Lowering your car insurance premium is a quick and easy way to save money. It will take you about five minutes to get multiple quotes from a variety of insurance companies. You can then decide for yourself who you want to go with. How do you go about lowering your auto insurance premium?
Only Get Liability Coverage
Collision and comprehensive insurance add money to your premium. Get rid of the extra coverage if you don’t plan on using it. In other words, drop the coverage if you would get rid of the car if it were damaged. Older cars generally don’t require this extra coverage.
Increase Your Auto Insurance Deductible
Raising your deductible is a great way to easily lower your premium. Your premium is lowered because you assume more of the financial burden in the event of an accident. Only raise your premium to a level that you are comfortable with.
Move To A Rural Area
Those who live in the country generally pay less than those who live in the city. Those wide open spaces reduce your chances of an accident or other damage to your car. This could be a good tiebreaker if you need a reason to move to the country as opposed to staying in the city.
Improve Your Credit Score As Much As Possible
You might think your ability to pay off your credit card has no bearing on your ability to drive a car. However, those who have a lower credit score are seen as risky and irresponsible. Counter this assumption by making sure your bills are paid on time each month. This will make it easier to get a lower rate on your car insurance policy.
Opt For A Discount Insurance Provider
You can visit an online broker that offers discounted car insurance to find companies that aren’t as concerned with your credit score or other bad driving habits. You might be able to find a policy that gives you an affordable rate. The only downside is that you risk having a lower level of customer service. The claims department may be nothing more than an answering service in an empty building.
Saving money on your car insurance policy is fairly easy. Get quotes within minutes when you go online to compare rates. Improving your credit score and dropping unneeded coverage can help as well. Consult with an insurance agent if you have any concerns about your current policy.