4 Ways To Lower Car Insurance Pre-Purchase

Insurance Blog

Just as the best defense is a good offense, the best way to manage any situation is to prepare for it. So it goes with car insurance. While you may have considered various back-end, post-purchase ways to lower your can insurance costs, some of the best cost-saving measures for car insurance can only be taken advantage of before you actually purchase your car. Here are 5 ways you can help bring your car insurance costs down the next time you're ready to purchase a new vehicle and get that title and registration.

1. Consider Your Commute

If you've landed at your dream job and know that you will be staying there for the next several years--or even a decade or two--how far you have to travel to work is important in regards to how much you'll be paying for car insurance. Insurance rates are likely to be higher for someone who drives their car to work and school, as well as taking it on long road trips and regular lengthy outings (i.e., driving your child around until they fall asleep, taking a driving tour of a large park. etc.). This is because the more you drive your car, the more likely you are to get in an accident. If your car spends most of its time in the garage, your car is more safe to insure against damage from anything besides a falling tree branch or errant baseball.

When it comes time to buy a car, do what you can to plan a life that allows you to use your car minimally. This could mean changing jobs, switching schools, moving, or buying another form of transportation such as a bike or skateboard for short trips.

2. Less Flash, Less Cash

Buy a car that doesn't stand out too much. Often, these tend to be less glamorous, but are more sturdy and reliable. Reliability is a great factor to consider when it comes to car-buying and insuring a car. Do some research about which brands and models are known for their long engine lives. A car that rarely has to be taken in for repairs makes most insurance companies feel a little safer about protecting your car, and therefore they can come down on insurance costs.

When it comes to car shopping with insurance costs in mind, think "slow," "old," "low-cost," and "safe."

3. Bundle Up

Before you go looking for a car to insure, shop around for decent rates and get another type of insurance with the same company for a multi-policy discount. Be sure to ask if a particular insurance company offers a discount for multiple policies. Take the time to consider switching over life, homeowner's, or other kinds of insurance to the company you want to get your car insurance with in order to take advantage of bundling discounts.

4. Prep Your Credit

Though your credit will affect loan terms if you're financing a vehicle, don't forget that insurers take your credit into consideration when calculating insurance rates and coverage as well. Pay down as much of these debts as you can before purchasing and insuring your new vehicle and you could get lower rates for insurance on top of more favorable auto loan terms.

Doing all of these things before you step foot on a car lot can help save you money each and every month on your car insurance.


19 May 2016