Getting the cheapest rate on car insurance may be as easy as a quick phone call or a click of a button, but will you be guaranteed the best coverage? Initially, what looks to be a cheaper rate, may end up being more expensive down the road due to “bare bones” coverage, leaving you financially strained/demolished if you aren’t careful. Find out 5 ways to save money on car insurance so you won’t fall prey to the “cheap deal” ads.
Tricky Ways to Quote a Cheap Rate
Some N.C. auto insurance companies may quote you a lower rate than some others, but you must be aware of how they do it and what coverage options the quote entails. Watch out for the following sneaky tricks that some insurance companies use to entice you:
Initially, the car insurance company may offer the best quote; however each time your renewal comes due, you may see the rate increase and before you know it, you are paying a substantial amount higher than you were initially guaranteed. Be careful…saving money on the front end may end up costing you more in the end.
The other sneaky trick is giving an insurance quote based on “bare bones” coverage leaving you with very little protection and exposing you to financial ruin. You may only have the minimum liability insurance limits with this cheap coverage, when you actually need much higher limits for your utmost protection.
Ways to Get a Cheap Rate AND Adequate Coverage
Keep in mind that there are gimmicks out there of which you need to be aware; however, you CAN save money on car insurance, while still getting the coverage you deserve if you follow these tips:
- Bundle your home insurance with your auto insurance- By using the same company to insure your home and auto, you will receive a discount of up to 20%. Almost all companies will provide some type of discount by bundling your insurance coverage under the same roof.
- Increase your deductibles- By increasing your comprehensive and collision deductible, you can reduce your insurance rates. A deductible is the amount you are responsible for paying when a claim is paid. If you have a collision claim for $3000 and your deductible is $500, then your insurance company will pay $2500, while you absorb the $500 amount. By increasing your deductible, you may pay more up front when a claim arises; however it saves money over the long term.
- Take advantage of every available discount- Ask your N.C. independent insurance agent if you are eligible for discounts such as safe driver, accident free driver, or mature driver, to name a few. Every discount saves money!
- Buy a low profile car- There are many known cars that are targets for thefts and some that are targeted by police as they are deemed to be “fast” or “unsafe.” Insurance companies use a system of symbols to rate cars with the higher rates going with the higher symbol. Also, the more expensive car you own, the higher the rates will be. Contact our office to inquire about symbol ratings.
- Use a N.C. independent insurance agent- Our agency can shop for you to find the best car insurance rates with multiple insurance companies for all of your insurance needs. Your independent insurance agent can stay on top of this for you to warrant the protection and rates you deserve.
Follow these tips to get the coverage and best rates designed just for you and your car insurance needs. Call our office TODAY at 866-869-3335 with any questions regarding your protection and savings for all of your insurance needs.