Reduce
liability insurance :-
This is the amount that your
insurance company will pay out to other people who are in an accident that is
caused by you. For example, you may have 100/300/100 right now, which stands
for $100,000 per person, $300,000 per occurrence, and $100,000 for property
damage. You can reduce it to 50/100/50 and save a significant amount each
month. Keep in mind that these numbers are the maximum your car insurance company will pay out; if
the personal injury expenses or damage to the other person's vehicle exceeds
the respective coverage, and then the difference comes out of your pocket. So
dropping your coverage too low is a risk.
Avoid
speeding tickets and accidents :-
These increase your rate. Too many tickets and accidents, and your car insurance company may threaten to
drop you. Each speeding ticket and accident stays on record for 3 years for my
policy. Then the rate drops back down when they see you have learned to control
yourself.
Good
student discount :-
If you are a student, you can
submit your report cards or transcript to receive a reduced rate if your GPA is
over a 3.0 for example. As if better grades make a person a safer driver?
Age :-
Once you turn 25, your rate substantially drops. Young men
have the highest insurance rates.
Type
of automobile :-
Type of car you drive makes a
difference in what you pay. An expensive, high horsepower, rear-wheel driver
sports car will cost a lot more to insure than an old, slow minivan.
Shop
around :-
A different company may offer a
better deal for the same coverage. Talk carefully with the agents and ask a lot
of questions.
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