Is my car insurance negotiable?

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Key takeaways...
  • Car insurance is not negotiable once a quote has been issued
  • It’s your right to get quotes from multiple insurance companies
  • There are many ways for you to control the cost of insurance

The cost of car insurance is non-negotiable. Once you receive a quote from an insurance company, it is up to you to either accept the quote or to get quotes from another company.

There are ways you can negotiate the cost by working with multiple car insurance companies as well as adjusting the coverage within your policy.

Enter your zip code into our free comparison tool to find the best rate for your car insurance needs.

Get Multiple Insurance Quotes

You have the right to get multiple insurance quotes. It’s a good idea to get quotes online from three or four insurance companies. Every insurance company uses the same factors, though many will put a higher emphasis on one factor over another.

Further, many insurance companies have different cost structures because of the different states they are in as well as the customers they insure.

You might find that one insurance company is considerably lower than another insurance company.

If you fail to get multiple quotes, you wouldn’t know that. You would end up paying more money, and since insurance companies don’t negotiate, you would have no way of lowering your premiums.

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Adjust Your Deductible

Your deductible is what you pay when filing a claim. The average deductibles are $500 or $1,000, though you might have other options available to you as well, depending on the insurance company. The higher your deductible, the lower your premium will be.

The deductible is your out-of-pocket expense to deal with when there is a claim.

Once you pay the deductible, the insurance company will take care of the remainder, up to your coverage limits.

By paying a higher deductible, you show that you’re willing to take on more of the expense if there is an incident.

Determine Coverage Levels

You have to adhere to state requirements for car insurance as the minimum level of coverage. State requirements generally identify coverage levels for bodily injury and property damage liability. You can then choose to go above those levels, but not below.

Additionally, you might want to consider other types of coverage, including:

  • Comprehensive
  • Collision
  • Uninsured motorist

The more coverage you add, the more expensive your premium is going to be. While certain levels of coverage are a must in order to provide protection against various scenarios, you can choose the total coverage level.

If you are a safe driver in a city where there is not a large number of accidents or traffic congestion, you might be able to reduce some of your liability levels in order to save money on your premium.

Getting the Best Premium Cost

Although you can’t negotiate a quote down once you receive it from the insurance company, there are ways to get a good premium.

– Know What Goes into Your Policy

A lot of factors go into the cost of your car insurance policy. These factors include such things as age, gender, and your driving record. When you know more about the factors, you can work to influence them as much as possible.

While you can’t do things about your age and gender, you can control your driving record, the car you drive and much more.

– Be a Safe Driver

The safer you are on the road, the less likely you are to get into an accident. When you can show insurance companies that you have gone accident-free for several years, you are rewarded with a lower insurance premium.

Additionally, you are also rewarded if you don’t get traffic violations for speeding and other things because it shows you’re following the rules of the road.

– Get a Safe Car

Review the safety ratings of cars to save money. Many cars have a lot of safety features to avoid collisions and even help with backing up, parking and more. Take the time to review a few different cars before purchasing one impulsively.

You can even get quotes from insurance companies on the two or three cars you’re considering to see how they will each measure up in terms of how much it will cost to insure them.

Car insurance premiums are non-negotiable. However, there are ways for you to negotiate how much you pay based on shopping for rates from multiple insurance companies and determining what is included in your insurance policy.

Enter your zip code below to compare rates today!

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