How To Get Cheaper Vehicle Insurance Rates

You will get cheap quotes and end up paying the cheapest rate possible for your profile if you understand and apply certain things. I'll show a number of things you have to do if you want huge discounts that won't leave you with inadequate coverage...

1. Electronic Funds Transfer (abbreviated as EFT) is a simple way to reduce your premium. This process authorizes your bank to credit your insurance provider with your premiums automatically until you advise otherwise. This removes administrative overheads like those involved in mailing payment notices. The insurance provider passes part of what they save to you by bringing down your rates.

2. Young drivers are statistically very bad risks. More so, the younger an under-25 driver, the more they'd have to pay. That is why teenagers pay a lot more than 22-year olds.

So you'll do well to NOT place your teenage driver on your policy. You'll be made to pay very high rates if you do otherwise. Sign an exclusion form that will allow your teen driver have his or her own policy.

If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. An addition argument in favor of this is that your teen will be more willing to take measures to reduce what he or she pays. This by extension means that such a teen driver will be more responsible behind wheels since they bear the full cost of their actions.

3. The longer you stick with the same insurer the more you stand to gain for two reasons: The long term discount and accident forgiveness. Most insurers will give you a discount of about 5% if you stay with them for up to five years (some will give you once you stay for up to three.

Furthermore, if a long term policy holder files just one claim, most insurers will NOT raise their rates thereafter. These are all incentives for you to stay with them for as long as possible. The longer you stay, the more you'll save.

However, what you may save by switching to another insurer might far outweigh all the incentives you'll get depending on what your rates are and how much another insurer is ready to offer.

4. Add-ons like towing raise your premium without giving you as much value as using a towing service. Have you checked to see if your credit card doesn't already offer this as added value?

Even if yours does NOT add this kind of service, a dedicated towing service from a third party will serve you better and save you more than adding towing to your auto insurance policy.

5. You'll help reduce your rates if you always ensure you park your car in a safe place. .By safe I mean places where the risks of theft, vandalism or accidental damage are very low. I hope you also know that you'll pay less if you have a garage for your car.

And, lest I forget, if you drive out in the night do your best to have your car parked in a well-lit area. That will deter thieves.

6. You can get cheaper quotes on auto insurance today by visiting a minimum of five quotes sites. Each quotes site will require around 5 minutes or less to request quotes. (Some people present information that are not quite true about themselves. That isn't a smart move as the quotes you'll get this way won't be of any use to you).

You'll have to pick lowest auto insurance quote for you from the list of quotes you've obtained. It's as simple as that. Nevertheless you could easily save hundreds of dollars.

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