Is My Car Insurance Rate the Best?

Is my car insurance rate the best?

Everyone wants to save money. And, for many families, car insurance is a big expense. So, it's wise to look at your car insurance rate periodically to ensure that you're receiving the best car insurance rate possible. So, what's the profile of a driver receiving the very best car insurance rates out there? Here's what a best rate driver "looks like":

• They have a clean driving record - No tickets or accidents deemed to be their fault in at least three years, preferably longer.
  
  
• They drive a safe car - That little red sports car that goes really fast won't get the best rate.
  
  
• They have a car that's not likely to be stolen - Some cars make the "most stolen" list: these vehicles don't get the best rate.
  
  
• They live in a safe neighborhood - Those who live in neighborhoods known for having high rates of theft and vandalism don't get the best rates- particularly on comprehensive coverage.
  
  
• They have more than one car insured with the same company - A multi-line discount with your insurance carrier can save you big bucks.
  
  
• They are over 35 and their children aren't driving - Reaching the "stable" age of 35 can really reduce your insurance premiums, at least until your teenager starts driving. Then it goes right back up!
  
  
• Their homeowner's policy is with the same insurance company - This is one time when it pays to put all your eggs in one basket.
  
  
• They have good credit - Many insurance companies check credit, and those with good credit may receive a better car insurance rate.

Now, when you compare yourself to the best rate driver, you might find that you don't quite measure up! But that's ok, there are still ways to get a better car insurance rate. Even if you have just one or two characteristics of a "best rate" driver, you can save money. But, you must make sure that your car insurance policy is up to date and reflective of those characteristics.

For example, let's say you had a speeding ticket four years ago, and your car insurance rate went up because of it. It's important that you make note of the date of your ticket and the date at which it is removed from your driving record in your state. Then, be proactive, and make certain that the offense is removed from your driving record and that your insurance premium reflects the change. It's not safe to assume that those things will happen automatically.

Checking your car insurance rate periodically is a smart idea; none of us wants to spend more than we have to for good coverage. Even those of us that might not be "best rate" drivers.