If you are a driver, you likely know that auto insurance premiums can be expensive. However, it doesn’t have to be that expensive! An informed and educated insurance consumer can find ways to save money on their insurance. Here are some of the Rizk Insurance’s strategies for saving money on your auto insurance premiums:
Working with an Insurance Broker
The first step in auto insurance savings is to compare different plans and prices. Become educated about what each insurance company is offering you. One of the best ways to do this is to go through an insurance broker. There are many different insurance companies and policies out there. An insurance broker takes the time to shop around for you and matches your needs to the right insurance company for you.
Consider the Vehicle before Purchasing
Before you purchase your next vehicle, take the time to assess your needs and shop around. All vehicles have different safety records, likelihoods of being stolen, average repair costs, etc… Many insurance companies will offer discounts for vehicles that reduce the risk of injuries or theft. For example, Aviva Insurance now offers Autonomous Emergency Braking (AEB) discount. Discussing the expected premiums with your insurance broker prior to purchasing your next vehicle will assist in providing you with a full scope of the purchase.
Consolidate Your Insurance Policies
Do you currently have a separate insurance company for your home and auto insurance? Consider consolidating these policies for additional savings.
Obey the Rules of the Road
Avoid excessive speeding and traffic violations. The easiest way to avoid increased insurance premiums is to practice safe driving habits.
For some people, choosing a higher deductible will result in lower monthly payments. Although this may pay off if you never need to make a claim, in the event you do end up in an auto collision you will have to then pay the increased deductible.
Protect Your Vehicle
One way to avoid an unwanted claim on your auto insurance, and ultimately save money, is by installing an anti-theft device in your vehicle. Also, ensure you never leave valuables visible in the car (including garage door openers and any visible address particulars). Place these valuables in your truck or out of sight in the cab of a truck. Finally, remember to always lock your doors!
Good Credit History
Keeping a good credit history may also be beneficial in your auto insurance search. Many insurance companies use credit history to price their auto insurance policies.
New technology is being experimented with and utilized which allows your insurance company to monitor your driving habits. Insurance companies can use this information to reduce the insurance rates for good drivers –> Read more about Driving Apps Here!
Although auto insurance can be expensive, doing your research before you sign onto your next policy, may save you money.
Do you have questions on this article or about auto insurance in general?
Contact Rizk Insurance today and we’ll help answer any inquiries you may have.