You may have good reasons to complain about the cost of auto insurance, but has tried to do something? If you are resourceful and willing to do a little work, there may be many ways to reduce your premium. And we're not necessarily talking small change - sometimes a few simple steps can save you hundreds of dollars per year.
One of your first step should be to shop for a better deal. Sometimes the best time to do this is when your current policy is due for renewal - especially if you find that your premium has increased. You might be surprised to learn that the premiums for the same coverage in the same car can vary widely among insurance companies, even in states that regulate auto insurance rates. This is because different companies have different forms of coverage and increases the rate factor. You can travel on your own phone and online, but is generally easier to have your agent or insurance broker to do the work for you.
Raise your deductibles
When you file a claim for loss or damage to your car will probably be tax deductible. This is the amount to be paid for out of my own pocket before the insurance begins to cover the losses (in different deductibles may apply to the collision and other-than-collision coverage). The higher the deductible, the lower annual premium. Themselves by increasing the collision deductible and / or other-than-collision coverage, you may be able to cut premium of 10 percent or more. The reason is simple: increase the proportion of deduction, the risk is transferred to you. If you decide to do this, but make sure you can afford the higher deductible if and when the time comes.
Downgrade your choice of car
New cars and high-end models are generally more expensive to insure than cars and low-end models. In addition, the cars evaluated on a scale of risk for insurance purposes. Sports cars and other high-performance vehicles are more at risk because they are targets for thieves and vandals, and usually costs a lot to repair. In addition, statistics show that people who own luxury cars tend to drive more dangerously. Other types of cars can be seen as security risks (eg if they are subject to transitions). So if you're in the market for a car, remember that you can save on insurance by buying a low risk or cheaper car.
Look into discounts
Depending on your circumstances, you may be eligible for one or more discounts on your auto insurance. These discounts can often times lead to substantial premium savings, so talk to your agent about any that might apply. Here are some ways to qualify for discounts:
Drive less: in case you drive less than a sure number of miles a year (e.g., 12,000), you may be eligible for a low-mileage discount. there's plenty of feasible ways to cut your mileage to qualify for this discount, such as taking the train to work in lieu of driving.
Drive more safely: You may be entitled to a safe driver discount in case you maintain a tidy driving record for a sure amount of time (usually two years). This generally means no accidents, drunk driving convictions, serious moving violations, or other infractions in the work of that time.
Add safety/antitheft devices: You may receive a discount if your automobile is equipped with safety features like antilock brakes, automatic stool belts, & airbags. Also, antitheft devices such as automobile alarms & tracking systems may get you a discount because we reduce the odds of theft & vandalism.
Check out rates by destination: in case you are moving or relocating, check out rate differences among your feasible new residences. often times a short distance can mean a giant difference in rates.
Keep your automobile in a garage: Housing your automobile in a garage may give you a slight break on your premium. That's because cars parked in garages are less likely to be stolen, vandalized, or struck by other vehicles.
Receive a multipolicy/multifamily discount: You may receive a discount from your insurance company in case you buy over one type of insurance from that same company (e.g., auto & homeowners). A discount may also apply in case you insure multiple cars under the same policyowner or with the same company.
Ask about other discounts: Other discounts may be obtainable in case you don't smoke, participate in a automobile pool, stay with the same company for numerous years, are over 50 years of age, have a covered kid who attends school at least 100 miles away, or meet other conditions.
Drop certain coverages
Some parts of collision and other-than collision coverage on your policy for damage to your own car accident and a variety of other causes. This coverage is optional in most states, does it make sense to have it? In most cases, yes. However, if you drive an older car worth less than $ 1,000, can be profitable to abandon this type of coverage. Why? Even if the car is stolen or totaled, the amount of money you want from your insurance company would be relatively low. In some cases, the amount you wish to receive much less of their expenses out of pocket for this coverage (premium and deductible). Another idea is to abandon all the terms you may be optional - weigh the cost of these items against their importance to you.
Lower coverage limits
Another way to reduce the premium is less than the amounts in dollars to cover some (even if the minimum requirements of State may apply). But be very careful. Having less than adequate number of insurance can be risky, especially in the coverage area of responsibility. It is recommended to maintain liability coverage as high as possible, because there may be the greatest losses. For example, if you hurt the people against you, claims, medical expenses and other costs can be substantial. It can be perceived as less coverage in other areas, but do not rush into these decisions just to save money - to discuss with your insurance agent or broker first.