If you’re looking for ways to stretch your budget, checking all your insurance options is an important step. Consider this: If you’re over 50 and have gone for quite some time without an accident, it’s quite likely that – even after any “rebates” you receive from your auto insurer, that additional savings could be yours. Checking for a number of car insurance quotes can help you determine if you’re “paying too much”.
When you’re obtaining car insurance quotes, be sure to check for TOTAL savings. Most insurers give you a discount for insuring your home AND auto with the same company. If you have personal liability insurance too there may be some additional savings. But just saving on car insurance alone may be counter productive if your other rates go up.
Car insurance quotes depend on a variety of factors including deductibles and other coverage limits. If you have a lien on your car, the type of coverage you need may be determined by your lender – not just your potential savings. It’s important to recognize the minimum coverage your lender requires that you carry. Assuming you CAN raise your deductible, it only pays to raise it to a certain point. If raising your deductible from $250 to $500 saves you over $250 per year, that’s a smart move. If raising a deductible from $500 to $1000 doesn’t save you a significant amount, it may not be worth it.
Note: Thanks to AutoInsuranceCenter.com for sponsoring this link.
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