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Ways to Lower Auto Insurance premiums

By Compuquotes Team on March 27th, 2008

Auto Insurance

Auto insurance can be expensive, but it may not have to be as expensive as what you're paying at the moment. Provided that you know what to do and are willing to inquire about it if necessary, there are actually several ways that you can reduce the premiums that you have to pay on your auto insurance. It's important to keep in mind that not all of these steps will result in an immediate reduction in your auto insurance premiums, of course; even if they don't, though, you're still going to be making a lot of headway toward lowering your premiums at some point in the future.

  • Older and wiser

Though it may seem a little biased, many auto insurance providers will offer you reductions in your premium after you've reached a certain age. Generally this occurs at age 25, though some will also offer a smaller reduction at an earlier age as well. These reductions are due to the fact that teenagers are statistically more likely to be involved in auto accidents than adults, so auto insurance agencies charge higher premiums for coverage that includes younger drivers. Depending upon your auto insurance agency, additional premium discounts may be offered at other age milestones as well.

  • Be a safe driver

Nothing makes your auto insurance company happier than having customers who don't get involved in accidents. While it's fairly common knowledge that having several accidents will cause your auto insurance premium to go up, a lot of people don't realize that if you manage to avoid being in accidents it can cause your premium to go down as well. Going for a long period of time without having any accidents to report shows your auto insurance provider that they can trust you not to drive recklessly and that you're not as likely to be involved in accidents, and this can lead to them reducing your premiums as a sign of that trust.

  • Take advantage of special programs

You may hear about special programs that certain auto insurance providers offer that result in lowered premiums. Don't be afraid to check in on these programs if they will end up saving you money on your insurance premium. There's no shame in changing your auto insurance company if it's going to save you a lot of money to do so, just like there's no shame in checking to see if you qualify for a program that your insurance provider offers that you weren't previously enrolled in. You pay a lot for your auto insurance coverage, and it's important that you do what you can to get the most coverage for what you pay.

  • Ask for a reduction

Not all auto insurance companies will inform you whenever you're eligible for a reduction in your premium. Some may not review their older policies frequently, or it could be that you somehow got overlooked accidentally. Regardless of the reason why you didn't receive a premium reduction that you were eligible for, it happens from time to time. Don't be afraid to ask your auto insurance agent if there are any reductions available to you if you feel that you deserve them. Mention your safe driving record, your loyalty to the company, or anything else that could possibly provide you with a rate reduction. It's said that there's no harm in asking, and there's at least a chance that asking could net you a significant savings on your insurance costs.

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