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A recent study on auto insurance has revealed a steady rise in the rates. But this does not mean that one would drop the idea of getting his car insured. It is often seen that different companies at different rates provide the same coverage. So, Jeanne Salvatore, vice president of consumer affairs for the Insurance Information Institute (III) in New York suggests that one should carefully “shop around” to look for multiple quotes to facilitate comparison.
One should use multiple tools like online quotes, telephone calls to the carriers and getting references from friends in order to arrive at a decision. According to Salvatore, one can cut down his insurance bill by raising the collision deductible. Bumping up the deductible can lead to a savings of 15- 20% on collision coverage costs. But one has to make sure that he can afford the deductible when a need arises during an accident. Again, one would save a lot if he drops comprehensive coverage on his older vehicles.
Salvatore also advises people to buy those cars for which people can afford insurance. The costs on insurance depend on factors like repairs, probability of theft and the vehicle’s overall safety record. There are many cars with added safety features like anti-lock brakes, air bags, and anti-theft devices on which many insurance companies provide discounts on policies. Covering multiple policies and drivers under a single policy can also provide discounts. AAA memberships and defensive driving courses can also be reasons behind the award of discounts.
A clean driving record has proved to be a cause behind a discounted insurance policy. It has also been found out through researches that persons with a good credit history are more likely to take precautionary measures before any potential problem arises that might lead to expensive claims. It is better to consider a number of options before purchasing a car insurance policy. This comparison can just be a piece of cake if conducted online.