Cheap Car Insurance Ideas for a Tough Economy

By: Chris Robertson

Do you find yourself pinching pennies these days? With today's tough economy due to inflation and job losses, it's no wonder so many are opting for cheaper everything....from groceries to beauty supplies to pet products. Even saving a few dollars and cents on numerous small purchases can add up at month's end. What many don't realize is they can potentially save hundreds of dollars each year or even quarterly by shopping for cheap car insurance online.

The term "cheap car insurance" shouldn't be used just to find the cheapest price. You should search for cheap car insurance that meets all your insurance needs without sacrificing good customer service. Cheapest isn't always best, but you might be able to secure a premium that costs hundreds less than your current policy while offering the same or more coverage. Maybe you're skeptical about switching insurers. Even if you're hesitant about using a different insurer, you can still compare cheap car insurance rates online without obligation just to see what you can possibly save. It never hurts to shop around, ask questions, and study the type of coverage being offered at various premium rates.

Budgeting Made Easier

Car insurance often poses a heavy burden on finances. Many families pay their premium either monthly or quarterly. Not too many are able to pay for the year in advance to receive a discount. Quarterly bills are usually large and difficult to pay for struggling families. Car insurance may equal hundreds of dollars each quarter, causing a real panic for families who are barely scraping by.

Monthly payments are an option, but some auto insurance companies will only allow monthly payments on a direct pay basis (directly withdrawing from one's bank account on a pre-set date). This too can cause more stress for families who are already financially unstable. Sometimes the money might not be in the account on the due date, or the family might be running behind on other bills. Does this sound like your situation? No matter what payment option you prefer or the cost, finding ways to save on your car insurance can greatly reduce the burden.

More Coverage for the Money

Cheap car insurance sometimes means more, not less. Consider all the factors that help a company determine your insurance rates. Find a company that caters to people just like you. Do you have a safe driving record with a history of driver's training? Do you own a car with lots of safety features? Are you married or single? Do you have a teenage driver? Are you considering downgrading to a less expensive car? These factors and more can greatly affect your premium. Insurance companies tend to specialize in coverage for certain types of drivers. Find the one that caters to your needs at the cheapest rate.

Coverage through your current company may include only the state's minimum liability while another may offer lots more liability protection at a lower rate. The same goes for comprehensive, medical payments, and collision. Some companies offer better coverage for under-insured or uninsured motorist insurance. As you shop around, you'll notice the varying rates for different types of coverage (including various amounts paid out) among several companies. Also, keep your deductible in mind when shopping for cheap car insurance online. If you're willing to pay a higher deductible such as $1,000 instead of $250 if an accident occurs, then your insurance premium will likely be much lower. It's a trade-off with the odds (hopefully) in your favor.

Look for Discounts

Most car insurance companies offer discounts for a safe driving record, safety features on your car, good grades for teen students, drivers over a certain age, etc. Whatever company you choose, find out what discounts are offered and how much you can save with each one. Even saving $50 per year is worth the effort!

Don't Settle

As you compare auto insurance rates, don't settle for only minimal coverage. Most states require a minimum amount of liability coverage. Lenders often require liability and collision until your loan is paid in full. If you settle for minimal coverage only, you might be sorry if you do have an accident. I don't suggest that you buy all the coverage that's available, but do try to find a policy that offers more coverage for less money. Insurance rates may seem high until you have an accident and really do need to cash in on your investment. Then you'll be glad you opted for a little more coverage than the required minimal amounts by your state or lender.

Some extras to look for include: comprehensive (for theft, weather damage, accidents involving animals such as deer, and fire); uninsured and under-insured motorist (for accidents in which the other driver does not have insurance); and medical payments (extra liability in case you cause an accident that injures the other driver or their passengers).

Use online resources to compare cheap car insurance companies within your state. You don't even have to visit their office. You can simply fill out a form online, and your request for quotes will be sent to multiple companies. You'll receive immediate quotes from some, and e-mail notifications from others.

As you compare quotes, narrow your choices to a few reputable companies that offer the most coverage at the lowest rates. Saving money by finding cheap car insurance online will ease your financial woes while putting money in your pocket!

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Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies. For tips/information, click here: cheap car insurance
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