5 Quickest ways to lower your Auto Insurance Premium - best of

5 Quickest ways to lower your Auto Insurance Premium

 Looking for ways to lower your car insurance premium? Car insurance rates can skyrocket depending on factors such as your age, driving history, and other factors such as your credit history. However, the trick is to find ways to reduce the annual payment. We have selected for you the 5 fastest ways to reduce your car insurance premium.



Tip 1: Increase your deductible

 

Stop trying to get the "lowest deductible", go for a comfortably higher payment plan instead. The "deductible" is the amount you would pay before your insurance policy takes effect. This is an easy way to reduce the amount of your periodic premium, however, be warned, in such a case, if something happens to your vehicle - you must fork out more to cover initial expenses, before going for a claim.



Tip 2: Park your vehicle in a garage


One of the easiest ways to reduce the insurance premium is to park your vehicle in a garage, personal or commercial establishment. This helps bring down, in some cases, almost 20% of the premium. In a garage, the chances of your vehicle being stolen or stolen are greatly reduced. From a transaction perspective, parking in a garage could mean a difference between a preferential rate and a standard rate.



Tip 3: Shop around and negotiate


Nothing beats the traditional “shop to negotiate”. Make sure you have at least three to four quotes with you, before settling on the service provider. Make sure you're not just buying for the price, but for the whole deal.



Tip 4: Take a defensive driving course


Few people are aware of this. By volunteering for a state-approved defensive driving course, you can receive premium discounts of up to 10%. However, check with your insurer about this.



Tip 5: Reduce coverage


Well, downsizing is perhaps the easiest way to lower your car insurance premium. However, we suggest that you be careful and cautious when making this decision. This might save money, but would also limit coverage.