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Twelve Car Insurance Money Saving Tips for Much Cheaper Premiums

We all like to save money. It does not matter if you live a simple life with little extra money, or if you have more money than you know what to do with. Saving money is in our blood, especially when it comes to insurance. Car insurance is one of those expenses that we must all deal with, though, so any way to save some money should be taken advantage of.

 Follow the steps below to make sure you are getting the lowest premiums possible, while still getting the coverage that you need.

Discounts

There are many ways to get discounts. Your age, your marital status, where you work and live, clubs that you are affiliated with, how many cars you have, and others. Your agent will usually not offer any information on them so be sure to ask if there are any available for you to use.

Safe Driver

Throughout your driving history you need to drive safely. Defensive driving is something that we have all been taught, but many do not follow. Your premiums will be less if you drive safer.

Tracking Software

Speaking of safe driving, let your insurance company track how you drive. Some companies will offer you equipment to install on your vehicle, others will use applications that can be found on your mobile device.

Driving Course

There are numerous defensive driving courses that you can take which will show the insurance company that you are serious about being safe. This should get you a discount on your premium.

Compare

The most important thing that you can do is to compare car insurance policies with numerous companies. Using an online platform that compares them for you is one of the best ways but remember that you still need to go through the contracts that are being offered to you. No point in getting an excellent rate if it does not cover you and your vehicle.

Vehicle

You need to evaluate the type of vehicle that you have. When planning to buy a new one, get model that has high safety ratings. Better yet, buy a used one. The newer the car, unless it is a classic, the higher the premiums will be.

Coverage You Need

There is no reason to pay for a high coverage amount if you drive around in an old beater car. Match your coverage amount to your needs by evaluating your vehicle, your budget, and your ability to pay for repairs on your own. Sometimes an insurance policy will cost more than replacing your car, meaning you do not need anything more than the amount of coverage required by law.

Upgrades

Your policy will have sections added on that are normally part of the package that you have chosen. Go through them all and delete any that you do not need. For instance, if you never use roadside assistance there is no point in paying for it.

Premiums

The higher your premium is the less your deductible will be. So, if you want to lower your premium amounts, you will want to increase your deductible. The opposite is true if you want a lower deductible. 

Billed Amounts

Insurance companies will offer you the option of paying by the month, or year. Always pay for the entire year if you can because it will give you a slight savings. If you want the luxury of paying every month, the insurance company will charge you more overall for carrying the contract.

Claims

It is never necessary to file a claim. If you get a rock chip, get it fixed on your own without filing a claim. Every claim that you make will affect your premium due to the risk number that is assigned to you. If it is not necessary to file a claim, repair it yourself.

Annual Review

Follow these steps every year when your contract comes due. Getting a great deal one year may be how the company got your business, and to make up for it they may increase your premiums. And of course, companies will run sales and discount options for new customers. Review your options every year and choose the best one.

Cheaper Premiums Can Be Yours!

These twelve aspects of you and your life need to be analyzed every year. Some of them you can prevent, or make better, while others are out of your control. Either way, though, they will be held against you so do what you can to improve your risk scores.