The price of auto insurance has increased in the past years. Although driving their vehicles is a necessity for most drivers, some will even consider dropping coverage and become uninsured in order to escape from the increased insurance costs. However, there are some ways that can help drivers keep car insurance costs under control and even pay less on their premiums.
To protect themselves from sudden car insurance price spikes, policyholders can follow these tips:
Obey traffic laws. Many different traffic violations can lead to an increase in car insurance premiums. Even a parking ticket can remain as much as three years in a driving record.
Shop for online quotes periodically. Drivers are advised to scan the insurance market at least two times per year. Although many policyholders avoid doing this or they consider it to be unnecessary, not scanning the insurance market can be an expensive mistake that it can cost drivers hundreds of dollars each year. Also, brokerage websites will help policyholders compare insurance quotes in just a few minutes.
Review the insurance policy at renewal. Policyholders should carefully analyze their policies and see if they are not missing any discounts. Also, they can check if traffic tickets that should come off their driving records are still present.
Use multi-policy discounts. Policyholders can choose to insure all the cars from a household to the same insurer or they can insure different policies like car insurance, life insurance, and home insurance on the same policies. The discounts offered for these bundled policies can be really great, and in some cases, they can be as high as 30% of the insurance costs.
Avoid adding a teen driver to the policy. Insurance companies consider teen drivers as high-risk and charge them extra on their policies. To make their insurance costs more affordable, teen drivers can choose to drive a car that is cheap to insure. They can also try to get good grades at school and obtain a good student discount.
Be honest with the insurers. Hiding things like past traffic tickets or the existence of a new driver in the household can lead to severe financial penalties when the insurers find out.
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