Six Ways to Get the Best Auto Insurance Rates, Male or Female

We live in a gender-neutral world? Dream on… Men pay about $15,000 more for auto insurance over their lifetimes than women do, according to CoverHound.com, an insurance shopping service. Until we adapt European Union style rules, here’s what you can do to fight back.

Choose a sensible car: It’s really not rocket science… if you’re male, 18 years old, and you are (luck enough!) to be driving a Mercedes SLR, you are going to be paying big-time to insure it.

Discounts: You might be surprised, but some insurers will reward you. If you have a good record, with minimal tickets and few accidents, you’ll usually qualify for a discount. And some insurers ‘like’ specific professions: there are often discounts for specific professions such as teachers, engineers, scientists and doctors. But you may need to keep your eyes open, and ask insurers for these, as they are oftentimes not publicized. Car alarms and anti-theft devices can also cut premiums. And swotting in school can help, too: A or B grades? You could see your premium slashed by 20%…

Zip code lottery: Ok, you can’t do too much about this one… But where your zipcode is can make play havoc with your rates. In fact one unfortunate Coverhound employee moved from San Diego to San Francisco, and watched his rate increase 100%!

You gotta to shop around: You simply must shop around every few years – especially when something significant happens to you. So you get married, perhaps have a child, or it’s time to send that kid off to college, check rates. You’ll find that insurers often have different rates and you may well get a better offer than you currently have.

Be Flexible (and nice!): Be prepared to be flexible on the type of cover you’ll accept, and you should find a deal to suit you. (Do you really need 90 days driving cover in Europe?) And a good phone manner can also work wonders as you attempt to build a rapport with the human being on the other end of the phone line, dealing with their umpteenth caller of the day… 

Try not to max out on your credit : Bad credit not only affects your credit score, but it can affect “insurance scores” according to Coverhound.

Posted by: Farra Majid on Monday, November 17th, 2014 at 6:51 pm in NEWS