There is no getting around purchasing car insurance if you plan on operating a car, truck, or motorcycle, as it is not only required by law to have but it is also essential in the event of an accident. Unfortunately, insurance premiums can be rather costly which can make choosing a policy difficult, especially if you want adequate coverage that will cover you and allow you to spend less in the event of an accident. While we all know that insurance costs can be a burden and expensive, there are ways you can save so that you aren’t having to dish out so much each month.
According to Consumer Reports, there are 10 potential ways you can save on that costly insurance bill, which may help free up some money that can be used to save or cover other expenses. Some of these include:
- Do an annual rate check.
Although Consumer Reports states that it may be difficult for you to beat your insurer’s rates, especially if you have been with them for years and haven’t filed any claims, it can’t hurt to compare what your insurer is offering with other companies. So, at the end of the year, take advantage of some online tools such as insure.com and netquote.com to see what other quotes insurers in Louisiana can offer you for the same coverage you are currently receiving. If you find they can offer you a lower premium, you may want to consider switching companies.
- Only purchase from a top-rated insurer.
While it is always nice to save some money, you do need to watch out for insurance companies who offer you a lower rate. The reason being is that if they aren’t a top-rated company or have a history of providing poor service to claimants, you may wind up spending more if you engage in a collision as they may provide you with a low-ball estimate that isn’t enough to cover the damage. Another problem you may encounter is that they may “hassle the repair shop to cut corners, which [forces] you to pay extra for original equipment replacement parts.” Therefore, while you thought you were saving money each month, you end of having to spend more when it comes time to take your vehicle in for repairs. So, if you intend on switching insurers or are purchasing insurance coverage for the first time, choose wisely.
- Select the right deductible.
It is extremely important that you take the time to consider which deductible amount is best for you. Consumer Reports says that if you were to increase your deductible amount from $200 to $500, you can “cut your premium on collision by 15 to 30 percent.” And if you were to increase it to $1,000, you could save nearly 40%. Now, if you are someone who has never been involved in a wreck, you may opt to buy the higher deductible as this will decrease your monthly premium amount significantly. However, you need to cognizant of the fact that if you engage in a crash, you will be required to satisfy this deductible amount you purchase before your insurer will cover any damages.
- Inquire about discounts.
A majority of the insurance companies out there today offer various discounts depending on your circumstances. For example, if you are a student who earns good grades, you may qualify to receive a discount on your policy premium. Some other discounts you will want to find out about include:
- Those for new drivers who complete a driver-training course.
- Those for older drivers who have taken a refresher course.
- Those for drivers who complete a defensive-driving course.
- Those for individuals who are members of certain groups, such as being employed in a certain type of industry.
- Reduce your mileage.
Your estimated mileage driven per year plays a significant role in how much you pay for insurance. Be sure you check what amount this is set at and determine if it is accurate. If you think you drive fewer miles than what you initially told your insurance agent, reduce this amount so that your premium can go down.
To find out some other ways you can save on your auto insurance visit consumerreports.org.
While saving money on your car insurance is important as many of us don’t exactly have money to squander away, you need to be sure the company you choose to work with is going to provide you with the best service and will handle your claim properly in the event of an accident. And if you find that your current insurer isn’t handling you recently filed fairly, is providing you with a low-ball settlement, or is refusing to pay your claim, not to worry as Alexandria, LA auto accident attorney Davey Jones is available to help you.
While most insurance companies claim they will take care of you when the unexpected accident occurs, not all live up to their promise. Therefore, if you are experiencing an issue with an insurance company and/or aren’t being reimbursed for an accident claim, contact our office and we will be glad to help you get this matter resolved.
You can reach the Jones Law Firm at:
1330 Jackson Street
Alexandria, LA 71301