Learn to Adjust Car Insurance Rates
If your car insurance premium rates are too high, there are ways that you can lower it. Auto insurance premiums can be very expensive, but there are ways to adjust the cost by making adjustments to your policy. In addition, you can always look for the lowest car insurance rates at another company if you are not pleased with your current company or feel you are paying too much.
Contact Your Current Agent
The first step in lowering your insurance premiums is contacting your agent and asking them to adjust the rates. Many people do not realize that they can do this, but often agents will have add-ons to your policy that are making your rates higher. Have your agent go through with you on all the features of the plan. By doing so, you may be able to save $100 or more per policy period just by cutting off the unnecessary extras that you never use.
Take Out Higher Liabilities
One of the ways to adjust the cost of your premium payments is to decrease the amount your insurance company will pay if you have an accident. Sometimes, if you have a lienholder, they may require you to carry a specific liability amount. If they do, make sure you know what it is and that your agent is not including any extras.
Increase your Collision and Comprehensive
Your deductibles make a huge impact on the amount you pay in premiums. If you have a lien on the car, you will want to find out what deductibles are for you to carry, which is typically $500 or $1,000. This is your out-of-pocket expenses in the event of an accident. Often insurance agents will quote you a $250 deductible, which will make your insurance premiums much higher. In fact, this is the one area of your policy you want to pay the most attention to because it affects your rates more than anything else.
Check for Discounts
Are you an excellent driver with no tickets or accidents? Many insurance companies will offer you a discount for having a clean record. Are you over a certain age? Seniors qualify for discounts, which can bring your rates down even further. In addition, if you have anti-theft security features on your vehicle, this also qualifies for a discount. All of these combined can literally save you hundreds of dollars in premiums each year.