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Tag Archives: save on car insurance

5 Steps To Save On Car Insurance

ways to save money on car insurance

Despite the perception that car insurance is just another financial burden, like taxes or utilities, you’ll soon realize why it’s such an important investment. Just like when you hedge in the investment world to protect against the risk of a loss on the financial market, car insurance is the same—it’s transferring the risk of a loss to a third party, so you can drive without worrying about the financial consequences of a crash. However, just like the financial market, you have to do your due diligence in finding the right coverage for the best rate. Different insurance companies have different risk pools and financial structures, so rates often vary by thousands of dollars. There are a few different ways to make sure you’re fully protected, for the best price. Shop for the Best Rate By far the most important step in saving on car insurance is shopping around for the best rate. As mentioned above, different insurance companies’ prices differ by hundreds, even thousands of dollars, for what seems like no reason at all. However, it comes down to the different risk pools each company has on its books. For example, if one company has experienced more claims in the ...

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Ways To Save Money On Car Insurance

save on car insurance

Unless you live in an area with excellent public transportation, having a vehicle is a necessity for most families. Since drivers aren’t able to control the cost of gas or always know when repairs might be necessary, it’s important to manage other vehicle related costs when possible. Luckily, there are several ways to save money on car insurance. Compare Rates Between Different Insurers Car insurance costs can vary tremendously between carriers. Using a service like Rates.ca allows buyers to compare multiple quotes from different insurance companies. It’s always a good idea to check prices at least once a year to make sure you aren’t paying more than you have to for car insurance. Search For Multiple Policy Discounts Most families with multiple vehicles know that insuring them with the same company saves money, but you might be able to save even more by combining a homeowner’s and auto insurance policy. It’s worthwhile to ask you current carrier if they give discounts for having multiple plans. Look For Other Potential Discounts Types of things that can translate into auto insurance discounts include Owning a home Having a good credit score Having continuous auto insurance Signing up for online statements and payments Being ...

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