Are you looking for ways to lower your auto insurance premium? The fact is, your car insurance rates can skyrocket depending upon several factors, including your age, past driving record, and other factors such as credit history. However, the trick is to find ways to lower the annual pay-off. Here are 4 quickest ways to lower your Auto Insurance Premium.
Tip 1: Hike up your deductible
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.
Tip 2: 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.
Tip 3: Downsizing Coverage
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.
Tip 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.
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