With the bad economy, every little bit of savings will help. When was the last time you checked for auto insurance rates? If you are spending more than 12-15% of your total income on car insurance, you might need to get some car insurance quotes. Experts suggest spending no more than 15% of your income on insurance. Get at least three auto insurance quotes to gauge how much you should be paying.
Tips To Reduce Car Insurance Premiums
- Trade in your expensive sports car for a clunker that works and is reliable. This saves you a lot of money on your auto insurance coverage.
- You can pay a lower premium if you do not mind paying more out of pocket expenses when and if a car accident occurs. Get a higher deductible and your costs can decrease as much as 15% to 30%.
- Get rid of collision coverage on cars with very low market value. It is not worth the cost to repair a low market value car.