Monday, May 5, 2014, AM | Leave Comment
Car insurance can be expensive, but you don’t have to resign yourself to sky-high rates. There are steps you can take to lower your premiums and start saving money. Here are five little-known secrets that can help you slash this bill and lower your monthly payments.
Raise the deductible, but don’t skimp on coverage
Your premium is based in part on the size of your deductible. If you agree to cover more of the costs when you have to file a claim, then your monthly fees will drop. Do not lower your coverage levels because you need that high level of protection to protect your assets in the event of a lawsuit.
Drive safely every time
Insurance companies keep an eye on your driving record. If they see tickets come through, then they’ll raise your rates. However, you may also qualify for a discount if you’ve maintained a clean driving record. If you’ve gone five years or longer without a ticket, then you may want to call your company and ask if you qualify for a safe-driver discount. Keeping those violations off your record will lead to lower rates in the future.
Loyalty to one company does pay
Show how loyal you can be by insuring all of your cars and your home with the same company. Many agencies offer discounts if you have multiple policies with them. In addition to reducing the regular premiums, you’ll also simplify your life by consolidating your bills.
Take a class to show that you’re a safe driver
You want the insurance company to know that you’re serious about driving safely. You may be able to earn a discount if you sign up for a safe driver’s class. Speak with your agent first to ensure that you sign up for a class that is approved by your insurance company.
Ask about special discounts
Insurance companies offer discounts for all kinds of reasons, including your place of employment. You may be able to get a break if you’re a teacher or a firefighter, for example. Some employers also have contracts with certain insurers to provide their workers with special rates. Ask your company if they offer any special discounts when you enroll for coverage.
It is possible to save on your car insurance. Asking the right questions can make a difference in the size of your premium. Save by increasing your deductible, and enjoy greater savings by taking a class in safe driving and maintaining and clean record.
Karleia is a freelance blogger. Get a driving ticket? Enlist the assistance of an agency like NYTickethelp.com.