Often times car insurance premiums can take a serious chunk out of your household budget. As of May 2009, the average price of car insurance premiums rose to $1,837 yearly. However, the price of not having coverage can be a disaster if one member of the family has an accident and needs to pay for the price of repairs. Thankfully, there are a number of steps which you can take to obtain the cheapest car insurance rates.
Car insurance providers are usually willing to provide discounts on coverage if you possess devices like crook locks and alarms put onto your vehicle in order to deter a thief. Most providers additionally provide significant discounts to drivers who take courses in defensive driving. A vehicle owner’s record of driving is a few of the determinants for the rate they’ll be charged by the insurance companies and attending the course can signal to the insurer that you’re willing to go out of the way to be a safe driver.
An additional method of getting the cheapest car insurance rates is by maintaining a great credit record, as your standing of credit is a few of the factors that aid in determining the premium you’ll be charged for the policy. If your credit isn’t in good standing, you may wish to obtain coverage from an insurance company that doesn’t perform credit checks. If you’re a member of an organization such as a college fraternity, or a credit union, you may have the ability to obtain discounts based on your association, in these cases you will need to check with the insurance provider.
You can also obtain the cheapest car insurance rates if you possess many policies from a single provider. For instance, if you know a provider who provides both auto and home insurance, you may have the ability to receive a discount if you have both forms of coverage from one provider rather than from separate companies. The discount can amount to as much as 20%.
You may have the ability to save money on the policy by increasing the deductible and lowering the number of collision and comprehensive coverage. This can result in smaller monthly premiums that may free up some instant cash. Nevertheless, you need to make sure that you can cover the deductible in case you have an accident.
If you’re obtaining coverage for teen drivers, you can receive the cheapest car insurance rates by choosing a safe car model for your teenage driver. Safer car models such as sedans are often at low risk and can result in lower premiums. Sports vehicles and automobiles which are prone to speeding violations are often at a higher risk than older vehicles, which might have a lower risk of receiving traffic violations or getting into accidents. Additionally, most providers offer discounts to teenage drivers with excellent grades, and the ones who enroll in classes for driver’s education.
If you’re in a high-risk category and are quoted premiums that are too expensive or refused coverage altogether, you may have the ability to receive the cheapest car insurance rates by taking out a policy via the insurance commissioner of the state. The coverage might be minimal, but you will have the reassurance of being insured.