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Affordable Car Insurance – What To Do To Keep The Rates Down

Author: Chris Scarborough  //  Category: Car Insurance

Throughout your life, one of the things you may not be able to avoid on your budget is auto insurance. Because laws in America are now stricter than ever when it comes to our vehicles being insured, getting the best deals on auto insurance is more important than it ever has been before. Because the competition keeps getting tougher, the industry has changed accordingly. There are new and creative auto policies on the market today. The most popular trend right now is the trend of self-insurance. Higher deductibles is the weapon that the customer can use to lower rates significantly. This would simply mean that you, as holder of the policy, are taking on a larger amount against the risk for the vehicles insured. The day of low collision deductibles is all but gone. Low deductibles aren’t worthy anymore of high premiums like they used to be. There is too much money to be saved with higher deductibles.

How To Help Young Drivers Get Lower Rates

Young drivers on newer vehicles that have a lien holder’s interest will raise the auto rate significantly. Your rates (or your children’s rates) for collisions, as well as the comprehensive rate itself, could be quite high. You could reduce the rates significantly by driving an older vehicle and removing the comprehensive and collision coverage. Another way to reduce rates for younger drivers would be to have them take and complete a certified driver’s training course. A GPA (grade point average) of 3.0 and above is usually a ticket to a lower interest rate with the insurance providers. If you reach 21, or if your kid reaches 21, expect to have lower rates available.

Senior Citizen Discounts – Most companies have discounts for people age 55 and older who are retired or work less than 20 hours a week. There are mature driving courses that can also give the senior citizen a discount.

Now if you insure your home and car with the same provider, you could also take advantage of what is called a multi-policy discount.

Tort Options – Some companies offer discounts for a limited tort option. This can be defined as your capacity to sue for emotional and physical damages. This can help you reduce your rates by 30 percent in some states. Ask your insurance company about the tort options in your state.

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