When buying insurance for your vehicle, there are many things to think about. One of the big things is to think about your deductible amount. Deductible is the amount that you pay if you have an accident, theft or etc. with your car. The insurance company kicks in after the deductible is paid. Choosing a higher deductible can reduce the amount of your premium considerably. For example, if you choose a $500 deductible instead of a $200 deductible, you can lower the cost of your premium by as much as 30%. You have to consider that you are going to have to pay the amount of your deductible, say it’s $500 before your insurance kicks in, so be prepared for that. But think about having even a $1,000 deductible that could reduce your premium by as much as 40%. That’s pretty huge.

As your car ages, you could consider dropping your collision coverage. The rule of thumb is this, if your car is worth less than ten times the premium, you could cut out that cost. Check Blue Book prices on your vehicle before you act.

It also saves you some money to choose an insurance company that can offer you more than one type of insurance. Sometimes companies give you a discount if you get your homeowner or renters insurance and your car insurance from them. Make sure you check out this option, as well.

Keeping your credit in check is also a really good idea. This can cut your insurance costs as well. A lot of insurance companies check your credit before pricing your policy for you. It just stands to reason that the better your credit is, the less your premium will be. You know how it goes; good credit gives you much more power.

Driving fewer miles can also give you an advantage in the price of your insurance. If you have a child out of town in college, a high school student who makes really good grades or is taking or has taken a Driver\’s Education Course. Let’s say you have a safe driving record or if you have taken a Defensive Driving Class, these things can give you lower insurance rates. Also, if you haven’t had a speeding ticket in more than three years, an accident or moving violation in more than three years, these things will also give you lower rates. There is equipment on your car that can save you some money on your insurance premium. Make sure to check things like this even before you buy a new vehicle. If you don’t have a new vehicle or are not planning to buy a new vehicle anytime soon, here are things you can check to see if you can save yourself some money. If you have air bags, anti-lock brakes, anti-theft devices, even if your lights are set to be on all day, these are all things that can save you money on your car insurance.
Just doing a little due diligence can save you some money. Give it some thought and give it a try.

Author Bio: Lawrence Reaves writes for the Virginia Insurance Group, a leading broker of Richmond insurance policies such as Richmond car insurance and renters insurance. Virginia Insurance Group can be found online at: VirginiaInsurance.com .

Category: Home Management
Keywords: insurance, auto insurance, insurance deductible