Friday, August 25, 2006

Trim Your Auto Insurance Bill

Got a heavy auto insurance bill? If you can’t change your ZIP code or build a garage for your card, you may find the following tips helpful in reducing your car insurance premiums, according to Kiplinger’s.

  • It pays to shop around. I believe this is the rule-of-thumb not just for insurance, but for almost everything you shop. However, I will only use online quote as a screener to get an idea of the price range I may be. Give the insurer a call for a second quote will give you the exact number.
  • Buy a safe, reliable car. Yes, the maker and model of your car also have huge impact on your insurance bill. If you buy a low safety rating vehicle that costs a lot to repair, you will see it in your insurance bill. Also, try not to buy those models that are attractive to thefts.
  • Set a higher deductible. Don’t settle with $250 or $500 deductibles if you really want to save. I always select $1000 deductibles and found this could be the single most effective ways to cut my insurance bill. Get quotes for $250, $500, and $1000 deductibles and you will see the difference when other selections remain the same. And with higher deductible, you may drive more carefully.
  • Buy home and car insurances from one insurer. This way you can enjoy discounts for multiple policies.

Of course, you don't need a comprehensive coverage if your car is only worth several thousands of dollars.

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