How to Lower Car Insurance Costs
In most states, car insurance is mandatory. However, that doesn’t mean that you have to spend a large sum of money on it. It is always possible to seek out the best deals and reduce your monthly costs. Here are some methods that will help you save money on car insurance.
Types of insurance
Before you get started, it’s important to know the different types of insurance. Liability insurance is mandatory in most states and covers a certain amount of damage. This insurance pays for property damage and injuries incurred in accidents. However, medical bills and car repairs are not covered. You can save some money on liability insurance by maintaining a clean driving record most companies will lower the annual rate for a good driver.
Collision insurance covers your vehicle in case of a wreck. This type of insurance has a deductible, so you know how much money you will have to pay up-front before the policy covers the rest.
Finally, you can choose comprehensive car insurance – iSelect. This insurance protects you against everything, from acts of vandalism to natural disasters. This type of policy also comes with a deductible. You can often reduce costs by installing certain approved security features on your car.
Ways to save
Etch your VIN onto the car windows
The VIN is the unique vehicle identification number which can be found on a sticker placed on the driver side door of a car. Etching your VIN onto your car windows can help reduce your insurance rates.
“VIN etching is the permanent engraving of a vehicle’s federally registered vehicle identification number (VIN) onto its windshield and windows. VIN etching is often seen as a deterrent to thieves because it not only makes it nearly impossible for thieves to profit from selling windows and windshields, but it also makes it more difficult for thieves to find a way to dispose of the vehicle once it has been stolen. As a result, VIN etching is recommended by police and insurance agencies to protect against auto theft,” Allstate explains.
Install a car alarm
Certain security measurements can help you lower your car insurance rates. Installing an alarm is recommended because it can help deter thieves. However, if you want to get the full savings you will have to install a passive car alarm, not an active one.
This article was contributed by Costea Lestoc.