You Must Have Auto Insurance – How To Save

Several Different Ways To Save

The best way to save on auto insurance is to be a female veteran with an absolutely clean driving record, a sound vehicle with only one owner, and good credit. But as you may have ascertained, this represents only one portion of the actual demographic buying auto insurance. If you’re not in this category, you’ll have to be creative.

First, you don’t want to take the first quote you get from the first agency you call. Geico and Progressive want to dominate the market, but the truth is you can get much cheaper rates from other agencies regardless of your situation; it just may mean paying on a different scale.

For example, some organizations are going to give you the option of paying different rates depending on how much you pay, when. Sometimes if you pay on a yearly basis, you can save one or two hundred dollars overall. Sometimes the same will happen if you pay twice a year, or quarterly.

There are some agencies who don’t change rates at the monthly level, from those at the annual level; but these are only a minority of insurance agencies. Usually, you’ll end up paying more piecemeal than if you consolidate payments into a single annual chunk. The thing is, not everyone can afford this.

Additional Factors

Beyond comparison, the kind of insurance you ultimately source for your car will play a big part of the eventual cost. If you just get barebones liability, it’s very conceivable for you to source insurance which is under $30 on a monthly basis. But then, if you go this route, should you experience an accident your vehicle will not be covered.

You may also consider a packaged deal which exists from under the “shadow” of a small or large business. A corporate entity is going to get different rates than an individual. If you’ve got a fleet of vehicles, it’s possible you can get a group rate that is cumulatively less expensive than insurance on a single vehicle.

You should pay careful attention to taxes as pertain to small businesses and insurance.

A state comptroller may run a tax audit on your business, but if you list insurance as a business expense, then you may be able to write it off; and even if you’re under audit, that’s perfectly legal. You might consider this an insurance discount of a kind, if you like.

Finding The Best Rate

If you’re looking for the best rate pertaining to auto insurance, points out that: “…no two people are the same when it comes to car insurance.” There are many reasons this is the case. You’ve got traffic tickets, you’ve got driving history as regards accidents, age and gender both factor in—the list goes on.

A big part of that is liability. If liability is removed from the individual to the business, depending on the creditability of the business, you may very well save substantially on auto insurance by defining your car as one of the “company” variety.

One thing is certainly true: regardless of what you do or how you conduct your business, efficiency is going to be one of the most important things in maintaining profitability. You’ve got to curtail time expenditure among employees where possible, decrease infrastructural overhead, and sometimes take out a loan.

Part of efficiency in business is securing auto insurance en masse through an agency who can give you a business rate, and being sure to claim that as an expense on your tax forms. You can double down by using your business to source insurance on a car that, let’s face it, you were going to use for business anyway.