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Depending on your carrier, raising your deductible might not lower your premium by that much either. With some
policies it may be better to consider other ways you can save
money, such as installing anti-theft devices or safety devices such as
supplemental airbags, and so on.
A common trick that many people employ when it comes to lowering the cost of their
is to raise the deductible, that is, the amount you would be
liable for in case of an accident, vandalism, and so on. Raising it
from the standard $500 rate to $1000 can lower your premiums by a
hundred dollars or more every six months, depending on your carrier.
But should you just do this automatically, thinking that you'll save
big dollars? What are some cautions to think about?
For one thing, ask yourself what kind of driver you are. Raising your deductible to lower your
premiums by a hundred dollars or so isn't going to save you
anything if you get in an accident and need to come up with that
additional $500 to get your car repaired and meet your deductible. Be
honest; if you're a very aggressive driver and you have a history of
tickets, this might not be the wisest thing to do with your
policy.
Depending on your carrier, raising your deductible might not lower your premium by that much either. With some
policies
it may be better to consider other ways you can save money, such as
installing anti-theft devices or safety devices such as supplemental
airbags, and so on. And of course the best way to keep your
policy affordable is to drive safely.
The more
tickets and accidents you have, the higher your rate will be no matter
what. Driving slower saves you gas and wear and tear on your car, and
can lower your premium overall, so you definitely have enough reasons
to consider slowing down while behind the wheel.
There's no mistaking the fact that
can be very costly today, and many people are looking for
ways to reduce that cost however they can. Some are tempted to drop
their coverage altogether, reasoning that since they rarely get pulled
over then they'll never get caught. While this line of thinking is
appealing to many, keep in mind that
is not some luxury and it's not available "just in case" of an accident.
It's
actually the law that you carry some type of coverage for your vehicle,
even if that coverage doesn't include theft, vandalism, or collision.
The law requires that you carry coverage for another person's injury or
property damage in case of an accident, and there's no getting around
this.
Failure to have at least this minimum amount of
can mean fines and even jail time! Additionally, if someone
was to be injured or their property damaged because of your negligence
and you didn't have this coverage, you could lose your house and any
other assets you may have. |
