Saturday, August 11, 2012

Saving on Insurance

Are you looking for ways to save on your insurance? Ever wonder why your rates seem to decrease typically as you get older? I know I have wondered this and never really understood it. I guess the insurance companies feel that you are not as much of a risk the older you are. But one thing is for sure, you need to have auto insurance at all times. Did you know that accident rates drop significantly after 9 years of driving? Insurance companies know that fact.

Some major factors that the Insurance companies take into consideration when quoting you prices are...
1. How old you are
2. Male or Female
3.  Married vs. Single
4. Driving Experience
5. Do you live in a city or rural area
6. Are you looking for Full Coverage or just the basics
7. Are you accident prone

Those are a few of the major factors but did you know the type of vehicle you drive can also impact the insurance premiums you will have to pay? Also where you drive that vehicle and for what purpose can impact your rates. For example someone driving a Honda to and from work in the city 30 miles a day may pay more in premiums than someone driving that vehicle for pleasure only in the country. One final piece of advise is make sure to compare companies.  There is no shame in pricing around. Often companies will give you a discount if you have your home and auto with them as well so don't be afraid to ask what discounts are available and how you can get those discounts to work for you.

If you would like to learn more about ways to save on your auto insurance then click here.

2 comments:

Danielle Harper said...

Thanks for these tips... it's super important to let the insurance company know when ever things change in your life so that you can get discounts if applicable. I know when Dustin and I got married our rates dropped considerably!

Beth R said...

Thanks for the tips! I had never even thought that where you drive your vehicle could impact your rates. Definitely some good things to keep in mind