Let's face it, an auto insurance company is a business that exists to make money, and if we aren't careful, we could end up paying super high premium rates when we could have paid much lower premiums if we had just done some research.
Here is a list of things that car owners can do to lower their insurance rates:
- Tools to keep car thieves away
Who would have thought that anti-theft devices could not only protect your car from thieves but also lower your insurance premium? There are many different kinds of theft devices. Some work on their own, while others need to be turned on and off by hand. All of these theft devices give extra discounts on insurance premiums. In some states, you might also get a discount on your premium if you draw on a window.
- Multiple car discount
Let's say, for the sake of this example, that you want to insure two cars with a car insurance company. Most of the time, you have to pay separate premiums for each car. However, did you know that you could save a lot on the premium for your second car? How? Talk to your insurance agent about what to do.
- Choose auto insurance policies that renew every year
When you buy an annual auto insurance policy, the premium rate stays the same for the whole year. This is better than buying a six-month policy, where the rates change every six months. If you buy a six-month policy, the premium you pay for the first half-year will not be the same as the premium you pay for the second year. So instead of saving money, you tend to pay more for the same amount of benefits.
- Coverage for all kinds of storage
If you want to store your car for a while, the comprehensive storage coverage is what you need. Keeping only the comprehensive coverage while you store your car is a great way to save money, since you won't need the other coverages. Since a car in the garage isn't likely to get into an accident, it doesn't need liability insurance.
- Distance
The number of miles your car travels every day is a big factor in how much you pay for insurance. This is because the number of miles determines which class your car is in. The rate for each class is different.
- Organization affiliation
There are a lot of auto insurance companies that will give you a discount if you belong to a certain group. Credit unions, college sororities and fraternities, and even just having a certain credit card can get you a big discount on your insurance premium. To be sure, call your service centre and ask for a list of the organisations they accredit. The same goes for credit cards.
- Course in defensive driving
Some auto insurance companies will give you big discounts just for taking a course on safe driving. Check with your state's insurance commissioner or your insurance company for more information and to see if you qualify, as well as to find out about their approved driving schools.
