No one likes to see their auto insurance premiums increase especially if they werent involved in an accident or had their vehicle stolen. There are, however, other factors to consider when calculating rates. Its important to be aware of these influences as you try to keep your insurance premiums down.
Keep a Clean Driving Record
Reckless drivers pay the price for their carelessness with higher insurance rates. Speeding, driving under the influence and texting and driving (in some states) are all moving violations that can increase your premiums, especially repeat offenders. Non-moving violations can also play a part in how rates are calculated. These include parking tickets and correctable violations such as broken tail lights. Avoiding these types of situations can help lower your insurance costs.
Your Age
Insurance rates are typically higher for young and elderly drivers because their risk of being involved in an accident increases. Unfortunately, there is nothing you can do about your age when applying for auto insurance; however, some carriers wont chastise you as much as others. Keep a lookout for companies that offer discounts for teens who are insured through their parents policies.
Increase Your Deductibles
By raising your monthly deductible, which is the money one pays before the insurance policy kicks in, you can lower your comprehensive and collision coverage. However, make sure you can afford a higher deductible; keep at least that much put aside if you need it.
Keep Your Vehicle Safe
Having specific safety devices such as passive restraints and airbags could lower the chance of being severely injured in an accident. This helps the insurance company from paying high medical bills if need be. Also, installing a car alarm lowers the chances of your vehicle being vandalized or stolen, which in turn will help lower your rates.
File Larger Claims
Consistently filing small claims will eventually raise your insurance premiums. Make sure the claims you do file exceed your deductible by more than just a few hundred dollars. Paying for these smaller vehicle losses out of your pocket will be beneficial in the long run.
The more you know about how insurance and premiums work, the more you can save over time. These are only a few of the key factors insurance providers use to determine your coverage and rates. If you are injured in an accident and need help understanding your insurance coverage and rates, contact the NW Injury Law Center for expert advice.
