Car Insurance And Saving Money In 2008

By Justin Scott

Saving money on car insurance may not have been your top resolution, but it can be an easy one. Now is the time to get started and here are a few tips to help out.

1. Compare your current auto insurance with new quotes. The auto insurance industry is experiencing a competitive phase that’s causing many companies to lower rates. This was true last year and it’s a trend that’s expected to continue in 2008. If you haven’t compared your car insurance rate lately, you should as it could save you hundreds of dollars. You should get quotes from at least three different companies or agents. An easy way to do this is online at an insurance comparison site.

2. If you have bad credit, start improving it. Most insurance companies use credit scores to help determine underwriting risk, because they say they have found a correlation between people with good credit and low risk of a claim. The higher the risk you are, the more you may pay so it makes sense to have a good credit score. Since it takes some time to improve credit, now is the time to start.

3. Change your deductibles. Maybe you no longer need a low deductible for your collision or comprehensive coverage. By raising your deductible, you can lower your premium quite a bit.

4. Drive less. Not only is this good for the environment, it can be good for your pocketbook. If you can take public transportation or car pool to and from work, you’ll drive fewer miles in a year. The amount of mileage you drive is one factor in how much you pay for auto insurance.

5. Make sure you getting all the discounts you’re entitled to. Ask your agent, or the companies you are getting quotes from what are the discounts available. At the very least, if you own a home you should be able to save five percent or more just by insuring both your home and vehicles with the same company. Many insurance companies claim to be able to cut your premiums 20 percent or more with discounts. Check it out.

It would be nice to have more money in 2008. Get started today with your car insurance.

Justin Scott is an insurance writer. Here is a site to get free comparison car insurance quotes from several different companies: LowerYourInsurance.com. The site provides more information about saving on car insurance and features a quote comparison sheet to help when shopping for quotes. Compare car insurance quotes.