Having a vehicle costs a lot of money. If you do not own the car outright, you will have to pay some kind of bill each month–either a loan payment or a lease payment. On top of that, you’ll have to pay any maintenance costs like tire rotation and oil changes. That does not include the cost of any repairs. Lastly, fuel costs are an additional expense that can add up quickly, especially if you commute in Chicago. Auto insurance is a requirement and is yet another expense associated with having a vehicle. This payment should not have to break the bank. There are things you can do to help reduce the amount you pay for auto insurance.
If you have an older vehicle that is paid off, you may want to consider removing your collision coverage. This coverage pays for any damage that you cause to your vehicle. When you look at the total auto insurance plan costs, this portion makes up a lot of it.
One Insurance Provider
Instead of having more than one insurance provider, bundle all of your insurance policies together. For example, if you have homeowner’s insurance and three car insurance policies, put them all under one master policy from one insurance provider. The benefit of this is that you will get a multi-line discount. You can also reduce your payments drastically by raising your deductible. The deductible is what you are willing to spend out-of-pocket if an accident happens. Usually, the difference between having a $250 deductible and a $500 deductible can be substantial.
Get a Quote
Shopping for a new vehicle is a lot of fun and there is a lot of paperwork involved. An important thing you don’t want to skip is getting an insurance quote before you purchase a new vehicle. By getting a quote you’ll be able to find out how much it will cost to ensure the vehicle. The make, model and year of the vehicle has a lot to do with the cost of the insurance.
While driving, take your time, be cautious and safe. Safe drivers are given a better insurance premium. A good way to be a safe driver is to avoid speeding and avoid accidents. Some insurance companies will give you 5% or more off on your auto insurance plan. If you go three years without a traffic violation, they may reduce your rate then as well.
If you would like to insure your automobile, contact Great Northern Insurance Agency. Our experienced agents can help you find the best rates and coverage. Contact us at greatnortherninsuranceagency.com or at (773) 838-3900.