About Free Money Wisdom Categories: Frugal Living
Saving money doesn’t necessarily mean you have to sacrifice the things you want. Sure, by not spending that extra $50 on a belt to go with your new pants, you will have an extra $50 to go into your savings fund. But you can also save money by being knowledgeable and doing the appropriate research when purchasing life’s essential commodities.
A perfect example of this can be found when purchasing car insurance or any type of necessary insurance plans. If you know where to look, and what you are looking for, then you will find several easy ways to save money on insurance:
Reduce the amount of coverage
By altering your coverage and taking a little more of the responsibility yourself, you can reduce premiums. Research your coverage and you may find that having a higher deductible may be well compensated by the resulting lower premiums.
Get the low-risk occupation discount
Doctors, engineers and teachers are inclined to get lower rates because these occupations are considered to be low risk. You could also benefit if your job never requires you to drive at night or drive in high-risk areas.
Buy a low-risk automobile
If you’re in the market for another car, you can considerably lower your insurance premium by picking a car that has a good safety record. Look for cars that have been given awards for safety or have a high Government safety score. For example, you can lower your rate by buying a car with automatic safety belts and anti-lock brakes. Plus, if your model is unpopular with thieves, you will pay a lower premium.
Get the low mileage discount
Don’t be afraid to catch a train or bus when needed. If you can drive your car less, it may pay off in lower premiums. Is it worth paying a higher premium in order to make all those spur of the moment trips? Plan ahead and save yourself some money.
Compare insurance costs at other companies
Don’t be afraid to switch to another company if you know they can definitely save you money. However, carefully research the performance of any unknown company before making a change.
To find out how your car insurance premium stacks up, visit a car insurance comparison website such as comparethemarket.com where you can compare insurance quotes from top insurance companies. These websites can help you with automotive insurance as well as home, life, travel and pet insurance. It is quick and easy and all you need is an email address to get your quotes from the convenience of your own home.
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