Whether it is car insurance or a new pair of jeans, we always want to get the best deal. But unlike those new Levi’s, car insurance is a “must-have” accessory that every American driver is required to carry. Since insurance is not a choice, but a requirement, everyone wants to get the cheapest car insurance possible.
So how do you get the best deal? The most important thing to keep in mind is that you must shop around. The Internet is the best ally you’ll every have in the battle to find the cheapest car insurance. Using comparison sites like InsWeb or eAssurance, you can compare policies and rates for many different carriers and find what works best for you. Some of the big name carriers claim that they will do the comparison for you when you call. Is it just me or does that sound like baloney? What business, especially in this economic climate, is going to tell you to take your business elsewhere? Stick with an unbiased, independent third party source when doing your comparison. Presumably they are getting the same amount of affiliate commission regardless of which company you end up with.
But what if you already have insurance? Is there a way to get a better deal than what you are paying now? Of course there is, all you have to do is ask. Insurance companies employ people called actuaries. The job of an actuary is to put a price on risk. Risk is the name of the game in insurance. That’s why it costs more to insure a teenage boy when compared to a 35 year old soccer mom. The formulas the actuary uses tells him or her that the teenager is more likely to be in an accident.
So how can you use this to your advantage? Depending on your lifestyle, your age, where you live and what you do for a living, you can lower, possibly dramatically, your car insurance rates. Live in a house instead of an apartment? You get a discount. Drive a Chevy instead of a Ferrari? You get a discount. Do you park on the street or in a garage at night? If you said garage, guess what, you get a discount. If you drive 50 miles to and from your job, sorry, no discount for you. How do you know if you are considered a risk or a reward customer? Call and ask. Ask what kinds of discounts are offered based on your location, job or lifestyle, it could save you a bundle.
In the never ending quest to save money, we have looked at some ways to lower the cost of your car insurance. Make sure you follow through and give your insurance company a call and get the best deal they have to offer. If you still don’t like what they are charging, get on the web and find a better deal, it’s just a few clicks away.