5 Ways To Reduce Your Car Insurance Premium

While your age plays a big part in how much money you pay for car insurance, you unfortunately do not have any control over it. If you are looking for a way to lower the cost you pay for car insurance, consider doing it in one of these 5 ways.

Change The Car That You Drive

An insurance company assesses each vehicle differently when coming up with your insurance premium. They use data such as how frequently a car is stolen, the cost of new parts, and crash test ratings. To avoid a high premium, you need to drive a car that is older, easy to repair, and a low target for theft.

Pay Your Premium In Advance

Your insurance company may offer a small discount if you opt to pay for a year of insurance in advance, rather than pay every month. There is no need to worry about being stuck with your insurance company though. If you switch insurance providers, you will receive a refund based on the pro-rated use of insurance.

If you have the cash, paying premiums in advanced is a win-win situation.

Let Your Insurance Company Track Your Driving

Many insurance companies are now offering incentive programs where you can receive a reduction in your insurance premiums in exchange for letting them track your driving. A device will be installed in your car that lets your insurance company know how fast you drive, how quickly you stop, and how fast you accelerate.

Make sure to read the terms of services of these programs first to ensure that you are not punished for bad driving behavior.

Limit The Amount Of Miles You Drive

One factor that makes up your insurance premium is how many miles you drive per year. If you are able to move closer to your job, or take public transportation, you can make a significant impact on the total amount of miles you drive.

Let your insurance company know that you expect to be driving less each year, and you could see a reduction in how much you pay.

Add An Additional Policy For A Multiline Discount

If you have your home or renters insurance with another company, consider combining them together with the same company to get a multiline discount. Even if the insurance for your home or renters insurance policy is a little bit higher, the discount could outweigh the price difference and save you money.

If you follow these suggestions, you could be on your way to changing how much you pay for car insurance. For more information, contact a local insurance agency, like Combined Business Group.