Looking To Reduce Your Auto Insurance Premium? Here's Where To Start
If you're looking for creative ways to reduce the amount you spend on bills each month, one approach is to take a look at your auto insurance policy and consider making some changes. Although you might be able to save some money by shopping for a quote with a competing insurance company, a simpler strategy is to make a handful of changes and then contact your company to determine the degree to which the changes will save you money. In some cases, it's valuable to contact the company before you make a change, simply so you'll know whether doing so is worthwhile or not. Here are three simple changes that can equate to a lower auto insurance premium.
Take Public Transportation
Part of the cost of your auto insurance policy provides coverage for your vehicle if you drive it to and from work every day. The daily time spent on the road theoretically increases your chance of an accident, which means your insurance premium will be higher. If you find an alternative way to commute to work, such as taking public transportation, riding your bike or traveling in a carpool, contact your insurance company to advise it of the change. You'll likely be offered a lower rate because your car is spending less time on the road.
Pay Annually
People commonly pay their auto insurance premium in monthly installments as a cost-savings measure. After all, it's easier to put aside a bit of money once a month than a larger chunk annually. However, switching your policy so that you pay once per year is an even better way to save money. Contact your insurance company and ask about the price reduction you'd experience if you paid your full premium in one lump sum. If the savings are significant enough, try to find a way to set aside this money throughout the year.
Improve Your Driving Skills
Although being a safe driver for a certain length of time can often lead to a reduction in your auto insurance premium, you can also be proactive by enrolling in a defensive driving program that helps to heighten your skill behind the wheel. Graduating from such a program shows your insurance company that you're serious about safe driving and the company will often reciprocate with a reduction in your premium. Speak to a representative from your insurance company first and ask for a list of the accredited driving programs in your city.
To learn more, contact an auto insurance agency like Kirby Soar Insurance.