Auto Insurance – 5 New Ways To Save Money On Car Insurance

Here are five ways to save in the new online economy:

Shop Online with Several Auto Insurance Companies
Auto insurance companies use a lot of the same ranking factors to set premiums costs, but each one is different. Some companies are great if your driving record is prefect. Others are best for drivers with tickets or accidents. A site like QuoteWizard.com can help you compare auto insurance rates and find the right provider for you.
Find a Smaller, Specialized Insurance Company that Fits Your Needs
Lately, the national, big-name underwriters have shifted their higher-risk coverage into small subsidiary brands. Also, most states have smaller, local insurers that specialize in writing higher-risk auto insurance polices. Their rates are far more competitive that the national brands if your driving record is less than perfect. When you shop around for auto insurance in your area, you'll get an idea of what smaller, local options are available.
Consider an Online-Only Auto Insurance Company
It started with online-only savings accounts. Banks realized that by offering consumers a savings account that was handled completely online the bank could save dramatically on overhead costs. This savings was passed on to consumers by way of higher interest rates. Online savings accounts typically yield about ten times more than their brick-and-mortar counterparts. Currently, new auto insurance companies are beginning to follow suit. By eliminating the costs associated with operating storefronts, online auto insurance companies are able to offer significantly cheaper premiums to consumers that don't mind conducting their insurance business over the internet and on the telephone.
Purchase Less Auto Insurance
If the sagging economy has you scrimping to save money, you might want to reduce your auto insurance levels. It's risky to only purchase your state's minimum auto insurance liability coverage, but dropping parts of your policy that you don't need can save you money. If your car has lost significant value since you purchased your policy, consider eliminating comprehensive and collision coverage.
Check Insurance Rates Every 6 Months
Now that it's so simple to find the best auto insurance rates online, you should make a point of getting a fresh set of quotes about every six months. Gone are the days of signing off on another year of the same overpriced coverage just for simplicity's sake. Major life changes like moving, purchasing or selling a car, getting married, or paying off your home are also excellent checkpoints.

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