Let’s Face it, Car insurance is more expensive than no insurance at all! However, auto insurance is something you are required to have, in it’s the most basic form of liability at the very least. So, it is often that owners will shop around in order to find the best rates for their vehicle. We are going to talk about some tips you can consider so that you can try to save as much money as you can when purchasing auto insurance.
1. Ask Around
In life, you may ask someone one thing and get one response. However, if you ask someone else you may get a response which is completely different from the response the first person had given you. This is no different in the Auto Insurance world. One insurance company may give you better or worse rates than the other. This is based on our records for the vehicle, and your age, among other factors. It is due to these factors that premiums have a wide range of variance. This is why you should do what you can and inquire with as many people to decide what is best for you.
2. What You Drive May Be Costing You Extra
We determine your rate based on 7 different things in our data:
A) Theft – We keep track of how many of the model of car that you drive. If your car has a high rate of being stolen, then you can expect a higher premium.
B) Durability and Safety – Is your car an unreliable model, with elevated repair costs, or poor safety? If so, you can be sure that this will affect your insurance rate.
C) Price – Does your car cost $30,000 or $300,000? If your car costs more, then more money is required in order to ensure it. This allows us to offset the replacement cost we’ll have to cover should something happen to your vehicle.
D) Performance – This is fairly simple for us to determine. If your car is fast, your insurance costs will go up because it is easier to wreck, which proves to be uncertain data wise. If your car is slower, it is harder to wreck. The vehicles with less performance tend to cost less to insure.
E) Repair Costs – If your car has a $2500 dollar annual service cost, it will be more expensive than a car with a $1500 dollar annual service cost. It is crucial in determining your rate that your car is simple to fix, and the parts aren’t too expensive as well. Often times luxury cars have a lot more features. While we enjoy having the convenience and comfort of lots of features, it does prove to aid in raising the repair costs should something go wrong.
F) Gender and Age – Men tend to have higher crash rates than women. This is also the case for younger people.
G) Driving History – Ultimately, your individual driving habits will determine how your rates look. If you get into 5 accidents a year, you can certainly expect to have high rates. If you have 1 accident every 5 years, you can expect your rates to be very low.
3. Claim All Available Discounts You Can
Ask about all of the different discounts we offer, it could save you a lot of money. We offer a wide range of discounts, including discounts if you pay semi-annually, new vehicle, and even multi-car discounts. If you have any questions, feel free to ask us about all the different discounts we offer.