Are you tired of your car insurance rates spinning out of control? If so, then you’re like most people who are looking for ways that they can get a better deal on their car insurance. Here are six different ways that you can get discounts to lower your premiums.
#1: Shop Around
Unfortunately, car insurance companies don’t reward loyalty, and in fact, they even penalize you. If they think you’re less likely to shop around, they will often charge you more just because you’re not paying attention to better prices.
#2: Pay Your Bills on Time
Higher insurance rates have been linked to low credit scores because the people with low credit scores tend to get into more accidents, which puts them at a higher risk. This practice has only been banned in states like California, Hawaii and Massachusetts.
#3: Get an Older Vehicle
Now granted, this might not be the choice for everyone. Some people need a new vehicle because it will be more dependable, and their job requires it. However, new cars cost more to insure, and they will be more expensive in the long run. At the least, you should call your insurance agent and ask them what this new car will cost to insure. In that way, you haven’t bought a car that you can’t afford to insure.
#4: Install Certain Safety Equipment
Having specific safety equipment installed in your vehicle can help to get you a discount on your purchase. It depends on the insurance company, but discounts have been offered for:
- Anti-lock brakes
- Passive restraint
- Anti-theft protection device
#5: Skip Comprehensive Coverage and Collision Insurance for Older Cars
Comprehensive coverage on older vehicles will pay for the repairs of the damage on your vehicle once an accident has happened. This coverage will take care of floods, crashes, fires, and vandalism. In addition, it will cover the theft of the vehicle. Unfortunately, the maximum payout that you will get for these policies will be limited based on the value of your vehicle. For example, if you have an older car, it will usually have a lower market value, and it may not make sense for you to pay extra for this coverage.
#6: Do You Have a Family?
If you happen to have a family, you can ask for a multi-car discount. In some cases, insuring two vehicles or more can cost about the same as insuring one vehicle. In many cases, however, you will have to ask for it in advance. Another trick that you might use would be if you were to keep one car on liability insurance to receive the multiple car discount.
These are some of the tips and tricks that you can use to manage better discounts on your vehicle’s car insurance. With the cost of car insurance continuing to rise, you have to try to get discounts wherever possible.