Secrets To Lower Auto Insurance Premiums

Insurance Blog

Are you thinking about getting a new car soon? Are you wondering if your current insurance policy is good enough or if you'll need to get a new one? If you're buying a brand new car, insurance can seem very expensive. But it doesn't have to cost an arm and a leg. Here are some secrets to getting cheaper auto insurance:

Get homeowners or renters insurance: If you don't already insure your home, you should seriously consider doing so. Not only will you be protected against various household calamities, but bundling your home and auto insurance together can save you money. Some insurance companies may offer insurance bundles for slightly less than insuring just one or the other. 

Live in a "safe" area: It may not make sense to move just to take advantage of auto insurance discounts, but if you're already in a low-crime area, you may be able to take advantage of lower insurance premiums. If one area of your city has an extremely high crime rate, you may be able to get a lower insurance rate by proving that you don't work or live in that area. 

Don't lend out your car: When you lend your vehicle to a friend or relative, you're on the hook for any damage that they might cause. While you may be able to get your friend or relative to pay you back for the deductible, you'll likely wind up paying for the accident for years to come with increased auto insurance rates. As a result, you should think twice before lending your vehicle to anyone.

Let the insurance company gather data: Some insurance companies will give you a lower rate if you allow a tracking device to be installed in your vehicle. These devices will measure your average driving speed, as well as how often you come to a hard stop. If you worry about your auto insurance company having too much information on where you go and what you do, look for a company with devices that don't gather GPS or other directional data.

Buy last year's model: Sometimes, just one year can make a huge difference in your auto insurance premium rates. Depending on the car dealership you go to, you may be able to find brand new vehicles from last year or the year before. While these "older" vehicles will still have little to no mileage,  your insurance company may give you a lower rate based entirely on the year of the vehicle. 

Talk to a company like Coast Comp Insurance Agency to learn more ways to save on auto insurance.


29 January 2016