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Tips for Auto Insurance

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Finding the right policy for you car can be difficult, especially if it’s your first time buying Car insurance Quotes Canada. These auto insurance tips could help you save money.

Increase your Credit Score

Insurance companies in most states use your credit rating as a basis for determining your auto insurance premium. Statistics show that people with poor credit have a greater chance of being involved in an auto accident, leading to higher insurance prices.

Combining more than one policy

If you have more than one driver or vehicle insured by the same provider, you can get a discount on your coverage. Many companies offer a discount for additional businesses. This discount is not only for auto insurance policies. According to Bankrate you can save even more by bundling your renter’s or home insurance with your car insurance. Combining both policies will get you a 25% discount on homeowner’s insurance and a 10% auto discount, according to Allstate.

Safe Driving Saves You Money

Avoiding distractions and dangers while driving can help you avoid serious accidents. It will also lower your auto insurance rates. According to experts, Travelers Insurance offers a safe driver discount up to 23 percent. Your auto insurance premiums will go up if you have any moving violations, such as speeding.

Choose a higher deductible

Investopedia says you can choose a deductible to your auto insurance coverage. It can be anywhere from $250 to $1000. If you have an auto insurance case, the deductible is the amount you pay out-of-pocket. To save money on your premium, increase your deductible if you are able to pay higher initial costs in the event of an accident.

Talk to your agent about how increasing your deductible can impact your insurance premium. If you are able to save minimally, this step may not be worth it.

Install Anti-Theft Systems

By installing an anti-theft device or buying a car with this type of equipment, you can lower your annual auto insurance rate. GEICO, for example, offers a 25% anti-theft discount to its customers.

Eliminate unnecessary coverage

You can review your policy declarations and remove any coverage that you do not need. You can save money on your car insurance by removing these policies (such as roadside assistance and car rental coverage).

Investopedia suggests that you check your coverage periodically to make sure it is still worthwhile to have collision and comprehensive coverage. You can cancel your coverage if the total cost of collision and comprehensive exceeds your vehicle’s worth.

Ask for more discounts

Unadvertised discounts might help you save money on your auto insurance. Ask about how you can save money by joining certain groups, getting online information or paying all of your premium upfront. To get the lowest rate, compare the discounts offered by other insurers. Talk to your agent if you are considering switching to another auto insurance company due to cost. He or she may have suggestions on how to save.

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