Wednesday, February 17, 2010

How to Cut the Cost of Car Insurance?

How to Cut the Cost of Car Insurance?

The present economic condition certainly calls for stringent measures. Daily we face the threat of losing our jobs, a rising cost of living and rising insurance premiums. Aside from purchasing the right car, owners need to put much effort in finding and maintaining low cost car insurance. It is an established fact that there is a steady rise in accident insurance claims over the last decade. This might be due in part to the congestion of our traffic ways and the younger generation's driving style. These conditions behoove us to try to cut insurance cost by as much as is possible.

The most basic step towards reducing cost is finding the best low cost car insurance available. This means shopping around and comparing rates and coverage's. With the advent of the internet, you do not even have to do it on foot anymore, nor do you need to wear away your fingers dialing your phone. There are tools available online which allows you to compare the prices of at least 80 car insurance agents and providers. If you are still in the process of buying a car, be careful to choose the conventional cars with small engines. Buying a luxury or a performance car as this will be expensive to maintain. Both high fuel consumption and high insurance premium are sure to go with it. Premiums increase because insurance is based on value, cost of repair, parts replacement, performance and security. If you do buy a performance or a luxury car, it is best to consult an insurance specialist.







Be sure you know what kind of insurance will be adequate for your needs. Know the kind of insurance mandated by your state first before applying for one. Make sure also that you do not pay for a cover that you do not actually need. Your vehicle might not require comprehensive cover. Low cost car insurance is what you are after and you could even slash premiums further using a third party only or third party fire and theft policy. You can also slash your premiums by agreeing to a higher deductible, this means that you will be paying for small expenses involving minor accidents. Regulating small claims will mean lower premiums. Be sure however that you set it a level that you can comfortably afford.




Other activities that will help you have low cost car insurance are as follows: Keep your customizations at a minimum, do not modify your car. Make sure that the security you have is adequate. If you do not have a garage, be sure to park in a well-lit area. Some insurance companies will be willing to lower their rates or offer discounts if you have an alarm and a tracking device installed. A good past driving record that is accident free or violation free will also help in lowering the value of your insurance. This will indicate that you can properly maintain the safety of you car

How to Cut the Cost of Car Insurance?

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