Locking in an Affordable Auto Insurance Rate
Auto insurance is one of those expenses that many people simply accept as fixed but that is often not the case. There are many things that you can do to get a more affordable rate on your coverage. The tricky part is that most brokers and agencies don’t really advertise many of the discounts you could qualify for.
Having an excellent driving record is the most obvious factor in getting an affordable auto insurance premium. Most companies offer a discount for being a safe driver so if you’ve never been in an accident or had a ticket, make sure to let your broker know right away. There are even some companies that are offering ongoing discounts after each six months or year of a clean record.
Another thing that can make a more affordable auto insurance rate is by showing that you have completed some sort of driver’s education course. This is especially important for getting a better rate for a new teenage driver but even older people can take a defensive driving course. Sometimes doing this can counteract the effects of a couple negative entries on your driving record so be sure to ask your agent about this possibility.
Speaking of teenage drivers, did you know that most auto insurance companies will give a discount for insuring multiple vehicles? This discount is often over 20% so it can really help with your savings. Not only that, but there are some insurance companies that will offer you a real deal if you insure your vehicles and your home with the same agency. You’ll have to ask and compare, obviously, but this is another consolidation move that could really pay off in savings.
Anything you do that makes your vehicle safer or more difficult to steal can also pay off in a discount off your premium. Upgrading to a better airbag system or installing a car alarm could get you 5-10% off your rates. Where you live also has an influence on this as some areas are more prone to car theft, as well as certain models are considered more likely to be stolen.
On the topic of certain models, if you’re in the market to purchase a new vehicle, find out which ones are going to cost you more in terms of auto insurance. Believe it or not, some companies even charge more for specific colors because statistics show that certain colors get in accidents less frequently than others. Color can also effect the likelihood of theft. Other factors that could influence the insurance rate of a new vehicle is whether it’s a car or a truck, if the car has special modifications and those premium luxury brands that are stolen more often.
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