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How To Slash Your Car Insurance in Ten Easy Steps - Part 1

How much did you pay for car insurance each year?

Eight hundred dollars per year? A thousand? Two thousand?

Whatever the amount you are paying now, you can reduce this amount by more than 50% by simply following a few simple strategies.

Can you cut your Car Insurance Costs by investing only 30 seconds of your time? No, it can not be implemented.

But if you're willing to spend 30 minutes today, this week or next as I will show you how to save up to $ 6,000 on your car insurance 10 over the next few years.

Okay, here we go. Grab your Car Insurance Policy declarations page (the page in your policy that all details of the reporting is a charge for you) and follow along. Make sure you take a few notes. If you do not have your policy, or can not find it, call your Car Insurance Company and get one - it will be sent to you pronto.

Strategy 1 - Make sure you receive all applicable discounts for your vehicles Security features such as:

- Front, side or head airbags - Automatic Seat Belts - Anti-theft alarm or tracking - ABS or traction control .... and much more.

Think of the safety features you have .... and write them down.

Strategy 2 - Review & Change Deductible Collision & Comp.

Most auto insurance deductibles have two - one for "collision" (you hit someone or someone hits you ") and a" comprehensive "(All other damage or loss).

For these two, have at least a $ 500 deductible - preferably a $ 1,000 deductible.

Here's why - If you are currently paying a $ 100 - $ 250 deductible, you can save up to 40% per year on your monthly premiums by $ 500. That is, If you are currently spending $ 1,000 per year on insurance, you're going to get $ 400 per year to maintain. If you jump to a $ 1,000 deductible, you could almost $ 600 extra one years to keep in your pocket.

I hear some of you say, "Wow, a $ 1,000 deductible. This is a lot of money." Yes, it is.

Sun will pay $ 1,000 a year .... with the $ 100 deductible compared to $ 400 per year with a $ 1,000 deductible.

The odds are in your favor - Go with the $ 1000 deductible.

STRATEGY 3 - Review & Change property damage liability.

Have you ever had a $ 100,000 mailbox? Car Insurance Companies must. Here's why ....

Property damage has not been harmed on a car, but "property" like a mailbox or a power pole. So, why on earth you would have $ 100,000 of coverage?

In most cases, almost 100% of all property damage claims be made with only $ 50,000 of coverage. To take a look at your policy to find out what you're paying now. And if you have little or no net worth, drop your coverage even lower - to $ 25,000 or your States minimum. You can build your States minimum by doing a Google search for 'car insurance to find the state minimum. "

Here one can see What's on your policy - many have your liability insurance, as so - 50/100/100 's listed - the first two numbers refer to bodily injury Liability insurance. The first Number is the dollar figure covered per person. The second is the dollar figure per accident.

The third Series is the "property damage liability." That's what you need to change. What does yours say?

Strategy 4 - Review & Change personal injury liability.

Although injury Insurance is a must, almost all of us end-up overpaying for the coverage we need. This type of coverage specifically covers:

- Any and all occupants of a Cars, whether for sale or someone else's - All the occupants of another vehicle - and pedestrians

Their only goal in this type of reporting is to protect just enough protection, what do you have .... In other words, your assets. And to protect your assets, you need to find out what your Net Worth - Here is a famous place for the calculation of your assets - www.kiplinger.com / personal finance / tools / networth.html?

A great way to Slash your premiums is to have no more in bodily injury liability than what your net worth. Here is a typical example of the cover, most people have - if your net worth is only $ 20,000 and you have $ 100,000 in coverage, you're throwing money away.

And if you have little or negative net worth, only the required state minimums. You need this info to the lowest Car Insurance Rates. Also here you can see, your state minimums by Googling "car insurance state minimums. "

Here is what for when they try to look to find out how much coverage you have now. As I said earlier, the Most policies today have your liability insurance, like so - 50/100/100 's set - the first two numbers (whatever they be) refer to personal injury Liability insurance. In this example, there are $ 50,000 in coverage per person and $ 100,000 per accident.

What does your policy say? Are you paying more than you Net assets? If so, change it.

STRATEGY 5 - Review & change uninsured / underinsured motorist coverage.

The uninsured / underinsured motorist coverage is a fantastic deal for car insurance .... and a lousy for you. This bonus alone can your car insurance from a few hundred U.S. dollars increased each year.

Most people think that uninsured / underinsured coverage, it is to have your car repaired when it without someone Insurance .... or someone involved with lousy insurance.

Wrong.

Any damage to your car is ready already covered - by the premium You have already paid for the collision.

First things first .... Check your policy if your paying for uninsured / underinsured coverage now. If you are, Google "uninsured motorists to see state requirements," if your condition requires it.

If it is not required by your State is to cancel.

If the state where you do not live uninsured / underinsured require cellular network to make sure that the absolute minimum. These minimum values are not tendered, change every few years and are very hard to find. So, here's how you handle it.

Do a Google search for your state Department of Insurance, go to "Contact Us" page you will find a phone number, then call and ask what are the minimum.

Do not try it . Search Determine the minimum set is almost impossible on most state web sites - they have it buried so deep you'll never find it. Call your State Department of Insurance.

I know it's a bit of a dispute over the info for yourself. But relying on the insurance to give you the right information is not very smart.

More .... Part 2 of "How To Your Car Insurance in Ten Easy Steps Slash."

About the Author

Tom O'Leary is an Automotive Portfolio Analyst based in Cincinnati, Ohio and Publisher of www.mynewcarpurchase.com, a consumer web site that assists with buying a new or used car,
car insurance
strategies and auto loans.