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Thursday, May 31, 2012

6 Smart Car Insurance Tips


Finding car insurance that both meets your needs and fits within your budget can be quite a challenging endeavor--and with so many factors to take into consideration, a few helpful tips can get you a long way. If you're looking for some guidance when it comes to car insurance, you've come to the right place. Featured here are 6 smart tips that will get you on the right track towards finding the best car insurance policy for you.

Obtain Multiple Quotes
Never purchase the first car insurance policy you come across without checking to see what else is out there first. Obtaining multiple quotes from various insurance companies and comparing the policies to one another is the best way to find a great policy at the most competitive price.

Inquire About Discounts
Many insurance companies offer discounts to qualifying drivers--but they might not tell you about them up front. When obtaining a quote, find out what kinds of discounts are offered and whether or not you're eligible for any of them. Discounts are frequently available for good driving records, claims-free histories, top-notch students, and loyal customers--just to name a few. Discounts vary from company to company, but are definitely worth inquiring about if it'll mean saving a little bit of money on your car insurance policy.

Consider Adjusting Your Deductible
Car insurance rates are partially calculated based on the deductible that you choose to have on your policy. A higher deductible will mean a lower premium, while a more affordable deductible will cause your monthly premiums to increase. If you have enough money saved to cover a deductible should you have to pay it, consider raising your deductible to the next level to get a lower price on your policy. If you don't have an emergency fund set aside for a rainy day, you're probably better off paying a bit more for a low deductible so that you'll be able to cover it in the event of an accident.

Purchase Adequate Coverage
Don't be blinded by a good price on a car insurance policy without first making sure you have all the coverage you need. A low price could mean some sacrificing, so don't skimp on your car insurance just to save a buck or two. Consult with your insurance agent about what kind of policy would best protect you--and along with liability and collision coverage, you might want to look into uninsured motorist protection as well. While liability would cover the other party in an accident that was your fault and collision would cover your own damages, what would happen if you were to be struck by another vehicle driven by someone with little or no insurance? If you don't purchase adequate car insurance, the money you do spend on a policy that falls short will ultimately be wasted.

Bundle Your Policies
If you already have insurance policies with a particular company for things such as life, health, homeowner's, or renter's, ask your insurance representative about whether or not you can bundle your policies by purchasing car insurance from them as well. Multiple polices bought from one place usually come with better rates, and if you like the insurance company that you already buy from, why not trust them with your car insurance needs as well?

Know What You're Paying For
You should know what you're paying for when it comes to your car insurance policy, so don't purchase one blindly without taking the time to review it first. Take a look at exactly what kind of protection your policy offers, taking note of all exclusions. Never assume that something is included until you've verified it for yourself in print. If you have any questions about what exactly is included or excluded in your policy, discuss them with your insurance agent and clear up any questions you may have as soon as they arise.
Maintaining a car insurance policy is part of being a responsible automobile owner, therefore it's important to be well-informed when purchasing, changing, or updating a policy. Use the tips listed above to help you make smart decisions so that you end up with a policy that suits all of your car insurance needs.
Guest post from Sam Landon. Sam writes for CarInsurance.org.

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