Many car owners just pay their car insurance premiums year after year because it’s easier that way. Funny thing is, there many ways that drivers can save on their car insurance costs. In this article, we’ll give you ways that you can quickly use to lower your insurance premiums. Thank you to this local Ford dealership in Cape May Court House, NJ for the help they gave us in this article!
Get Rid of Coverage on old Cars:
Once your car is ten years old or so, consider scaling insurance coverage to just “injury and property damage.” A vehicle that old does not have a great deal of value so why pay for collision coverage. If you have a crash, the car insurance company will not pay any more than the car’s worth, so if that’s a few hundred dollars, do not pay for the collision coverage. This can save you some good money and it’s only a phone call away.
Bundle policies:
Do you own a home? If you insure your home and your vehicle with the same company, you can typically get a bundled rate. In many cases, this could save you over ten percent a year. It’s simple, just call your local insurance agent and they’ll be glad to talk to you about this option. Unfortunately, many car insurance purchasers overlook this option.
Monitoring:
Many insurance companies now offer a discount on car insurance costs if you agree to be “monitored.” You will only need a small device that plugs into your vehicle’s OBD-II port. The device records your driving habits so the insurance company can see how you drive. Progressive, for example, provides discounts of up to thirty percent for drivers with good driving profiles. If you’re a good driver, ask your car insurance company if they offer monitoring discounts.
Mileage Discounts:
Some companies will offer a discount if you drive no more than a certain number of miles. These companies consider such drivers to be less risky than high mileage drivers. If you put relatively few miles on your vehicle each year, you should consider this.
Your Credit Score:
Your credit score could affect your car insurance costs. A recent study found that there is a thirty to forty difference in the cost of car insurance costs between someone with great credit and someone with bad credit.
A teenager with good grades:
If you have a teen, make sure your car insurance agent knows if he or she gets good grades. Students with good grades usually pay an average of 5%-15% less than other teens. All you need is a progress report from the school that they attend or did attend.
Refrain from Filing:
You do not always have to file a claim after an accident. If you are at fault, filing a claim can raise your premium. So, if you are involved in a minor accident involving another car, consider paying the other driver cash to get their car repaired and don’t file a claim.
