2 Money Saving Foreign Auto Insurance Tips

Foreign auto insurance is the most affordable way to protect drivers while traveling abroad. Coverage includes collision, liability and in some occasions may cover breakdowns. Without international insurance drivers may find themselves in an expensive situation in a foreign country. Luckily, here are two ways to save money when buying foreign auto insurance.

The first way to save on car insurance for travelling internationally, is to maximize your deductible. Unless you are expecting a large accident in the near future, a high deductible may be the difference between hundreds of dollars a month on your insurance premiums. A deductible is the amount of money drivers pay for accidents or other liabilities before the insurance kicks in. For example, a small fender bender may cost $250. If your deductible is $200 you will pay the first $200 and then insurance will pay the last $50. A high deductible minimizes your monthly premium and saves drivers considerable amounts of their monthly charges. The best way to maximize the savings from a high deductible is to save what would have been spent on a lower deductible until a small amount is protected for future expenses.

The second way to save money is through discounts. Insurance companies like other businesses are interested in having lots of customers. Often they receive more customers by offering special discounts or premiums. Ask your agent about their discounts for your foreign car insurance. The best discounts to ask about are good driving records, theft devices, defensive driving courses, home ownership, good students, and low mileage. By asking about these important discounts, drivers can save considerable money on their monthly premiums.