Yes! You Can Lower Your Car Insurance Premiums
It is of paramount importance that vehicle owners pay attention to this article. It could be the reason why you feel as though your insurance company is TOO EXPENSIVE since many of you may not have the time to focus on these tactics.
Take a defensive driving course. These courses are offered at varied times during the week and could even be done on a Saturday. Also, they are not very time consuming since it simply involves attending one session that would last for a couple of hours. At the end of the session, you would be given a certificate that officially means you’re a “defensive driver” (well at least on paper). Fortunately, many insurance companies such as Colfire provide discounts for those that complete an approved defensive driving course.
Shopping around could also mean savings. It is important that before starting a policy and/or renewing a policy that you shop around and obtain quotes from competing companies. This strategy has the potential to save you hundreds and even thousands of dollars in premiums since differing insurance companies use differing criteria to determine the sort of discounts that clients or potential clients qualify for. For example, Company A may offer a 20% discount to all clients over the age of 55 as well as 20% discount to all protective service workers. Company B may offer the same 20% discount to clients over the age of 55 however not offer a discount for protective service workers. Finally, Company C may offer discounts however none of which involve being over 55 years of age or being a protective service worker. If Ken, a 56 year old police superintendant insures his $450,000 BMW with Company C, simply because it was the 1st to come to mind, which currently allows him a bare 10% discount for having a car alarm then it is safe to say that instead of saving up to 40% on his premium Ken is wasting money. However, if Ken had shopped around, he would have been more aware of the kinds of discounts and quotations and would therefore be saving big time!
Anti-theft devices also protect your premium. Insurance companies allow discounts for certain types of anti-theft devices. As such, it is advised that you verify which would allow you to save on your premium and make your decision accordingly. “If your primary motivation for installing an anti-theft device is to lower your insurance premium, make sure to consider whether the cost of adding the device will result in a significant enough savings to be worth the trouble and expense.”
Choose your coverage wisely. By making wise choices in the types of coverage that is taken, some savings can be made. This in itself can be a “ticklish” process since nobody could be definite as to what exactly would occur but, some intelligent forecasting could be made. For example, if you live in an area that is highly unlikely to be flooded and you do not drive your vehicle out of that area then it is safe to say that it is highly unlikely that that vehicle be damaged by flood. As such, flood coverage may not be needed and could be left out or dropped from your policy resulting in a lowered premium.
Remember, cheaper does not always mean good or better. As such, the lower-priced company is not necessarily the wisest decision. Be sure to consider the insurer’s credit worthiness. The ability to pay claims is crucial since this is the purpose of the auto insurance in the first place; to relieve the insured of the financial losses that are brought about by the possible and associated risks.
