Saving on American Auto Insurance Rates
The cost of American auto insurance policies varies not only from insurance company to insurance company but also from policy to policy within the same company, so it pays to do a little research and to understand the how the insurance industry works before buying auto insurance. You can get a lot of answers to your questions by contacting insurance companies directly by phone or online. You can also get information about different American auto insurance providers from your State Insurance Department.
In the United States, as in other countries, auto insurance is designed to protect drivers from loss and financial liability in case of an accident or theft of a vehicle. One of the first considerations when comparing auto insurance providers is the company's financial stability. There are several ratings companies that provide information on the financial strength of insurance companies, including companies such as A.M. Best and Standard & Poor's. Consumer magazines that are focused on cars and trucks may also have information about insurance provider assets and financial strength.
Insurance companies in America may market their policies directly to the customer online or over the phone. Some even have branches scattered throughout the United States with employees or agents that represent them exclusively. There are also independent agents that act as brokers for several insurance companies and can give you comparison information for each provider.
When comparing different companies, the price is only one factor to be considered. You will want to work with a company that provides good service, has a good record of satisfying claims. One of the best ways to find responsive companies is to ask for recommendations from your friends and associates, as well as checking with your state insurance department. You will want to find out what their experience has been with different companies and whether they have complaints about specific insurance companies.
There are several ways to reduce the cost of American auto insurance. One of the most common ways is by accepting higher deductibles. Deductibles are the amount of money you have to pay out of your own pocket before the insurance policy kicks in. Compare the cost of the policy with different deductibles to see how much you can save. If you end up choosing a high deductible make sure you set aside enough money to cover it if you are in an accident.
Another way to save on car insurance is by dropping collision and comprehensive coverage on older vehicles that are paid off. A good rule of thumb is that if the vehicle is worth less than 10 times the premium you should consider dropping full coverage and switch to a more limited policy.
If you already have some other type of insurance you may want to check with that provider to find out if you can get any kind of discount for also getting your auto insurance through them. This may not always be the best deal but it is something you should check out.
In addition to the vehicle and your driving record, insurance companies may also consider your credit history when setting your premiums. If you have a poor credit history you will usually end up paying more for your insurance. You can improve your scores by paying off any overdue accounts, making all payments on time and correcting any mistakes on your record that may be lowering your credit scores.
Some employers and associations may have access to group insurance programs that may provide a savings for you. Check with any groups you are a member of to see if they have a program available.
Other discounts you may be able to find include: discounts to drivers that have not had any recent accidents or moving violations, participants in defensive driving courses, good student discounts for driving age children or children who are away from home at college without a car.
In the United States, as in other countries, auto insurance is designed to protect drivers from loss and financial liability in case of an accident or theft of a vehicle. One of the first considerations when comparing auto insurance providers is the company's financial stability. There are several ratings companies that provide information on the financial strength of insurance companies, including companies such as A.M. Best and Standard & Poor's. Consumer magazines that are focused on cars and trucks may also have information about insurance provider assets and financial strength.
Insurance companies in America may market their policies directly to the customer online or over the phone. Some even have branches scattered throughout the United States with employees or agents that represent them exclusively. There are also independent agents that act as brokers for several insurance companies and can give you comparison information for each provider.
When comparing different companies, the price is only one factor to be considered. You will want to work with a company that provides good service, has a good record of satisfying claims. One of the best ways to find responsive companies is to ask for recommendations from your friends and associates, as well as checking with your state insurance department. You will want to find out what their experience has been with different companies and whether they have complaints about specific insurance companies.
There are several ways to reduce the cost of American auto insurance. One of the most common ways is by accepting higher deductibles. Deductibles are the amount of money you have to pay out of your own pocket before the insurance policy kicks in. Compare the cost of the policy with different deductibles to see how much you can save. If you end up choosing a high deductible make sure you set aside enough money to cover it if you are in an accident.
Another way to save on car insurance is by dropping collision and comprehensive coverage on older vehicles that are paid off. A good rule of thumb is that if the vehicle is worth less than 10 times the premium you should consider dropping full coverage and switch to a more limited policy.
If you already have some other type of insurance you may want to check with that provider to find out if you can get any kind of discount for also getting your auto insurance through them. This may not always be the best deal but it is something you should check out.
In addition to the vehicle and your driving record, insurance companies may also consider your credit history when setting your premiums. If you have a poor credit history you will usually end up paying more for your insurance. You can improve your scores by paying off any overdue accounts, making all payments on time and correcting any mistakes on your record that may be lowering your credit scores.
Some employers and associations may have access to group insurance programs that may provide a savings for you. Check with any groups you are a member of to see if they have a program available.
Other discounts you may be able to find include: discounts to drivers that have not had any recent accidents or moving violations, participants in defensive driving courses, good student discounts for driving age children or children who are away from home at college without a car.
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Do you want additional insurance information? The American Auto Insurance blog has helpful resources that will help you make educated insurance comparisons and get the best coverage for the lowest price.
posted by Credit Counseling at
8:41 AM
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