Getting a Car Insurance? There Are Ways on How to Cut Your Premiums

Almost all states in the US require that car owners must have their vehicles insured. However, even if it’s not mandated by the law, it’s still a good thing to get an insurance. Accidents may happen anytime. This coverage can give you peace of mind knowing that you don’t have to shoulder all the expenses on your own. Car insurance doesn’t come cheap, especially if you have an expensive car. However, there are things that you can do to get the policy you need at the most affordable price.

Shop around

Getting a car insurance is like purchasing any other important things like a house, furniture or appliance. To get the best deal, you must shop around and compare. It’s reco

mmended that you do this before even purchasing a car. Say you have two car brands or models in mind, one of them may cost less to insure than the other, which you must consider before making your final decision. Get free quotes from insurance providers so you can do a comparison.

Enroll on a defensive driving course

Most insurance providers give discounts to those who enrolled on a defensive driving course. This is because there is a lower risk that they’ll be involved in an accident, which is an advantage to the insurance company as they will not shed money to cover for the expenses.

See if your current insurance company offers car insurance.

If you already have other types of insurance, ask your insurance provider if they also offer vehicle insurance. Insurance providers provide discounts for getting different types of policies from them. But still, consider the amount that you’ll be able to save and the price offered by the other providers. See where you’ll get the most savings.

Have all your vehicles insured under one policy.

You’ll get a discount for insuring multiple vehicles on one policy. If you have several vehicles in your household, talk to your family members and consider insuring all your vehicles in one plan. This will not only make payment more convenient, but it will also make your premium lower.

Pay annually or every six months.

Car insurance is usually paid every month. But you have the option to pay it every year or twice a year. If you can afford to make the complete payment for the year or for six months, you may want to consider doing so. It’s because most providers charge lower if you pay annually or twice a year instead of monthly.

Have additional safety and security features installed in your car.

Having additional safety and security features installed in your car can make your insurance premium lower. If you’re thinking of having your vehicle upgraded, it’s best that you focus on these features since it will not only give you discount on your insurance, but it’s also for the own safety of your car. It’s not a cheap investment, so you must do everything to keep it secured.

Some vehicle owners prefer to have some cool additions to their cars like stereos and other customizations. If this is what you want and you can afford it, by all means, do so. But remember that if something happens to your vehicle, these additions or customizations will not be included when assessing the value of the car. So if you’re working on a budget and you want to save further, it’s recommended that you go with the safety features first before these customizations.

Increase your deductible

The deductible is the amount that you’ll pay out of your pocket in case an accident happens. For instance, if you were involved in a vehicular accident and your deductible is $1,000; you must pay the expenses from your own money, up to $1,000. Remaining expenses that’s covered by your insurance will then be paid by your provider.

The higher the deductible, the lower the premium that you have to pay. However, make sure that you have that amount set aside in case of emergency. As mentioned, you must pay the amount from your own pocket before the insurance can be used.

Policies are continuously changing. See to it that you talk to your insurance provider every now and then to ask about new discounts that you may qualify in. Furthermore, check out other insurance providers, especially when your policy is about to expire to see if there’s a better offer out there.

1st and featured image By IFCAR (Own work) [Public domain], via Wikimedia Commons

2nd image by Oregon Department of Transportation (Drive test  Uploaded by AlbertHerring) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons