Planning to Buy a New Car? Here’s How to Keep Your Insurance Rates Down
Cars are absolutely essential to the American way of life. Without a reliable public transportation infrastructure, our cars are the single best way to get to and from work, to sporting or music events, and to that big date we’ve been looking forward to all week. That’s why, according to LA Times, there are more than 250 million cars on American roads.
Unfortunately, despite the convenience of owning our own vehicles, it isn’t without its downside, specifically when it comes to extra costs. Gas, repairs, maintenance — all of these things are unavoidable. Insurance is a necessary part of servicing your car without paying an arm and a leg, but even that can be expensive. If you’re thinking it’s time to go new car shopping but you don’t like the idea of additional high insurance payments, these tips for reducing your rates can help.
How to Save on Insurance for Your New Car
- If You Can Afford It, Increase Your Deductible
- Ask Yourself What You Really Need
- Consolidate All of Your Insurance Plans Under One Provider
- Choose a Smart Kind of Car
As BankRate suggests, if you want to get a great insurance rate after picking up your vehicle from the new car dealership, get a plan with a higher deductible. Keep in mind, this means you’ll have to cover a higher portion of repairs should anything ever happen, but if you can afford that possible outcome, this can be a great way to keep your annual insurance costs quite low.
If you decided to buy a car from a used car dealership, it might not be in your best interest to get comprehensive car insurance, as QuickandDirtyTips.com details. You’ll obviously need to get the type of insurance that’s mandated in your state, but beyond that, what is covered and how much you pay for it is up to you. Catastrophic car insurance, for instance, will only cover your car in the event of a natural disaster or a true catastrophe that renders your car useless. Beyond that, you’ll be on your own, but your bills will be very low.
As Kelley’s Blue Book details, there are few simpler ways to keep your insurance rates low after new car shopping than consolidating your insurance plans. Most insurance providers will give you a discount across the board if you subscribe to home and auto coverage. The amount of discount varies, so you’ll need to discuss this with your provider for all the details.
The single best way to reduce your insurance rates? Be smart about what you choose when new car shopping. If you buy a turbo-injected racing coupe or a bright red vehicle that will attract unwanted attention when you’re going a few miles per hour over the speed limit, don’t be surprised when an insurance company slaps you with higher premiums.
Do you run new or used car dealer ships, or do you work as an insurance agent? What tips would you give Americans looking to save on insurance after new car shopping? Let us know your thoughts in the comments below. More research here: hudiburgnissan.com