Three Life Events That Can Greatly Affect Your Auto Insurance Rate
Getting married, becoming divorced or widowed, or embarking upon your golden years; all of these events can have a huge impact on our lives, but we bet you never thought that these changes could also influence your auto insurance rate. It`s true! And it just might have you reevaluating your auto insurance policy.
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Getting married is a very exciting time in one`s life. It`s a new beginning, the merging of assets and the chance to receive a bigger discount on your auto insurance rate. That`s right: marriage can actually save you money!
Many insurance companies offer discounts for multiple cars. So by having all your automobiles under one policy, you can save money and cut down on multiple bills and policies you may have. During this time you may also want to shop around and compare the quotes and policies of other insurance companies. This will help you find the best rate and coverage for you and your new spouse.
Widowed or divorced
Being recently divorced or widowed is a very difficult and upsetting time in one`s life. Unfortunately, it is also a time when you need to reevaluate your auto insurance coverage. Depending on your situation, you may be the only full-time driver in your household, which means your rate may go up. Even worse, it may go up higher than you can afford.
However, there are things you can do to try and keep your costs down. For starters, shop around. Although your current insurance provider may have given you the best rate while you were married, that doesn`t always mean they will be able to do the same when you are single. Also, take a good look at your plan. What you once needed as a married couple may no longer apply as a single person.
With the loss of an extra income, your budget might also become tighter. If this is the case you might want to consider looking into raising your deductible or eliminating your comprehensive and collision coverage. Even though you may not want to, these changes could make a considerable difference in your auto insurance rate.
Retirement
Retirement is a perfect time to travel, spend time with loved ones and review your auto insurance coverage. Since you no longer need to drive to and from work each day, your annual mileage will more than likely drop, which can mean a nice rate decrease for you! Plus, you may also discover that you no longer need multiple cars and that one car suits you just fine. By downsizing to one car you will not only save on gas, but you will also help reduce your auto insurance rate.
Another way veteran drivers can save on auto insurance is by participating in AARP`s Mature Driving Course or AAA`s Mature Operator Program. Many insurance companies provide discounts to seasoned drivers who participate in these refresher courses. So it might be worth a try!
It never hurts to shop around
No matter what change you may be going through in life, it never hurts to do a little comparison-shopping. To help expedite your investigation, logon to Insurance.com`s auto comparison module. Here, you will be able to compare the rates of up to 12 insurance providers, helping you save time and money on your auto insurance
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