Car insurance is one of the most substantial running costs attributed to owning an automobile, and, because you are legally obliged to be covered by it, there is no getting around your insurance costs.
However, this is not to say that it is impossible to reduce the amount you pay for your car insurance. In fact, there are a number of different ways that you can reduce the figure in your next insurance quote.
You could, for example, downsize to a smaller car. This has the potential to lower your car insurance figure because larger, more prestigious cars with larger engine capacities are usually marked up in insurance cost for obvious reasons – they are more valuable and, therefore, more costly to replace or repair in the event of an accident.
Conversely, you could try to bring your premium down by improving your driving record, or even park your car in a more secure location.
Here are three ways to reduce your car insurance costs:
Downsize to a smaller car
Downsizing to a cheaper, smaller capacity car may not be the most inspiring move in the world, but it is almost certain to lower your car insurance cost.
There are a couple of reasons for this.
Firstly, as mentioned above, your car insurance quote is configured largely due to the value of your car. If your car is expensive, has a big engine, and is relatively rare, you will be looking at a potentially significant price hike.
Furthermore, more powerful performance cars may be judged as harder to drive, or more likely to be caught up in an accident by your insurance provider, so will likely command a high premium for this reason, too.
Take your time when searching for car insurance. Some auto insurance companies base their premiums on your driving history, and can provide cheaper car insurance quotes for Las Vegas drivers and drivers in other cities.
Avoid getting into incidents
Another way you can potentially lower the cost of your auto insurance is to clean up your driving record.
The only way to do this is to stop getting into incidents on the road. It is that simple.
Although you can’t help it if another driver has bumped into you, or you have been caught up in someone else’s accident on the highway, you can certainly reduce your chances of being involved in an incident by remaining vigilant at the wheel.
Having a clean driving record also means staying out of trouble with the law. If you have a penchant for receiving speeding tickets, for example, then you need to cut it out immediately if you want to receive a more competitive insurance quote.
Garage your car if possible
One way in which certain insurance providers calculate your quote is to ascertain where you park your car at night.
There is a simple reason behind this. If you live in a rough neighborhood and you tend to park your car out on the street, then you are more likely to have it stolen than someone who lives in a prestigious gated community and parks their car in the garage every night.
While you may not have the luxury of moving to a better end of town, you can always increase the chances of lowering your insurance by garaging your car – or at least park it on your driveway.