Monthly Car Insurance
Helpful Ways to Lower Your Monthly Car Insurance Payments
With the average monthly car insurance payment being a whopping $150, it is no great wonder that so many people are trying to find ways to lower these costs. Unfortunately, as is also the case with tax refunds, many people don’t know about all of the ways to lower their costs and put some money back in their pocket.
Lowering your monthly car insurance payment isn’t as easy as finding a reputable broker or company, however. All car insurance companies, just like any business, are out to make money. Therefore, you are going to have to specifically ask about many of these discounts. If none are offered to you, you may very well want to look into signing with another company.
Increase Your Deductible
While this may sound scary at first, if you are a genuinely safe driver this is a great way to lower your monthly car insurance payments. In fact, there is a chance that you will never ever have to pay the deductible at all. Imagine the savings you could be enjoying each month if you raise your deductible a few hundred dollars. Your auto insurance company will likely not mention this option to you, but if you have a good clean record, you should absolutely consider asking them.
Unless you are fully established and own your home, moving may actually be able to save you a very large amount of money each month. One of the things agents look closely at is the area in which you live. If you live in a high crime area where vandalism and even theft are commonplace, you are likely to have significantly higher rates than someone living in a quiet suburb.
Additionally, if you live a long way from your place of business you may also be getting charged more. Since someone that has to commute farther to work has a statistically higher chance of getting into a car accident than someone that simple has to drive 1 or 2 miles, it makes sense that auto insurance rates would reflect this. If you’re curious as to how big a discount you could be getting, speak to your agent and have them tally up some new numbers for you if you moved. The long term saving may be worth the short term expense.
If you have a good car insurance company and they provide you with the coverage you need at a price you can afford, there’s really no need to keep bargain hunting. Loyalty can pay off in big amounts as years go by, especially with the numerous discounts that are now being offered to clients with established histories of on time payments and safe driving. Take into consideration how many stores and businesses offer free goods and discounts to valued and loyal customers; the same rules apply to car insurance.
Get a Car Alarm
The time of expensive car alarms has come and gone. Most alarms nowadays are incredibly affordable and anyone with a basic understanding in automotives can install one themselves. This can really come in handy if you park your car in an area with higher crime and cannot afford to move, or do not have access to a garage. Getting an alarm can counteract some of the rate increases you are experiencing, as well as give you piece of mind during the night.
Take a Defensive Driving Course
Taking an advanced driving course, particularly one geared at defensive driving, is a great way to lower your monthly car insurance payments. These classes can be found online or directly through your insurance agent. Be sure to get a certificate of completion from your driving instructor, since your agent will likely need proof that you passed. Remember: if you fail the course, your rates will likely climb higher.