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5 Ways To Lower Your Auto Insurance Cost In 2020

Let’s have a look at some of the best ways to have a low auto insurance cost

There are certain tips and tricks that will help you negotiate a lower car insurance cost. If you keep these pointers in mind and play your cards right, it will surely help you achieve a lower insurance cost.

1. Explore options:

In today’s market, there is a stiff competition between insurance carriers who offer their premium services when it comes to auto insurance. When buying auto insurance, it is important to look for a company that is financially stable, has a good claims management system and offers a variety of services alongside insurance. By looking at your options, you can find the right insurance carrier that suits your needs and doesn’t burn a large hole in your pocket.

2. Remember the Power of Negotiation:

While looking at different auto insurance policies offered by multiple carriers, you can use the difference in rates to your advantage when dealing with the agent. Understand that you won’t magically get a lower auto insurance rate just by asking for it but if you address the better deal you’re getting from a rival, the insurance carrier is bound to come up with an even better offer.

3. Increasing Your Deductible:

The deductible that you pay before your insurance kicks in has a major part to play in determining the amount you will receive in a claim. By increasing your deductibles, you can lower your insurance costs substantially. However, make sure you have enough money to spend on an increased deductible. If you are struggling to come up with money to pay for your insurance, then an increased deductible will do more harm than good.

4. Extra Security Measures And a Good Track Record:

The more secure your vehicle is, the lesser your insurance cost will be. This means if you invest in measures like anti-theft devices, better exteriors for your vehicle as well as having a great track record when it comes to your driving, your auto insurance cost will go down significantly. If you have never been involved in an accident and if the mileage count in your vehicle is low, it will also serve as additional measures to bring down the insurance cost.

5. Tying Auto Insurance With Home Insurance:

Another way to bring down auto insurance costs is to go to the same company that you have home insurance with. In case you do not have home insurance, you can ask the insurance carrier to provide you with one alongside auto insurance. During negotiations, this bundle will prove to be cheaper in the long run as compared to a standalone auto insurance.

Keeping these pointers in mind, you can lower auto insurance costs and choose a plan that suits your needs perfectly.