6 Ways to Pay Less Premium on Car Insurance
There is no going around carrying car insurance but you do not have to pay too much every time. You can pay less premium by practicing certain strategies. Check them out below and start saving more money today.
1. Reduce your coverage.
How long have you been driving your car? As vehicles age, the need to insure against damage to the car diminishes. In fact, there are cases when the premium you pay for comprehensive and collision coverages, plus the deductible, outstrip the value of the car itself. Remember that the value of the car is the most you can be reimbursed through these coverages. Consider dropping them to pay less premium on your car insurance.
2. Grab your discounts.
Car insurance companies have a list of discounts available to customers. Some are obvious, while others are surprising. Contact your carrier and ask about what discounts they offer. These may include discounts for: affinity, accident free, good student, multiple policies, multiple vehicles, new vehicles, and paperless.
3. Pay by the mile.
This is not available in all states, but check with yours because it is a good strategy to pay less on car insurance premiums. Paying by the mile can reduce both the miles you drive and the premiums you pay. Find out the rules in your state and discuss with your agent to get a quote.
4. Compare your existing rate every year.
Obtaining a good rate on car insurance is just the start. Every year, compare prices and look for cheaper options out there. Rates move up and down continuously and you may be missing out on new offers where you pay less on car insurance. You can do it online and it will not affect your credit score.
5. Consider paying every six months.
You can save money on premium by paying semi-annually. You can opt to pay the six-month premium in full or make monthly installments. Some carriers offer discounts when you pay in full.
6. Practice good driving habits.
Avoiding accidents and tickets can help lower your premiums. Driving safely every time can further reduce your costs. Let your carrier monitor your driving habits and pay less premium on your car insurance. You just plug a device into your car and it monitors your driving. Based on the results, you can see a significant decrease in the cost of your car insurance and pay less premium!