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5 Quickest Ways To Lower Your Auto Insurance Premium

Author: Karen McFarland  //  Category: Car Insurance

Do your current financial goals include cutting down on your auto insurance premium? Auto insurance rates can spiral depending upon factors that include your age, past driving record, and other factors such as credit history. Still, the best way is to focus on lowering the annual premium. We have come up with five ways in which you can achieve this and lower your premiums.

Try Going For A Higher Deductible

Stop trying to get the ‘lowest deductible’, instead go in for a comfortably higher out of pocket payment plan. The amount that comes out of pocket before the insurance policy takes effect would be the “deductible” amount. Your periodic premium amount would then effectively go down. However, be warned that if something happens to your vehicle you need to shell out more to cover the initial expenses prior to going in for a claim.

Leave Your Car At The Garage

You can leave your vehicle parked at any garage located at shopping malls, or other commercial and personal establishments. This could help reduce close to 20% of the premium. By leaving your car or truck at a garage, it is considerably safer from the usual threats of damage. If you park your vehicle at a garage, you could see a possible difference between standard and preferred rates.

Shop around and bargain

Nothing beats the traditional ‘shop around to get a bargain’ approach. Research extensively and come up with at least three price quotes when looking for an insurance provider. Make sure as well that you are evaluating their whole deal and not just the price.

Enrolling In Defensive Driving Courses

In today’s environment, this may sound a bit strange. By enrolling in defensive driving courses approved by the state, you can reduce your premiums by some 10 percent. However, do cross check with your insurer first.

Getting Less Coverage

The last, and most simplistic tip is to downsize your auto insurance coverage. However, we suggest you to be careful and prudent while making this decision. Think of the possible loss in coverage that would go with the discounted premiums.

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