How does it feel to travel in your uninsured car? You are not putting yourself in danger physically but also financially. When you meet a vehicular accident or your car needs immediate repair, overhaul, or maintenance and you do not have your cash, the next thing you can do is to run to your car insurance company.
But a car insurance policy is definitely not a joke. You will probably spend hundreds or even thousands of dollars for it, depending on your coverage. Is there any way that you can probably save some cash? There is! Here are 6 effective ways to save money in your car insurance:
1. Monitor your credit rating.
Just like when you apply for an auto loan, you are still going to need your credit report if you decide to apply for a car insurance. Also, when your credit report states that you are definitely a delinquent payer, you will either get disapproved of your application or you have to shoulder extremely high insurance premiums. If you want to relieve yourself of this situation, make sure that you have already improved your credit rating before you apply for a car insurance.
2. Drive less.
There are several insurance companies that offer policies who drive less than or equal to 7,500 miles per year. What do they enjoy? They can get a discount from their policies. This means they pay less premium compared to other car owners who are driving the same car. If you do not have any reason to drive or if you think that you can walk from one location to another, then you better leave your car in your home. Use it when it is clearly important. Besides, would not it be fun when you can at least move those muscles in your legs and take your own pace?
3. Buy a car for practical reasons.
If you want to lower down your premium, you may want to purchase practical cars rather than those that are considered luxurious or top of the line. There are many reasons for this. First, cars such as SUV and high-end automobiles are easy targets of theft and vandalism, which may mean huge expense for the car insurance company. Moreover, based on studies, people who own these types of vehicles are usually reckless drivers, thus, ending in vehicular accidents. Unless you badly need to be flashy about it, stick to low-key cars like sedans. Besides, you can definitely save from maintenance costs.
4. Make sure your car is equipped with safety devices.
Insurance companies factor in the rate of your car being a victim of theft or vehicular accident when they are going to calculate your premium. Of course, the higher will be your premium if it does not have an antilock braking system or when it is not equipped with a side-impact airbag. If your car does not have these, learn to invest. After all, it is going to be a one-time payment compared to paying exorbitant premiums every month.
