Insurance premiums are not cheap. In fact, paying these premiums tolls one’s budget on a regular basis. However, the fact is that more often than not, one is required to have a car insurance policy, as long as one has a car. Need to save money? Take a look on the following questions.
- Do you have too much coverage? To minimize your costs, avoid taking too much coverage to avoid unnecessary expenditures. You surely do not want to spend your money unnecessarily. Obviously, higher coverage means higher premiums to pay. It is best to get only the right amount of coverage that you actually need. Factors like whether living in a busy city or in quiet suburbs, taking frequent travels or covering minimal distances would help you decide on the right coverage for you. If you need full coverage, choose paying higher deductibles, for doing so saves money. In fact, raising your deductibles from $200-$1000 gives you up to 40% discount. If roadside assistance is available in your car, do not bother to include roadside assistance in your car insurance policy. Avoid duplicate coverage.
- Are you paying high premiums because of your car?Different types of cars bring with them different price tags for premiums. There are specific types of cars which are high risk ones; more prone to road accidents, more likely to endure collisions, more attractive for car thefts. Of course, the higher the risk of your car to be involved in an accident or to be stolen by thieves, the higher the premium to be paid. Safer cars come with lower premiums.
- Tried shopping around?There are a lot of car insurance plans available in the market. Different plans come with different premiums, different coverage, and different promos. There are almost infinite plans to choose from, each of them with their own specialties and caters specific interests. One key in shopping around is finding the appropriate insurance plan that offers the best price for the best coverage.
- Do you have the capacity to pay in full? Paying the full amount at the start saves a lot of money. Usually, instalment packages make you pay from $3 to $5 for courtesy. That means being able to pay the full amount can save you from $30 to $40 a year.
- Getting all available discounts?There are different kinds of discounts. Other than the commonly known safe driver and multi car discounts, there are still multi policy discounts (for multiple policies under a single insurer) and mileage discounts. In fact, grades of students or safety features in a car also lower your premium. Explore all possible discounts that you can avail.