(STL.News) We all know that being able to drive a car means greater ease and convenience in our lives. However, there are also many expenses you have to think about when you own and drive a car. This includes the cost of filling up the tank, repair and service costs, and the money you have to pay out for car insurance. When it comes to the latter, some people end up spending a fortune on their insurance. The good news is that there are ways to save money on the cost of this coverage.
So, how do people save on auto insurance costs? Well, there are various steps that you can take in order to do this and taking the right steps can make a huge difference to the amount you spend. Many people have been able to reduce the amount they spend on their coverage by familiarizing themselves with the necessary measures that can be taken. In this article, we will look at some of the ways in which you can cut your auto insurance costs.
What Can You Do?
There are lots of things you can do in order to reduce the amount you pay for your auto insurance. Some of the steps you can take are:
Increase Your Excess
When it comes to upfront costs for your insurance and claims, you have a number of options such as choosing no money down auto insurance. You can also choose the level of excess on the policy, which means the amount you pay from your own pocket in the event of a claim. If you choose a higher excess level, it can reduce your insurance premiums considerably, so this is something that is well worth doing if you want to cut premium costs.
Reduce Coverage Levels
Another thing you can do is to reduce your level of coverage in order to bring the cost of your auto insurance down. Of course, if you have a high-value vehicle, it is best to stick with a comprehensive plan, as otherwise, the costs to you could be huge in the event of an accident. However, if you have an older vehicle that is not worth a lot of money, it is well worth downgrading to a more basic level of cover. This can make a big difference to the amount you pay while still ensuring that you have adequate cover to meet legal requirements in your state.
If you want to cut the cost of your coverage, it is important that you compare plans from different providers rather than just renewing automatically with the same insurance company year after year. You will find that many insurance firms offer great deals and discounts for new customers, but once a year passes the cost of coverage rockets. So, you may be better off switching to a new insurance company each year and getting the best deals rather than putting up with rocketing premiums once you are no longer classed as a new customer.
Request a Mileage Discount
Some people do a lot of miles each week or month in their vehicle, and more miles they do the higher the risk of an accident and claim. On the other hand, there are those who do not really use their car all that much and their mileage per week or month is very low. If you fall into the latter group, it is well worth requesting a mileage discount to bring your premiums down. This can save you a lot of money on the cost of your coverage, as insurance companies will see you as less of a risk if you only cover a low number of miles in your vehicle.
Another thing you can do in order to bring your auto insurance costs down is to make use of modern technology. There are all sorts of tech devices you can use in order to make your car more secure, reduce your chances of a claim, and bring down your insurance premiums. For instance, make sure you have a good car alarm installed to reduce the risk of theft. Also, consider fitting gadgets such as a dash cam or tracker, as these can also help to reduce the risk of claims for accidents, damage, or theft. By reducing these risks, you can also help to reduce the amount you pay for your coverage because there is a lower chance of claiming.
Vehicles that are parked on the street are at far higher risk of damage and theft, and this is why insurance companies will often charge considerably more if you use on-street parking. So, if you want to bring down your cover, try to park your vehicle off the street when not in use. You should try to park it in your garage if you have one, or if not, on your driveway. If you do not have a driveway but you have some garden space at the front of your home, you may want to consider having a driveway put in.
Get the Cover You Need at an Affordable Price
All of these steps can help to ensure you get the auto insurance cover you need without spending a fortune. These measures are easy to put into place, and they can make a surprising impact on the amount you pay for your auto insurance cover.