This is one of the most commonly asked questions that everyone wants answered. How can I lower my insurance premiums? Insurance companies have many factors for calculating insurance, and they all weigh these factors differently. These factors include type of car, driving history, and age of driver. They don’t let it known how heavily each factor is weighed, and some of these factors you cannot control. There are certain things that you can do that can help you lower your auto insurance rates.

  1. Driver’s Education
  2. The first thing that every driver can do to reduce their rate is to take a certified driver’s training course. This course usually consists of classroom sessions followed by in car sessions. The classroom session is usually a total of 40 hours, and the in car session being 12 hours. In order to pass the course, you must pass both the in-class exam and the road exam. Upon completion of the course you will be given a certificate that you will have to provide for the insurance companies. Driver’s training will lower your rates by about $300, so it basically pays for itself at the end of one year. This is especially important for young drivers who already have to deal with sky-high insurance rates.

  3. Increase Your Deductibles
  4. If you have collision or comprehensive coverage, then you also have a deductible. A deductible is a fee you must pay when you make a claim before insurance will cover your damages. It is present to help try and prevent fraudulent claims. When you set up your policy you can select your deductible amount and common amounts include $250, $500, and $1000. When you raise your deductible, this reduces your chances of filing a claim, thus reducing your insurance rates. It is not a huge factor, but it can reduce your rates by a couple hundred dollars.

  5. Drop Collision
  6. If increasing your deductible did not lower your insurance premium enough, you may want to consider dropping collision coverage altogether. This can be a good way to save money if you have an older car, as when you file a claim the insurance company goes by the ‘blue book’ value of the car. If your car is older, and you already have a large deductible, there might not be much left when you try to settle with the insurance company.

  7. Anti-Theft Devices
  8. By installing anti-theft devices, you will lower the probability that your car will be stolen. The lower the probability for theft, the lower your auto insurance rates will be. However, this does not seem to decrease your insurance rate by a large amount, it only has a small amount.

  9. Combining Policies
  10. If you have an insurance company that also offers home insurance, then you may want to think about combining your policies with the same company. If you insure you house and car with the same policy you will get a discount. The amount of this discount depends on the company however, but it can end up being a couple hundred dollars. Also the more cars you insure with a company the better your rates will be. So if you have a family, with multiple cars, ask about the multiple automobile discounts.

  11. Student Discounts
  12. This does not apply to everyone and not every company offers it, but most big national companies will offer a discount for students. If you are in high school, or college, then you would be eligible for this discount, and it can end up being several hundred dollars. Some companies require that you maintain a minimal GPA, and require confirmation of this GPA via official transcripts. For students this is a great deal, as it helps lower the already sky high rates for young people.

Take note of each of these tips when looking for auto insurance or look online for some quotes employing these new tips. You can get a free online insurance quote at Auto Insurance Knowledge under the free quote section. This quote will compare all companies in your area and bring you back the best prices. See how the prices change when you alter the deductible or drop collision.

The primary concern of any businessman is to keep his business running smoothly and making profits. The factors which are capable of influencing the smooth running of a route business include compliance with the brand requirements and ensuring that the business is well protected. Many companies provide Commercial auto insurance which helps to protect their business while saving their time and money. The following tips will assist independent route owners in buying auto insurance that will not only properly protect their business but will also help them in managing costs.

Tip 1 – Higher Limits Come with Better Protection

It is quite understandable that most independent route owners would love to keep their premium low but the truth is that the most expensive policy is a policy which doesn’t have the sufficient coverage to protect a business when the business is sued. It is advisable to go for viable auto insurance with higher limits must especially when your business needs more protection.

Tip 2 – Hiring Drivers with Good Driving Records

Listing employees with good driving records in the commercial auto insurance policy goes a long way in keeping a low premium. Thus, it’s important to check the driving records of drivers before employing them. When you employ a driver with bad driving records, you are not only increasing your premium but you are also putting the future of your route business at risk.

Tip 3 – Rental Reimbursement Coverage

When a company has one or few vehicles, it is advisable they go for a commercial auto insurance policy that has rental reimbursement coverage. This type of policy will cover the cost of renting a replacement vehicle in case the company vehicle gets damaged in an accident and wouldn’t be on the road for some time as it has to be taken for repair.

Tip 4 – Higher Deductibles Comes with Lower Premium

Deductible refers to the amount of money which the owner of the route pays in case of a claim before the insurance company pays the rest of the claim. The higher deductible you wish to pay, the lower your premium. Thus, it is advisable to increase your deductible when buying profitable auto insurance. However, independent route owner should ensure that they set their deductibles to the amounts which they can easily afford because claims can come up at any point in time.

Tip 5 – Pay Electronically

The advancement in technology has brought about the payment of fees electronically. When you pay your insurance company through Electronic Fund Transfer which withdraws your payment directly from your bank account, you might get waived on installment fees. This payment option does not only save you some money but it also saves you from missing a payment which can lead to additional fees or the cancellation of your insurance.

In today’s economic times, we are all attempting to save some money. We may have put a little off from the phone bill or cut off from a few cups of coffee. Why not save an amount of cash from your car insurance, as well? Here are a few tips that might help you save a large sum on car insurance.

Tip One: Receive a Small Mileage Discount
You can take a bus, a carpool, or cut back your trips. When your mileage per year is 10,000 or less, majority of insurers may give a discount.

Tip Two: Study Hard
You may be eligible for a Good Student Discount if you are a student in high school or college with an average grade of B or higher. You need to show evidence of your GPA every year.

Tip Three: Take a Safe Driving Class
A lot of states provide a discount to grown-up drivers who enrol in an authorized defensive driving class. You may ask the car insurance company as to where you may enrol for these classes.

Tip Four: Drive a Hybrid Auto
Travellers and others provide a hybrid discount. Other fuel efficient autos frequently have a lesser cost compare to gas guzzlers. Evaluate rates prior to making a purchase.

Tip Five: Get a Multi Policy Discount
Insure you boat, motorcycle or house with your car insurer in order to acquire a discount on your auto insurance. You may browse through the internet in search for a quote.

Tip Six: Purchase Gap Insurance
Gap insurance may have a higher cost, but it will cover your loan compensations. If you have a full loss of a new auto, gap insurance is worth less compared to your total balance.

Tip Eight: Do Not Allow Your Policy to Lapse
It is illegal and you could shell out 25 percent more for a new plan when you are prepared to purchase one. A number of insurers provide a transfer discount, as well.

Tip Nine: Defend Your Credit
In a lot of states, overlooked payments can reduce your credit score, making it more costly to acquire auto insurance coverage later on.