insurance

Due to the litigious nature of our society and the rising cost of vehicles, car insurance rates are hefty throughout the nation. The bad news is that insurance isn't likely to lessen in price any time soon. The good news is that there are things that you can do to minimize increases and/or lessen the burden on your wallet. Let's take a look at 12 tips you can employ to save your driving dollars.

1. Insure Multiple Cars/Drivers
If you obtain a quote from an auto insurance company to insure a single vehicle, you might end up obtaining a higher quote (per vehicle) than if you inquired about insuring several drivers and/or vehicles with that company. This is because insurance companies will offer what amounts to a bulk rate because they want your business, and under some circumstances, they are willing to give you a deal if it means you'll bring in more of it.

To obtain a discount, ask your agent/insurance company to see if you qualify and get a quote. Generally speaking, multiple drivers must live at the same residence and be related by blood or by marriage. Two non-related people may also be able to obtain a discount; however, they usually must jointly own the vehicle.

Incidentally, some companies may also provide an auto insurance discount if you maintain other policies with the firm (ex. homeowner's insurance). Check with your agent/insurance company to see if such discounts are available and applicable.

2. Keep A Clean Record
It should go without saying that the more accidents or moving violations an individual has, the more he or she will tend to pay in terms of annual premiums. For those unaware, points are typically assessed to a driver for moving violations. Generally speaking, more points can lead to higher insurance premiums (all else being equal).

3. Take A Defensive Driving Course
Sometimes insurance companies will provide a discount for those that complete an approved defensive driving course. Also, sometimes a driver can reduce the number of points he or she has on his or her license by taking a defensive driving, accident prevention or other course.

Make sure to directly ask your agent/insurance company about this discount before signing up for a class. After all, it's important that the effort being expended and the cost of the course will translate into a big enough insurance savings. It's also important that the driver sign up for an accredited course.

4. Shop Around
If your policy has just been renewed and the annual premium has gone up markedly, consider shopping around and obtaining quotes from competing companies. Also, every year or two it probably makes sense to obtain quotes from other companies just in case there is a lower rate out there.

However, remember that cheap doesn't always mean good and going with the lower-priced company isn't always the wisest decision. That's because the insurer's credit worthiness should also be considered. After all, what good is a policy if the company doesn't have the wherewithal to pay an insurance claim? To run a check on a particular insurer, consider checking out a site that rates the financial strength of insurance companies (such as A.M. Best). Financial strength of your insurance company is importnant but, what your contract covers is also very important so, make sure you understand your insurnace contract.

5. Take Mass Transit
When you sign up for insurance, the company will generally issue you a questionnaire. Among the questions it asks might be the number of miles you drive the insured automobile per year.
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