Five Easy Ways to Lower Auto Insurance Premiums

DENVER, March 26 /PRNewswire/ -- In this tough economy, NetQuote.com (http://www.netquote.com/) the Web's top site for comparison insurance shopping, offers tips for saving on one of the biggest non-discretionary expenses for most households: insurance. "Everyone is looking for ways to take control of their finances," said Paul Ford, insurance industry veteran and NetQuote CEO. "Shopping around for insurance is one way to save while keeping critical coverage - and most people don't realize they can switch their policy at any time." More than 39 million homeowners have made changes to their insurance coverage because of the troubled economy, according to a recent survey conducted for the Independent Insurance Agents & Brokers of America. But research shows shopping around can help people save money while staying covered. If you're shopping for insurance online, Ford offers, look for a site that's objective and that connects you with major carriers that will compete to give you the best deal. "Insurance is designed to protect you in the worst of times. Before slashing coverage to save money, consider shopping around for significant savings--often $500 or more--without sacrificing the coverage you need." Five ways to save on home insurance without sacrificing the coverage you need: Shop around -- It's never been easier to compare policies, especially when you can get quotes from online aggregators like NetQuote.com. Log on to get several quotes for discount homeowners insurance and compare them side-by-side. Keep looking until you find one that offers the most attractive combination of coverage and premium. Raise your deductible -- Raising your deductible can save you big, sometimes as much as 25 percent. Raising the deductible from $250 to $1,000 can save you hundreds of dollars a year, but make sure you have the ability to pay $1,000 in the event of a claim. Save with a bundle -- If you have other types of insurance (e.g. auto, life, boat, etc.) through another insurance company, give them an opportunity to look at your home insurance. Multiple-policy discounts are one of the best and easiest ways to save money. Additions add up -- Additions to your home that will protect it from loss (e.g. hurricane shutters, security systems, upgrades in piping and electrical systems) can offer valuable savings on your insurance. Ask your insurance company what discounts are available for your home improvements. Consider actual cash value coverage -- Actual cash value coverage reimburses you for the cost of the property minus your deductible and the property's depreciation. Replacement cost coverage reimburses the full value of the property. If your objective is to have the lowest insurance premiums possible, consider actual cash value. Five easy ways to lower auto insurance premiums: Take a defensive driving course -- In some areas, this course can save you as much as 10 percent off your auto insurance premium. Look for discounts through groups -- See if you qualify for discounts from groups or associations that you are a member of. Find out if you're paying too much -- A recent Consumer Reports survey found that some drivers were paying twice as much for an auto insurance policy than they would have with another insurer. It pays to shop around, and online aggregators like NetQuote.com make it easy. Raise your deductibles -- Try raising your deductible to as high as you can afford out-of-pocket in the event of an accident. Higher deductibles can lower your premium, sometimes significantly. Bundle -- Consider purchasing auto insurance from the same company that provides your homeowners insurance, if possible. Many companies offer multi-policy discounts. For more information on NetQuote, please visit www.NetQuote.com (http://www.netquote.com/).

This article was published on Wednesday 08 April, 2009.

Current Reviews: 0

Tell a friend Tell a friend about this article:

The articles on the Tri-City Transmission web site are not intended to replace the advice of a qualified mechanic. Tri-City Transmission is not responsible for any damages related to the use of this information.