16 Details That Will Help You Find Inexpensive Auto Insurance

How much money do you spend every year in car insurance? What if we told you can get inexpensive auto insurance with a little knowledge and a few tips from the BuyingAdvice team?

The first step to auto insurance savings is understanding how your rate is calculated. There are many Auto Insurance Myths & Realities but there are 7 basic aspects companies look at when determining your rate:

1. Your car – Year, make, model, body type and engine size.
   
   
2. Auto Insurance claims – Insurance companies believe that the more accidents you have, the more likely you are to have another one.
   
   
3. Your driving record – If you abide by the law you’ll be fine. Speeding tickets and DUIs will hurt your insurance rates badly.
   
   
4. Usage – Work, pleasure or business? The rule of thumb is simple: the more you drive, the more likely you’ll be in a car accident.
   
   
5. How many drivers are included in your policy and what are their ages.
   
   
6. How many vehicles you own.
   
   
7. Your credit score – Insurance companies are now using your credit history when determining your insurance rate, so pay your bills on time.
   
   

Armed with this information, you can now work at reducing your rates following our 9 money saving tips:

1. Consider your deductible – Higher deductibles mean lower car insurance premiums, however, you shouldn’t do this unless you can afford to pay the deductible in case of an accident.
   
   
2. Ad safety features and anti-theft devices to your car and let your insurance broker know about them.
   
   
3. Consider the cost of insurance when purchasing a new car.
   
   
4. Revise your car insurance policy and premiums every year – Rates vary and so do your needs. Revise your policy and you may be able to get a better deal if you change car insurance.
   
   
5. Reduce coverage – If your car is worth less than 10 times the premium, purchasing comprehensive coverage may not be cost-effective.
   
   
6. Voluntarily taking a driver safety course may lower your rates. This is especially true in the case of young drivers and driver’s ed.
   
   
7. Shop around for car insurance – Your broker may only be affiliated with a few companies, which can keep you from other more accessible rates with a different car insurance group.
   
   
8. Check the Internet – Car insurance company websites post their best rates online. You can also take advantage of car insurance estimators available on the web and comparison-shop for inexpensive auto insurance.
   
   
9. Most insurance companies will give you a discount if you store your car in a garage overnight.

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