- PPF Points
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I recall being astonished by the high cost of the insurance premium when I purchased my first vehicle. I simply accepted the rate and paid it because I was ignorant at the time. However, I've discovered over the years that you don't have to accept the first quote you receive because auto insurance rates are negotiable and you can frequently get a much better deal with a little work.
I always start by shopping around. Although it may seem simple, most people simply continue to use the same provider year after year without researching what other options are available. Before my policy renews each year, I always compare rates from at least three different insurers. I've saved hundreds of dollars over the years simply by switching providers who offered lower rates for the same coverage, and websites like The Zebra and NerdWallet make this very simple.
I've also found that calling my present insurance provider and directly requesting a lower rate has been effective. When I bring up the lower quotes I've received from rival businesses, they are typically open to working with me to match or even surpass those rates. If you give insurance companies a reason to negotiate, they will typically be willing to do so because they want to keep your business.
Additionally, I discovered that raising my credit score had a discernible impact. Many people are unaware that when determining premiums, insurers look up your credit. My rates decreased after I improved my credit. Bundling your insurance also helps; I received a good discount from the same company when I got both my renter's and auto insurance.
I adjusted my coverage and deductible. I drive an older car now, so I didn’t need comprehensive coverage like I did when the car was new. I also raised my deductible a bit, which lowered my monthly premium. Just make sure the deductible is still something you could realistically afford to pay in case of an accident.
Negotiating better car insurance rates isn’t hard, but it does take a little time and effort. With some smart comparison shopping, a phone call or two, and a few tweaks to your policy, you can save a lot without sacrificing coverage. It’s one of those adulting tasks that’s absolutely worth the time.
I always start by shopping around. Although it may seem simple, most people simply continue to use the same provider year after year without researching what other options are available. Before my policy renews each year, I always compare rates from at least three different insurers. I've saved hundreds of dollars over the years simply by switching providers who offered lower rates for the same coverage, and websites like The Zebra and NerdWallet make this very simple.
I've also found that calling my present insurance provider and directly requesting a lower rate has been effective. When I bring up the lower quotes I've received from rival businesses, they are typically open to working with me to match or even surpass those rates. If you give insurance companies a reason to negotiate, they will typically be willing to do so because they want to keep your business.
Additionally, I discovered that raising my credit score had a discernible impact. Many people are unaware that when determining premiums, insurers look up your credit. My rates decreased after I improved my credit. Bundling your insurance also helps; I received a good discount from the same company when I got both my renter's and auto insurance.
I adjusted my coverage and deductible. I drive an older car now, so I didn’t need comprehensive coverage like I did when the car was new. I also raised my deductible a bit, which lowered my monthly premium. Just make sure the deductible is still something you could realistically afford to pay in case of an accident.
Negotiating better car insurance rates isn’t hard, but it does take a little time and effort. With some smart comparison shopping, a phone call or two, and a few tweaks to your policy, you can save a lot without sacrificing coverage. It’s one of those adulting tasks that’s absolutely worth the time.
