Vehicle Insurance – Ways to Save Money
With the cry all around arising from the crunch of the present economic situation, everyone is looking for ways to reduce expenses and save some much needed bucks. Considering that auto insurance is a constant source of financial expenses, saving money from this would amount eventually to major savings. Let’s see how we can make this happen.
Let’s start by looking at the factors that affect the rates we pay. From this, we would be better able to find ways to save.
The point we are about to look at really affects people who are about to buy a car. One of the great factors affecting the rates we pay is the type of car we are insuring. Some cars are much more expensive to insure than others. For example, if you own a sports car, you would spend much more insuring it than would someone who owns a family sedan.
This is not to say you shouldn’t buy the car of your choice. It is just to make sure you are aware of the attendant cost of buying the car of your dreams so you would not be taken by surprise by the cost of insuring.
Apart from the above, other issues that affect your auto insurance rates include but is not limited to the following:-
1. Driving history. if you have had a number of accidents in the past few years, then you are likely going to be faced with higher premiums unlike someone without an accident on their record.
2. The safety of your neighborhood or where you park at night. the safety of your neighborhood is very important. If you park in a private garage as against the road, you are likely to get lower rates.
3. The security and safety features of the car. The more the security and safety features in your car, the more likely you are of getting your rates lowered.
The general rule is always that whatever reduces the risk of your making a claim has a positive impact on your auto insurance premiums.
Always make sure you take some time to find out from you agent or insurer what discounts they offer and how you can qualify for them. These discounts result in lowered rates.
Here are a few things that could qualify you for discounts.
1. Taking a course in defensive driving.
2. Having multiple policies under your policy.
3. Paying your premiums annually and not monthly.
4. Reducing the frequency of your car usage. etc.
Be sure you take your time to make sure whatever you are agreeing to is what you want and is at an affordable rate. One good way to do this is by getting and comparing free quotes on quotes comparison sites. When you do this, you get quotes from several insurers and can therefore make up your mind based on facts.