Wednesday, September 13, 2017

How to Reduce Your Auto Insurance

Save money on your premium by following these important tips. Learn to reduce your auto insurance now!
Paying for car insurance is something that does need to be considered in your budget but it doesn't need to take a large chunk of it. When you follow these 10 tips, you can reduce your annual premium considerably.

1. Look around
According to the Association of British insurers (ABI) it is possible to save as much as $.30 per dollar on your premium if you look around at different options. Don't be too quick to accept the quote from your current insurance company every year. After a lot of looking we found insurance to be cheaper from Money Expert.

2. Put Limits on the Drivers
If there are more people on your policy who drive the car, it is also driving up the price. This is especially true of younger drivers who may be more expensive on your policy. Remove your children from the policy when they are able to obtain their own.

3. Ask for a higher deductible
It may be possible to increase your deductible (how much you pay per claim out-of-pocket). If you increase this price, you typically reduce the premium.

4. Don't make your personal car a work car
It is typically cheaper to ensure a car that is only for domestic, social or pleasure.

5. Use a mileage cap
Many insurance companies will offer a discount if you set the high-end of your annual mileage. This is due to the fact that it is less likely for you to have an accident when you are on the road less frequently. You may be able to save as much as 10% if you accept the 12,000 mile annual limit on your driving. If you are able to limit it to 5000 miles, it may save you additional money. Consider this under any circumstances but it is even easier if you have more than one vehicle.

6. No broker commission
You may be paying up to 30% more if you use a broker.

7. Use the Internet
It may be possible to save up to 5% on your insurance if you order it online.

8. Downsize
If you drive a car that is worth less, you will likely pay less for your car insurance. Those lower premiums can really add up.

9. Garage your car
If you keep the car under cover rather than keeping it out on the street, you may save up to 10% off your annual premium

10. Ask for the discount
 You may have a number of discounts available on your automobile insurance but is still beneficial if you ask for an introductory discount. Some companies will offer it automatically because they want your business. If you are in a position to ask for a no claims discount, be sure to ask for it.

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