Global Courant
Auto insurance can be so expensive. However, there are ways you can save on these costs. One way is by rewriting your policy. When doing this, here are some things to keep in mind.
Increase your deductible
Your deductible is the amount you pay out of pocket before your insurance company begins paying off a claim you’ve made. The main way you can save money on car insurance is by increasing your deductible. This even reduces your car insurance premium (the amount you pay for your car insurance) by as much as 40%.
Eliminate collision coverage
Collision cover is the amount you receive to repair your car if you have an accident. Another way to lower the cost of your car insurance is to eliminate the collision portion of your policy. This is something you’ll especially want to consider if you’re driving an old car because there’s no point in paying insurance to replace this vehicle. However, if you have a classic car that has a lot of sentimental value attached to it, you may want to increase the amount of coverage you have in this area. So, as you can clearly see, you will have to weigh the extra cost against the potential benefit you will receive if you actually have an accident.
Have good credit
While you may not even think it’s important, you really need to keep your credit. This plays a very big part in how much money you pay for your car insurance. If you have a high credit score, you may find that you may qualify for a lower rate on your auto insurance policy. This is because the insurance company will use a risk score, which is based on your credit history, which will determine how much of a risk you are in making a claim.
Finally
Be sure to ask what all your options are when you talk to your insurance agent. Many of them may not tell you all of your options unless you ask. Make an appointment and take a moment to find out about the insurance you are paying for, what it covers, etc.
Rewrite your auto insurance policy to save money
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