Figure 1 car insurance car
Part of taking good care of your car has to do with securing the best insurance policy to cover you from any risks that come with driving. As a car owner, you must know how high the car insurance bill can go when it comes to maintaining your vehicle over a couple of years. It is why all car owners, at one point, consider reducing the costs of their car insurance. Luckily, there is a way to go about it. Here are several tips that will help you maintain a manageable car insurance bill:
Reduce coverage on older cars
If you have several older vehicles that still deduct some money from your car insurance, consider reducing their cost. Eliminate the collision coverage of all your older cars, which covers quite a large percentage of your total car insurance. This cost covers the damage you cause on your vehicles, which is not really important if you are dealing with a car that is worth 10 or more times less than the premium coverage cost.
Buy a Safe Car
Figure 2 safe car
With old cars out of the way, think about investing in a safe car. A safe car comes with several features that help reduce impact when an accident occurs. Such features include airbags, automatic seat belts, anti-lock brakes, and electronic stability controls, to mention a few. You can even ask for a discount for making a smart choice on the car you bought.
If you are just getting your car covered, make sure you shop around before you land on the company that will give you the insurance cover. Luckily, an insurance company will offer you free vehicle history to help you determine the needs you have. The good thing is that you can even do your research online to compare prices between different insurance offers.
Raise Your Deductible
A high deductible, which is what you pay when you are making a claim and right before your insurance starts, will reduce your auto premium drastically, more especially when it comes to collision and comprehensive coverage. However, before you raise your deductible, decide on how much you are willing to spare one-off in, you have a claim. Bottom-line, the higher the deductible, the more you save on your coverage.
Have the same insurer
Figure 3 multi-policy discount
When it comes to securing insurance, there is an advantage to using a multi-insurer than can cover more than just one of your cars. If they have different types of insurance, including housing and renting, then get all of it from one company. Usually, such companies have multi-line discounts for loyal customers who buy more than one type of insurance cover. Besides, if you are consistent with the insurance plans, you can solicit for reduced rates from the insurer. However, even with an excellent multi-policy discount, shop around before making a decision. You may find it cheaper to get yourself covered by different companies for different needs.
Capitalize on low mileage discounts
Did you know that you do not have to spend the same amount of money on insurance as people who drive a lot? If you are not a frequent driver, then it means your car is off the road more times than it is on it. In such a case, you can tap on the low mileage discounts, given that you are at fewer risks for accidents. This policy can also apply for people who carpool very often.
Inquire about group insurance
If the company you are insured with have an offer for group insurance, then take advantage of it. Some companies allow for this, especially for drivers who have a plan under one employer. The costs are usually subsidized because of the large number of clients.