There are few tricks to lowering auto insurance premiums. Here are a few of the factors that go into determining your auto insurance payment and some ways you can potentially lower yours today.
- Be a safe driver. This is the obvious starting point for lower auto insurance rates. If you have little to no accidents and tickets, you’re rewarded with better rates on your policy. Remember, even a single accident can affect your driving history. Get in the habit of driving the posted speed limit and being steady with your driving. Some insurance carriers are actually giving discount for using car insurance tracking and monitoring devices.
- Choose a higher deductible. This is the amount you pay per claim, just before your auto insurance company pays for the balance of the repair and replacement. In order to save, you can purchase policies with lower deductibles. This will lower your monthly premium. Just make sure that you a deductible amount that you can afford; one that will still allow you to earn monthly savings, but that is also in an emergency fund in case of an accident.
- Purchase a car with a lower insurance rate. Buying a new car can be very exciting, but you want to take a look at how it will affect your auto insurance premium. New cars will have higher premiums compared to used cars. If you’re thinking of buying a sports car with a bigger engine, prepared to dish out more for auto insurance.
- Discounts. You may be eligible for discounts. We check for the following opportunities for our clients at Frost & Remer:
- Good driver discount, which is for drivers with a clean driving record
- Safe driver discount, which is useful for those who have taken driving courses
- Multi-vehicle discount is available for drivers who insure multiple vehicles with the same provider
- Multi-line discount is also for drivers who also insure their home with the same provider
- Good student discount, for students withgrade B average or higher
- Safe vehicle discount, which is available for those who have installed safety devices on their vehicles.
Keep an eye out for these opportunities and you may enjoy a better, more affordable premium with your car insurance company.