When you buy a car the first thing you need to do is get it insured. Insurance is a must expense which is rising by the day with the rising cost of living. However, by following nine ways you can lower your insurance cost. There are a number of companies providing Auto insurance today.
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All have varied programs, policies, and offerings. It is always better to get quotes from three or more companies that suit your needs and preferences. Then you can make price and offering comparisons of different companies. Many websites allow you to make such comparisons. State insurance department also has price comparison information for customers. In this way, you can lower your Auto Insurance cost.
Higher deductibles lower insurance cost
Deductibles refer to the amount paid before you make a claim. By increasing the deductible you can have lower insurance cost.
Lower coverage on older cars
If you have an old car which is fully paid for, you can consider having a reduced coverage on it. For example, you can eliminate collision coverage, which constitutes a big portion of insurance cost. Collision coverage refers to the amount paid for any damage that occurs to your vehicle as a result of an accident.
Use one company for all sorts of insurances
Be it your car or your home you need to get your assets insured. It is better to get the services form a single company as it can earn you a discount as much as 10% of the total premium expense.
Keep a good credit record
Insurance premium is higher for those who have poor credit history. Insurance companies dig into customer’s previous record to get an insight into their credit history. So if you want to lower your insurance expense, you must maintain a good credit record. You can do so by paying your premiums on time. Moreover, obtaining as much of credit as is required and maintaining a low credit balance shall also make your credit record look good.
Benefit from low mileage discount
If your insurance company offers any benefit with regard to lesser than an average number of miles per year you must try to avail such discounts in order to lower your insurance cost. You can do so by, for example, arranging carpool for a commute to a workplace.
Drive cautiously
You can lower your insurance cost by driving carefully, getting lesser into at-fault accidents and avoiding speeding tickets. By having a good driving record with minimum traffic violations, your insurance company may reward you with discounts on premium.
Purchase a car that has safety features
It is better to purchase a slightly more expensive but safe car that features airbags, electronic stability control, anti-lock brakes, and automatic seat belts. This can earn you discounts and help lower insurance cost.
Buy hybrid car
Many insurance companies reward customers with discounts if they have hybrid cars. This can help you lower your Auto Insurance Dallas cost.