Auto Insurance is one of the major spending. State law mandates drivers to have car insurance. Many drivers are paying too much in car insurance. I want your insurance bill to go down. So I have compiled below list of 10 hacks which will benefit you.
1) Enroll in Defensive Driving Class: There will be fewer accidents compared to other drivers who have not taken the course. So, the insurance company will provide you a discount if you have taken a defensive driving class. Nowadays you can easily enroll online with the fee of only $25. You could pay a little in class fees at the beginning but will enjoy savings in car insurance. In addition to that, you can also remove up to four points by taking this course.
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2) Multiple Vehicle Discount: If you have more than 1 vehicle at home then ask for multiple vehicle discounts. Insurance company is providing discounts for having multiple vehicles.
3) Increase Deductible: Higher the deductible lowers the rate and vice versa. You can get higher deductible now and use that savings while paying the deductible in the future. And if you do not have any accidents you will have savings as you do not have to pay the deductible.
4) Decrease Coverage: Sometimes insurance companies will give you a lot of unnecessary coverage which you might not need. Look carefully what you need and choose only those coverage. For example, you might be paying a lot of money in theft coverage already instead you can avoid the coverage by removing valuable items from your vehicle before you leave. Doing this will avoid additional coverage lowering insurance premiums.
5) Drive Safely: Safety is one of the important measures that the insurance company is looking to lower your bill. A good driving record of 5 years or more will lower your premium significantly. If you already have a record of violations then it's better to drive carefully and avoid adding more in the future.
6) Increase Credit Score: Always keep your credit score high by paying bills on time. If your credit score is low you might end up paying more than 50% of your premium.
7) Get your Auto Insurance With Home Insurance: Many insurance companies provide a lower premium if you combine auto and home insurance. Ask your insurance carrier about it and enjoy the savings.
8) Ask mileage based Insurance: If you do not drive the car frequently and have lower mileage per year then you may qualify for it. If you drive a lot and have high mileage it's better not to inform the insurance company to avoid increasing it to a higher rate.
9) Pay Premium Upfront: If you are paying monthly insurance then you have to pay a convenience fee. You can save convenience fee and get extra savings typically from $40 to $100 if you pay in a lump sum. Either way, you have to pay insurance fees, so it's better to separate funds for insurance and pay it up front to get savings.
10) Ask Discounts: Insurance companies usually provide discounts on certain safety features like anti-theft, or motorized seat belts. You can get reduced rates if you are student, senior citizen, military, and veterans depending upon the insurance company. So, it's better to ask your insurance company and find out if they offer those discounts.
We need to have car insurance does not mean that we need to pay a higher insurance rate. Whether you are young, old, experienced, inexperienced, or got into an accident, if you apply above tips then you can lower your insurance premium.
Thank you for reading this post. Please share this information with friends and family.
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