How to Get Lower Rates for Your Car Insurance and Homeowner's Insurance Policies

If you are like most people saving money during these tough economic times is important. One way to save money is by reviewing your car and homeowners insurance policy. Just by making a few adjustments you can you can lower your monthly premiums. First combine your auto insurance with your homeowner's policy. Many insurance companies will lower your premiums when you have your car on the same policy as your homeowners.

Become a careful driver

Take your time and drive with caution to avoid receiving a moving violation. If you receive a number of infractions your auto insurance premiums will increase and there is a possibility your license could be suspended. Of course this policy will vary from state to state.

Increase your Deductibles

Deductibles are out of pocket expenses that must be paid by the insured before the insurance company will pay a claim. A typical deductible is $250 or $500. In some cases you can increase it to $1,000. When you increase the deductible for your auto and homeowners insurance policy your premiums will decrease. A larger deductible means you are taking on more risk as opposed to the insurance company.

Cancel Physical Damage Insurance

If you have an older car cancelling the physical damage insurance can save you money. Some people do this if their car is paid in full and the car is 8 or 9 years old.

Take a Safety Driving Course

Some insurance companies will have points removed from your driving record, where were incurred as a result of a moving violation, when you take a safety driving course. Call your insurance company to see how this is handled. Once points are removed you will see a reduction in your auto insurance payments.

Compare Insurance Rates.

Nothing saves money like comparing the rates of different insurance companies for your auto and homeowner's insurance policy. The rates for one company may be substantially lower than another.

Ask About other Safety Discounts

Discounts are offered by many auto insurance companies if you have certain safety features such as an alarm or air bags. The amount of driving you do can also help determine your rates. Individuals who drive very little on a day to day basis will pay less for insurance than those who drive more. Insurance companies offer discounts on your homeowner's insurance policy if you have safety features such as smoke detectors, alarms, and dead bolt locks.

Length of Infractions

Moving violations usually stay on your driving record for 3 to 5 years. Some insurance companies only consider the violations you received within the past 3 years when they compute your premiums, while others consider those infractions from, the past 5 years. The method used will make a big difference in your premium payments if you have moving violations on your driving record.

Your credit file

The information on your credit report can factor into the insurance companies decision when they decide on your auto and homeowner insurance premiums. If you have bad credit you may have to pay a higher premium. It's a good idea to make payments to your creditors on time if at all possible.

Additional ways to lower your homeowner's insurance premiums

Homes that have newer plumbing, electrical and heating systems tend to get better insurance rates, primarily if these systems are less than 10 years old.

Staying with the same insurance company will help you get lower homeowner's insurance premiums. If you are with the same company for 3 years or more you can expect some type of discount in many cases. This will probably vary from company to company.

http://www.carinsurance.com/kb/content10073.aspx

How do I lower my auto insurance rates?

http://www.carinsurance.com/kb/content10074.aspx

What discounts are available?

http://www.life123.com/career-money/insurance/homeowners-insurance/how-to-get-lower-homeowners-insurance-rates.shtml

How to Get Lower Basic Homeowners Insurance Rates

http://www.progressivecommercial.com/coverages/physical-damage.aspx

Physical Damage Coverage