Wouldn’t it be nice if you could reduce your car insurance premium? Well, you can. And you can do it today!
Car insurance is expensive. That’s just the way that things go. There are a lot of things about it that you have no control over, things that no one has any control over.
These uncontrollable factors are things like age. An eighteen year old driver will have to pay considerably more for their premium than a sixty-five year old driver. This is true even when the eighteen year old is a much better driver than the sixty-five year old.
However, there are many things about car insurance that you can control. In fact, there are several ways that you can lower the premium on your auto insurance. A few of them are even easy to do.
The easiest ways to reduce your premium today are discussed in greater detail below. They play in to the formula that auto insurance companies use to figure out how much they are going to charge you. Enjoy!
Better Your Driving Habits
I know it might be hard to believe but changing your driving habits is the number one way to reduce your premium as quickly as possible.
The best way to start is by driving well. A good, clean driving record is among the top factors that auto insurance companies take into consideration when figuring out how much to charge you. Cleaning up your act and driving as safely, defensively, and conscientiously as possible starting today will work wonders on lowering your insurance costs.
Though most auto insurance companies take your past three years (some take your past five years) of driving history into account, a single accident or major traffic violation can ruin you for an ever longer time. So why wouldn’t you start driving like an angel right away?
Another driving habit that you can change that will help you lower your premium is the number of miles that you drive in a day. Many auto insurance companies give killer deals to those who drive fewer miles.
Look at it this way: the fewer miles you drive, the lower your risk of getting into an accident. The lower the risk of you getting into an accident, the lower the chances of your auto insurance company having to dish out money on your behalf. And it benefits you too. You pay a reduced premium in addition to saving money on fuel and maintenance.
So how exactly do you reduce the number of miles that you drive in a day? This part is not so easy. Many of us drive a hefty amount of miles per day solely because we need to commute to our jobs.
The easiest way to reduce your miles is to cut the amount of driving you do outside of commuting. Walk, ride your bicycle, or take public transportation when possible. Even doing these few small things and reducing your mileage by a few miles per day can reduce your premium.
Want a bigger bang? Move closer to work. If you can cut down considerably on the amount of miles that you drive daily, and have proof of it, you can probably find a much cheaper auto insurance premium from your insurance company.
The final route you can take regarding miles per day is to actually figure out how many miles you drive. Many insurance companies don’t tell their customers straight away about these programs. If you ask them about it and know how far you drive already, you might just find that they have a deal waiting for you that you wouldn’t have known about without asking.
Consider Your Vehicle
Simply considering the vehicle and the insurance policies that you currently have can potentially save you big money on your car insurance premiums. There is no point in making a financial decision that just doesn’t make sense.
The first thing that you can consider is your state’s liability coverage minimum. This is the minimum amount of collision and comprehensive coverage that you are required by law to have.
While it isn’t the best idea to just take the minimum to save money, it is, in fact, a way of cutting back on premium prices. In addition, older cars, vehicles that have a lesser value, might not need all of the insurance that you currently have on them. Take this into account and figure out how low you can go in terms of lowering your coverage.
Keep it in mind that there is a risk in lowering your coverage. If you are in an accident, you will have to pay more out of pocket without better than minimum coverage.
Another thing that you can do is take a look at your deductible. Increasing your deductible can actually lower your insurance premium by as much as twenty-five percent. This can be a good bet for those with older vehicles with lower values.
Reduce Your Car Insurance Premium Fast!
As you can see, reducing the premium on your car insurance certainly is possible. In review, you can:
- Drive more safely and more cautiously
- Drive fewer miles
- Consider lowering your coverage
- Consider increasing your deductible
If you do one or all of these things (depending on your situation), you should be able to experience a lowered car insurance premium in no time at all.