In contemporary society, due to the high pricing of vehicles and the normalization of the litigious process, the need for auto insurance has been on the rise.
The major problem is the high cost of auto insurance.
- 1 How to lower the cost of your auto insurance
- 1.1 Insuring of multiple cars or drivers
- 1.2 Clean driving record
- 1.3 Shop for affordable quality auto insurance services
- 1.4 Mass transit
- 1.5 Increase your deductibles
- 1.6 Improve your credit rating
- 1.7 Review comprehensive coverage on old cars
- 1.8 Discounts for special devices installed on the vehicle
- 1.9 Find out of any additional discounts
- 1.10 Unnecessary coverages
- 1.11 Take a Course in Defense Driving and other road safety related courses
- 2 Conclusion
However, it is important to note that you can get affordable auto insurance for your vehicle.
How to lower the cost of your auto insurance
Below are some of the ways that you can lower the cost of your auto insurance to make it affordable and still get quality service.
Insuring of multiple cars or drivers
Getting a quote for a single vehicle can be costly compared to acquiring a quote for multiple vehicles.
Most insurance companies offer a bulk rate if you purchase their services in bulk to act as an incentive.
Others offer the best deals to encourage you to bring more of your vehicles.
This especially is suitable for public transport or organizations with multiple vehicles.
For insurers who’ve not put up such offers, you can enquire and bargain for a discount.
If you are seeking insurance for multiple drivers, they must be either from the same company, residing in the same area or related by blood. For unrelated persons, they must own the vehicle jointly.
Moreover, if you have other packages insured by the same insurer, you can qualify for a discount.
To check if you qualify for any reductions or discounts, consult with your insurance provider.
Clean driving record
A safe driver is more likely to obtain a lower rate.
This might sound impractical considering the number of road distractions and accidents that happen on our roads on a daily basis.
It is, however, key to be careful and vigilant on the roads and play your part to avoid any form of accidents.
You should be aware that you get points based on your driving.
The higher the points, the higher the chances of a discount.
Shop for affordable quality auto insurance services
Due to the stiff competition in the industry, auto insurance companies come up with great deals every day.
Do not limit yourself when it comes to exploring the available options.
If you discover your policy does not suit the quality service you expected or has increased its prices, it is okay to switch to another insurer.
It is important to note that cheap does not often mean it is good.
The financial capability of the consumer is key, but that does not warrant the disregard of the quality of service.
After all, what is the need to insure with a company that has no financial resources to pay the insurance claims?
At the end of the day, a consumer is only after cheap and quality auto insurance.
In addition, always check the financial strengths of the insurance companies and understand it before purchasing the premiums.
When applying for auto insurance, you ought to fill in a questionnaire to guide the insurance providers on the type of coverage you require and the rates you deserve.
Among the many questions, you will answer is the approximate number of miles you travel in a year.
The more the miles, the higher the rates.
You can use mass transit to achieve fewer miles so as to qualify for the discount provided.
Consult with your insurer’s beforehand to find out if there is a discount provided based on mileage.
Increase your deductibles
A deductible is basically the amount of money you have to pay before the insurance picks up, in the event of an accident, theft or any other damage.
The higher the deductible, the lower the annual premium!
Paying lower premiums can save on your cost, especially since you do not know what the future holds for you financially.
Improve your credit rating
Aside from a clean driving record, insurance companies focus on many other factors such as credit ratings.
This, however, does not apply to all insurance providers and states.
In states where credit ratings are a factor, work to improve on your credit to get better deals and qualify for discounts.
Review comprehensive coverage on old cars
Look at the coverages provided by the insurance company and if they suit your needs.
Weigh in your options and the benefits of taking up a certain cover.
Is it really worth it?
Should be the first question you should ask yourself before purchasing any package.
For instance, insuring an old car that’s on its last lap is a critical decision.
In case of a serious accident, the insurance company may opt to compensate for the whole cost of the car whose value is probably very low at the time instead of repairing the vehicle.
Discounts for special devices installed on the vehicle
Devices such as anti-theft devices, car alarms and Lo jacks can be an advantage to the consumer when it comes to discounts and calculations of premiums.
Such devices make work easier for the insurance company.
Consider having these devices installed to save your expenses and costs.
Find out of any additional discounts
Once in awhile, insurance providers offer a variety of discounts.
Consult with your agent or the insurance provider to get a hold of any available discounts by the company.
Do not let yourself get blinded by the discounts, rather still compare the discounted prices to the original prices of other insurance companies’ offers. Some of the available discounts can be;
- Payment of the annual or semi-annual premiums at once.
- Discounts based on membership of a particular organization or groups.
Some packages come with covers you may not be in need of such as car rental services.
At this point, you can ask your insurance provider to remove any cover you may not require and in turn reduce the premiums payable.
Having a defense driving course is an additional bonus in the quest to seek for a quality and affordable auto insurance.
Insurers believe that such courses minimize the risks they are about to take by insuring you.
Consult with your agent or insurance provider on the discounts provided based on taking such courses.
The cost of auto insurance keeps on rising as the day goes by.
There are many ways you can get affordable auto insurance as provided by the article. Get yourself insured and secured to protect your finances.