 3: Consider Lifestyle Changes
You can save money on your car insurance premium if you drive a more conservative model of car, one that is not a sports car and is not likely to be stolen. Married people pay less than single people. Smokers pay more than non-smokers. Living in a safer neighborhood and living closer to where you work are also ways to save. You save fees in many US states and in many countries by paying your car insurance premium in full at each renewal instead of paying a little each month. If you must pay monthly, look into having monthly payments automatically deducted from your bank account, for a discount.http://www.credit.com/credit_information/auto/Four-Keys-to-Driving-the-Best-Bargain-on-Car-Insurance.jspResources Powered by Google
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