Jan
24
2008
Auto Insurance: Factors Affecting Rates
Author: Byron UdellLike life insurance, auto insurance rates are affected by many different factors and there are things you can do to lower them. Here are a few tips to help you keep your bills low:
Only get coverage you need. By eliminating or reducing coverage, you can save money on your premiums. If you have an older car that may not be worth much to replace, you may want to consider dropping your comprehensive coverage which is aimed at protecting your vehicle.
Increase your deductible. Deductibles are usually $250, $500 or $1000. Like health insurance, a deductible is what you have to pay before the company pays your claim. The higher the deductible, the lower the premium because you increase your share of the risk to insure you. It
Have a safe driving record. Safe driving is an important way to avoid accidents in the first place. A safe driving record means fewer claims and lower risk.
