What Car Insurance Coverage Do I Need?

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Five Ways to Save Money on Car Insurance

In this economy, saving money is on everybody's mind. Car insurance is no exception. Because car insurance is a state requirement in almost all 50 states, not getting it in order to save money is not an option. So we must find ways to make it work for us within our shrinking budgets. Here are five ways that are guaranteed to reduce your car insurance rates.

Comparison Shop

Not all car insurance companies are created equal. Do some hunting; find the company that best suits YOUR needs. Remember that you are the customer, and a little competition between companies vying for your business never hurts anyone. Also, don't be afraid to broaden your search to include the internet. Some of the lowest rates can be found on insurance companies websites.

Ask for Higher Deductibles

Although a higher deductible may make you nervous, it is a great way to lower your monthly rates. Be sure that the deductible is not out of your reach in the event that you do actually have to pay it.

Don't Buy a Flashy Car

When you are purchasing a car, there is no need to buy a flashy one. Believe it or not, the color, model, and make of your car raises the risk of insuring it. For example, a convertible will be expensive to insure because of the safety risk. Also, a corvette may be expensive to insure because of the risk of theft.

Ask for Discounts

There are countless discounts available to you if you just do a little poking and prodding. Some companies offer a discount if you insure your home and your cars together. Some offer a discount if you plan on driving low miles-like if plan on carpooling to work. Still, others offer a discount if you purchase insurance through a group such as your credit union or another such organization.

Maintain Good Credit

Having and maintaining good credit benefits you in so many ways, and it may surprise you to learn that car insurance is one of those ways. A good credit record often speaks to your responsibility as a whole.

Car insurance is a requirement, but it doesn't have to be expensive. This is not an exhaustive list of ways you can save; do some looking for yourself to find the best deal on car insurance!

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