Saving money on your car insurance premiums is one way that you can save money in this tough economy. But how do you cut your costs and make sure you still receive the coverage that you want and need? Here are some basic things you can do to reduce your car insurance premiums and put more money back in your pocket each year.
Ask about Discounts
There are many discounts that you can ask your car insurance agent about that you might qualify for. Did you know that drivers who use their vehicle sparingly throughout the year can bet a major discount on their premiums? If you only drive a couple thousand miles each year, you can often get your car insurance premiums reduced. You can also get a discount if you have anti-theft devices installed on your vehicle and if you have taken a defensive driving course. Ask your agent about discounts that you might qualify for – you might be surprised how much you can save.
Cleaning Up Your Credit
More and more auto insurance companies are looking at a person’s credit when they are making a decision on premium prices. If you have a respectable credit score, you are more likely to get a better rate on your premiums than if you have bad credit. Companies consider a person with bad credit to be less responsible with money than those with good credit and, as a result, more likely to file a claim. If you have cleaned up your credit recently, have your agent evaluate your policy to see if you qualify for a lower rate.
Raise Your Deductible
Do you have a low deductible on your car insurance San Francisco CA premiums? If so, you could be paying more each month than what is necessary. Many people like to have a low deductible in case of an accident so they don’t have a large out of pocket expense. But you are paying more each month if that’s what you are doing. Instead, increase your deductible and put the money you would have paid on those higher premiums in an interest-bearing account. You’ll come out ahead financially and you’ll only have to spend the money if you are actually involved in an accident.
Saving money on your car insurance San Francisco CA costs is essential for being financial responsible. Look for discounts and you’ll be surprised how much you can actually save!
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