What are Some Ways to Lower Auto Insurance Rates?
Tips to lower auto insurance rates.
Most people are trying to be frugal these days, which has led many automobile owners looking at ways that they can save money by reducing their car insurance costs. The good news is getting cheaper car insurance – without sacrificing quality coverage – is possible. Let’s look at several strategies you can employ that will help you lower auto insurance rates for your current and future vehicles.
Compare Rates Between Companies
Start by selecting a few different insurance companies and comparing their rates. The most important factor here is to make sure that these comparisons in include all the same details. Even one different element can throw everything out of whack. It’s also a good idea to check customer reviews and investigate their overall company history.
Consider Rates When Buying a Vehicle
Purchasing a new vehicle is exciting, but many people don’t consider how much car insurance rates can differ when they’re “in the moment.” Many people do their research on which car they want to purchase but they don’t compare insurance rates right away. Before signing on the dotted line, make sure that you’ve compared rates and discussed it with an insurance agent.
Increase Insurance Policy’s Deductible
As most people are probably already aware, an insurance deductible refers to the amount of money it will cost you out-of-pocket before any claim coverage kicks in. Increasing your deductible will automatically lower your insurance premiums, which can be very beneficial. You should consider whether you would be able to pay these higher deductibles in the event of an accident.
Purchase Multiple Policies from an Insurer
Like other companies, insurance agencies want you to do as much business with them as possible. Purchasing multiple policies from the same insurance company will provide you with a discount. This includes multi-vehicle coverage, homeowners’ insurance, life insurance, and other policies. Plus, when you have all your policies at one place, you have fewer people to deal with whenever a question or claim comes up.
Always Be a Safe and Cautious Driver
Moving violations are a surefire way to increase your insurance rates and will continue to affect them for at least a few years depending on the type of violation. The best way to maintain a clean driving record is to simply be always a safe and cautious driver. It also doesn’t hurt to attend a defensive driving course every few years to give you a bit of a refresher.
Reduce Coverage on Older Vehicles
Many auto owners with older vehicles tend to have more insurance than they need. This is especially true when you’ve had the same vehicle for a while and it’s simply not worth as much as it has been in the past. Speak to your insurance agent about dropping collision and/or comprehensive coverage on an aging car to see if that would be a good option.
Take Steps to Lower Your Mileage
One element that insurance companies take into consideration when calculating your rates is the number of miles you drive your vehicle each year. The idea here is that the less you drive, the lower your chances of getting into an accident and filing a claim. You can lower your mileage by working from home, riding a bike a few times a week, or taking mass transit whenever you can.
Pay Attention to Your Credit Rating
Depending on the insurance company, your credit history may be a determining factor in your insurance rates. This could be a bigger issue in the future given the financial issues that people have had during the pandemic, so now it’s more important than ever that you monitor your rating. If there are any negative marks, try to get those corrected whenever possible.
Ask About Other Discount Opportunities
There are many car insurance premium discounts available from most insurance companies that policyholders may not know about. Potential discounts include anti-theft devices, customer longevity, attendance of a defensive driving course, type of coverage, and others. It never hurts to reach out to your insurance agent to ask them about these discounts and to receive a new insurance quote based on any new factors.
Contact Coleman Insurance for Lower Auto Insurance Rates
Coleman Insurance Agency is the leading provider of insurance coverage for homes, businesses, vehicles, and more. If you have any questions about car insurance in Clearwater or any other insurance needs, reach out by calling (727) 441-9911 today to schedule car insurance quote.
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