How to Get the Best Possible Rates On Automobile Insurance

By asking for discounts to which you are entitled and by using some of the strategies in this article, you can minimize your automobile insurance premiums and wind up with more money in your pocket to use for other things.

In terms of discounts, you should always ask your insurer if you are eligible for a reduction based upon your having multiple premiums with the same carrier. For example, if you have your homeowners and automobile insurance with the same company, you will typically be entitled to a multi-premium discount from the carrier. If you have all of your insurance policies written with the same carrier - for example, automobile, homeowners, and life - the discount is likely to be correspondingly larger.

Another discount to which you might be entitled is the student discount. This discount is available when one of the insured drivers in a family is a student and that driver is maintaining at least a B average in his studies. Some insurers will want to see a copy of the student's report card as proof that the requisite grade point average has been earned, but you will find that the minor inconvenience of providing the report card is far outweighed by the discount you will receive. Of course, if the student's grades decline, the discount will be withdrawn until such time as the student again reaches the threshold grade level.

The safe driver discount will apply when the named insureds on a policy have not had a ticket or accident within a specified period of time.

And, if you are a senior citizen, and you have been accident-free for a specified period, certain discounts may be available to you.

Other ways to decrease your insurance premiums include increasing your deductible amount. It is important to recognize that doing so will result in higher out of pocket costs to you if a claim must be made. The typical, or standard, deductible is $500, but it is possible to raise your deductible to as high as $2,000 to realize a premium savings. If your finances are such that you are equipped to come out of pocket $2,000 in the event of an accident, then this strategy might be suitable for you. On the flip side, it is important not to opt for a deductible that is higher than what you can manage to pay in the event of an accident.

Finally, you can reduce your premium costs by comparison shopping. There are many carriers out there, and with a little homework, you may find one that will offer you the same coverage you are seeking for a cheaper premium. Because of this, it always makes sense to shop around before you sign a contact with any one carrier.