Auto insurance rates seem to be headed upwards, especially in states which have passed laws that will require motorists to carry higher coverage limits. In addition, the cost of health care is expected to increase which means more money being paid out by insurers for bodily injury claims and may lead to higher premiums for automobile coverage; consumers must be proactive in ensuring that policies remain affordable.
Individuals who may reside in a state which will be increasing coverage requirements should prepare for an increase in premiums; it is no secret that with more protection needed, the higher the cost. The best approach that these motorists can take to keep rates down is to compare quotes ahead of time based on the new limits to ensure the cheapest car insurance policy is found and that their current carrier would still be the most affordable.
The cost of health care is expected to rise as well and this may reflect a motorist’s premiums at the time it comes to renew a policy. Be sure to compare the cost of coverage with other insurers if a premium increases before renewing; there may be a chance that another company may be able to offer a cheaper rate for the same product.
Consider adjusting deductibles if a vehicle is insured with comprehensive and collision; the deductible chosen may directly affect the amount of the premium. The office of the Delaware Insurance Commissioner suggests, “Take the highest deductible you can afford on collision and comprehensive coverage. A higher deductible will mean lower premiums. But remember that you will be responsible for the deductible amount if you have an accident.”
Source: http://www.delawareinsurance.gov/auto/default.shtml
Consumers have a lot of options when it comes to automobile coverage and who they purchase a policy from and should take advantage this fact where possible. Motorists can visit http://www.onlineautoinsurance.com/ for free quote comparisons and helpful tips to reduce premiums.
