7 Super Easy Steps To Slashing Your Auto Insurance Quote

Here's 7 super-easy steps to get the best possible auto insurance quote

* Multiple Quotes

You must get multiple quotes - get on the internet and look for multiple insurance quote services.. It's a snap to pull together some great comparison quotes.

Just Remember to gather different types of quotes. For instance, get one from a direct-sell insurance company; another from an offline broker who keeps an extensive list of quotes; and a couple from free internet quote services.

The cheapest insurance may not mean the best. Will they pay you if you file a claim? Are they known for being financially secure? What is their reputation with consumers and consumer agencies? Talk to your family and friends, and also look for online insurance reviews.

* Different type of car

Insurance costs vary greatly depending on the type of car. Obviously, that $100k exotic sports car is more expensive to insure than your average economy vehicle. If you're planning to buy a new car, you'd better check insurance rates before you buy. I once had my heart set on a beautiful, high performance, highly tuned Pontiac sports car.

Good thing I checked the insurance rates before I bought it, because it turned out that I couldn't get insurance. Every broker, every insurance company flat out turned me down because I lived in a high car-theft area. So I had to put the car of my dreams on a shelf until I moved up-town.

* Age and Value of Car

Maybe you're buying a used car ? Maybe your car was valuable a few years ago, but now values much lower ? So why pay for over-priced auto insurance? In particular, do you still really need full comprehensive coverage?

A good rule of thumb is to multiply your insurance premium by 10, and then compare that figure with your car value. So if you get quoted a $1000 premium but your car is worth less than $10,000, you might want to decide if comprehensive represents a good value. If you drop collision and/or comprehensive coverage, you should save quite a bit.

* Higher deductibles (excess charges)

Most auto insurance companies use deductibles to keep the policy costs down. Deductibles, or excess charges, show what you pay out of pocket before your auto insurance kicks in. Try asking for quotes with different amounts of deductibles, and then see how your quotes vary.

Most internet quote forms have a box where you can choose a preferred amount of deductibles. Ask your broker for his recommended amount. For example, going from $250 to $500 deductible can cut down your insurance costs by 20% or even more. Go to $1000 and now you save a ton of money. But keep in mind that you must pay the deductible if you need to file a claim!

* Multiple Insurances

I guess this might come under the 'Get Multiple Quotes' heading, but it's still worth mentioning separately. You usually get an break on your premiums if you buy multiple policies with the same company.

This could mean multiple vehicle policies, or homeowner plus auto insurance. Either way, it's worth checking into multi-policy discounts.

* Low Mileage

These days, more and more people are working from home. This means no more commuting, less business trips and ultimately lower mileage on your car. Maybe you do commute to work, but you car pool?

Either way, check into low mileage discounts.

* Good Driving Record

Having a good driving record always lowers your auto insurance amount. Keep your driving record violation and accident free. Don't drive too fast, don't drive recklessly, and you'll save more money (among other benefits !)

* Extra Bonus Step

Here are some more important things to consider. Install a good anti-theft device in your car. Sign up for an advanced driver training course. Use your daytime running lights if you have them. If you happen to be a college student who is away from home, consider adding yourself to your parents policy.