5 Steps to Lowering Your Insurance Rate


Car insurance is something that we all know is important, but hate paying for it month after month. If your budget is bulging at the seams, you may be wondering if there are any tricks to getting a better rate on your car insurance while still having enough protection. Here are 5 things you can to make sure you have the most competitive rate available.

  1.       Review Your Needs – The first things you will need to review when you are planning to look for a better rate on car insurance is your insurance needs. For instance, do you need comprehensive coverage that will pay for costly repairs and see to it that you get another car should yours be stolen or wrecked? This type if coverage is more expensive, so you may want to drop to liability and injury coverage only.
  2.       Drop the Expensive Coverage – One money-saving tip, especially if your car is paid off, is to avoid comprehensive and collision policies unless the yearly premium is 10% or below of the Blue Book value of your car. This will also help you avoid overpaying premiums toward benefits you will never be able to collect.
  3.       Don’t Stop Shopping Around – It may not be the most exciting thing to do, but shopping around for the best prices on Nashville auto insurance can save you a lot of money down the road. In fact, chances are good that you won’t even have to change insurance companies. When you mention to your current broker that there is a better deal available, he or she may just find a way to get your current rates to look more attractive for you.
  4.       Drive Carefully and Spend Carefully – Avoiding speeding tickets, moving violations or accidents by being a careful driver can help to lower the cost of your insurance. Keep an eye on the calendar and make sure that your past tickets or accidents “fall off” of your record when they should. This should cause your rate to drop. It is important to shop carefully as well in order to make sure that a bad credit rating does not cause an unexpected increase in your premiums. Insurance companies often price policies based on just how risky you appear to be, so watch your credit score carefully.
  5.       Don’t Be Afraid to Ask – You may have heard rumors about discounts that are available on insurance, such as lower prices for military members, for cars that have anti-lock brakes, or even for students who maintain a high GPA.  If your agent has not mentioned any of these discounts to you, don’t be afraid to ask about how you could qualify.

While you are in the process of selecting an insurance policy and looking for better rates, be sure that the provider is highly rated. Getting a lower rate on insurance does not pay if, in the end, you find that your inexpensive coverage is sorely lacking. Read customer reviews online to see if others in your area have been satisfied with the company and it’s policies.



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