Auto owners insurance can be quite costly these days, especially with the effects of the economic meltdown still affecting the industry head-on. However, this does not mean that you, as a car owner, cannot do something to get lower and more affordable monthly premium rates for yourself. Here are some worthy tips to look into. Focus is much needed here because if you pull the right strings, then you just might decrease your auto owners insurance monthly premium by as much as 50%.
The first thing you should remember is that your annual mileage has a lot of influence on your monthly premium rate. Thus, you need to do all that you can to reduce your annual mileage. Now, this means that you will have to give up driving your car whenever there is a reasonable alternative in your midst. This can seemingly defeat the purpose of getting your car in the first place. However, if you do succeed in reducing your annual mileage, then you will surely reap the benefits in the form of lower monthly premiums.
Of course, this is not a hard thing to do, especially when living in the city. After all, there are mass transit networks that provide great alternatives to driving your car.
Secondly, it is important to also pay attention to your age – most especially if you are still under 25 years old. Most car insurance companies see young drivers as risky clients because they have not had that much experience in driving yet. The one thing that you can do to lower your premium though is by maintaining a high GPA. Maintaining good grades at school will show insurance companies that you are a responsible driver who deserves lower auto owners insurance premiums.
Thirdly, look into the antitheft and security devices installed in your car. If you do not have any of these, then kiss your dream of having lower auto owners insurance premiums goodbye. Installing antitheft and security devices in your car says a lot about how responsible you are as a driver. Examples of these devices include airbags, automatic gas cutoff systems, security alarm systems, and so on. These devices reduce the risk of theft significantly, which would thereby give you a better chance of lowering your premium rates.
Lastly, remember to shop around. It would really help to go online and search for as many insurance quotes and companies in the market. Make it local though so that you are sure to conduct insurance business locally. Do your research and find the most affordable and most suitable insurance policy in the market right now.