Are you tired of paying too much for your Auto Insurance Premium and you are looking for ways to lower it to a pocket size barest minimum? Auto insurance rates can spiral depending upon factors that include your age, past driving record, and other factors such as credit history. However, the trick is to find easy ways to lower the annual pay-off. We have draft up for you the 5 quickest ways to lower your Auto Insurance Premium. See how to lower your health insurance premium.
Stop trying to get the ‘lowest deductible’, instead go in for a comfortably higher out of pocket payment plan. ‘Deductible’ is the amount that you would pay before your insurance policy kicks in. This is an easy way to reduce your periodic premium amount, however, be warned, in such a case, if something happens to your vehicle – you need to shell out more to cover the initial expenses, prior to going in for a claim.
2: Park your vehicle in a garage
One of the simplest ways to cut down on auto insurance premium is to park your vehicle in a garage, personal or commercial establishments. This helps in knocking off, in some cases, close to 20% of the premium. In a garage, the chances of your vehicle getting stolen or sideswiped are considerably lower. From a transaction perspective, parking in a garage could mean a difference between a preferred rate and a standard rate.
3: Shop around and bargain
Nothing beats the traditional ‘shop around to bargain’. Make sure you at least have three to four price quotes with you, prior to fixing on the service provider. Ensure that you are not shopping for price alone, but the whole deal.
4: Take a Defensive Driving Course
Not many people are aware of this. By volunteering for a state-approved defensive driving course, you can avail discounts in premium of up to 10%. However, do cross check with your insurer on this.
5: Downsizing Coverage – Auto Insurance Premium
Well, downsizing coverage is perhaps the easiest way to lower your auto insurance premium. However, we suggest you to be careful and prudent, while taking this decision. This might save money, but, would also limit coverage.