Since our economy has entered the recession, more and more people are seeking ways to reduce their expenses. These cost cutting measures include doing without luxuries and taking advantage of any opportunities to reduce costs. As a result, this article seeks to provide tips for lowering your monthly insurance premiums.
First, whenever you are looking to purchase automobile insurance, you should ask your insurance agent about any discounts. There are literally discounts out there for everything. As a few examples, there are discounts for taking a defensive driver course, having good grades in school, having certain safety features on your vehicle, have multiple cars covered with the same company, and even senior citizen discounts.
Next, as a customer, you need to ensure that your insurance policies provide adequate coverage but not too much coverage. Of course, you may be wondering, “How do I know what I need” or “What Should I Have in Terms of Car Insurance?” Luckily, most states’ Department of Motor Vehicle websites list the minimums required for that state, so you can use that as a good starting point.
The next thing you can do to lower your insurance premiums is raise your insurance deductible. If your current deductible is $250 and you can afford to raise it to $1000, you can significantly lower your monthly insurance premiums. While this is a great way to reduce your premiums, you need to make sure you have this money available. If you do not have this money available, the insurance company may not pay your claim.
In conclusion, if you implement these tips, you are guaranteed to lower your monthly insurance premiums. While today’s economy is slowly getting better, we know that you want to take every opportunity to lower your monthly expenses now.