TUESDAY, DECEMBER 6, 2011
The cost of owning a vehicle continues to go up each year. With gas prices at an all time high, and maintenance costs also at a record level, keeping your vehicle on the road is not as easy as once was the case. One area in which there is still some room to save money is auto insurance. By shopping around and understanding how insurers calculate quotes, there is the possibility of making substantial savings.
 1. Periodically check for lower rates
To start with, you should understand that just because you got a good deal last year does not automatically mean that the same insurer is still the cheapest option today. If the time has come to renew your policy, it is certainly worth checking out what types of deals are available from a number of different firms. Do not just focus your search on the most well known companies, lesser known insurers can often provide attractive quotes.
2. Consider online only insurance companies
When searching for a low cost policy, you may discover that those firms that operate solely online are able to give a better deal than firms that maintain a string of offices across the country. The primary reason behind this difference in cost is that an online insurer would have lower overheads than a firm with a physical presence, and can therefore pass on savings to customers. The downside of using a company based solely in the online realm is that the service which is given may not be so personalized.
3. Add features that lower your risk
It is possible to bring down the cost of your next policy by taking steps to ensure your vehicle is as secure as possible at all times. This relates to both when in use and when parked. If you were to install the latest security features, such as a GPS tracker or an engine immobilizer, the chance of the vehicle being stolen would greatly decrease. This would lower the risk to the insurance company which would help lower your rate.
4. Find the companies that cater to your situation
If you have only recently acquired your drivers permit, being offered a low cost quote may seem more of a challenge than passing your test. In such a situation, it is important to find an insurer who will not discriminate against your lack of experience. By doing some research you can choose a firm that will be happy to provide you with the legally required coverage, and for an affordable price.
5. Save by paying your policy in full
It is normally cheaper to pay your premium upfront for a yearly policy than to request to make payments on a monthly basis. If you have the funds, this is another option that can save you money in the long run.
Let us shop for you! As an Independent Insurance Agency we represent some of the top insurance companies and can compare rates and coverages with each of these companies to ensure you get the best value on your car insurance. Or get a free instant Louisville auto insurance quote right now. In less than 5 minutes, you can compare rates from multiple auto insurance carriers and choose the best policy with the right coverages to meet your needs.
By Matt Reynolds - Google+
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