Are you looking for ways to reduce your auto insurance premium? Auto insurance rates can spiral depending on factors that include other factors such as your age, previous driving record, and credit history. However, the trick is to find ways to reduce annual payments. We've pulled you up for the 5 fastest ways to reduce your auto insurance premium.
1: Hike up your deductible
Stop trying to get the 'lowest cut', instead get out of the pocket payment plan more comfortably. 'Deductible' is the amount you pay before your insurance policy. This is an easy way to reduce your periodic premium amount, however, be warned, in such a case, if something happens to your vehicle - you'll need a shell to cover more initial expenses. Before going for a claim.
2: Park your vehicle in a garage
One of the simplest ways to cut insurance premiums is to park your vehicle in garages, personal or business establishments. This helps to close, in some cases, close to 20% of the premium. In the garage, the chances of your vehicle being stolen or sideswiped are greatly reduced. From a transaction standpoint, parking in a garage can mean the difference between the preferred rate and the standard rate.
3: Shop around and negotiate
Nothing beats the traditional 'shop around for bargains'. Make sure you have at least three to four price quotes with you, before fixing on the service provider. Make sure you are not shopping for the price alone, but the whole deal.
4: Take a defensive driving course
Many people are not aware of this. For a state-approved defensive driving course voluntarily, you can receive a premium discount of up to 10%. However, do a crosscheck with your insurer on this.
5: downsizing coverage
Well, downsizing coverage is probably the easiest way to reduce your auto insurance premium. However, we suggest you to be careful and prudent when making this decision. This can save money, but it will also limit coverage.
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