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3 Reasons Why You May Be Paying Too Much for Auto Insurance in Deer Park, TX

3 Reasons Why You May Be Paying Too Much for Auto Insurance in Deer Park, TX

If you’re a driver in Deer Park, the cost of your auto insurance can be substantial. In fact, Texas is ranked as one of the most expensive states to purchase car insurance in–around $1,545 dollars annually, according to statistics compiled by insure.com in 2013. If the cost of your Auto Insurance in Deer Park, TX seems out of control, you may be making several costly mistakes that are driving up your rate. Keep reading to learn several reasons why you may be paying too much for car insurance, and how to fix the situation.

You Credit Report is Lacking

If your credit rating is poor, your insurance rates could be suffering. This is because most insurers use your credit rating to help determine how much you’ll pay for car insurance; a lower score usually means a higher premium. For example, your payment history on loans, credit cards or utility bills accounts for nearly 1/3 of your overall credit score, so a bout of late payments can adversely impact your Auto Insurance in Deer Park, TX. To bounce back, be sure to make all payments promptly, review your credit report for any mistakes and clear up any delinquencies as soon as possible.

You’re Driving a High-Risk Vehicle

The car you drive is one of the key factors insurers use to calculate your rates. According to the RMIIA, insurance companies give the best rates to vehicles that have several safety features, are at a low-risk for theft and suffer less damage in crash tests. If you’re driving a high-performance sports model or a luxury car, you could be paying insurance rates that are 3 times as much as a low-risk car. The cheapest cars to insure in 2013? Crossovers and SUVs, according to MSN Money.

You Haven’t Asked About Discounts

Because the insurance industry has become so competitive, there are many new discounts available that you may not be taking advantage of. You may be eligible to receive discounts of 10% or more if you’re a student with good grades, a driver with annual low mileage or a work-at-home parent. Failing to ask your agent about these discounts could cost you some serious dough.

If you’re making any of these common insurance mistakes, you could be paying too much for your policy. For additional information and more ways to save, talk to Larry Gates at Larry Gates Insurance Agency.

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