Car Insurance Premiums
Your car insurance premium is based on various factors, including your driving record and the history of the vehicle you are insuring. When you purchase a car, try to choose a model that exceeds safety records. This will save you up to $200 a year on your premium. Your premium is higher if you own a car that has a high theft rate. Choosing models that are not attractive to thieves can also save some serious money. In addition, cars with anti-theft devises can save up to 15% on your insurance.
If you are looking for the lowest premium, take these factors into consideration when purchasing a car, Check the crash tests on the model you are planning to buy. If the ratings are high, you may be eligible for additional savings on your insurance.
To increase savings, be aware of any discounts the insurance agency offers. Most companies offer a variety of discounts. One of the most popular is the anti-theft discount. The amount you will save will depend on what type of device is installed in the car. If it is factory installed, you will usually receive the lowest discount. Advances systems will offer a higher discount.
Another great way to save money is by taking advantage of the combined policy discount. If you have homeowners insurance through a different agency, consider changing insurance companies. There are many companies that offer home and car insurance together. If you combine the two into a new policy, you could save a great deal of money over the course of the year.
Most people do not realize that their credit rating has an impact on the cost of their premiums. Insurance companies strongly believe that drivers with good credit ratings are less likely to be involved in an accident. If you have good credit, you are very likely to see a decrease in your premium. This is one discount that you cannot apply for. It is taken into consideration when the policy is written. Your credit rating is checked at the same time you’re driving record is checked. These two things combine to make up a portion of your premium. If possible, check your credit rating regularly to make sure there are no errors. Many times a credit rating will plummet based on an error. These errors will end up costing you a lot of money, especially on your premium. Try to restore bad credit remove any errors from the report.
Some insurance companies will make certain allowances for certain vehicles. This is determined by how effective the vehicle is at protecting passengers when an accident occurs. Preferred vehicles could save you $50 per year.
Your driving record is very important when trying to keep premiums low. If you have frequent accidents, you will have a very high premium. Many companies reward safe drivers with discounts each year. If, over the past three years, you have had no accidents or moving violations, you could be eligible to save as much as 40% off your premium.