Seven Ways to Lower Your Auto Insurance Costs
LISTED BELOW ARE MULTIPLE WAYS TO REDUCE YOUR INSURANCE RATES!!!
1. MAINTAIN A GOOD DRIVING RECORD
Accidents happen and just about everyone will receive a moving violation at some point in there lifetime. However, your driving record is one of the first things an insurance company takes into account when determining an insurance rate and, unfortunately, those moving violations can count against you. So try to be as cautious as possible!
2. MAINTAIN YOUR INSURANCE COVERAGE
It’s the law to have, at a minimum liability coverage, and yet sometimes people fall behind allowing their policy to cancel, only to face higher premium than they began with in the first place. This is mostly due to loss of previous insurance discounts and being subject to new rates. Keeping your insurance in force will allow you to take advantage of continuous coverage discounts with your current carrier and also with a new carrier, should you feel the need to shop around. In a nut shell, you must be a preferred customer to receive preferred rates.
3. SHOP AROUND
Your insurance premium is typically locked into a rate for the term of your policy. So, it’s a good idea to shop your rate with as many agencies and carriers as possible as the expiration of your policy nears. Safeway Insurance Agency has over 15 different insurance carriers to shop your auto insurance needs. So be sure to ask us for a quote today!
4. REDUCE COVERAGE ON OLDER CARS
Most cars depreciate over time, which means it isn’t always in your best interest to carry full coverage on an older vehicle. You can always look up a rough estimate on the value of your car at sites like Kelley’s Blue Book (www.kbb.com). Take a look at your premium vs. the value of the car and ask yourself is it worth while to fully insure you car?
5. BEFORE YOU BY A CAR, COMPARE INSURANCE COSTS
Too often people will purchase a vehicle without first shopping the insurance rates. There is nothing worse than discovering your monthly insurance premium is as much or even higher than your car payment. Be sure to let your agent know if you are in the market for a newer vehicle. Don’t hesitate to have them shop multiple models so you can select the car that will best suit your budget.
6. MAINTAIN A GOOD CREDIT RECORD
Establishing a solid credit history won’t just help you with lower interest rates when obtaining a loan, but also keeps your insurance premium down. Most insurance companies take a look at your credit history- those with favorable credit receive more favorable rates, while those without do not. Here again, to achieve preferred rates you must be a preferred customer.
7. OTHER DISCOUNTS
There are all sorts of discounts that will help reduce you insurance premium. Most of these are discussed when you purchase your policy, but things change. For instance, you could get married, or purchase a home after obtaining insurance. So be sure to inform your agent of these life changing events, so he or she can take these into account and apply any applicable discounts to your policy!