5 Facts that will Reduce your Auto Insurance …by Danny

Auto insurance is all based on statistics and the chances of accidents happening.
Therefore, reduce the chances of accidents will ultimately reduce the amount
of the insurance policy. That’s why auto insurance is more expensive for teenagers
than adults. Here are 5 factors that the insurance companies look at to determine
how much your insurance will be.

1. Deductible. Raising the deductible on their auto insurance is a good way
to cut the cost of the policy. Sometimes you can reduce your annual premium
by 10 percent or more if you increase your deductible from, say, $250 to $500.
However, If you do this make sure you have the financial resources to handle
the larger deductible when the time comes.

2. Location. Living in a rural community with little crime and traffic congestion,
your premium will generally be lower than living in an urban area where your
car is more likely to be stolen, vandalized, or involved in an accident. Granted,
you shouldn’t move just to cut your auto insurance costs. However, this may
be one of many factors in your decision if you’re thinking about relocating
from the country to the city. What you should do ask one of your friend who
lives in the rural if you can use his address for the auto insurance and is
tell the insurance companies the rural location where your friend lives.

3. Garage parking. Cars parked in garages are less likely to be stolen, vandalized,
or struck by other vehicles. Using a garage to store your car may entitle you
to a slight premium reduction.

4. Mileage. If you drive less than a certain number of miles in a year (e.g.,
7,500), you may qualify for a low-mileage discount. If your insurer offers this
discount, try to limit your driving as much as possible. If you commute to work,
use public transportation instead of driving. When you go away on vacation,
fly or take the train.

5. Safety/Anti-theft Devices. Majority of the insurance companies offer discount
if your car is equipped with one or more of the following safety devices: anti-lock
brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such
as car alarms and tracking systems (e.g., Lojack) may also get you a discount
because they reduce the chances of your car being stolen or vandalized.

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To get an online insurance quote, I use InsureMe.com
for the best competitive quotes.