If you want to keep the cost of your Washington D.C. car insurance coverage down, one way to accomplish this goal is to raise your deductible. When you agree to pay a larger portion of any claims you make against your policy personally, the insurance company is able to offer you lower rates since you present a lower level of risk to insure.
Before you commit to paying more out of pocket personally, make sure that you won’t be stretching your budget if you are involved in an accident. If increasing your deductible to $500 or even $1,000 is going to cause financial hardship, it may not be worthwhile for you to do so.
Another part of the equation is to make sure that the potential savings make raising your Washington D.C. car insurance deductible worthwhile. To find out, plan to shop around and get quotes from several providers.
Comparing prices from multiple companies is a good strategy even if you are not planning to raise your deductible level. Pricing does vary between providers. By spending some time on your car insurance search, you can either confirm that your current provider is giving you the best deal or that it’s time to move on to a new company.
When you are getting quotes from different companies, make sure that all of them are for the same level of coverage and that the deductible is the same.