There’s no doubt that car safety is key – knowing you’re secure and financially covered if you’re involved in a fender bender is comforting, to say the least. However, nothing’s more annoying than shelling out top dollar on car insurance premiums only to find that you don’t have adequate coverage when it comes time to make a claim.
The average car insurance cost can also be on the higher side. Trying to find cheap full coverage car insurance can be time-consuming and can be one of the causes of your migraine. Everyone who owns a car would love to get low car insurance for their car. How much does car insurance cost? This depends on various factors. There is no fixed rate for car insurance. Now, let’s learn how to get lower insurance for your car.
Revisit Your Coverage Policy Frequently
In the insurance industry, there’s considerable competition, which often means that prices shift for businesses to satisfy the demand and fluctuating business needs. Sometimes, even if you feel at home with an insurance provider, it’s quite likely that they’ve been slowly but surely increasing their premiums steadily, while others have been dropping their rates. What’s worse, they‘re getting away with it because most people don’t notice these small hikes in prices. It’s always a good idea to check in with your insurance company when your policy is up for renewal. Do this at the end of six months, just to check if there are any changes in insurance costs you may have missed out on.
Keep an Eye Out for Discounts
This one’s a relatively well-kept insurance industry secret that you probably won’t find out about unless you talk to the right people. If you happen to work for or have a relative who works for the government or military, you may be entitled to reduced car insurance rates. Senior citizens also get a reduction in insurance prices, and some companies offer lower premiums if you’ve taken additional driving lessons. So, when you’re at your next family gathering, ask around! It might make for a bland conversation starter, but it can quite likely gain you some of these “secret” discounts!
Compare Rates Online
Getting on your computer or phone’s browser and comparing car insurance rates is a sure shot way to make sure you get the cheapest possible rates on car insurance. Many sites allow you to pull up multiple insurance plans and compare them side by side so that you can make an informed decision that gets you the best offers available.
Improve Those Driving Skills
This one might seem like it’s a given, but good driving skills can go a long way in instilling confidence in insurance companies to reduce their rates for you. Reducing the number of incidents on your record, and you’ll see that your insurance provider will be happy to lower your rates! Besides this, some insurance firms now use car-mounted telematic equipment that tracks your driving performance and shares information with the company. This helps the insurance company monitor your driving at the time of any unfortunate incidents/accidents.
Get a More Experienced Driver on Your Policy
Were you aware that older, more seasoned drivers often have better insurance rates than young or inexperienced drivers, particularly those who have prevented accidents and road stops? If you are under the age of 25 or have a poor driving record, it may be helpful for you to ask an older person, such as your parents or an older sibling, to enter your scheme.
Pay Your Premiums Annually
Most insurance policyholders now opt to pay their premiums per month so that the payments are broken up. However, with this form of payment, you end up paying more in the long term. On the other hand, by paying your premiums upfront annually, you can easily save several hundred dollars a year.
In Conclusion
Car insurance is a necessary document that will take up a major financial burden for you in the event of an accident and the maintenance costs following it. Also, most states have mandatory policies and rules on car insurance. Though we cannot avoid paying the premiums, we can find insurers with cheaper instalments, and by following certain steps, such as paying the premiums annually, we will surely help not worry your pocket much. Instead of entering multiple sites of different insurers, you can use a single platform like Way.com for swift comparison of the premiums and coverages.
Renée Martin is a travel and car expert who focuses on road and air travel in the U.S. For the past 6 years, she’s been helping make driving and trip planning easier and budget-friendly for everyday travelers.
