With the prices of car insurance rising almost every year, many drivers are finding it harder than ever to lower their rates or to find a deal on their vehicle insurance. If you have low rates and want to make sure they stay that way, or if you have increasing rates and you want to lower them, then take these six tips into consideration. Each will help drivers to lower the costs of their car insurance over time.
1. Change Your Deductible
A deductible is the amount that a driver needs to pay before their auto insurance policy begins to cover the related costs of an accident, theft, or maintenance. By increasing your deductible, you can significantly lower your monthly fees. Although it will be more expensive in the event of an accident, safe drivers can typically save money over time.
2. Switch Providers
The easiest and most popular way to reduce the amount of auto insurance you pay each month is simply to switch to a new insurance provider. If you have been insured by the same company for years and have had them raise your rates regularly, call a competitor and ask how much they can help you save. Many families are able to save hundreds of dollars each year with a simple phone call.
3. Compare Policies
Even if you are happy with your current provider, you don’t have to stick with your existing policy. For example, you might be paying significantly more for a comprehensive coverage that you don’t really need.
4. Drive Less
Most insurance providers base their fee models off an average weekly mileage. If you carpool to work regularly or use public transportation, contact your insurance provider to let them know. If you drop from driving 300 miles each week to driving 60 miles each week, for example, you are significantly reducing the wear and tear on your car, the chance of an accident, and the chance of theft. Reduced time spent behind the wheel can result in some significant monthly savings for you as a driver.
5. Trade In Your Vehicle for a Safer Model
Since certain cars are considered to be more reliable and safer than others, the car you drive plays a big role in your insurance payments each month. To reduce your payments, think about switching your vehicle to a safer model.
6. Inform Your Provider About Any Recent Changes
It is up to you to inform your insurance provider about any major changes that might play a role in determining your credit score. Getting married, finding a full time job, turning 25, or significantly improving your credit score can all mean lower fees for your insurance policy each month, so be sure to contact your provider to let them know about these changes as soon as they happen.
Lowering your auto insurance fees can be a great way to save money each month. Use as many of these tips as possible to reduce what you spend on your vehicle insurance policy.
Mitch Sturgis is a freelance blogger who writes on behalf of carinsurance.org.uk. You can visit the website to compare car insurance policies from different companies.