The fact that the cost of auto insurance is continuously on the rise is not in doubt. This is attributed to several factors including litigious nature of the society, increased traffic and other accidents and increased theft of motor vehicles among others. The high cost of auto insurance has meant that many vehicle owners do not service or maintain their vehicles as they used to do in the past, which calls for ways to save on auto insurance premium. Below are 10 ways to save big on auto insurance.
Deductibles – Consider buying an auto insurance policy with high deductible. This simply means that you will be obligated to pay part of auto repair costs out of an accident from your pocket. Such policies generally have low premiums.
Do away with unnecessary riders – An auto insurance policy can have several riders that increase its cost. Doing away with such riders as towing to save big on your auto insurance.
Shop around – Whether planning to buy a new or used vehicle, shop around for an auto company that quotes low on premium. You will be surprised by the huge difference in quotes even though coverage remains the same.
Consider engaging one company – This is one of the best 10 ways to save big on auto insurance. Consider buying your auto insurance policies from a specific company in case you have several vehicles. You will be able to receive massive discounts.
Low-mileage discounts – Should your annual mileage be reasonably low, shop and engage a company that offers attractive discounts on low mileage.
Consider taking a defensive driving course – A good number of auto insurance companies do organize regular defensive driving courses for the benefit of their clients who henceforth receive massive discounts on premiums.
Pay your premiums periodically – Any payment of premium has a fee attached to it and paying on a monthly basis can be very expensive in the long run. Consider paying after every six months to reduce such fee.
Improve your credit score – Auto insurance companies do background checks when calculating your premium rate and one of the things they look at is your credit score. Make efforts to improve your credit score to enjoy affordable premium rate when you eventually renew your policy.
Your location – Consider relocating to an area with low population in case you live in a densely populated area.
Security – This is one of the top 10 ways to save big on auto insurance. Enhancing security of your vehicle is one effective way of saving on auto insurance. Install such security gadgets as tracking and alarm systems that go a long way in reducing premium quotes.