Everyone likes to save money and your automobile insurance is a great place to find savings. You’re most likely required by state law to carry auto insurance on any car you own and auto insurance costs can vary widely. Here are eight tips to help you start saving money with your automobile insurance. 1. Compare auto insurance quotes – this advice might sound simple, but it is the best way to find the best possible auto insurance rate. Get at least auto insurance quotes to compare and make certain you are comparing similar policies. 2. One way to buy less expensive auto insurance is to ask for a high deductible. You will be out a much larger out-of-pocket expense in the event your auto insurance policy is used to cover a claim, but your premium will be substantially lower. If you take your deductible up to $1000, you can expect savings of 40 percent, or more. 3. If your car is older consider reducing the coverage of your automobile insurance. Two types of coverage to think about are collision and comprehensive auto insurance. A good rule of thumb is to drop unnecessary coverage for any car worth less than 10 times the cost of coverage. In the event you make a claim for an older car, the amount you receive might be less than your auto insurance premiums. 4. Your car has a major impact on the cost of your auto insurance. For example, a sports car is going to be much more expensive to insure than a family sedan. When you are buying a car, take the automobile insurance costs into account. Safety features like air bags, car alarms and anti-lock brakes can all help reduce the cost of auto insurance. Other factors that affect your auto insurance premiums include the sticker price of the car, its safety rating, how much it costs to repair and how likely the car is to be stolen. 5. This tip really shows how shopping around and comparing auto insurance can pay off – if you don’t drive very much you might want to find an automobile insurance company that offers a low-mileage discount. 6. Another way to get a lower auto insurance premium is to buy your auto insurance from the same company where you carry other types of insurance, such as home insurance. 7. Save money by being a good citizen. Really. Keeping a good credit rating and a good driving record can reduce your auto insurance costs. 8. Find out if you are able to buy auto insurance with a group plan at your work or through a group like a professional association. Group plans can offer very large discounts on most types of insurance, including auto insurance.
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Money Saving Auto Insurance Tips
December 18th, 2009Where to Get Cheap Auto Insurance in Maryland
December 9th, 2009Maryland is one of the most expensive states when it comes to auto insurance premiums, with average premiums between $2,700 and $3,000. Here’s how to lower your premium and get cheap auto insurance in Maryland.
Get All the Discounts You Can
Discounts lower your insurance premium, saving you money. Common auto insurance discounts include:
* Multi-Policy Discount – for having your home and your car insurance with the same insurance company.
* Multi-Vehicle Discount – for having two or more cars insured with the same insurance company.
* Good Driver Discount – for being accident free for at least three years.
* Good Student Discount – for maintaining a high grade average in school.
* Driving School Discount – for having taken a drivers education class.
* Low Mileage Discount – for driving less miles than the national average.
* Safety Features Discount – for having safety features like air bags and anti-lock brakes on your car.
* Anti-Theft Devices Discount – for having a burglar alarm or other anti-theft device on your car.
* Senior Citizens Discount – for being age 50 or older and retired.
Ask your insurance professional about these and other discounts you might qualify for.
Lower Your Coverages and Increase Your Deductibles
Maryland law requires that you have at least the following liability coverages:
* $20,000 per person for bodily injury. This is the maximum the insurance company will pay any one person injuries you cause.
* $40,000 per accident for bodily injury. This is the maximum the insurance company will pay – total – for injuries you cause.
* $15,000 per accident for property. This is the maximum the insurance company will pay for damage you cause to someone else’s car or property.
Your premium will be lowest if you buy just these minimum coverages, but you may not have enough protection in case of an accident.
You can also buy collision and comprehensive coverage to pay for physical damage to your car. If you buy this coverage, set your deductibles as high as you can afford – the higher your deductibles, the lower your premium.
Shop Around
Insurance premiums vary from one insurance company to another, so you need to shop around and compare quotes. You can easily compare quotes by going to an insurance comparison website. On such a website you simply type in your insurance information. Shortly thereafter you’ll begin to receive quotes from multiple A-rated insurance companies.
On the best insurance comparison websites you can even talk with insurance professionals and get answers to your car insurance questions (see link below).
Visit http://www.LowerRateQuotes.com or click on the following link to get Maryland auto insurance rate quotes from top-rated companies and see how much you can save. You can get more auto insurance tips in their Articles section.
By: ryan@thesatellitetvguide.com
