| By :
Marilyn Katz
Are you jumping through hoops to save some cash so you can cut debt, build a retirement fund, or pay for education? Lots of us are turning to sales, coupons, or doing without. But there may be a simple way to save a lot of money on auto insurance premiums that will not force us to lose anything. Lots of vehicle owners have had the same auto insurance company for years, and they figure they get some benefits out of this. Some insurers do have loyalty programs which make them attractive to stick with. But most of us can benefit by comparing plans and premiums every 12 months. Insurers are always looking for ways to be more competitive so they can grab a bigger market share! Experts tell us to compare insurance rates every year or so. This is because things change in your own live, but also because the insurance market changes! In order to make sure that you are getting the best possible deal, you should take the time to compare deals and policies every 12 months or so. Have you put off comparison shopping because you think it will take too long. A few years ago, it was hard to get the information you needed to compare companies. You would have to drive around to visit a variety of insurers. This could take days. These days, you have an advantage. You can use the web to shop, get quotes, and sometimes, even purchase and print a policy! I am always shopped because vehicle owners seldome try to find the best deals. Many of them do not realize these deals even exist. This is because they have not taken the time to look at their coverage or compare quotes for a long time. Many families find discounts that add up to 20% to 40%. If your family insurers multiple drivers, and maybe even has homeowners insurance with the same company, this saving can be life changing. Consider some family with three drivers and three cars. If they pay to cover a teen or young adult, premiums could be three to four hundred dollars. They could even be more. Could a 30% discount be a budget saver for you? If your family pays $300 a month, that discount could save you a hundred dollars a year. When you multiply that out over a year you see it can save $1,200! I never would encourage anybody to give up valuable coverage in order to save a few dollars though. Some insurers actually try to get people to drop some coverage in order to cut premiums. But that could be a bad plan if you actually ever need to make a claim! Some vehicles are just cheaper to insure than others too. If you are shopping around for a new or used car, it is prudent to consider the cost of insurance when you are figuring out how much to budget. Again, you can consult the internet to compare quotes before you ever make the final deal for the new vehicle in your family!
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