Keeping your coverage rates down for vehicle insurance is one of the best ways to save money. Many drivers wrongly assume they can get the best deals by sticking with the same company for years. Whether you’re searching for a rate in Seattle or typing ‘auto insurance bothell wa’ to find a lower suburban price, doing some online shopping can save you upwards of thousands of dollars a year if you look in the right places. Even if you have been with the same provider for a decade or more, that doesn’t mean you’re getting the best rates you can for the area your living in. Many drivers wrongly assume that extensive coverage is needed in order to minimize their risk of liability in the case of an accident. While it’s certainly true you’ll almost always want to have some form of bodily liability coverage in case another driver is injured in an accident determined to be your fault, some other forms of coverage might be superfluous given your circumstances.
Virginia auto insurance companies all the way to California providers want to make you believe that even older vehicles should have solid collision coverage. But realistically speaking, how much do you want to pay for monthly or bi-annual premiums in order to keep your beat-up compact car from the 80s protected? For many vehicle owners with older and maintenance-heavy models, there’s no reason to pay more for coverage than their vehicle is even worth. This is especially true in cases where a driver doesn’t even commute very much using their car. Another way someone in this situation can potentially save money is buy having a higher deductible. That means increasing the amount of money you’ll need to pay out of pocket before benefits kick in. Going as little as $500 to $1000 higher on a deductible can save you as much as 15 to 25 percent on your premium. Theft coverage can also be minimized by installing deterrents like a wheel-looking device or car alarm.
The best way to get a gauge for prices in your area is to compare instant auto insurance quotes online. It’s best to get as many quotes as possible so you have a sense of what is a fair market value. Premiums that seem too good to be true almost always are, so be able to recognize potential scams or misleading offers. Run a credit check on yourself as well because companies will often base their rates on your financial background. A higher score almost always means a lower premium, so don’t be swindled by a firm that marks you up even if you have a great credit history.