How to Rewrite Your Car Insurance Policy to Save Money

Car insurance is something every driver using public roads in North Carolina is required to have according to state law. How much you pay for your coverage, however, can vary widely, depending on numerous factors. The car insurance industry is extremely competitive, especially in this age of instant Internet quotes, and policies can be somewhat confusing to understand. Having a trusted insurance agent to advise you on what’s best for your specific personal car insurance needs can help you in finding the best coverage for the best price and from an established, dependable insurer. For those in the know, there are many ways you can rewrite your current car insurance policy and save some money at the same time. Consider these tips for lowering your auto insurance premium costs:

• It’s always a good idea to get several new insurance quotes when certain changes in your life occur since these may affect your risk profile and, therefore, your insurance rates. Such events may include attaining a certain age (such as age 25 or age 55), getting married, retiring, getting a new job (some occupations may bring a rate discount), moving to a new location or significantly shortening your daily driving commute.
• Maintaining a clean driving record with no accidents, moving violations or insurance claims may qualify you for a safety discount.
• Combining your car insurance policy with the same company that carries your homeowner’s and life insurance policies may give you a discount on your coverage rate.
• Increasing the deductible amount on your policy will certainly lower your premium rate. Paying your premium annually rather than in monthly installments should also provide you with a price break.
• Decreasing coverage on older cars will save you money. The rule of thumb says that if the premium amount you’re paying for your comprehensive/collision coverage is greater than 10% of your car’s value (check the Kelley Blue Book), you should probably drop that part of your policy coverage
• Many insurance companies factor in your credit scores when calculating premium rates. Maintain a good credit rating and, according to statistics, you’ll likely have fewer accidents!

There are plenty of other discounts available from various car insurance companies, most of which you may never know about unless you ask. Students with good grades or driver’s education credit, for example, may also qualify. Be sure to ask your agent.