How to Save Money on an Auto Insurance Policy
Few things in life are less fun than shopping for auto insurance. Large auto insurance companies may try to make you think it is easy through their entertaining commercials, but don't believe them. Shopping for an auto insurance policy can be an exhausting way to spend a day.
Of course, consider yourself lucky. There was a time when if you needed to buy auto insurance, you had to endure a salesperson coming to your home, trying to sell you on every product his company sold. There aren't a lot of insurance salespeople who work door-to-door anymore, but that doesn't mean shopping for insurance is any more bearable.
If you are looking to save money on an auto insurance policy, the first and best place to start is the internet. Use the data available online to compare rates and benefits of various policies without ever seeing a salesperson.
What You Will Need
In order to compare auto insurance policies in Minnesota, you need to make sure you aren't comparing “apples to oranges”. In other words, make sure every specification you ask a company to quote on is exactly the same. There is no use in getting a quote from one company for minimum coverage and comparing that to a company that is quoting on a secure policy with a low deductible. So, figure out just what type of insurance you need before you begin getting quotes.
One word of caution: If you are concerned about your credit rating, you may want to reconsider asking for too many quotes. Most auto insurance companies will run your credit when you ask for a quote, and too many requests for your credit can bring your credit score down. If possible, try to obtain quotes from companies without giving them your Social Security number. Once you have narrowed your search down to two or three companies, then go ahead and allow them to run your credit.
How to Save Cash
There are several ways to save money on your insurance. It takes time and it takes a little work, but you can come away with considerably more money in your pocket.
- Try and keep all of your insurance with one company. By bundling your auto and home policies, you will save more money than by having them with different companies.
- Ask for discounts. Most auto insurance companies have a myriad of discounts available for the asking. If you are a veteran, in the military, a student, a police officer or firefighter, a teacher, or a civil servant, there is probably a discount for you. Ask the companies what discounts might fit your background, education, or employment.
- Price your insurance before you buy your car. Just because your car is plain and has four doors does not mean it will be cheap to insure. Talk to insurance companies to find out what autos are inexpensive to insure BEFORE you make the purchase!