Here are some tips I got from few sources to help you get a reasonable insurance premium, looks quite make sense to me:
1. Ask For Higher Deductible Values. Perhaps you already know that deductible is the amount of money you have to pay every time you make a claim. By increasing your deductible value let’s say from $200 to $500, you can decrease the cost of your comprehensive premium by 15 to 30 percent and so on.
2. Drop The Coverage You Don’t Need. Protecting old cars with a low market value with collision / comprehensive cover is a waste of money, because any claim you make perhaps lower than the premium’s cost and the deductible amount.
3. Don’t Duplicate Medical Coverage. You can ask your insurance company to remove the personal injury / medical protection from the policy schedule if you already have a good health, life and disability insurance.
4. Buy a Low Profile Car. This tip is a kind of hard to follow because it’s related to people’s taste for private vehicle. But it’s true that it’s more expensive to insure a car that costs a lot to repair, popular amongst car thieves or known as a vehicle that’s not having a good safety record. As a recommendation to see vehicle’s risk levels you can visit Insurance Institute For Highway Safety’s Website.
5. Lessen Drive. Have you ever heard of “low mileage discount”? actually many insurance companies give this kind of discount to the policy holders who drives a lower than average number of miles each year. Please contact your insurance company for more information and to ask whether you qualified or not.
6. Optimize Your Safety Instruments. You also can get a premium discount based on the safety instruments you have in your vehicle such as air bags, anti-lock brakes, automatic seat belts, an approved alarm system, daytime running lights, or an anti-theft device.
7. Teenager’s Discount. Insure your teenager child in the same policy with you. If your child has good grades and pass an approved driver’s education course, this could give you a lower rate. you can even have additional discount if your child goes to college which is at least 100 miles from home and doesn’t bring along a car.
8. Put All Of Your Vehicles In The Same Policy. If you have more than one vehicles it would be a lot cheaper to put them in one insurance policy than if you put them in separate policies. You can also get special price if you buy property or life insurance from the same company. I actually follow this advice when insuring cars for my company Auckland lawyers, and it really proven we got a very low rate.
9. Other Discounts. There are actually a lot of discounts that you can have, for example usually there’s a discount for senior citizens (if you’re older than 50 or 55 and/or retired), discount that’s given for not having accidents or moving violations in three years or if you’re a long time costumer. You must contact your insurance company to confirm this.
10. Think Before Making Extra Payment For Roadside assistance. Roadside assistance like a tow could increase your premium and effect your eligibility for coverage. If you hold a credit card you may already have a roadside plan provided by your credit card, try to check it out with your credit card provider.
