THE 10 QUICKEST WAYS TO DRIVE DOWN THE COST OF YOUR CAR INSURANCE – WHAT YOUR CAR INSURANCE COMPANY DOESN’T WANT YOU TO FIND OUT
Owning a car doesn’t come cheap, what with the cost of gas, maintenance and insurance. Yet it is easier than you think to find ways to decrease the cost of your car insurance. Simple things like doing research on various quotes, reviewing your existing policy and increasing your deductible are just a small portion of what you can do to save money on your car insurance. Here are ten of the best ways to tighten your belt whilst retaining quality coverage:
1: Do some research and review rates twice a year
You should always check your current insurance rate at the start of the year but don’t wait until next year to do so again. An independent study has shown that those who review their policy every 6 months and switch companies save an average of just over $300 on a 6 month policy. Remember, you’re a different driver than you were a few months ago so be sure to consistently check quotes in order to save.
2: Higher Deductibles equal a lower premium
The more you spend on deductibles, the less you pay in premiums. While the cost of a major accident may be expensive, minor accidents actually cost you the same in terms of what you pay out of pocket.
3: Don’t pay insurance in monthly installments
Usually when you make a payment there will be administration fees added on. So by paying monthly, all you are doing is paying extra unnecessarily. For example, a $5 administration fee paid monthly for a year is $60 you don’t need to spend.
4: Check for Multi-Line Insurance Discounts
Multi-line policies are criminally underused. What this entails is purchasing your auto and home insurance from the same company. The Insurance Information Institute states that up to 15% can be saved in this manner.
5: Benefit from Good Driving Discounts
Generally speaking, good driving equals lower premiums. Some states ensure that it is illegal not to have good driving discounts. Take a look at Insurewish.com if you have been accident-free for the last three to five years and see if you are eligible for a discount of this nature.
6: Never overpay when it comes to paying tickets in your Car Insurance
Moving violations represent a risk for insurance companies which means that your insurance rates will go sky high. If you feel that your insurance company is being unreasonable in this regard, look around to find many other companies who will be glad to have your business.
7: Keep an eye out for Safe Vehicle Auto Insurance Discount
If you vehicle is loaded with safety features such as alarms, airbags and anti-lock brakes, your company is likely to give you a good deal. Always include these features when negotiating a new insurance policy.
8: Avoid Unnecessary Coverage
There is always the chance that you are paying for insurance cover that you don’t strictly need. Perhaps your auto club provides free towing yet your insurance policy charges you for towing as well. Get out the scissors and snip away these arbitrary costs.
9: Search for good senior and student discounts
College and even high school students can benefit from companies rewarding them with a lower priced policy for receiving good grades in school because they believe that studious people equal careful drivers. Also, those over 50 may be looked upon favorably because of their experience.
10: Pay less when you drive infrequently
Having low mileage per year often can lead to a lower premium with certain companies having established criteria. If you feel that your commute to work or general usage of your vehicle has waned, be sure to see if you’re able to save some cash by browsing all your nearest car insurance companies.
You can compare your Car insurance quotes and reviews and other useful money saving tips Insurewish.com.