Find Cheap Car Insurance, But Be A Savvy Shopper

2007-03-08 10:33:40

( Automobiles )



One factor that influences the amount and cost of auto insurance you need to buy is the place where you live. Rate variation due to place arises from: state insurance requirements, local population, collision damage repair costs, auto theft incidence, and hospital costs. You get charged for the cost of nearby accidents in your area involving uninsured drivers. In short, if you live in a high-risk area, it won’t be easy to find cheap car insurance.

For example, New York auto insurance laws require a 25-50-10 liability coverage, which means (in dollars) 25,000 for bodily injury to any one person in any one accident, 50,000 for bodily injury to two or more persons involved in any one accident, and 10,000 for property damage to another car. But you will want to add optional coverage. Losses due to car accidents can be many times higher than the minimums required by the state.

Unfortunately, a recent rash of auto insurance fraud has caused New York auto insurance premiums to soar and become the second-highest in the nation. As a New Yorker, you will be under greater pressure to find cheap car insurance premiums.

You must shop around to find cheap car insurance rates. You can find big differences in car insurance. You may want to stick to your current insurer, but there’s no harm in making a few calls. In addition, you may want to find other ways to save.

If you find ways to convince insurance companies that you are a lower risk, you’ll be better able to find cheap car insurance quotes. For example, you can reduce your annual miles driven by taking public transportation more often. A classic way is to raise your deductible (the amount you are willing to shoulder) – taking 500 instead of 200 dollars in deductible saves you 30 percent. If you insure your car and your house with the same company, you’ll get a good discount.

If you are buying a new car search around before you even buy it. Find out how much it will cost to insure the model you’re thinking of buying. Some cars cost more to repair, and that risk goes into the insurer’s calculations. On the other hand, you might get some new car rebates on your insurance quote. When you get the insurance policy on your new car, search it closely for coverage that you didn’t authorize, and be on the look-out for the zip code zap.

If you do find cheap car insurance options, you may want to tell your friend about it. Your friend may also know a thing or two.


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