Should you abandon your insurance coverage just to save some cash? It is definitely not the right thing to do and you probably will not be able to shed all of it because every state requires you to have a minimum coverage. And is it not a wise move to opt for inadequate coverage. This is because it can cost you dearly when you are in need of compensation. So, follow these insurance tips that can make your auto insurance policy affordable.
o Increase deductible
Deductible is the cash you have to shell out before your auto insurance policy becomes effective. If the deductible you pay is high, you can avail lower insurance premiums on your automobile.
o Improve your credit
It is important to have a good credit rating so that the auto insurance carriers offer you favorable rates. If you have ruined credit, not many insurance carriers may be willing to work with you.
o Have a safe driving record
Try to have as less number of speeding tickets to your credit as possible. Don’t violate traffic rules. Take driving classes if possible. The fact that you have undergone training in driving can be an added advantage when you approach a vehicle insurer for better rates.
o What type of car do you drive?
If you drive a luxurious car, you will have to pay more as premium. On the other hand if you drive a less expensive car, you will have to pay lower premium.
o Do you have safety devices installed in your car?
One of the insurance tips that can help you to lower the cost of coverage is installing safety devices. Air brakes, anti-theft alarms etc are some of the devices that can help you to save money.
o Where do you live?
If you live in an area which is congested and the incidence of theft or criminal activities is pronounced, you will have to pay a higher premium for covering your vehicle.
Studies reveal that when recession was at its peak, many auto insurance policyholders in different states turned to unfair means so that they didn’t have to pay their premiums. One of the common occurrences was barbecuing a Beamer in which a vehicle owner sets his car on fire. There were others who pushed their cars off cliffs and hills etc. However, you do not have to adopt such ways if you can decrease the cost of your auto insurance coverage by following the auto insurance tips mentioned above.