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The
Cheapest Auto Insurance
Companies
Getting incredibly low auto insurance
rates is a two part process. Half the process is taking advantage of
every conceivable discount offered by the insurance companies, and the
other half is online comparison shopping to see which car insurance
company is currently offering the lowest rates. We provide you with a
long list of all the discounts that you might be entitled to, as well as
info on the companies that are offering the rock-bottom, lowest rates.
If you will combine both of those
elements, you'll be able to save hundreds of dollars per year on your
auto insurance premiums. We know of several people who have followed the
steps outlined here and have reduced their annual auto insurance cost to
under $100. While that rate might not be available to everyone
(especially young drivers), it does illustrate how much room there is
for savings.
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The Companies Offering The Lowest Rates
Some of the companies offering the lowest rates are
names that you have heard of. However, there is an
entire second tier of less well known, smaller companies that are eager
to grow. This eagerness leads them to compete fiercely for new business.
Most times quotes from these smaller companies will be substantially
less than quotes from the major discount auto insurance companies. These
are companies that are not well know by the general public. The only way
to find out how low their rates are is to request a quote.
Take Advantage Of Every Discount They
Offer
There are many different discounts available that you
will need to take advantage of in order to get the lowest price
available. The problem is most of them don’t care to tell you what those
discounts are so it’s up to you to find out. For example, let’s say you
going to insure two vehicles. Many firms offer a minimum of 10% discount
for multiple vehicles and it may be even more, you'll need to ask.
The form that you fill out in order to receive a quote will ask quite a
few questions. They are going to ask about your driving record. If you
have a perfect driving record in the past 3 years, you'll get a
discount. A perfect record for the past five years will earn you a
bigger discount. Make sure you list that on the form. The kind of car
you own and drive is important as well. A sporty Ford Mustang with a
beefy engine will raise your rates, while a safer, 4-door midsize
vehicle with an economical 4 cylinder engine will earn you a decent
discount. Where you dwell will also effect your rates. There are far
more accidents in the cities because of the congestion and the tendency
of drivers to get frustrated. By living in a rural area, you'll earn
another discount. How often you use your vehicle is a large contributing
factor to the rate you will pay. If you can take mass transit or some
form of public transportation to and from work, this will reduce your
auto insurance cost even further.
When you do most of your driving is also another
factor in determining how much you'll have to pay for insurance. If you
put in a lot of time and miles during rush hour to and from work, this
will substantially increase your chances of an accident and likewise
cause your rates to be higher. If you can carpool with a co-worker and
avoid driving during the morning and evening rush hour, you'll save
money. Additionally, how old you are will contribute to you rate.
Obviously, you cannot change your age. But if you are 21, a nice way to
reduce your rate is to have a parent co-register the car. With a parent
as a primary driver, you can be listed as a secondary driver and save on
the costs by doing so.
It is not a secret that sometimes while smoking hot
ashes will fall off a lit cigarette into the lap of a smoker. If this
happens while driving, it is a major distraction that can and does lead
to car accidents. Non-smokers will get a good discount as a result.
Insurance companies like to depend on you to pay on time just as you
depend on them to pay in the event of an accident. Neither party wants
to deal with the other if there is a question that maybe the payment
will not happen. Therefore, if you are reliable and have a good credit
score, you'll be entitled to a discount. Insurance companies never used
to consider the credit score of an individual in calculating rates, but
nowadays it is commonplace. The more they know about you, the more
credible risk you are, the less you will pay. If you haven't missed any
days at work due to illness in the past 3 years, just like a good credit
score, this is a sign you are a very reliable/responsible individual.
This will earn you a good discount. Your school records as well,
provided they are very good, will earn you a discount. Another often
overlooked factor is occupation. People in some professions are
naturally deemed more responsible. These include firemen, nurses, and
teachers. If you are in a profession that is favored by insurance
companies, this will get you a sizeable discount as well.
Finally, the size of your policy limits as well as the
deductible will contribute in a very large way to how much or how little
you'll pay in annual premiums. For the lowest rate available, purchase
the smallest amount of coverage required by law and have a large
deductible. The higher the deductible the less you'll pay. A deductible
of $500, $1,000, $2,500, or even $5,000 will really lower your rates
significantly. Use all of these methods together will combine to reduce
your annual auto insurance costs to a mere fraction of what you are
currently paying.
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