How To Cut Down Your Car Insurance Rate Without Downgrading Your Coverage

If you must get big discounts, then you must NOT fail to do certain things. Following are some of such things…

1. A car with a high safety rating will get you better rates than another with a lower rating all other things being the same. Safety ratings should be given more consideration when shopping for a new car. Such features get you a big discount. Examples of such safety mechanisms are air bags, automatic seatbelt, ABS brakes and daytime running lights. Your insurance agent can give you a list of safety systems that will make you eligible for a discount with your insurance provider.

Affordable Auto Insurance

2. It’s a known fact that young drivers attract high rates. More so, the younger an under-25 driver, the more they’d have to pay. That is why teenagers pay a lot more than 22-year olds.

So you’ll do well to NOT place your teenage driver on your policy. It will drive it up by a huge margin. You can discuss with your agent about signing an exclusion form so that your teen driver can have his/her own auto policy.

If a teen is keen on driving then then should be made responsible for at least the cost of their auto insurance. Teens who pay for their own auto insurance are more willing to take steps to bring it down. The full implication of this is that your teen will be a lot safer as they’d do their best to avoid inflating their rates.

3. If you are an employee of a large company you could enjoy a group discount. Group discounts are offered by insurance carriers to entice members of an association to buy policies from them.

4. It might seem unfair to most people but your credit rating does affect you rate. Insurers who use it as one of the factors that determine what a person pays say that there is a relationship between the two. They maintain that experience and statistics show that a poor credit rating means irresponsibility which also plays out behind wheels.

5. A simple but rewarding way of lowering your premium is by authorizing an EFT (Electronic Funds Transfer). This just means your insurer takes your premiums automatically from your account each month without mailing you payment notices. This removes administrative overheads like those incurred when sending payment notices. The insurance provider gives you part of what they save by bringing down your rates.

Get more tips at Auto Insurance Quotes and Budget Car Insurance. Chimezirim Odimba helps people save on insurance.

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