If you think you could skip paying for car insurance, you need to think again. You need it to protect yourself against contingencies that could arise. While it is expensive, you can consider it as a good investment as paying for repairs yourself can actually cost you more.
Moreover, what if you were told that there are effective ways to lower your insurance premiums? Surely, you’d want to be able to do that. It’s always good for your mental and financial health to grab every opportunity that could let you save money.
To start, here are five tried and tested ways to lower your auto insurance rates.
- Buy Other Insurance Products From The Same Company
Throughout your entire life, you’re going to go through multiple kinds of insurance products. Most commonly, you need to have property, health, life, and your kids’ education insurance plans.
And in case you recently had a driving misdemeanor, your auto insurance rates can go up. Click for more info here to know more about that.
To lower your premiums, you can purchase those different insurance products from the same company where you have your car insurance from. Many providers are generous when it comes to long-time customers with multiple plans with them. Plus, it could become easier for you to pay for these premiums when they’re all in one office.
The only caveat you need to keep in mind here is to make sure that the insurance company has a good reputation and a long-standing record of quality.
- Shop Around
Take the time to shop around. Getting the lowest deal can hardly be possible if you immediately just settle for the very first insurer you come across. You have to compare rates from different providers, as prices may vary from one company to another. This is easy to do now, as you could obtain quotes from calling providers and browsing their websites.
A good comparison would have to be checking out at least three to five different car insurance providers.
- Take Advantage Of Multi-Car Deals
This section applies to those of you who have multiple cars. It’s common now for households to have at least two cars, especially for those with children. There’s a car for each spouse to allow them to drive to work without worrying that there’s no car available when one of them needs to pick up the kids.
When this is the case, have all your cars insured with one provider. This is an effective way to lower your premiums, as many insurance companies have advantageous pricing when it comes to multi-car deals.
Also, apart from lowering the costs, having just one insurance provider could also make it easier for you to keep track of your insurance bill. And it’s convenient when you need to file multiple claims as you only need to contact one company.
- Reduce Coverage On Your Old Car
You may also request to reduce coverage on your old car. To do that, double-check with banks and auto dealerships as to how much your car is worth at the moment first. Then, make a comparison as to how much you were paying in terms of when your car was still at a higher value.
If your old car’s value has depreciated, you have a high chance of getting lower insurance rates.
- Use Public Transportation As Much As You Can
The less frequently you bring your car out on the road, the lower your chances of getting involved in a vehicular accident. This means you could prove to your auto insurance company that you are a low-risk car owner than those who drive around every single day.
For example, say that you don’t have kids to drive to school or you still prefer to use public transportation like the train or bus to and from work every day. You only bring out your car when you go shopping or have many things to bring with you. You may negotiate with your insurer to lower your rates if any of those situations apply to you.
However, be sure that you can show proof that you don’t use your car often. Take note that car insurance companies also base their risk calculation according to the mileage the car is intended to be used for.
Car insurance costs are different for every driver. There really is no uniform approach to this, given that each driver has their own safety history and even their own kind of vehicle being driven, too. Nonetheless, you don’t need to suffer because of expensive insurance rates since there are ways for you to haggle through the cost. The steps above could surely help you out.