With the economy still struggling to recover, many families are looking for ways to cut their monthly expenses down. One often overlooked area is your Raleigh car insurance policy. If you got your policy several years ago, chances your auto insurance rate quote is higher than it should be. Following a few simple steps could save you hundreds of dollars a year.
Your car insurance premium is based in large part on the kind of car you drive. While it’s not surprising that a flashy sports car would cost more to insure than a lowly compact, you would be surprised at how even small differences between models can have a big impact on your rate. For instance, Toyota Corolla insurance can vary according to whether you have a model that has two door or four doors. The historical insurance costs for every vehicle in the U.S. is maintained by the Highway Loss Data Institute and if you are thinking about buying a new car this is an excellent resource to check.
If you own an older car you can reduce your insurance costs by eliminating your collision coverage. This coverage often adds hundreds of dollars a year to your policy cost. If your car is not worth much there’s no point in paying this extra expense each year. If you do damage your vehicle you will have to pay for it yourself, but the money you will have saved in not getting collision coverage could easily offset that repair cost.
Perhaps the number one tip for saving money on your auto insurance is to get rate quotes from multiple carriers. Like any other industry, the insurance business is a competitive one and companies are vying for your dollar. With the many tools now available on the Internet there is no reason not to get multiple quotes.