It’s NOT difficult to find very affordable quotes and pay much less for the right coverage once you understand the steps to take. This article will show you steps you can take to pay less without compromising the quality of coverage you enjoy…
1. Electronic Funds Transfer (EFT) is a simple way to reduce your premium. By doing this you authorize your insurance provider to automatically withdraw your premiums from your account when due. This saves your insurer in many ways such as eliminating the cost of mailing payment notices and the cost associated with processing checks. An insurance carrier passes part of what they save to you by offering you a lower rates.
2. It’s a known fact that young drivers attract high rates. Even in this age bracket, a 23-year old driver will pay much less than a 17 year old all other things being equal.
So you’ll do well to NOT place your teenage driver on your policy. You’ll be made to pay very high rates if you do otherwise. Sign an exclusion form that will allow your teen driver have his or her own policy.
It’s a fair price for them to pay to enjoy the adult privilege of driving. Teens who pay for their own auto insurance are more willing to take steps to bring it down. Your teen will also be safer as the steps that will bring down his/her rates will make her a more responsible behind wheels.
Find cheap car insurance for teens.
3. You’ll save by being loyal to an insurer due to the long term discount and accident forgiveness which they give to long-standing policy holders. Some insurers will give you up to 5% in discounts once you’ve been with them for up to three years while others will give you such a discount only when you’ve stayed for up to five.
Furthermore, if a long term policy holder files just one claim, most insurers will NOT raise their rates thereafter. Insurers offer these as incentives to keep you with them since it serves them better too.
Just bear in mind that some people will be better off if they switched to another insurer notwithstanding the many discounts given to long term policy holders.
4. Add-ons like towing raise your premium without giving you as much value as using a towing service. Have you checked to see if your credit card doesn’t already offer this as added value?
Overall, you’re better off using a third pary towing service than placing it on your auto insurance policy.
5. Don’t make the mistake of parking your car in places where it won’t be safe. Is there a risk of theft, vandalism or accidental damage where you park your car? Then look for a better place as doing otherwise might lead to a claim that will eventually increase your rate. I hope you also know that you’ll pay less if you have a garage for your car.
And, lest I forget, if you drive out in the night do your best to have your car parked in a well-lit area. That will deter thieves. .And for no reason should you leave your car in the open street for a whole night.
6. You can lower your auto insurance premium by obtaining and comparing quotes from at least five reputable insurance quotes sites.
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