If you’re worried about the rising cost of your auto insurance premiums, or just looking for ways to save a little money each month, read on for some tips to keep those monthly payments as low as possible.
1. Choose your car wisely. You’re probably already aware that a brand the cost of mechanical repairs. Before purchasing a car, get a quote on the insurance – unless you like surprises.
2. Get an anti-theft device. If you do want that pricey sports car, get an anti-theft device. Some insurers will give you a break on your insurance if the car is more difficult to steal.
3. Maintain a good driving record. This is the most important factor in figuring your insurance premium. Someone who has past speeding tickets or at-fault accidents is going to pay a lot more for insurance than someone with a clean driving record.
4. Drive less. Insurance companies calculate risk based on many factors, and insurance, while doing the environment a huge favor at the same time.
5. Shop around. Since rates can vary – sometimes significantly – from one insurance company to another, compare rates with at least three insurance companies before choosing a policy.
6. Stick with your agent. Once you do choose that policy, stick with the same insurer for the long haul. Occasionally it might be tempting to switch and save a couple dollars, but that will almost always backfire when you miss out on big discounts for loyal customers who stick around for years.
7. Insure all your cars with the same provider. Most insurers give a discount if you insure all of your vehicles with them.
8. Bundle up! While you’re insuring all of your vehicles in the same place, consider the significant discounts you can get by bundling your homeowner’s, life, and other types of insurance with the same company.
9. Make payments on time. If your policy is canceled for late or non-payment, it will be harder (more expensive) to get insurance with another provider.