Auto Insurance Options in Tough Times
Everyone knows that times are tough, and we're all trying to find ways to spend less money. But take it from me, cutting back on your car insurance coverage is not the place. Car insurance is meant to protect you against financial losses if you have an accident, and according to the National Association of Insurance Commissioners more than half of consumers are inadequately insured. But if the amount you're paying for car insurance looks somewhat intimidating, you can find additional savings.
One way to save on your car insurance is raising your deductible, thereby lowering the price of your premiums. It's important to note that if you do raise your deductible and get in an accident, you have to pay more out-of-pocket.
Who doesn't love a good bargain? Getting multiple auto insurance quotes from various car insurance providers can help you find a better rate without lowering the amount of coverage you already have.
Many insurance providers offer discounts for safety and security features. So if your car has airbags or an alarm or anti-lock brakes you'll be in for some savings. And since you are such a good driver (aren't we all?), see if your insurance provider offers good driver discounts.
You can get a discount on your car insurance if your annual mileage has gone down. Did you start carpooling to reduce your carbon footprint? Or did you just cut back on your driving because gas prices were ridiculous this summer? Let your provider know who you've been conserving so you can keep more cash in your wallet.