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How to Lower Your Car Insurance Premiums

Updated on April 2, 2015
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Six infallible tips on how to lower your car insurance premiums

After five weeks studying and analyzing auto insurance price quotes, trying to find the cheapest and most convenient car insurance, I finally found the one I was looking for. However, everyone has different expectations when it comes to their car insurance. An insurance that is perfect for me is not perfect for my neighbor. I will reveal the most important pieces of knowledge that I gathered during my bumpy ride trying to find the best car insurance for me and I am sure this will help allthose interested in finding their own best cheap car insurance.

You can lose a whole week or even more than that, depending on how much you dedicate yourself to finding the best cheap car insurance. Before you make your choice, there are a couple of things you need to take into account when attempting to get the best benefits for the lowest price. It will take a little while but in the end you will be able to save a considerable amount of money. You should not rush, as you will probably miss important details in the process.

The best car insurance is the one with the best coverage and the lowest car insurance premium. But finding it is not so sample, as opting for the lowest prices will probably be a mistake and lead to higher costs in the end. My car insurance did not seem too expensive in the beginning but my expenses were increasing every month including gas, electricity, water and rent and in the end I really started to feel the car insurance premium burdening me. That is when I started to think about how to save some money and avoid negative stress. A friend of mine told me that I could be paying a much lower rate and keep exactly the same coverage if I only follow some basic rules and stick to them. It should be noted that it was just a matter of details.


Your personal information plays a significant role

Every insurance company establishes its prices based on the personal information of the client, for instance the client’s credit history, profession, marital status, age, age of the car, etc. These details will define each individual`s insurance premium. Once this part of the process is completed, people sign the contract and simply start paying their insurance premium on a monthly basis and even when the personal circumstances have changed, they do not consider doing new research on auto insurances or even changing their insurance. People’s lives change when they move to another city or state, change jobs, marry and have children and these life changes have to be considered for one’s personal car insurance. That was the mistake I was committing.

As different conditions result in different insurance premiums, every change in your life can make a difference.

1. Talk to the insurer: Before concluding a car insurance contract or even if you are already insured, talk to your insurance company and inform them about everything you do with your car and changes that occurred in your life. Auto insurance price quotes can vary dramatically based on details that we would never take seriously. When talking to your insurer, answer questions that they did not even ask. If your teenage son does not have permission to drive your car, it makes your car safer; if you do not drive to work every day, it makes it safer. Every detail counts. I used to leave my car in my driveway instead of putting it into the garage to make it easier to go to work the next day. However, putting your car into the garage can lead to a discount of your car insurance premium. With your car in the garage, it is kept much safer. And that is exactly what auto insurance companies are looking for; people who take care of their car. Just because you have a car insurance does not mean the car should be treated with neglect. Basically, every time your life changes, your insurance premium could change as well.

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2. Compare prices: It is also very important to keep researching prices. Different companies provide different auto insurance price quotes. Even car insurance experts say that one should compare auto insurance price quotes at least once a year. There are lots of websites out there that can help you find cheap car insurance suited to your needs and your current lifestyle. If you are looking for good websites to compare car insurances try one of the following:

For the UK

http://www.tiger.co.uk/

For the US

https://autoinsurance.com/

http://www.compareautoinsurance.com/

If talking to your insurer does not get you the success you wanted, at least you were able to gain some valuable knowledge. Many times, I spoke with my insurer about prices and changes in my life and consequently I was granted a lot of useful information. I also found out that safe drivers pay lower contributions. But how can you prove that you are a safe driver?


3. Be a safe driver: Stay away from fines that ruin your image and make your insurance company consider you as a reckless driver. Car accidents also tell them that you are not a safe driver and people with those profiles pay more.
If you take a defensive driving course, show it to them. It is the best piece of evidence of your safe driving skills you can provide your insurer with. Here is another tip of how to be a safe driver, watch this video!

http://www.youtube.com/watch?v=COyr2qzRyWY&feature=related

Obviously, we should also avoid fines and accidents if we are not thinking about lowering the price of our insurance as our priority should be keeping ourselves and others safe on the road at all times. Show your insurance company that you are a good driver and care about the car and about safety; install some equipment in the car such as side air bags, anti-theft devices and automatic seatbelts. But try not putting unnecessary features in it as this could increase the value of the car, automatically raising your car insurance premium.

Before signing a contract with a car insurance company, be attentive to some changes you may soon go through in your life.

4. Make convenient decisions: If you are planning on marrying soon, wait a bit and sign the car insurance contract after the wedding. In case you move, you are going to have to look for a household insurance and you will most probably need two car insurances if you have two cars. Sign all of the insurances with the same provider. Every insurance company gives discounts in those cases.

This is a compilation of all the knowledge I gathered after weeks of studying and researching. But for those of you who want to go the extra mile, follow the last piece of advice which is the ultimate safety tip that can lower your insurance contribution by 3% to 15%.

Traffic with 73 solo drivers vs. traffic with 73 commuters using commute alternatives including bus, carpool and vanpool.
Traffic with 73 solo drivers vs. traffic with 73 commuters using commute alternatives including bus, carpool and vanpool. | Source

5. Be eco-mobile! Carpooling or driving less can reduce your car insurance premium as many insurance companies offer a "low-mileage discount". If you drive fewer miles than the average driver each year, you should definitely mention this to your insurance company. And by carpooling and driving less you will be able to kill two birds with one stone. Carpooling means there will be one less car on the streets that pollutes the environment. You can reduce your carbon footprint and feel much better apart from negotiating a better price with your insurer. You should try it!

Porsche's world-class hybrid technology: 911 GT3 R Hybrid

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6. Drive a Hybrid Car

Believe it or not, driving a hybrid car might get you a discount of 10% on your car insurance. The reason for this is that hybrid cars are usually driven by the age group of 40 to 60 who usually possess the profile of safe drivers. Besides, they cannot drive their hybrid car for long distances, as technology does not permit this yet in an efficient way. This results in lower mileages and a reduced risk of accidents. These factors are well appreciated by car insurance companies.

Traffic with 73 solo drivers vs. traffic with 73 commuters using commute alternatives including bus, carpool and vanpool.
Traffic with 73 solo drivers vs. traffic with 73 commuters using commute alternatives including bus, carpool and vanpool. | Source
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Bonus: Try protecting your car with VINshield™. The VINshield Auto Theft Deterrent System is applied to the windshield, side windows and back window. Car insurance companies see it as a safe prevention as it makes it harder for the car to be sold in case it was stolen. It is a permanent, silent protection of your car and your insurer will love it.

I hope these pieces of advice were helpful for you and it will work for you as much as it worked for me. Let me know if you have any questions. Remember to consider the details of your life changes and talk to your insurance company, compare auto insurance price quotes, be a safe driver and last but not least sign the insurance contract at the right time. Without any doubt, you will see the difference in your wallet at the end of each month. Don’t wait any longer!

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      Pharmf760 5 years ago

      Very nice site!

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