Originally published May 2 2005
Auto insurance policy costs can be contained with smart strategy
by Mike Adams, the Health Ranger, NaturalNews Editor
Many consumers are easing the burden of owning a car in times of high gas prices by shopping for better deals on automobile insurance. Auto insurance is one of the largest components of vehicle ownership cost. An individual's credit rating is a factor in computing insurance costs outside of California; get your credit score up and your insurance costs go down. State driving records are checked by insurance companies - make sure that yours doesn't have any incorrect information. Similarly, check accident reports to ensure that any accidents you were involved in are reported correctly. Look for packages with high deductibles - that helps to keep premiums low.
Consumers are countering rising gasoline prices and other vehicle operating costs by capitalizing on lower auto insurance rates, according to Answer Financial Inc., the nation's leading independent insurance agency.
With more than 100,000 in-force policies across all 50 states, the Los Angeles-based company has observed an increase in consumers shopping online for policies and pricing across its own and its competitors' rate cards.
Check Credit Rating - In all states except California, an individual's credit rating is a key factor that affects auto insurances rates.
Check Motor Vehicle Report - Like credit reports, state driving records may include inaccurate data on personal driving records, which are strongly considered when issuing respective individual and family auto rates.
In addition, tickets, traffic school credit, and accident fault are sometimes not accurately reflected in state data, costing consumers hundreds or even thousands of dollars.
Accident reports affect insurers' decisions and rates on a cumulative basis particularly if the driver has tickets or accidents down the road.
Separately, while deductible amounts initially save drivers in the event of a quick claim, they cost consumers more in the long run due to higher premiums.
5. Look for Package Rates - In addition to multiple-vehicle discounts, consumers often save substantially by packaging all their insurance policies including auto, home, and personal liability together with one company.
7. Take a Driving Safety Course - Many insurers will cut rates for drivers who take an approved driving safety course.
Make sure that you've registered for a course recognized by your carrier, which will not only cut your rates but likely save in ticket fines and reduce your risk of bodily injury on the road.
8. Don't Forget Car Pool Credit - Many auto carriers drop premiums if you car pool to the office, especially if you drive more than 10 miles roundtrip.
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