Ways to Lower Your Car Insurance Rates

In tough economic times, saving money is more important than ever. There are several ways you may be able to lower your car insurance rates and cut down your monthly bill.

Know your options. Get a quote from several car insurance companies by calling them or accessing the information on the Internet. Since prices vary from company to company, you might be able to get a much better rate by shopping around. Also, use the information you get as a bargaining tool with your current insurance company to further lower your rates. But remember: it is important to contact a local and reputable insurance agent who can advise you what insurance you really need to protect you and your family! Here are my recommendations as a Gainesville accident lawyer that has helped victims of accidents for over 37 years.

Get a copy of your driving record. Errors in your driving record may drastically increase your car insurance rates. For a list of places where you can obtain a copy of your driving record in Florida, please see http://www.flhsmv.gov/ddl/abstract.html.

Get a quote before you buy a car. Your insurance rate depends on the model, year and features of your car. It may be cheaper to insure a car equipped with an anti-theft system.

Check the company's financial health. Before you buy insurance, make sure to check the financial situation of an insurance company with A.M. Best (http://www.ambest.com) and Standard & Poor's (http://www.standardandpoors.com/).

Ask friends and family. Your friends and family members might be a valuable resource: find out what their car insurance rates are and ask for their recommendations.

Maintain a good credit record. Since insurance companies take into consideration your ability to pay bills on time when setting your car insurance premiums, good credit history is essential to keep your car insurance rate low. Pay your bills on time, make sure that your available credit is more than 50% of the total credit limit on your credit cards, and regularly check your credit score and your credit report for errors.

Identify all discounts for which you are eligible. Most car insurance companies offer various discounts, which may drastically decrease your insurance rate. Those discounts include student discount for good grades (usually a GPA of B or better), discounts for driving a "green" environmentally friendly vehicle, discount for having an anti-theft system installed in your car, defensive driving or mature driver course discount, discount for driving less than average number of miles each year, and safe driver discount. You should also inquire about special lower rates for employees of certain companies and educational institutions. Additionally, combining multiple cars or your home into the same insurance policy may also lower your car insurance rate.

Although you should know about the ways you can lower your car insurance rates, remember to ALWAYS MAINTAIN car insurance. Failure to have car insurance may cost you thousands of dollars if you get into even a minor accident and may lead to revocation of your driver's license.




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