Unfortunately, many of us have experienced tough financial times due to lay-offs, downsizing, or just expected bills that come from daily life. During these situations, if you let your credit score decline due to a missed payment or high credit card accounts, your car insurance premium can increase. In fact in some situations, a credit score can actually make your car insurance premiums almost double. There are a few factors that can help you get the most for your money while still having the coverage that you need.
Know Your Credit Score
Get an up-to-date credit score. When obtaining a current score, you are able to check over the report to see if there is any misinformation. Address any issues that may have affected your score in a negative manner especially those that are not correct or have not been removed from your report once addressed.
Prepare Your Information
Make certain that all your details are up to date prior to comparing car insurance programs. Also, know all your details about the vehicle that you plan to insure. Does your vehicle have anti-lock brakes or air bags? Or any type of anti-theft alarm system? Many insurance companies will offer discount for these types of features.
Use your current or past car insurance premiums as a way to guide you with the type of policy you would like to have with a new company. Be prepared to explain past driving accidents, tickets or any other claims that were made to your car insurance policy. At the same time, try to avoid situations that will cause you to get a ticket. A clean driving record means a lower premium.
Increase Your Deductible
One way to lower your payments is by increasing your deductible. If you have to make a claim, the out-of-pocket costs for you would be higher. However, your premiums may be lowered which can save you money unless a claim needs to be made.
Enroll All Your Insurance Needs into One
Many insurance companies will offer discounts if you are willing to have all your insurance needs met by them. If you currently have house insurance or rental insurance, ask about discounts if you switch all your policies to one company.
Search for rates online. Many insurance companies will allow you to compare rates which will allow you the opportunity to pick the right one for your needs and current situation.