Nobody really likes shelling out the money for their many insurance policies, but we certainly like the financial protection these policies afford us down the line. And while you might pay several hundred dollars a year to insure your automobile, the one time you find yourself in an accident where you’re insurance has to pay for medical bills and property damage, it will likely make every penny you paid towards insurance over the years well worth it. You could end up getting your money back and then some. Still, you might never have an accident. Either way, you don’t want to pay any more than you have to in order to maintain appropriate coverage. So here are just a few easy and effective ways to keep your car insurance premiums low.
The first thing you need to realize is that how you drive can affect your premiums, and this is one factor that is 100% within your control. You can’t do anything about your age, your gender, or many of the other factors that influence insurance rates but you can definitely decide how you’re going to behave when you get behind the wheel of your car. And if you’re speeding, blowing stop signs, driving drunk, texting while driving, and engaging in other risky behavior, you could wind up with tickets or even accidents before long, both of which will impact your auto insurance premiums. So keep the road safer for yourself and everyone else by driving in a responsible manner and following the rules of the road. Many insurance providers will reward you for your efforts with lower rates.
Next you should address the car you drive. The value of your vehicle is inextricably linked to the cost of insurance because your provider is planning for repair or replacement value in the event of an accident – it’s the main reason you have insurance in the first place. So it’s not hard to figure out that a brand new, luxury car is going to come with higher insurance premiums than a used, economy vehicle, just for example. Of course, you probably like the notion of driving a reliable vehicle that has a warranty. In this case you should think about striking a balance, say by purchasing a certified, pre-owned vehicle. This way you can enjoy the benefits of a new car without the new car price or the highest rates for auto insurance.
You can also lower costs through the policy you choose to carry. If you’re paying down a loan, you’ll find the most lenders require you to carry full coverage (and possibly gap) insurance. They want to get a full payout if you total your car. But once you’ve paid your loan you could switch to liability, if you prefer, in order to secure a lower rate. If you’re a very safe driver, you might also want to get a plan with a higher deductible. You’ll pay more in the event of an accident, but you’ll get lower auto insurance premiumsalong the way. And of course, you need to comparison shop for providers and policies to find the company that offers the best coverage, the best rates, and the most discounts, as well as the right options for your particular needs, even if that means seeking out a reputable provider like Great West Casualty Company that specializes in commercial trucking. With some leg work on your end you should have no trouble finding ways to lower your premiums and still get the automobile insurance coverage you need.