Keep Your Monthly Premium Low: 4 Tips to Lower the Cost of Auto Insurance

Thursday, March 27, 2014, AM | Leave Comment

If you own a new or old car, you should think about our insurance costs. Sadly, many overlook this and simply find a random company and policy. However, if you take a few minutes to consider things a little more deeply, you can find a way to save money on your premiums. With this in mind, here are four tips to lower the cost of auto insurance.

If you’re curious about what kinds of discounts, or credits that you could be missing out on, there is a company that does auto insurance in Oklahoma City that might be able to answer your questions.

4 Tips to Lower the Cost of Auto Insurance

  1. Type of car

    Without a doubt, if you drive an expensive sports car, you will pay high premiums; however, if you drive a used Toyota Corolla, you will not have to pay higher monthly fees, provided you have a decent record. For this reason, when getting a car, you should think about getting a non-sporty version. When doing so, insurance companies will not think you are much of a risk, and you will enjoy lower premiums than average.

  2. Student discount

    If you are in school, you can quality for a decent discount. Often, most providers will give you a serious discount if you are enrolled in school full-time. Since this is an easy one to take advantage of, you should contact your insurance company immediately if you are a student. Remember, this is usually only valid for full-time pupils enrolled in college.

  3. Classes

    If you have been in an accident before, you should consider driver’s training courses. With this, you can lower your monthly premiums. This is beneficial whether you have been in an accident or are an older driver. Either way, with a cheap and quick class, you can learn some basic defensive driving moves. At the same time, when reporting this to your insurer, you can reduce your premiums drastically.

  4. Pay all at once

    Some companies will offer a customer a steep discount if they pay all the premiums at one time. Unfortunately, some providers will charge a monthly convenience fee if you want to pay your premium as you go. While this might be hard for a person without much money in the bank, this is a wise move if you can front the cash. Remember, insurance providers often charge $5.00 a month or more just to take a monthly payment via bank draft or credit card transaction. When eliminating this, you can save an easy $60 a year with little effort.

When looking to save money on car insurance, a consumer should think a little more deeply. When doing so, it is easy to lower monthly premiums substantially and for the long-term.

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