How To Offset Rising Gas Prices By Saving Money On Car Insurance
Gas prices are on the rise in the United States right now. Many people are feeling that pain at their local gas pump every time that they go to add gas to their tank.
One way to help offset the rising cost of gasoline is to find ways to save money on your car insurance premiums. The first way is to adjust your insurance deductible. If you change the deductible that you have in place from say $250 to $750 then you can reduce your monthly premium amount by more than ten dollars per month.
If you have a car that is worth less than $2,000 to $3,000 then you might want to consider dropping your collision or comprehensive insurance coverage. Many drivers have used cars that have not retained their values very well. It is not a good idea to pay more for your car insurance premiums than your car is worth. Most states such as Pennsylvania just require that drivers maintain liability coverage on their vehicles at all times.
Financial lenders who finance car loans usually require that borrowers have comprehensive or collision coverage. This coverage protects the car in case it becomes damaged or is stolen by thieves. If your car is not financed and you could replace it easily, then you probably would not want the coverage because it is more expensive to have on your vehicle.
]Next, consider having your mileage and driving habits checked. You can install a small device on your vehicle that can get you a discount from your auto insurance company. Many insurers offer discounts to people who are driving well and do not drive a lot of miles.
Consider asking about discounts. Many insurance companies offer discounts to people who have theft devices on their cars, have kids with good grades, or have taken defensive driving classes. If you know of any discounts that you might qualify for, then call up your insurance agent and see if you can have it applied the next time that you renew your insurance policy.
Never settle for one auto insurance coverage provider. There is a huge market and many great companies out there. If you have not heard of a company, then do your homework and research them. In some situations, a smaller auto insurer can give you a better insurance premium rate and more customized and timely customer service.
Times are tough right now but many people need to reduce the amount of debt that they have. If you have a bad credit rating, then chances are your auto insurance premiums are going to be high as well. Unfortunately, most auto insurance companies see a credit score as a litmus test regarding how good of a driver someone is.
If your overall credit score is below 650 and you have a lot of open accounts and debt then you need to take action. Pay down your oldest debts and consider closing some of your open accounts by doing balance transfers. You also need to get rid of any open collection accounts that you have. Having negative items on your credit report is a fast track to the poor house.
Review your credit report carefully and report any errors so that you can begin to formulate your debt reduction plan. If you take six months to focus on this action, then you could increase your overall score by 50 points or more and save yourself some money each month on your insurance premiums.
The final tip is to consider using public transportation. The less you drive, the less you will pay for your insurance coverage each year. You can get a discount for driving fewer miles and you will be helping the environment at the same time.
Gas prices will always fluctuate. Drivers need to be able to roll with the punches and find the best ways possible to save a lot of money on their auto insurance premiums.
