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New Year may be the perfect time for a new auto insurance plan

Posted On Wed, January 6, 2010

Motorists looking to cut down on their costs in 2010 may want to take the new year as an opportunity to look around for lower auto insurance premiums.

According to an online auto insurance website, the beginning of a new year may be a perfect time to consider shopping around for the possibility of lowering one's premiums due to numerous circumstances that adjust on a regular basis.

One leading reason that one may be able to find lower rates is that over time, blemishes on one's driving record fade away. Once a ticket or accident on one's driving record is three years old, many auto insurers may cut you a break and not bump up their premiums because of them.

Age is also an important factor, as many rates begin to decline as the customer gets older and, presumably, wiser.

"Many companies will offer lower rates to those who have turned certain ages such as 25 or have had increased their driving experience to three years due to the fact that they are seen as less of a risk to insure," a statement from the company read. "An upcoming birthday may come with an extra gift of savings from insurers."

Consumers who own a car that has severely depreciated in recent years may also want to consider dropping their comprehensive and collision coverage to lower their payment.

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