During times of economic recession, the single most important word is SAVE. Therefore, it is essential for us to find ways to lower our monthly expenses and free up cash for more important expenses. While many of you will tell that insurance is not a basic necessity, insurance lets you protect for uncertain times like an accident.
In my previous post, I discussed about life insurance and differentiated between whole life insurance vs. term life insurance. Today, we are about to discuss car insurance. Cars provide us transport convenience. However, we cannot avoid having some accidents from time to time. Car insurance covers that huge car repair expenses that we might have in case of such accident happens.
So what can you do to get the best car insurance at the lowest cost? Here are some tips I would like to share in getting cheap car insurance rates.
Be sensible in your choice of car. Forget about the luxurious sports cars and choose a medium sized, safe, family car. Sports cars definitely have higher insurance premiums. Don’t add any enhancements such as extra fire power in the engine. If you can afford it, fit extra security and safety devices.
Shop Around. It really pays to have a comparison of car insurance quotes. Nowadays, with the rise of internet technology, you can now compare different car insurance quotes by visiting websites. Sites like TheZebra.com and carinsurancelist.com will make sure you don’t overpay for car insurance. Dig deep and find out as much information as possible before making a final decision to buy that car insurance. Low rate car insurance policies are easy to obtain online through virtually every major automobile insurance provider.
Stay aware from premium car insurance rates. Increase your deductibles on the insurance policy to lower your monthly or yearly cost. Be aware of insurance rates for newer car models. If you drive a lower model car and asked to pay insurance rates that a driver of a newer car would pay, walk away. No reputable car insurance company would ask you to pay outrageous rates unless you have a history of being a high-risk driver.
Have a clean credit reference. Depending on your age, you may not yet have built up a credit record especially if you are still young. This can affect your car insurance quote as having a clean credit reference will positively affect your insurance premiums. So if you have credit cards, use them wisely, pay it back and build up that credit score.