Maximizing your Auto Insurance savings
Getting the maximum benefits from what you pay for your auto insurance coverage can be achieved by various methods. Although, you are not able to change many of the risk factors that apply to you, money can be saved, such as by taking advantage of the discounts insurers are prepared to offer for your business. This will depend on how your driving manner affects and lowers your risk factor.
You can influence these perceptions by driving below the recognized average miles per year and enlisting for defensive driving tuition. Other influencers include being a senior citizen and installing security equipment in your car, for example; an alarm device and an anti-locking braking system. However, one of the big motivators towards saving on the cost of your coverage is by linking your auto and homeowners policies. Like any other product, buying bulk is cheaper and an insurer will sometimes reduce premiums by up to 15% for multiple policies.
Safe and competent driving
Driving safely is always a primary factor related to auto-insurance and maintaining a clean driving record, for a minimum of three years, is a way of keeping your insurance premiums at a low cost. The emphasis is on this aspect of vehicle ownership from the authorities and insurers. Again, advanced driving courses could help you qualify for a premium discount, as well as improving your driving ability.
Admittedly, not everyone can afford to buy a new car on a regular basis, but you can own a car that does not cost a fortune to repair. Also, car thieves are selective when it comes to stealing a vehicle, so carry out some research on the Internet and see how your current model is rated on the theft scale. Models that are popular with thieves, like those that are expensive to repair, can increase your insurance premium.
Search for savings
Make a point of discussing with your insurance company or broker the various ways of saving on your insurance coverage. As soon as the number of claims from an insured begins to rise, the red flags appear, with some insurers refusing to renew policies if there are over two claims in three years. Therefore, if you are able, carry a greater part of the risk yourself, such as paying for repair costs under $1,000, it could make a difference in your premium.
On average, the driver of a car makes one claim related to a collision every three years and one that is comprehensive every ten years. By your increasing the deductible for collisions on your auto insurance policy significantly, you could save in the region of 30% annually on your premium. However, it still revolves around your standard of driving.
Keeping your records up-to-date is important as Insurers can access all types of personal information, including not only your credit and vehicle records, but your insurance claims history. Therefore, there is no benefit in trying to mislead them about your driving and insurance history.
However, any authority can make a mistake and if there is a negative entry on your records, it could appear that you are a worse risk than in fact you are. To check that all your details on record are correct, obtain a credit report from the various credit reporting services and if there is a mistake, correct it quickly.