Are you looking for ways to lower your Auto Insurance Premium?
Car insurance premiums can escalate, depending on factors that include your age, past driving record, and even your credit history. However, the trick is to find ways to lower your annual pay-off. Through intensive research, we can now give you the 5 quickest ways to lower your Auto Insurance Premium.
Auto Insurance Tip 1: Increase your deductible or excess
Deductible or Excess is the amount that you would pay before your insurance policy starts paying. Stop trying to pay the lowest deductible. Rather go for a higher out of pocket payment plan that you can comfortably afford. This is an easy way to reduce your premium amount. However, be aware of the fact that if something happens to your vehicle – you need to pay out the Excess or Deductible amount determined by you to cover the initial expenses.
Auto Insurance Tip 2: Park your vehicle in a garage overnight
One of the simplest ways to cut down on insurance premium is to park your vehicle in a garage overnight. This may cut up to 20% of your premium. In a garage, the chances of your vehicle getting stolen or damaged are considerably lower. Parking in a garage could mean a difference between a preferred rate and a standard rate.
Auto Insurance Tip 3: Shop around and bargain for Auto Insurance
Make sure that you have at least three to four auto insurance quotes before making your decision. Ensure that you are not shopping for price alone, but the whole deal, including auto insurance products available and the claim pay-out history of Insurance Providers.
Auto Insurance Tip 4: Take a Defensive Driving Course
By undergoing an approved advanced or defensive driving course, you can obtain discounts on your premium of up to 10%. First affirm this information with your Car Insurance Provider, as insurance packages vary.
Auto Insurance Tip 5: Downsizing Auto Coverage
Downsizing your car insurance coverage is the easiest way to lower your premium. Keep in mind that Insurance Providers require comprehensive cover for financed vehicles. If you drive an older car, you may opt for Third Party, Fire & Theft cover, which excludes accidental damage to your own vehicle. Third Party Only cover is suitable for older cars that are already paid off.
We trust that this information was helpful. Please fee free to leave a comment.
This article originally posted on http://insuretodayblog.com/and re-posted here with permission.