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How to compare car insurance

Consider the minimums for your state and how much you can compromise if ever held liable. Since property damage and health care are undeniably costly, it’s a good idea to protect yourself and others. Experts recommend more than the state minimum requirements for a standard policy, with limits of 100/300/50. If you have a car loan, you’ll most likely need full coverage- comprehensive and collision to protect the bank’s interest in your vehicle.

Most states have (BI) Bodily Injury and (PD) Property Damage requirements- usually written as follows: 25/50/100. The first number (25,000) represents the amount required for Bodily Injury for 1 person in an accident. The second number (50,000) is the minimum total BI required for all persons in an accident. The third (100,000) is the minimum Property Damage requirement. Familiarize yourself with the major types of auto insurance. Some states have additional coverage options and even allow stacking policies.

Determine your needs and compare the bottom line. But, like shopping for anything else, go with a reputable company that has good customer service and you’re comfortable with.

How to compare car insurance

Consider the minimums for your state and how much you can compromise if ever held liable. Since property damage and health care are undeniably costly, it’s a good idea to protect yourself and others. Experts recommend more than the state minimum requirements for a standard policy, with limits of 100/300/50. If you have a car loan, you’ll most likely need full coverage- comprehensive and collision to protect the bank’s interest in your vehicle.

Most states have (BI) Bodily Injury and (PD) Property Damage requirements- usually written as follows: 25/50/100. The first number (25,000) represents the amount required for Bodily Injury for 1 person in an accident. The second number (50,000) is the minimum total BI required for all persons in an accident. The third (100,000) is the minimum Property Damage requirement. Familiarize yourself with the major types of auto insurance. Some states have additional coverage options and even allow stacking policies.

Determine your needs and compare the bottom line. But, like shopping for anything else, go with a reputable company that has good customer service and you’re comfortable with.

5 factors that may be raising your car insurance rates

If you think you’re paying too much for auto insurance each month, it may be time to find where those hidden costs are sneaking in:

Your DMV abstract and credit report tells insurers on a personal note whether your high risk. Errors, omissions or anything that can be repaired can drive up your rates.
The car you drive can be an equally important factor in the algorithm that determines your rates. Some things to consider are a car’s safety rating, theft rates and repair costs.
Your policy may need to be re-evaluated for coverage, vehicles, drivers or other factors. If you’re still in the high end, ask your car insurer the reason. Find an auto insurance company match- one that sees your premium blueprint less risky. Prices can often fluctuate significantly between car insurers.
It may not be always the case that you’re receiving discounts automatically. When getting quotes from multiple companies, make sure all available discounts are considered in the premium price.

How to Get Cheaper Rates on Car Insurance

How To GET CHEAPER RATES ON CAR INSURANCE

Clean up your credit

All states but California, Hawaii, Michigan and Massachusetts allow car insurers to look at your credit. Improving it can lower your rates and save a nice chunk over the long haul. If you’ve had any financial setbacks, try your insurer to see how they handle major events like divorce or job loss. They’re more likely to be forgiving Thanks to the National Conference of Insurance Legislatures model law.

Brush up on your driving skills

Stay in the know with the driver point reduction program in your state– which may automatically reduce points with good driving over time. Taking a defensive driving course, can also lower rates by 10% for three years and reduce up to 4 points on your license. Some state courts allow dismissal of traffic violations or point reduction upon completion; some even require it or lessen the violation or fines. Ultimately, it’s up to the insurer if any point reduction will help your rates once the violation is on record.

Do your homework

If you’re in the market for a new car, you’ll need comprehensive and collision. Vehicle comparison tools are a great way to factor lower costs down the road. Besides lower theft rates, some cars are cheaper to insure based on higher safety and reliability scores.

Comparison Shop

Shop around. Comparing several car insurance quotes is one of the best strategies to immediately lower your premium. The difference in rates can vary significantly since every company uses their own algorithm.

Auto Insurance Discounts Based On Age

How old you are is an important factor car insurance companies use to determine your rates. Typically, seasoned drivers pay the least, while teen and senior drivers, the most. Here’s some car insurance discounts and tips to use and enjoy family savings that’ll have you planning your next road trip.

Another reason to get good grades, the good student discount rewards students with averages B or higher. Since first time young drivers won’t have a driver’s abstract or credit report, the good student discount is the best way students can save up to 25% on their premium. In Georgia, the discount is state mandated. Young drivers can also get discounts for Fraternity or Sorority memberships, volunteering or for certain professions in Government, Paramedics, Nursing, Police, and Military. It’s different for every insurer, so you may have to dig to find breaks worth stopping for. If you’re an out of state college student and use your car only when you return home, you may already be receiving a low mileage or distant student discount. But make sure it’s being applied for a nice-sized savings.

Typically, the good student discount requires attendance of college of at least 100 miles away. Some car insurance companies will also credit young drivers for completing classes required for driver licenses or taking a DMV approved drivers ed course, as much as 10-15% off your bill. It’s mandated in South Carolina and Georgia.

Based on age alone, middle-aged drivers have honed their driving skills, and pay the least amount in car insurance premiums. Midlife achievers can enjoy on the spot savings by taking inventory of the most common overlooked discounts: New Home, New Car, Affinity, Professional, Fraternity/Sorority Memberships, Employee/Job Stability Discounts, Multi-Car, Multi-Policy and Loyalty Discounts. 39 states offer a two- or three-year state mandated senior auto insurance discount to drivers who take a DMV approved driving course. Some states require that the driver be free of violations and accidents for the period before or after the reduction. Many insurers automatically apply the discount to drivers who maintain a clean license for 3 years. The mature driver discount aka senior discount course can be taken by seniors as young as 50 and by all drivers in some states.

Seniors more than any other age group are more inclined to follow the rules of the road. They value what they have, maintain and equip their cars with the latest safety features– offering them some of the best traditional discounts: Good Driver, Anti-theft, New Car, Reliable Car and Safety Features and Mature Driver Discount. There’s also loyalty, paying in full, and other traditional discounts seniors can take advantage of. Being retired has perks of its own. Car insurers often offer discounts to retirees– some better than others for certain professions. Seniors can also get discounts for a member of an alumni or auto club. Retired seniors may drive less. The low mileage discount can often get lost between retirement and renewal.

Whether you’re a newbie or seasoned driver, stacking discounts can get cheaper rates on car insurance. But being a safe driver is #1. Keeping a clean record, good credit scores, and continuous car insurance coverage, are good rules to follow on the road–to keep your car insurance rates down at any age.