Monday, April 3, 2017

4 Secrets to Securing the Best Auto Insurance Rates

Auto insurance is a fact of life for anyone who drives a car. Just about every state requires a minimum amount of insurance for those who get behind the wheel. 

Though auto insurance isn't that expensive for most people, you still want to do everything you can to pay as little as possible. Here are four secrets to securing the best auto insurance rates.

Shop Around

You may think that all insurance companies are the same, and that you will get the same rate from each one, but that usually isn't the case. 

Insurers have different underwriting standards, so that speeding ticket you got three years ago may figure prominently in one insurer's decision and not at all in another's. 

You can do the work yourself by going online or making calls to get quotes, or you can work with an independent insurance broker who can run your info by dozens of insurance companies to get you the best deal.

Don't Pay for More Insurance Than Needed

Many people pay for full auto insurance coverage because their agent encourages them to. Others may start out with full coverage on a new car and keep it through the years even though their car isn't worth much anymore. 

Paying only for what you need can save you money on auto insurance. The law requires you to have liability insurance, and if you have an old car that isn't worth much, that's probably all you need.

Raise Your Deductible

The deductible is what you pay out of pocket on a claim before your insurance kicks in, and the higher it is, the less your insurer has to pay out. 

Professionals, like those at Metropolitan Insurance Service Consultants, know that this lowers the insurer's risk and makes your insurance premiums lower. Just don't raise your deductible so high that you would have trouble paying it if you file a claim.

Don't File Small Claims

If you have a $500 deductible on your insurance policy and you have $600 in damage to your car, it is better to just eat that extra $100 and pay to fix the car without filing a claim. 

Filing lots of small claims will end up costing you more money in the long run in the form of higher premiums.

These tips won't guarantee your car insurance premiums are lower, but they will increase the chance. 

When looking for car insurance, make sure you educate yourself on the process and learn all the ways you can reduce your premium costs.

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