How Can You Lower Your Car Insurance Costs?

Posted on 18 February, 2022

Though it’s a financial necessity and state requirement for operating a motor vehicle, the expense of car insurance can be overwhelming for many people. A cheap way to cover basic risks is a minimum liability policy, but this could lead to inadequate coverage and greater costs down the road. Rather than choosing between the lesser of two evils, here are several ways to lower the cost of insurance.

7 Tips on How To Lower Car Insurance Premiums

The rates for car insurance vary between provider and policyholder. However, there are a number of common situations and strategies to help reduce the overall cost of your premiums.

1. Look Into Bundling Discounts

One way of getting discounted car insurance is through a provider who offers a bundling discount or a multi-car discount. Using the same insurer for your home and automobile is often cheaper than using two separate providers. Multi-car policies also tend to have lower rates than single-vehicle insurance policies.

2. Keep a Good Credit Score

Your credit score is a factor in your premium rates, and the better your score, the better your rate. Take care of your credit by paying all your bills on time, keeping a low debt-to-income ratio and having a diverse but lengthy credit history.

3. Invest in a Defensive Driving Class

Some providers will extend a discount for policyholders who complete a defensive driving course. These courses may be required by a judge if a driver has a number of violations on their license, and completing the course could remove points from the license. This can improve the insurance rate.

4. Be a Better Driver

Any moving violation or accident on your record will impact your car insurance premium. Become a better driver by limiting distracted driving situations, practicing defensive driving strategies and obeying posted speed limits and road signs.

5. Shop for Better Rates

If you’ve been with an insurance company for a long time, you should consider checking into rates from leading competitors. Cheap insurance doesn’t mean you are getting the best coverage. Shopping for a new rate could lead to more coverage for the same price, leading to a better deal for the insured.

6. Change Your Deductibles

The deductible is the out-of-pocket cost you pay before the insurance takes care of repair costs or reimbursements. By increasing the amount you pay, you can lower your overall premium. The catch is that a claim could see you paying more.

7. Opt for Downsizing

Certain vehicles can make your premium increase. A hybrid or lower-cost commuter car will often cost less to insure. You also get the added benefit of helping the environment by lowering fuel usage.

Proactive Decisions

Lowering the cost of car insurance depends heavily on your proactive decisions. These are just a few ways to pursue lower premiums.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

info@byrnesagency.com

Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360