How to Lower Your Car Insurance, Tips For Reducing Rates
Car Insurance Rates in Houston
Of all the things we have to pay for, from mortgage or rent payments, to credit card bills, utility bills and more, auto insurance is yet another one of those necessary expenses that keep us reaching into our pockets month after month. However, that doesn’t mean you have to spend a lot for it! If you are like us, you are always looking for ways to cut down on your bills. To help you we have put together this list of things you can do to lower your car insurance rates so that you can hold on to more of your hard-earned money each month.
1. Raise Your Deductible
Your deductible is the amount you have to pay out of pocket before your insurance policy pays for losses related to an insurance claim. While each insurance company has its own way of calculating premiums and deductibles, you can typically reduce your car insurance payment by anywhere from 15 to 40 percent by opting to pay a higher deductible. Before talking to your insurance provider about raising your deductible, make sure you have enough money set aside in savings to pay the entire deductible in case you should have to file a car insurance claim.
2. Good Driver Discount
The best thing you can do to ensure lower insurance premiums is to simply be a safe driver. The better your driving record is, the lower your premiums will be. Even if you have made mistakes in the past, it doesn’t mean you are out of luck going forward. Many auto insurance providers offer good driver discounts, which will lower your payments, provided you maintain a clean driving record for a specified amount of time.
3. Drive Less
The more you drive, the higher your chances of being involved in an accident. This translates into higher premiums, as insurance companies base your rates on the amount of risk involved in covering you. If you have a long commute or your job involves a lot of driving, consider carpooling, public transportation or finding other ways to cut down on your mileage.
4. Improve Your Driving Skills
If you are relatively new to driving, take advantage of special discounts some insurance companies offer for completing driver training courses. This also applies to people who have been driving for a long time. If you have reached an age where your chances of being involved in an accident have increased (typically 55 and over), your insurance company might offer a discount for completing a Mature Driver Improvement Course. Keep in mind that these types of discounts vary from company to company and state to state, so be sure to contact your insurance provider before enrolling in a class.
5. Reduce Coverage on Older Cars
If your car has considerably gone down in value over the years, it might not be worth repairing if it gets totaled in an accident. In turn, this means you may want to get rid of non-essential insurance options included in your policy. As a general rule, if your car is worth less than 10 times your insurance premium, you might want to consider dropping non-required insurance coverages, such as collision and comprehensive.
6. Multi-Car & Multi-Policy Discounts
Some insurance providers offer discounts on premiums if you insure more than one vehicle under the same policy. If you have more than one car in your household, ask your insurance company if they offer any incentives for bundling them under one policy. Even if you have only one car you may qualify for a multi-policy discount with bundling your homeowners, condo, or renters insurance under the same company that you have your auto insurance.
7. Loyalty Discounts
If you’ve been with the same insurance company for an extended period of time, you might be eligible for a loyalty discount. Each insurance company has its own set of discounts and requirements for eligibility, but typically loyalty discounts will kick in when you have been with the company for at least one year.
8. Protect Your Car
If you live in an area with a high level of auto theft insurance claims, your premiums will be higher than those of someone in a safer neighborhood. However, there might be a few things you can do to lower your car insurance rates. Some companies will offer lower rates for taking precautions such as keeping your car in a garage or arming it with a security system. Again, all insurance companies have different rules and discounts, so be sure to ask your insurer if they offer a theft-deterrent discount before you spring for that pricey alarm system.
9. Talk to an Insurance Professional
No two insurance companies are exactly alike when it comes to discounts to lower car insurance rates. That’s why you should always speak with an expert before making any potentially costly decisions. If want to learn how you can save money on your premiums, contact a Cosecha Insurance professional to get guidance on how to minimize your car insurance rates. Uninsured, or looking for lower rates? Get a quote today to see how Cosecha Insurance can help.
Source: wawanesa
Car Insurance Rates in Houston.
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