For many consumers one of the most expensive aspects of owning an automobile is the car insurance. Depending on where you live in the United States, you could be paying anywhere from $500 up to $1500 a year just for one vehicle, and the national average is $120 a month approximately. That’s a lot of money for something that, in most cases, you’re never going to need, and that’s why we’ve put together a very short blog today about how to lower your car insurance costs. Take a look, use the ones that you can and happy driving. Enjoy.
1) Maximize your savings by maximizing your car’s security and safety features. Many car insurance companies will give you discounts for having built-in safety features in your car like airbags and antilock brakes. You can increase the savings if you have extra security features like an engine cutoff system and an antitheft system. The reason is that vehicle’s that have these features are statistically a lot less likely to be involved in an accident or to be stolen, giving the insurance company great incentive to lower your costs.
2) Increase your deductible. The deductible on your automobile insurance is, basically, the amount of money that you’d be willing to pay in the event that you had an accident and needed to make a claim. Generally speaking, the higher that your deductible is the lower that your insurance premium will be. Depending on the make and model car that you have, and the year, increasing your deductible to the maximum is an excellent way to lower your insurance costs.
3) Drop your collision insurance if your car is older and paid off. Here’s the thing; if your car is older and doesn’t have as much value anymore and if you’ve paid it off completely, dropping the collision part of your insurance is a great way to cut down on your insurance costs.
4) Take a course on defensive driving. Many auto insurance companies will give you a discount if you take and successfully complete a safe driving course. In most cases these are courses that are offered to young drivers as well as senior citizens but in fact anyone can take advantage of this insurance lowering opportunity.
5) Park your car in your garage. Just like a defensive driving course or having extra security, parking your car in your garage at night (and letting your insurance company know about it) will sometimes get you a discount on your insurance. The reason is that, statistically, your car is much less likely to be stolen if it’s parked indoors at night. Insurance companies know this and make it worth your while to make it happen.
6) Compare several auto insurance companies. There are many automobile insurance companies out there looking for your business. Use this fact against them and shop around for the best rates, quotes and deals. Look at several together so that you can compare apples to apples and make sure that you’re truly getting the best deal for your money.
The 6 Tips above, when added together, could decrease your auto insurance bills by up to 20%, a savings that could literally put hundreds of dollars back in your pocket during the year. While insurance is a prerequisite for any car, paying through the nose for it certainly isn’t, so use the tips above and make sure that you don’t. Safe driving.