Save on Car Insurance

September 27th, 2016 by

Insurance companies calculate rates based on risk and statistics. There are many variables such as age, gender and geography that are used in calculations over which you have no control. Fortunately, there is a lot that you can do to effectively manage rates and keep your premiums low.

downloadMitigating risk will save you money. Here are some of the best ways to earn discounts that can reduce your premium.

  • Take a defensive driving class
  • Maintain a clean driving record
  • Get a low mileage (drive under 10K miles) per year
  • Be sure to provide all safety features (ie anti-lock brakes, lane departure warning system, etc.)

 

Beyond that, make prudent financial decisions:

  • Shop around, there can be substantial rate differences among companies
  • Get estimates and compare costs before you buy a car
  • Accept a higher deductible
  • Reduce coverage on older cars
  • Insure all cars in your household with the same company for a multi-vehicle discount
  • Combine policies with one company such as homeowners and automobile insurance
  • Maintain good credit

It is also a good idea to re-evaluate insurance annually to see if you are eligible for additional savings.