Jun 30th 2009 08:35 pm 9 Ways To Reduce Your Auto Insurance Premium
Get a quote from every reputable insurance company in your area.
Although a company may offer a low rate, make sure they are customer driven and
experienced. The last thing you want is to be working with a ruthless insurance
company in your time of need.
2. Raise your deductible. Many deductibles are in the $300-$500 range. If
you raise it slightly you’ll see a reduction in your auto insurance rate. Even when
people are slightly above their deductibles they pay out of their own pocket to
reduce their premium. A higher premium ($750-$1000) can save serious money
over the years.
3. Try to insure everything (house, second car, RV, boat) with one company. With
everything insured with one company, it’ll be cheaper overall and easier to manage.
Also, have all of the drivers insured with the same company. You may get a loyalty
discount.
4. Have you taken any driver’s education courses in the last few years? This mostly
applies to new drivers. If so, you likely qualify for a discount. Insurance companies
want to know that you know the basics, and have studied the rules of the road. If
you’re older, you may want to take a refresher course in defensive driving or
perhaps a skid control school. These are fun and educational.
5. Many insurance companies also offer a discount for students who maintain good
grades in school. That’s right. Some insurance companies offer discount of between
5%-10% for students who maintain a higher average.
6. If your car has airbags, ABS, or an anti-theft alarm you may qualify for a discount.
It’s simple. Airbags help keep you safe while in an accident. ABS helps you to avoid
an accident and an anti-theft system prevents your vehicle from being stolen. All of
these are good for the insurance company so they’ll often lower your rate.
7. Drive responsibly. Insurance companies will lower the rate as you prove you’re a good driver. Every year without an incident your premium should go down. Once
you hit 25 your rate should get reduced by about 1/2. But if you’ve had a number of
speeding tickets and accidents, get prepared for significantly higher rates.
8. Reduce coverage on older vehicles. There is no point in fully insuring a car that is
not worth very much. If the car is only worth $3000.00, any significant damage will
cause the insurance company to write off the vehicle. And you’ll only get what the
vehicle was worth wholesale. So you may get $1500.00 from insurance but your
rates will increase on your next vehicle.
9. Try to purchase a “low profile” vehicle that isn’t a target for thieves. The more
likely your vehicle is to get stolen the more it will cost to insure. There are some
great cars and trucks out there. If you really want lower rates stick with something
conservative.
For more information on auto insurance all-about-car-
selection.com/discount-auto-insurance.html” target=”_blank click here.
Peter Johnson is the chief writer for all-about-car-selection.com all-about-car-selection.com.
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