Finding the Best Deals
Written by Michael Browne
In tough economic times like these, we are all engaged in personal wars against spending. Many of us have eliminated luxuries, like designer coffee or fancy bottled water. Some families are going without health insurance, and in some cases, may be tempted to pare their auto insurance coverage to the bare essentials.
While eliminating all but the most basic coverage - generally whatever the minimum amounts of liability, un/under-insured motorist, and personal injury protection (PIP) coverage - is a valid way to save money on auto insurance, there are other ways to find the best possible deals. They include:
- Choose your car wisely: A used car that you can pay for outright doesn't require the full coverage that a brand new, financed car, does. As well, sports cars with overly powerful engines, while a blast to drive, are a higher crash risk than a more conservative sedan, and therefore cost more to insure.
- Bundle your coverage: Do you own a home, or heave a life insurance policy? If so, you should get a quote from that insurer for your auto coverage. Why? Because by having multiple lines of insurance with one company, you'll usually get a discounted rate on one or more of your products.
- Check with your employer: While most corporations don't actually provide auto insurance as part of their benefits packages, some do offer a discount if you use a specific provider. While these rates aren't always the cheapest, often they are, and it's definitely worth checking out.
- Shop around: Always, always, get insurance quotes from more than one company. Some offer different coverage options, like pay-as-you-drive, which can save you a lot of money if you work from home or have a short commute, while others give discounts to members of specific unions or professions. Either way, comparison shopping can save you a significant amount of money.
These are just a few of the ways to find great deals on car insurance, giving you excellent coverage at a cheap price. For more ideas, read the other pages on this site, and ask your existing insurance agent as well.