The three Greatest Methods To Decrease Your Automotive Insurance Premium – EconoTimes
The cost of owning a car just keeps increasing. For many people, transport is usually the second largest cost factor after living. Sometimes one of the biggest costs associated with owning a car is insurance.
The overpayment for insurance appears to be as it is and not changing. The reality is that there is a lot of wiggle room in how much you pay. There are actually ways to cut your costs and save some money.
In this article, we're going to cover some of the best ways to save on auto insurance.
1- Shop around
One of the biggest mistakes in auto insurance is that they use the first quote from an insurance company. Failure to look around can cost hundreds of dollars. While you may be lucky enough to pay the lowest possible premium for your coverage, you will never know if you don't look around.
Finding the best auto insurance shouldn't take too long, but it does take some time to make a few calls before deciding which one to choose. Comparing quotes online can work, but sometimes it's best to give a company a call. An operator can do a bit of poking around and will often find the best ways to lower your offer.
Insurance companies are very interested in stealing a customer from another company, so let them know how much you are currently paying. They often find a way to lower your premium so that you are more likely to switch to them.
2 – Check your coverage
People almost always pay for more coverage than they need. For example, if you are financing a new car, you will need to take out the maximum policy. Once you finish paying for the car, you no longer have to pay for such an expensive policy.
Read the policy to see what you're paying for, and you'll likely find features you can forgo. Roadside assistance is generally not worth it as you can sign up for AAA and save money.
You may want to cut the collision amount or even get rid of theft insurance altogether if your car is unlikely to be stolen.
3 – change driving habits
The longer you drive without an accident or speed limit, the lower your premiums will be from year to year. Better driving saves you money in many ways. Your tires will last longer if you corner more carefully and not have an accident or traffic ticket saves a lot of money.
There are devices that can be plugged into your car's internal computer that are provided by the insurance company to monitor your driving. By driving the speed limit and not aggressively starting and stopping, you are showing the insurance company that you are less likely to get into an accident. With these devices you can reduce your insurance premium even further.
This article does not necessarily reflect the opinion of the editors or management of EconoTimes.