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Is it possible to save money on your Auto Insurance by switching to a different provider?
Online Insurance Comparison
Many of us use online insurance comparison sites to find and purchase the cheapest policies. However understanding a bit more about how these companies use the information you provide to generate a quote, may help you to find even better deals.
Discounts offered by insurance providers
When the time comes to renew your insurance policy it is always a good idea to shop around, your renewal price with your current insurer is rarely the best deal available. But even when you do approach other companies for a quote can you be sure they are offering you the cheapest possible price? Probably not. It is down to you to make them aware of any circumstances that may help to lower the price and not to simply rely on their good will to sort you out. Insurance companies, like any other business are out to make money, and if that means avoiding asking certain questions that may bring the price down, then why wouldn't they?
You may qualify for a discount if:
Take the time to research insures that acknowledge these discounts as they may well safe you a few quid. Pay particular attention to insurers who offer single accident waivers. In the unfortunate event you do have an accident the insure will not penalize you if it is the first one within a certain period of time. This can save you money and also be quite reassuring.
Have adequate cover, but not too much!
As time goes by circumstances change. You get older and more experienced on the road, and as your car gets older it deteriorates in value. So check your policy is still correct in light of these changes. You may be paying over the odds for your insurance and not even realize it. You do always have the option to scrap all the extras on your policy and just pay for the basic cove.
This is not advisable though. Accidents can be very costly and stressful. This is not the time you want to realize your basic cover is insufficient.
Opt for higher Auto Insurance Deductibles
If your car was stolen and you made a claim for $5000 and your policy deductible was $300, you would have to pay $300 before the insurance company would pay up the remaining $4700. Insurance deductibles are agreed upon when you take out the policy with an insurer. The higher deductibles you agree to pay the less of a risk you are to the insurance company, hence the lower premium. Do be cautious though. Remember, if you did file a claim you would have to find the money too pay the deductible. Never agree to a fee you would struggle to afford.
Sticking with the same insurer year after year will cost you in the long run. Insurance providers are not big on loyalty! To find the most competitive quotes take a look at the many car insurance comparison sites online. Here you will find the best deals currently available. But don't be fooled into simply going with the cheapest, compare several providers on price, quality and coverage. It is all about getting the best possible value for money.
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