Easy Ways to Help Reduce Your Car Insurance Premiums
Having insurance is a must if you plan on taking your car out on the road. In the event of a collision or accident that damages your vehicle or injures you or your passengers, insurance can kick in to help you foot the bill to make any repairs or to cover the costs of medical bills. But the price you pay for your insurance premium doesn’t necessarily have to break the bank. Instead, there are things you can do to lower your premium rate so you’re not stuck paying more than necessary.
Ask for a Higher Deductible
Deductibles refer to the amount of money you would have to pay before your insurance policy is activated. By asking for higher deductibles, you can lower your overall costs quite a bit. For instance, increasing your deductible from $200 to $500 could lower your collision coverage cost by as much as 30 percent. Savings can be even more if you choose a $1,000 deductible.
Reduce Coverage on Older Vehicles
It might not make too much sense to keep collision coverage on a lower-value vehicle, because the insurance costs alone could even exceed what you would get back on an insurance claim. It might be worth it to take a moment to assess the real value of your vehicles to see if they are worth having so much insurance coverage on. Be sure to contact your insurance agent to get California car insurance quotes.
Ask About Discounts
Many insurance companies offer discounts in certain specialized situations. For instance, drivers with a clean driving record may be rewarded with discounts. You may also get discounts if you combine insurance policies with another vehicle, or with your home insurance. These bundles can help you save quite a bit of money on your overall insurance premiums.
Keep Your Credit Strong
The state of your credit score could play a role in your auto insurance rates. Even though good driving habits are the ideal way to keep your costs low, fixing a damaged credit score can help in many aspects, including with your insurance premiums.