How Do I Lower My Car Insurance Rates? Important Factors Hurting Your Rates

With so much frightening emphasis on the shakey economy and scary rumors about recession on the rise, many people in Florida are trying cutting corners and costs where they can. From careful budgeting to simply doing without some things they have become accustomed to, but there is one thing you simply cannot cut back on- your auto insurance coverage. There are many ways of lowering your higher premiums without really losing the coverage you have come to expect and need.

Firstly, make sure that when you are seeking out insurance in the beginning, you are looking around. Many websites offer the chance to do a side by side comparison of different plans and policies, as well as a variety of different companies. From the comfort of your own home, either on line or on the phone, you can ask around and find out which is best in your area.

If you have shopped around and are still happy with your insurance provider or perhaps you are just looking to get your current rates lowered, consider raising your deductible a bit. In some cases, if you are willing to pay a higher deductible and have that set aside in case something does happen, you can slash your rates in half.

If you have already paid off your car, or perhaps have an older model, another way to lower your rates is to reduce coverage. This option is not for everyone, granted, however, sometimes opting for liability only so that you are covering repairs to another person’s vehicle in case of an accident can really drop your rates down quite a bit, under current Florida law you must have at least 10,000 of personal injury protection and 10,000 property damage liability.

Merging your existing auto coverage with home and life, if you can is yet another way to save, that is, using the same company for all policies- also, you might try asking about a loyalty discount if you have been with them for quite some time. Asking your insurance company if they happen to have any low mileage discounts or perhaps see if they offer some sort of credit for a safety equipped car can also lower your rates. Things like air bags, anti lock breaks, daytime running lights and anti theft systems can really knock your rate down quite a bit, as well.

There are, as you can see, quite a number of ways that you can make sure that you are paying the lowest rates you can be and still have the coverage that you need. All you have to do is look around and shop smart and you’ll find your insurance budget at its lowest and still the satisfaction you want. By making a few key changes to the way that you do things, or even changing your provider, you can make a big difference in the amount you are paying for auto insurance and be able to save big money on your premiums as time goes on.

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