Ways to lower your car insurance rates
Car insurance is a fact of life not only for anyone who owns a car, but also for anyone who drives a car regularly. Though car insurance usually isn’t that expensive, you still want to do whatever you can to make sure your premiums are as low as possible. Here are some tips on how to make sure you pay as little as possible for your car insurance.
Different insurance companies have different underwriting standards, which means there could be a wide variation in rates quoted to the same driver. That’s why it pays to shop around for car insurance. You should contact at least three companies to get estimates. Better yet, use an insurance broker or online comparison site to help you get the best price.
Don’t get more insurance than you need
One way people wind up paying more than they need to for car insurance is to carry more coverage than they need. Nearly every state requires all car owners and drivers to carry liability insurance. Although some states require more, most other coverages are optional. If you have a newer car, especially one you are making payments on, then you will want to have full coverage, including collision and comprehensive coverage. But if you have an older car that isn’t worth much, you can save a significant amount on your premiums by carrying only the minimum amount of insurance required by your state. Youi Car Insurance https://www.youi.com.au/car-insurance
If you are getting your car insurance from one insurance company and your home or renters insurance from another, you probably are paying more than you should for both policies. Most insurance companies offer significant discounts if you get more than one type of policy, a practice called bundling. For example, if you get your car insurance and home insurance from different companies, you might be able to get discounts on both policies by switching them both to the same insurer. If you are getting policies with different companies, check with those companies to find out what discounts you might be able to get by switching.
Lower your deductible
If you are carrying anything more than liability insurance, you will have a deductible, which is what you have to pay on a claim before your car insurance pays anything. You can get a lower premium by raising the amount of your deductible. For example, if your deductible is $500, raising it to $1,000 could probably save you several dollars a month on your premiums.