Saving Money on Insurance by Not Making Mistakes
You may be overpaying on their car insurance and not even know it. Don't feel like it's only you - you are not alone. Many people in New Jersey are in the same situation. After all, it's not easy to understand a lot of the information, you don't always know which agent or company is the right one, and it is not easy to figure out how to what you need.
It is always a good idea that you shop for and compare car insurance quotes once or twice a year. This could save you money, and if you use the internet you can save time doing your research.
Make sure when you are comparing policies you are comparing "apples to apples" - meaning that the policies you are comparing should show the same coverage so you compare what the prices are accurately and fairly.
When you shop and compare multiple auto insurance quotes, recognize that even if the quotes are about the same as your current policy, or lower for that matter, they can still be even lower. There may be too much coverage, or extra options tucked into the quote that you really don't need.
Sometimes it's a good idea to get high limits. Depending upon your assets and lifestyle, you may need high limits to be certain that your assets are not jeopardized in the event of an accident with high payouts. However, if you are in a situation like many people who do not have a lot of assets to protect, purchasing lower limits, which translates to lower premiums, saving you money.
As you review your quote, consult with an insurance agent before making any final coverage decisions. Additionally, you may be a member of an auto club that provides towing and labor protection, so it does not make sense to pay extra for coverage in your insurance policy, especially for coverage you already have through your auto cub. There are even some cell phone companies that are offering this type of coverage with their plans, so check with your cell phone company to see if you are covered before you purchase the coverage again through your insurance.
Carrying the lowest deductibles in order to help offset the costs associated with filing a claim does not always save you the most money. The higher your deductible, the lower your premium, so this is something to consider, especially if you are a good driver and have not been in an accident. The cost of an accident will be more expensive; however, if the damage is minor, you could be spending the same out-of-pocket amount regardless. Save on your policy, not the accident; raise your deductibles if you can afford to.
Lastly, check into the ways that you can pay your premiums and find out if there are other service charges if you pay different ways. Some companies charge more if you pay monthly because there is a processing fee.
These are just a few ways to save some money on your insurance. If you have a trusted insurance agent, discuss these and other issues with them to get the best coverage at the best price.