6 Smart tips to lower your car insurance costs
Are you planning to purchase a car insurance policy? If yes, then it is essential to know about some effective tips that can help you save thousands of dollars on insurance. Go through this article to know about some tips that can help you lower your insurance cost comfortably.
Tips to lower your car insurance costs
Here are the 6 smart and easy tips that can help you lower your car insurance costs easily:
1. Enroll in a driving course: Various car insurance companies offer discounts to the consumers who have taken defensive driving courses. It is believed that those who take these driving courses are less likely to make accidents. Hence, the insurers charge lower premiums on drivers who have enrolled in defensive driving courses. Enrolling in a driving course doesn’t take much time and saves your dollars. So, before purchasing car insurance, make sure you get enrolled in a defensive driving course recognized by your insurer.
2. Compare the quotes: It is a known fact that different insurance companies charge different quotes. So, it is essential to shop around before purchasing a car insurance policy. You can get information on quotes from your insurer, insurance agent and from internet. It is better to compare minimum 3 price quotes in order to grab the best deal.
3. Raise your credit score: It is known to everybody that decent or high credit scores enable the consumers to get lower insurance rates. It may be the case that you don’t have a good credit score right now. Well, in this situation, you should work hard to raise your credit score. It may take few months to increase your credit score. But, once you have achieved that, you’ll be able to qualify for a cheap car insurance policy.
4. Go for higher deductible: If you have adequate funds, then it is advisable to go for a higher deductible. You may be surprised to know that this can help you lower your car insurance cost by as much as 15%.
5. Purchase safety equipments: Very few people know that they can lower their insurance cost by 5% to 40% by installing safety equipments in their cars. Yes, it is true that you can save hundreds of dollars by installing standard air bags (driver-side air bags, full-front air bags), daytime running lights, car alarms, anti-lock braking system and anti-theft system in your cherished car. So, install these equipments as soon as possible on your car.
6. Ride an inexpensive car: Car insurance companies charge higher premiums on consumers having sports, luxury, or expensive cars. The reason is, sports or luxury cars have high theft rates. Moreover, it is quite expensive to repair these cars. So, an easy tip to lower your insurance cost will be to purchase a small and inexpensive car.
Finally, you can take advantage of multi-policy discount and save thousands of dollars on your car insurance. There are several insurance companies that offer multi-policy discount to the consumers. All you need to do is purchase multiple insurance policies from the same insurer. As the insurance company is getting a hefty amount of money overall, they will charge lower insurance premium.
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