Economy Auto Insurance

economy auto insurance We all want cheaper auto insurance so we can lower our household budget, but most people are confused how to get it. Most people know that an easy way to find economy auto insurance is to go online, but they often do not know what coverage to get or what companies are trustworthy. If you do your homework and some basic research, getting your automobile covered at great rates is fairly. Here are some common sense tips that will help you get better coverage and save money.

  1. Don’t sacrifice good Coverage just for Lower Rates

So many people make the mistake of just narrowly looking at which providers have the cheapest quotes. While price is a very important component, in particular for those on a super tight budget, you should first build the type of policy that protects you properly. After all, insurance is designed to cover you in times of trouble. If like a lot of people “Murphy’s Law” seems to follow you wherever you go, big problem can happen at any time. Build a policy plan around the coverage you need first and then you can shop for the lowest priced carriers later.

  1. Combine your Auto and Home Policies

If you have a home, renters, or multiple automobile policies, you can qualify for bundled rates with many insurers. Most of the time you can save 10% or more and consolidate your bills into one easy payment. This is an excellent way to cover most of your insurance needs with one insurer. Compare bundled quotes from top providers today.

  1. Go to a higher Deductible and Bank the Savings

Most people do not realize that ins providers make most of their profits on the capital gains from investing their policyholders premiums. It is no secret Warren Buffest is one of the richest men on the planet. and through Berkshire Hathaway, controls the second largest automobile insurer in the world – GEICO. Mr. Buffet carefully puts the premiums consumers pay into investments. During good economic times, insurers may make 8% or more annually off of insurance consumers premiums.

Get smart and raise your vehicle deductibles to $1,000 or higher. Take the savings and invest the money wisely yourself. Think about it for a minute, would you rather get 8% of more of your money or give it away to large ins corporation and make them rich?  This is one of the best tips to reduce your costs by 10% or more. Always set aside the deductible amount in case you do get into an accident and file an auto claim.

  1. Buy the right type of car and Save Big

Getting economy car insurance is mostly common sense. To get cheaper rates, you need to drive a car that insurers love. Most rating sites like Consumers Reports and others give lists of cars that are the most inexpensive to insure. Cars like the Subaru Forester is on nearly every list and for the soccer moms out there, check out the Honda Odyssey van. This quality vehicle has amazing safety features, is fun to drive, gets good gas mileage and is surprisingly cheap to insure.

As you might suspect, stay away from expensive sports cars like a V8 Mustang if you want to lower your insurance costs. If you do get an expensive luxury or sports car, keep the mileage down so you can get rate discounts.     

  1. Get all the Discounts you can

Are you a great student, teacher or military vet. If you are, you can qualify for some excellent discounts. Some auto insurers like USAA auto insurance not only have discounted rates for active military service members but extend these special rates to family and relatives. Other companies like Horace Mann have leveraged their purchasing power to get teachers great deals on car ins. Sometimes not all discounts that are currently available are listed online, so call a company representative before you buy a policy and see if there are any hidden specials you can take advantage of.

  1. Maintain a good Driving Record 

There are so many sad stories out there of people who had a great driving history, then one night drove while intoxicated and had their policy canceled or raised 200%. There are some things you should never do behind the wheel once, and one of those is drinking alcohol and driving. Carriers regularly check drivers records through the DMV database and the more points and violations you have, the higher you premiums will go. Stay safe and get cheaper insurance by following all the traffic laws. If you do get a ticket, get it cleared up by going to traffic school.

  1. Comparison Shop Online for the Great Deals

Before you drive down to your local insurance broker or pick up the phone and call an agent, start shopping online. The low cost of marketing online has allowed insurers to offer special prices that could save you lots. Make sure you compare rates with A rated companies and review at the minimum five quotes before buying.

Shop for economy auto insurance with good to go insurance on-line. We can get you covered at incredible rates that will save you hundreds yearly. Get started on your free, no-obligation quote and save big.