How to Negotiate A Better Rate on Car Insurance

Owning and running a car can be an expensive business.  Maintenance costs, repairs, taxes and insurance can all add up, on top of the initial cost of the car itself or the monthly car loan repayments.  While it is true that you may not be able to alter the amount of taxes you are required to pay or be able to protect against the cost of repairs, you may be able to save some dollar here and thereby lower your insurance rates.

As a leading provider of Auto Insurance in South Florida, we want all of our clients to be able to save money where they can, without compromising on their cover. Here are our top tips on negotiating a better rate for your car insurance today.

1-Clarify What Exactly You Are Paying For

All too often we see clients paying extra for coverage that they don’t really need. Here in Florida, you are legally required to hold Bodily Injury coverage up to $10,000 per person and $20,000 per accident and Property Damage coverage up to $10,000 per accident. There are additional coverages that you can add to your insurance cover, some of which you may have been recommended, but are actually not necessary for you.

The best way to double check what you are paying for is to speak to a professional insurance agent who can break down your cover bit by bit. Be sure to advise them of any coverage that you do not want, and have the price adjusted accordingly.

2- Increase Your Deductibles

Before your insurance policy kicks in, there will be certain pre-determined costs that you will need to pay out of your own pocket.  Most people keep their deductibles as low as possible to ensure that they don’t have to find large upfront fees should an accident happen.  But by increasing your deductible from $200 to $500 for example, you could save anything between 15 to 30 percent on your insurance rates, and these savings could be even higher if you are prepared to increase your deductibles even further.

Speak to your insurance agent and have them recalculate your options if you decide to increase your deductibles to see how much you can save.  If you have many years of safe and accident-free driving behind you, this could be a good way to lower your monthly costs.

3- Ask for multi-policy discounts

If you need to purchase home insurance as well as your auto insurance, or any other kind of insurance for that matter, get your provider to give you a discount for being such a loyal customer. You may find that your insurance provider is able to give you a good discount if you place more than one product with them, or even add more than one vehicle to your auto insurance policy.

4- Ask About Other Discounts

Many of us just blindly accept the prices we are quoted without actively asking for a better discount. A couple of questions could save you plenty of cash if you are bold enough to ask the question. For example, many companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years, or you may be able to get a discount if you took a defensive driving course.

When you talk to your insurance provider, ask them if they offer discounts for any of the following:

  • Having an antitheft device fitted
  • Being a college student who is away from Home
  • Having a good credit record
  • Having a low annual mileage
  • Insuring more than 1 car
  • Having no accidents in the past 3 years
  • Having not received any moving violations in the past 3 years
  • Being a student driver with good grades

There are always discounts to be had, and most insurance providers want your business, so don’t be afraid to tell them about what an awesome driver you are.

Auto Insurance from Insurance Simple

If you are looking for cost-effective auto insurance in Florida, talk to our friendly agents today.  We can help find the perfect package for you.  Call us at 561.288.1360 to find out how we can help you.