How do I reduce my car insurance bill?
Last time we covered claims that raise your insurance. But you might be asking yourself, “how do I lower my car insurance rates?”
1.) Shop your coverage
a. Shopping around for coverage is an important step to lowering your premiums because different insurers rate risk differently. This means that premiums can vary dramatically so always make sure you’re comparing when comparing deductibles and coverage levels.
b. If your insurance rates go up, then compare with at least three other companies to see if you can find a more affordable rate.
2.) Fight the ticket
a. If you receive a major ticket like reckless driving, then consult with an attorney to have the ticket reduced. This applies even for speeding tickets as doing this will keep points off your license and this is key to maintaining low premiums.
3.) Raise your deductible
a. Increasing your deductible is an effective way to reduce your premium. An example of this is if you raise your deductible from $500 to $1,000 you could save $125 a year.
b. One thing to note is always choose a deductible that you can afford in the event you have to make a claim.
4.) Apply discounts
a. There are many discounts available for insurance. These range from multi-car discounts, good student discounts, or even purchasing your homeowner’s insurance from the same insurance provider.
5.) Teen Driver
a. Good Student discounts, defensive driving courses, and purchasing a safe and older car are all ways to reduce your premiums if you have a teen driver on your policy.