5 Best Ways to Cut Your Auto Insurance Costs
5 Best Ways to Cut Your Auto Insurance Costs. Talk about saving some money and how can you forget those auto insurance costs? Many people end up paying a lot of their hard earned money to bear the high auto insurance costs and they don’t have any choice to not opt for it.
In major
countries of the world it is compulsory unless they are living in Utopia, but
most probably they won’t need any cars there. Anyways, we have listed five best
ways for you to cut your insurance costs and save up some money:
1. Discounts are Always Good!
If you insure
multiple cars from the same company, chances are that you will receive a lower
quote per car. Talk to your insurance company about this option. They will
offer lower amount of money to you because you are bringing more business to
them.
Companies also
provide you discounts if you own some other insurance type from the same
company such as property and casualty insurance, or life insurance.
Talk to your
agent and see if you are eligible to get such discounts. You could also see if
the firm offers discounts for senior citizens, or people who are members of
certain organizations.
Read Also: 3 Tips to Eliminate Holiday Debt Quickly
2. Be Attractive
Wait! By
attractive we mean that you should take steps to make you seem like a good
package to the insurance company. Keep a clean record and make sure to avoid as
much traffic violations as possible.
The more risky
investment you may seem to the auto insurance company because of your driving
skills, the more they will charge you for your policy.
Taking a
defensive driving course can also make you look as a secure and responsible
candidate. Be sure to ask your insurance company before taking such a class. It
shouldn’t be for nothing!
3. Go to Competition
It is always good
to do some research before binding yourself in a contract. Look for competitors
of the company you are thinking about going to, or already own a policy at.
After a while, it is sensible and economical to make sure there isn’t a better
policy out there.
However, there is
a saying that goes, ‘Good things aren’t cheap and cheap things aren’t good’.
There can be hidden costs which you may not be aware of. Read up online reviews
of different insurance companies to make sure you know what you are getting
yourself into.
4. Don’t Take Your Car Everywhere
If you drive less
or use public transport, your premium will be automatically lower. You should
make your insurance agent aware about the fact that you don’t use your car too
much. This can help you by getting you a lower premium and you will save some
money.
Most companies
want you to retrench your mileage drastically before they offer you a discount.
Be aware of the mileage and make sure your company knows how much you drive.
You could also impose a limit on yourself (well that won’t be easy though).
5. Deducing the Deductible
Usually, the lower
the deductible is, the greater your premium would be. Most people think it wise
to pay a huge deductible to lower their premiums and save some money at the end
of the month.
However, if you
increase your deductible to lower your premium, you lower the total amount you
are going to get paid in the end. For example, if your deductible is $800, and
your total amount is $15000, you will get plain $14200 in the end. A lower
deductible will increase this amount.
There are a lot
more options to reduce your insurance costs and these were just some of them.
Have you ever tried to cut your auto insurance costs? If yes, feel free to tell
us in the comments section below. (*)
