Insurance is an important part of life that helps protect us from financial ruin. We’ll show you five simple tips that can help you lower your insurance costs.
Multi-car discounts
If you own more than one vehicle is better to insure them with the same insurance company. In this case, you may qualify for a multi-car discount. Most car insurance companies offer these discounts. It’s worth looking into if you have many vehicles.
When you fill out the quote form, you’ll provide information about the cars you own and who drives them. Some car insurance companies may ask who the primary driver for each car is. But most will apply any multi-vehicle discount to your quote. If you have more than one car in your household, be sure to get a multi-car insurance policy. It will save you money on your premiums.
The savings you’ll receive when buying a multi-car insurance policy varies by insurer. We found that most companies offer savings of up to 25% for insuring many vehicles with them.
Increase your deductibles
A deductible is an amount of money you would have to pay before insurance kicks in the event of a car accident, theft, or other damage to your vehicle. Deductibles usually range from $250-$1,000 depending on the policy. The lower the deductible the higher the annual premium will be.
If you raise your deductible, your annual premium will be lower. Ask your agent about how much money you could save by raising your deductible. You may be surprised by how much money you could put back in your pocket. If you’re hesitant to file smaller claims because you’re worried about pushing up your premium, raising the deductible is a smart move.
Improve your credit score rating
The driver’s record is a major factor in determining auto insurance costs. After all, a driver who has been in a lot of accidents is more likely to cost the insurance company more money. This is because drivers with good credit are less likely to file claims. They represent a lower risk to the insurance company.
Be aware that your credit rating can have an impact on your insurance premiums. Do everything you can to keep it high. Stable MARK can help you find out more on what the credit score rating is and how to check your credit report for free.
Discounts for installing anti-theft devices
It is in the best interest of car insurance companies to prevent your car from being stolen. This is because if your car is stolen, the insurance company will have to pay for it.
By installing theft prevention devices on your vehicle, you will get you discount from most insurers. 12 states (Florida, Illinois, Kentucky, Louisiana, Massachusetts, Minnesota, New Mexico, New York, Pennsylvania, Rhode Island, Texas, and Washington) require insurers to give you a discount. This discount is 15-20 percent.
Take a defensive driving course
Insurance companies offer discounts to drivers who complete a pre-approved defensive driving course. Drivers may be able to reduce the number of points on their licenses by taking defensive driving, accident prevention, or another course.
Before you sign up for a defensive driving course, be sure to check with your insurance agent or company to see if you are eligible for a discount. It is important to make sure that the effort and cost of the course will translate into significant savings on your insurance premiums. Additionally, make sure that the course you sign up for is accredited in your state. Every state has its own rules and regulations regarding accredited defensive driving courses.
Takeaway
As you can see, there are several ways to lower your car insurance costs. By taking advantage of discounts, shopping around, and being a safe driver, you can save a significant amount of money on your premium. So, don’t be discouraged if your rates are high – on stablemark.com you can find more tips on how to lower them and find cheap car insurance.
