Overpaying for your car insurance?
Tips to help reduce your
Park in a Garage
Make sure your insurance knows your care is parked in a garage, you may get a discount.
Your car is harder to steal so you are less of a risk
. If your garage has a security system. This could help you get a discount.
Anti-theft devices might also help you increase your savings.
Make sure you let your insurer know.
Your Credit Score
Depending on which state you live in Your credit score can
potentially affect your insurance rate.
The general assumption is that individuals with lower scores
represent greater overall risks.
Whether or not this is correct having poor credit could work against you and lead to higher coverage costs.
Check your Credit Score
occasionally, if you score has improved, talk to your insurer
Try to drive more safely. Traffic violations and at-fault
accidents will increase your rates.
Your driving record is one of the largest factors when it comes to rating your risk category.
This is designed to handle the difference between what you owe
on your auto loan versus the current value of your car.
If your vehicle is totaled in an accident, you can pay off the loan in full even if your car is worth less than the amount still outstanding on your loan.
It can be worthwhile option. But only consider gap coverage if
your car loan exceeds your car’s value. If it doesn’t, then why spend the money.
Some policies have coverage for roadside assistance, rental cars,
and other useful extras.
However, if you don’t need them, removing them could reduce your premium.
They can be added if your situation changes. You can usually switch them on and off, allowing you to save more money over time.
The average mileage is assumed to be about 12,000 miles. If your
annual mileage less than that, you might qualify for a low mileage discount.
Many insurers offer a range of discounts not openly advertised.
There are often discounts for retirees, teachers, first responders, military
members, veterans and others.