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Insurance QuotesWhen it comes to saving money on car insurance, there are plenty of tips and advice out there, not all of them accurate or even a wise decision. To really lower your insurance quotes and rates without giving up coverage or the service you want from your insurance company, follow these insider tips. They are the top secret and incredibly easy ways to pay less for auto insurance.

How You Pay Your Bill Matters.

A lot of people pay their car insurance in monthly installments to take some of the immediate pressure of paying a large sum up front off the budget. But what they may not realize is that paying in full can actually save you money. First off, there are the monthly fees that most companies charge you for paying in installments. But there could be even more savings than that when you pay in full.

Many insurance companies will actually offer a discount to people who choose to pay the entire term up front. Because it saves them the billing process and ensures they have the full premium, they will often reduce the rate as an incentive. Ask your insurance company if they will take a percentage off your bill if you pay in full.

Don’t Reduce – Raise.

Reducing your coverage seems like an easy way to save money, and certainly it is a means to an end. Unfortunately it is also a big risk to take. If you don’t have enough coverage – or the right coverage – when there is an accident or other incident requiring a claim, you will find it could cost you a lot more than you ever saved on your insurance.

On the other hand, there is something you can actually raise on your insurance policy and save money – the deductible. The deductible applies to collision and comprehensive coverage, and is the portion that you are expected to pay out of pocket when you make a claim against either of those coverages on your policy. While many people balk at increasing that amount, the important thing to remember is that the odds of needing to pay that amount are in your favour – if you are a good driver. You only pay the collision deductible if you are at fault in the accident, and comprehensive is for anything other than an accident. You may save enough to make up the difference very quickly if you carry a higher deductible.

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