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Lowering Your Auto Insurance Costs

By Mark Freeman

Vehicle insurance - a cost we all must bear if we want to drive. But you might be surprised at how varied the rates for car insurance can be in your area. Definitely shop around for your car insurance. Donít just go with the first agent you speak with.

Now, thanks to the internet, you can shop around right from the comfort of home. Go ahead and get at least three price quotes from different kinds of insurance companies.

If youíre in the market for a new car, call to see how much it will cost to insure in the first place. Having a car alarm and other anti-theft devices can help lower your costs.

Always ask about discounts. Donít be shy. Companies expect this!

Whatís my cost if I have a $500 deductible? (Increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by as much as 30 percent.)

How about a $1,000 deductible? Going to a $1,000 deductible can save you 40 percent or more. (Now if you donít keep at least this much in the bank, donít choose this option!)

If your car is worth less than 10 times the annual insurance premium, purchasing extra coverage may not be cost effective. Thatís one great thing about owning an old car!

My credit rating is excellent. I always pay my bills on time.

What if we insure more than 1 car with your company?

I havenít had an accident in more than three yearsÖ

I havenít had a traffic ticket in three yearsÖ

Iíve taken a driverís training course.

My car has an anti-theft device.

I donít put a lot of mileage on my car in a yearís time.

I carpool.

My car has air bags.

My car is quipped with anti-lock brakes.

I have daytime running lights.

Iím a student driver with good grades.

Since I have both auto and home coverage with you, do I qualify for a discount?

Iím a college student away from homeÖ

Iíve been a long time customerÖ

My mom and dad use your companyÖ

Do you offer any other discounts? Some companies offer reduced rates to drivers who get insurance through a group plan from their employers and other professional groups. It canít hurt to ask.

Not every company will offer the same discounts. Compare the final prices the various companies offer you. It pays to shop around for your car insurance!

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