How to Get Cheaper Car Insurance
You don't have to overpay for car insurance.
Car insurance is an added cost when buying and keeping a vehicle. While it is usually regarded initially as a financial burden, most Americans rapidly recognize the importance of having reliable auto insurance with comprehensive coverage.
The National Highway Traffic Safety Administration (NHTSA) estimates that around 5.8 million car accidents occur across the U.S. annually. The nation shoulders about $230.6 billion in costs incurred from car accidents yearly—that’s about $820 for every U.S. citizen. Unfortunately, the authorities warn that the number of vehicular accidents continues to rise every year.
“Around 5.8 million car accidents occur across the U.S. annually.”
This is why buying a car insurance policy is a necessity for each American driver. Auto insurance is a cost that sets financial protection in case the car figures in a road mishap that may result not just in damage to the vehicle but possibly also to other people’s properties, and or to their person. As a car owner, you can be assured that somebody else will cover most of the costs incurred from a car accident, which will greatly reduce the hit taken on your personal finances.
Here are some ways to find and buy an auto insurance policy with a wallet-friendly premium.
1. Comparison shopping for the best premiums.
On average, an American driver spends about $1,000 on car insurance with minimum liability coverage annually. Based on the latest statistics, car owners who spend time comparing quotes online before signing up for a policy pay just $500 yearly on premiums. This stat illustrates the power of comparison shopping when buying auto insurance.
“Car owners who spend time comparing quotes online before signing up for a policy pay just $500 yearly on premiums.”
2. Buy a car with impressive security and safety features.
Did you know that the brand, model, and type of your vehicle can directly affect the premiums imposed for insuring it? Latest technology on airbags, anti-lock brakes, engine cut-off systems, anti-theft mechanisms and all other safety and security features will definitely score points to qualify you for discounts on auto insurance premiums. Insurers rely on statistics indicating that such safe and secure vehicles are less likely to be involved in road accidents.
3. Take higher deductibles.
How much are you willing to personally pay in the event of an insurance claim? That is your deductible and you can set it either higher or lower, depending on your preference and budget. If you’d prefer a lower premium on your car insurance, you can set your deductible higher. This is advisable if you are confident enough in your driving skills and that you won’t figure in any accidents during the insured term.
“If you like to get a lower premium on your car insurance, you can set your deductible higher.”
4. Enroll in a defensive driving course.
Most insurers reward certified safe drivers by giving them incentives in the form of discounts on premiums. You can’t just claim you’re a good and safe driver; back it with a certification from an accredited institution and you’re all set. Sign up for a safe driving course now, whether you’re a newbie or an expert.
5. Clear your garage.
Don’t ever forget what your garage is for—a safe place where your car should be parked while you are at home. As a rule of thumb in the car insurance industry, cars that are parked in designated garages at home should command lower premiums. The reason is quite logical—keeping a vehicle safely in the garage lowers any risk of theft and unlikely incidents resulting in damage due to negligence and unsafe driving practices of neighbors and passersby.