Chicago, IL (Vocus) July 22, 2009 -–
As more people drop their automobile insurance coverage due to the lagging economy, insurance companies increase their rates to increase their profit margins. This means higher rates for those who continue to pay their vehicle insurance rates and greater risk of being in an accident with an uninsured driver. However, there are ways drivers can find cheap automobile insurance and reduce their risk. CarWizard.com offers way on how families can find cheap automobile insurance in a tough economy.
As rates increase, drivers are often left with three options; renew their existing automobile insurance at a higher rate, cut down on the amount of coverage on the policy to keep the rate lower, or shop around for cheap automobile insurance.
Not only is it dangerous to drive without vehicle insurance, but it is also against the law in many states. With it getting harder for families to make ends meet, paying a higher rate is not always feasible. However, dropping coverage in certain areas can mean a bigger hit in the long run. If a person is involved in an accident and their insurance does not cover all that is necessary in damages, the driver can be sued and lose personal assets.
The best option is to shop around for cheap automobile insurance rates. It is the quickest and easiest way to save money on car insurance. By simply going online to a free insurance quote site, drivers can enter basic information to request free automobile insurance quotes. Typically, up to five local insurance agents will contact the insurance shopper with free quotes. The agents will know they are competing with other local insurance agents, so they will offer the most complete coverage at the absolute lowest possible rate in order to win the new client.
All the insurance shopper needs to do is compare the plans and prices that are offered and choose the one with the best coverage at the lowest rate. Policies should be examined closely as the lowest price doesn’t always mean the best deal. If a driver does not have adequate coverage and is involved in an accident, they could pay out of pocket for damages.
Shopping around to get the lowest rate and the most complete coverage is the quickest and easiest way to save on automobile insurance. There are other ways drivers can continue to cut costs once they’ve chosen a plan. First, ask the agent about what discounts they could qualify for. These could include good-driver discounts, good-students discounts, discounts for certain professions, and more.
Drivers can cut the amount of time spent behind the wheel to save on their policy. By car pooling, walking and taking public transportation more often, drivers can save by reducing the amount of miles they are driving. In addition to the amount of driving, the type of car being driven is also important. Smaller, cheaper and safer cars cost less to insure, and cost less to fill up the gas tank.
With so many drivers dropping their car insurance coverage, a great way for insured drivers to protect themselves is to include uninsured motorist coverage to their policy. This is typically very inexpensive but can save a lot of time and money in the long run if an accident with an uninsured motorist occurs.
The quickest and easiest way to save on your automobile insurance is to request free quotes from multiple local agents. Carwizard.com has one of the largest network of agents available to offer the most complete car insurance coverage at the lowest possible rate. Get your free quote today!