7 Insurance Tips for Lowering Your Car Insurance Premium

Raise Your Deductible

A deductible is the amount that you have to pay out of pocket before the insurance will pick up the payments. The disadvantage of raising your claim is when you make a claim, you will pay more. However, if you are a safe driver, you will overtime save more money by raising your insurance deductible. Look at your previous insurance claim history and make a discreet decision for yourself.  You may find that your insurance costs are cut in half when you raise your deductible.  This doesn’t make sense for everyone, but those who can will benefit.

Drop Unnecessary Coverage

The bottom line is that you shouldn’t carry more coverage than you need.  If your car isn’t worth much, you don’t need much coverage. You can visit a myriad of online sites to find true worth of your car. Additionally your insurance broker might be able to pull up the true worth of your vehicle.  Look into your options to lower coverage to match the worth of your vehicle.

Report Low Mileage

Ask for a discount if you drive less than 10,000 miles per year.  Insurance companies don’t have as much on the line when you aren’t driving much.  Each little discount adds up!

Consider the Cost of Moving
If you are considering moving, it will be a good idea to call your insurance agent and get his opinion on the insurance costs in the new city or state.

Choose a Low Profile Vehicle

The vehicle you drive will also determine your insurance premium. Some of the cars are favorite for thieves since they fetch a good price. Some cars are more expensive to repair. It makes a lot of sense to do adequate amount of research before you make your auto purchase.

Ensure Correct Information

Many manufacturers offer somewhat similar model names for vehicles but insurance costs may vary. Additionally 2 or 4 door or the wrong model can impact your auto insurance quote in a big way.

Ask for Discounts

A lot of companies will offer discounts if you and your spouse are insured with the same insurance company. Additionally, if you seek home insurance, life insurance, auto insurance from the same insurance company, you will get some discounts. It doesn’t hurt to ask for discounts because they can help you save.

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