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Affordable Auto Insurance Tips To Help You Save Money

Updated on December 1, 2012

Looking To Save Money With Affordable Auto Insurance?

Buying affordable auto insurance can be a daunting task. Having auto insurance is a legal requirement of driving. Automobile insurance is designed to protect you and your assets if you have an auto accident that may result in damages, loss or injuries. Insurance helps to protect you, your passengers, other drivers, pedestrians, other people's property and your car. Some auto accidents may result in law suits and auto insurance can also protect you under those circumstances.

Buying Affordable Auto Insurance

Insurance rates have skyrocketed as a result of numerous claims and huge lawsuits. You do have to make sure you have the minimum insurance requirements for your state. It is sometimes difficult to save money on auto insurance but here are some tips:

  • Compare insurance costs by getting several quotes.
  • Get a higher deductible as it will result in lower premiums.
  • Review your policy to be sure you receive all discounts that may be available.
  • You may get a discount for keeping all insurance you buy within the same company.
  • If you have student drivers on your insurance some companies offer discounts for good grades or for taking drivers education classes.
  • Having safety features on your car will reduce your premiums.
  • The more sporty and high performance your car is will result in higher premium costs.
  • Drive low profile cars that don't result in high premiums.
  • Keep your driving record safe.
  • Drop collision and comprehension coverage on older cars.
  • Pay attention to your credit score as you will pay more for auto insurance if you have a bad credit score.
  • Don't let your insurance lapse as it results in higher insurance costs.

Affordable Auto Insurance
Affordable Auto Insurance

Affordable Auto Insurance Terms

Its important to understand the lingo of your auto insurance policy to make sure you get the most from your affordable auto insurance pursuit Here are some terms that you may come in contact with:

Accidental Death Benefit - A death benefit is paid if bodily injury causes the death of you or a covered family member.

Bodily Injury Liability -This covers medical expenses for injuries the policyholder causes to someone else.

Claim -The policyholder's request for the reimbursement of a loss covered by their insurance policy.

Collision - This covers damage to the policyholder's car from any collision whether is is with another car or structure.

Comprehensive -This is coverage for damage to the policyholder's car that does not involve hitting another car. It covers damage resulting from things such as theft, fire, falling objects, floods, earthquakes or fire.

Deductible - This is the what the policy holder has to pay on a claim.

Effective Date - The beginning date of the insurance coverage.

Endorsements -These are changes to the original insurance contract such as a different deductible or an additional car or driver.

Exclusions - Situations that are not covered by a your insurance policy. The specific exclusions will be listed on your insurance policy.

Full Coverage -This indicates that you have all the minimum coverage for your state of residence.

Liability - These are covered costs to other people's property or physical person.

Limits - The maximum amount of money your insurance company will pay out for losses.

Medical Payments or Personal Injury Protection - This covers the treatment of injuries to the driver and passengers of the policyholder's vehicle.

No-Fault Insurance - A no-fault policy usually will not require that someone be assigned the blame for the accident in order for the policy holder to receive their money.

Property Damage Liability - This pays for any damage that the policyholder causes to someone else's property.

Uninsured or Underinsured Motorist Coverage - This is to pay for treatment and/or property damages of the policyholder in the event that he/she is injured in a collision with an uninsured driver.

Advice For Buying Auto Insurance

The rate on your car insurance will depend on many factors including where you live, your driving accident record, your age, your type of car and what car insurance policy options you choose. The best advice to buying affordable auto insurance is to shop around. Use the internet to get free affordable auto insurance quotes. You can also call around to various companies. When you get a quote make sure you are comparing the same options for each quote.

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    • valeriebelew profile image

      valeriebelew 

      8 years ago from Metro Atlanta, GA, USA

      good informative hub, about a frustrating issue. You really have to stay on top of this, because insurance companies will not remind you when it has been over three years since your last ticket, or accident, and will keep charging the higher rate. You usually have to change companies to get your rates back down, if you can even do it that way. They all want to charge what you were paying before. I change often. I get the lowest rate i can.

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