These tips will help you help you lower your Minneapolis Car insurance.
We all want to reduce our monthly expenses. The good news is that while the monthly costs for just about everything seems to be going up, your car insurance rates may have some room to come down.
The average driver can spend up to $84,000 in a lifetime on Minneapolis car insurance, according to a February 2011 posting on the Motor Trend magazine’s website – a figure that could be reduced if you know how to save on your car insurance policy.
“The average yearly auto insurance premium for Minnesota is $742, but there is wide variation around this average,” says Loretta Worters, a vice president of the Insurance Information Institute (III), an organization dedicated to improving the public’s understanding of insurance. “Many factors can affect your premium.” Minneapolis car insurance and St. Paul car insurance tends to be higher than out state MN.
Check out these ways of saving on your Minneapolis car insurance to see how you can reduce your car insurance.
#1 – Get a Variety of Quotes
Be cautious. You don’t want to do this incorrectly as most people do at least once. Some of these ads and sites make it sound like such a good idea – having agents compete, etc. It’s not a good idea. Here’s why. Entering all your details into just any site will likely get your information sold to a bunch of different agents and companies. You don’t want to just go online and start requesting quotes or start calling agents. This can be a huge pain and who wants to talk to a bunch of agents or go to a bunch of different sites and enter all your personal info all over the web? Spending valuable time trying to figure everything out and who to trust – who needs it.
Of course, we recommend using a local independent agent who represents many companies – not just one. Why wouldn’t you use the easiest way and get many quotes from an experienced local agent who you can trust. They’ll know which company currently offers the best prices for you and the area you live. It’s the easy way. It doesn’t cost more to use and expert and will likely save you a ton and you’ll have a local Minneapolis car insurance expert on your team.
#2 – Start By Getting A Quote With All The Discounts Available To You
Don’t wait until the last minute or when your policy is close to renewing. Many companies offer discounts for getting quotes in advance of your policy expiration – usually 14 -30 days before your policy expires.
Get multi policy quotes. Many people make the mistake of just checking auto or home rates and if they are good will look at saving on other lines. This is a common mistake. You will almost never get the best prices without multi policy or package discounts. Some insurers will only offer auto and home insurance as a package. Many times they are the ones with the best prices. Almost all insures will charge more for stand alone policies.
Each carrier is going to offer a variety of discounts like the Snapshot discount from Progressive, or the AAA membership discount, or the Alumni association discount, the longevity discounts – sometimes it pays to stay, some insurers may offer a discount to employees of certain companies, discount for teachers, or because you belong to certain clubs or organizations, all insurers these days offer discounts for having excellent credit – if your spouses is higher than yours – have them get the quotes – many companies will use the highest credit score. There are a ton.
A good agent will know how and where to get the discounts and apply them to your quote – but, you should still ask.
#3- Raise Your Deductible
An easy way to get immediate savings could be changing your deductibles. Don’t be afraid to raise your deductibles.
Increasing your deductible from $250 to $500 or from $500 to $1000 could reduce your collision and comp. coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Some of these lower deductibles are kind of antiquated and raising them and keeping a reserve set aside could save a lot and a reserve will keep your anxiety level down. Truth is you will likely save moire than your reserve amount of the higher deductible the first year.
The reason that higher deductibles may result in lower monthly rates is because a higher deductible means you will assume more risk, less apt to make smaller claims an insurance company will end up paying a smaller amount in the event that you file an accident claim. Higher collision deductibles seem to save the most – so, check $500 comp and $1000 collision. In MN chances are a deer or hail storm will damage your vehicle before you run in to another vehicle.
#4 – Keep Your Record Clean.
Obviously, keep your accidents and tickets down. However, some companies will check back 35 months some will go five years or some other amount of time. Some insurance companies will charge more for DWI’s for example, then others. It pays to check.
We encourage you to check the easiest way to discover if you can lower your Minneapolis car insurance call the Minneapolis Insurance Specialists Team 612-460-7796 or go to lower my Minneapolis Car Insurance site and get some quotes easy, fast, and local.
Minneapolis Insurance Specialists Team
333 Washington Ave. N. Ste. 300
Minneapolis, MN 55401
Your Minneapolis Car Insurance Experts