Negotiating a Lower Car Insurance

Negotiating a Lower Car Insurance

So, you’ve decided to shop around for car insurance, and you don’t particularly like the quote(s) you’ve been given. The good news is that car insurance quotes are almost always negotiable! You can rest assured that the rates you’re given by most insurance companies can be molded to better suit your finances. The key is knowing what to say and the right time to say it. These are four steps that will help you negotiate a lower Youi Car Insurance quote that will make both you and your wallet happy.

1. Use Other Quotes to Your Advantage

Let’s look at this realistically. The last words any insurance company representative wants to hear are, “I’m choosing [competitor insurance company] over you.” The idea here is to use that threat to your advantage. If you have your eye on a specific insurance company and policy, but you don’t care for the associated car insurance quote, take some time to shop around for similar policies from other insurance companies. The idea is to find incredibly similar policies offered for better rates. Make a list, and present it to the insurance agent who represents the original insurance company. The chances are high that he/she will be willing to match the quotes you’ve presented if the specifics of the policy also match up rather evenly.

2. Inquire About Discounts

Many people achieve jaw-droppingly low car insurance quotes on their car insurance by solely making discounts work to their advantage. If you qualify for enough of them, you can reap massive savings. For this reason, you should ask about discounts offered for having safety features on your vehicle, completing courses in defensive driving, your particular employer, etc. Qualifying for enough discounts can net you a pretty nice heap of savings on your car insurance quote.

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3. Move Onto the Deductible

The deductible on your car insurance policy is another highly negotiable item. The deductible is what you agree to pay in the event of an accident before the insurance company will cover any expenses. Often times, the deductible will, by default, be considerably low on a car insurance quote in order to somewhat pad the rate. If you agree to raise the deductible (or raise how much you agree to pay in the event of a mishap), your rate will noticeably come down. Now, bearing this in mind, you shouldn’t get too crazy with increasing your deductible; you want to ensure you can theoretically cover it in the event of a real-world accident or wreck.

4. Ask About a Tracking Device

Lastly (but surely not least), inquire about the option for using a tracking device. Insurance companies are beginning to more regularly utilize this technology for a number of reasons. Most importantly, it is used to temporarily track the habits of drivers so that the insurance company can assess the most appropriate rates. For example, if a tracking device temporarily monitors a driver who regularly speeds or makes risky decisions in traffic, it’s quite possible that the insurance company will assess a higher rate due to the observed risk. On the contrary, if you are a safe driver and use a tracking device to demonstrate this to an insurance company, you can expect lower rates.

These are just a few tips for negotiating a lower car insurance quote. Always remember that getting the most competitive rate is about familiarizing yourself with how rates are assessed and making every opportunity work to your advantage. Good luck!

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