May 19, 2020
This article explains how you can decrease the cost of your auto insurance plan, without compromising on coverage.
Auto insurance premiums are based in part on the value of the car, the cost of maintaining it, its efficacy record, and the risk of theft. Many insurers offer discounts on services that reduce the risk of accident or theft.
By asking for higher deductibles, you can substantially reduce your costs. If you take a higher limit, it can help you overcome the deductible faster.
Consider eliminating coverage for older vehicles. If your car is worth less than 10 times its premium, purchasing coverage may not be the best choice.
Many insurers will offer you a cheaper rate if you buy two or more types of insurance. You can also receive a discount if you have more than one vehicle insured with the same insurer. Many insurers reduce long-term premium rates as well.
Insurers use credit records for auto insurance pricing. To maintain your credit status, pay your bills on time, don't get more credit than you need, and keep your credit balances as low as possible.
Some insurers give discounts to motorists who travel fewer than average miles a year.
Many insurers give discounts to drivers who seek benefits from a group package from their employers, industry, and alumni organizations or other associations.
Organizations give discounts to enrollees who have had no injuries or violations for a number of years.
