My name is Eric Bowman, and if you have questions about insurance, this is the blog you need to read. I was always confused when I had to purchase insurance. I would either end up paying for insurance I didn't need or I wouldn't buy the right policy. I finally decided that I was going to learn all I could about insurance policies so that I would understand exactly what I was buying. Now, I am completely satisfied with my insurance and the coverage is just what I need. I realized that there are others who are probably just as confused as I was, so I am writing this blog to help others get the best insurance for their needs and budget. I hope that my blog gives you the information you need to make the right choices when purchasing insurance.
You have just bought a car, and now you realize that you have no money left for insurance. Or maybe you already have a cover but find yourself unable to pay the premiums. What do you do now? Auto insurance is a requirement by law for anyone thinking of driving. You can't completely do away with car insurance, but there are things you can do to make it affordable.
If you are buying a new or used car, think beyond the car. Make a budget that includes costs such as insurance, car payments, and gas. Make sure you can afford it.
Get the Minimum
Liability Insurance is the least you can get away with. This policy only covers third party injuries caused by you and damage to property.
If your car is on loan, your lender may require that you take out more comprehensive coverage. But if the car is fully yours, liability coverage will be a cheaper option. If you already have coverage, you can reduce the coverage. You can reduce your liability coverage to the minimum, or to just above the minimum. Increasing your deductible will also lower your premiums.
Change your Car
The characteristics of the car you drive, such as age, engine capacity and size will affect your premium. A smaller, older car with a smaller engine will lower your insurance premiums.
There is always something you can do without so that you can pay your car insurance. It could be some entertainment or luxury. It's up to you to decide what to cut off.
Take Advantage of Discounts
Ask for discounts. You may be eligible for discounts for safe driving or loyalty. You will not get them unless you ask.
If you cover less mileage per year, you may want to take the option where your insurance premium is tied to mileage. This will cut your premiums significantly.
You'll be amazed at how much insurance rates can vary from company to company. Compare rates until you find something that suits you. You have the option of co-op insurance. This a non-traditional insurer owned by members. It will typically offer better rates but will require a clean driving record.
There are many things you can do to reduce your car insurance. It all starts with the car that you buy. Next, choose your insurer and your policy wisely and finally cut down on other expenses. Do everything you can to reduce your premiums, but don't drive without insurance coverage.