Last month we looked at a few of the factors that are most likely to impact your car insurance rates. This month we’re taking a close look at a few more factors–and this time, we’re talking about things you can likely control to lower your car insurance rates.
Keep reading for the full scoop! Some of these factors might surprise you.
1. Make Sure You’re Taking Full Advantage of Discounts
Insurance companies offer discounts for a wide variety of reasons–and if you haven’t asked about these discounts, you could be missing out.
Here are a few of the most common auto insurance discounts:
- Military Discounts. Many insurers offer discounts for veterans, reservists, and active duty service members. If that’s you, don’t hesitate to ask your insurance company if they offer discounts for those who serve.
- Student Discounts. High school and college students pay some of the highest insurance rates, mostly because of their age and inexperience driving. But many students can catch a break by maintaining great grades and sending a transcript to their insurance company. Wondering if your insurance company rewards high grades? It can’t hurt to ask.
- Safe Driver Discounts. If you have few or no accidents on your record, ask about safe driver discounts; many insurance companies reward the safest drivers with lower premiums.
2. Keep Your Record Clean
This probably doesn’t come as a surprise, but tickets, accidents, and other violations can all impact your insurance rates. You obviously can’t change your existing history, but you can work on building a new, safer driving background. Driving defensively, slowing down, and keeping your driving record as clean as possible. Insurance companies take this info into account when pricing policies, and if you have a record, you’ll be seen as a greater risk to insure.
3. Drive Fewer Miles
Opting to take public transportation more often and taking a train or plane rather than long road trips could save you a chunk of change on your insurance. Insurance companies typically ask how many miles you drive each year and factor that number into your rates; the more miles you drive, the higher risk you are to insure. So if it’s a possibility, taking public transport could be great for your pocketbook (and the environment).
4. Car Shopping? Keep An Eye Out For Safety Features
If you’re planning to buy a new or new-to-you car at some point in the near future, make safety features part of the research process. Cars with higher safety ratings and features like antilock brakes, traction control, and lane change alerts cost less to insure than their more conventional counterparts with lower safety ratings. Given a choice, opt for a safer vehicle with souped-up safety features, and your insurance costs might go down rather than up.
5. Work on Your Credit Score
Some insurers use your insurance credit score as a factor in determining your insurance rates. Work on raising the number of your credit score, and you could end up lowering the amount you spend on auto insurance each month. A huge part of this is simply making on-time payments and using a lower percentage of your available credit.
Luxor Insurance Group can save you money on your auto insurance policy. Give us a call. We’ll help you figure out what discounts you qualify for and help match you up with a policy that fits your concerns and your budget!
