If you own a car, you know how mandatory and important car insurance is. But you don't have to overspend on premiums. With the soaring prices of goods and services, taking steps to lower your car insurance rates can keep more money in your pocket while ensuring you have all the protection you need for the road ahead:
Shop around and compare quotes
Insurance premiums are not uniform across the board. Company A's quote may be higher than company B's for the same level of protection. That's why it pays to get at least three minimum quotes and compare their rates, even when it's time to renew. It can be overwhelming, but an independent agent can help out for free.
Pay a higher deductible
A deductible is a set amount you pay before the insurance plan pays. The lower your deductible, the higher your premium. Similarly, choosing or increasing your deductible will lower your insurance rates. However, make sure you set aside enough money in case you have to file a claim.
Bundle your insurance policies
If you buy an auto insurance policy from an insurer, purchasing another policy from the same carrier can lower your insurance rates. Most insurance companies have auto and homeowners insurance in a bundle plan and offer a discount if you insure both your car and home with them.
Take advantage of discounts
Insurance companies offer loads of discounts you may not be aware of. Don't be shy to take advantage of these discounts to reduce your premiums. For example, there are discounts for completing a defensive driving course, having good grades (for students), installing security and safety systems like alarms and airbags, driving an energy-efficient car, etc.
Drive an insurance-friendly car
Some cars cost more to insure than others. Before giving you a quote, insurance companies will consider the type of car you drive. To get lower auto insurance rates, drive a car that has a low theft rate, is cheaper to repair, and has high safety ratings. For example, sedans are cheaper to insure than SUVs.
Improve your driving record
Your chances of filing a claim are high if you have a history of drunk driving, traffic violations, overspeeding, and accidents. Insurance carriers understand this and bump up your insurance premium. Improving your driving records lowers the financial risks you carry, and by extension, your insurance rates.
Park in a garage
Parking in a garage helps lower your insurance premium. Locked in a garage, your car is less likely to be stolen or involved in an accident than a car parked in a driveway. The low risk of theft and accident translates to a lower possibility of making claims, lowering your insurance premium.
Protection on the road doesn't have to be expensive. Save more money on auto insurance today
We understand that you want all the protection you need while driving but don't want to pay more than you have to. Our insurance agents can provide the right insurance policy for your needs at the most competitive price. Get a quote today.