Your Cash World - Your Cash World

You Can Trim Your Car Insurance Costs

Car insurance costs continue to rise all over thanks to inflation and losses sustained through natural disasters such as Hurricanes Katrina and Rita. Fortunately, there are ways for consumers to trim their costs some options which are not readily obvious. If losing a high car insurance bill is your desire, then read on for some tips on how you can save ten percent or more on your car insurance bill.

Check Your Address - Could it be that your insurance company has you residing at the wrong address? Not just the wrong street, but at the wrong zip code? The wrong street address or zip code could bump you into a different area where insurance rates are higher.

Check Your Coverage - An older car certainly doesn't need collision insurance. Instead, drop the coverage and bank the difference. The extra funds could be used for maintenance or towards the purchase of another car down the road. Rule of thumb: If your car is paid off and it is worth less than $3000 then perhaps you should consider dropping collision coverage. You may be able to get rid of your comprehensive coverage too!

Check Your Deductible - Maybe a $200 deductible is too low anyway. Instead, consider raising your deductibles to $500 or $1000 to save money on your insurance premiums.

Drop Drivers - Perhaps it is time for a son or daughter to get insurance on their own. In many states you have to drop them off of your policy at a certain age such as at 26. Or, you child's poor driving record could weigh down your own policy. They have to learn to take responsibility for their own actions at some point, right?

Bundle Your Car Insurance - If you have homeowners with one company and car insurance with another company consider bundling your services to just one company. Usually, insurance companies will give to you a 10% discount for bundled coverage. Also: look for safe driving discounts and loyalty discounts for insuring with a company for one year or longer.

Beyond all of that, consider getting an estimate on insurance before buying that new car. It could be that the insurance on a certain model is 20% higher then a comparable car. Also, switch companies if your savings can total 15% or more.

With a little effort you can easily save ten, twenty even thirty percent or more on your car insurance. Car insurance can be costly, but you can control costs by following the six tips as outlined herein.