Can I Reduce My Auto Insurance Rate? If So, How?

The simple answer to this question is, yes. The “how” part of this question is more complex and detailed, but the best news about that is that YOU are more in control of your auto insurance rates than you think. And now is a very good time to start reconsidering tweaking your auto insurance policy in order to get the best rates. The good thing about the insurance game right now is that it is in fact, a game. And as more and more insurance companies offer auto insurance options, they know that price and budget are leading factors for Americans today, so they WILL compete to earn your business and give you the lowest rates they can. Here’s how you can take control of your own policy to lower your rates.

There are a number of factors that go into the quote or rates you get with your auto insurance. Some of these factors you can control, while others you can’t. Especially if there are factors from your past such as delinquent insurance payments or a spotty driving record. While these factors will affect your quote, you can improve performance in other areas to still lower your rates. The best thing about auto insurance is that almost every issue that will negatively impact your rates is forgiveable or can be eliminated with time.

Driving and insurance records are significant factors in your insurance rates. The more tickets or claims you have made in the past, the more your rates will go up. However, the kind of car you drive and the kind of policy you get will determine your rates as well. If you drive an older car, or a smaller car or car with a small engine, this will help you reduce your auto insurance rates.

As well, you may be required to have certain elements on your policy such as comprehensive and collision insurance. These are good to have on any auto insurance policy, but they will cost you more. To alleviate those costs, you can add a deductible to your policy for each of these coverages, and this will minimize the risk to the insurance company, and you should see a reflection on your rates as a result.

In addition, adding features to your vehicle that will enhance its safety and minimize theft or vandalism will reduce your auto insurance rates as well, particularly if you live in a high crime area. Living in a low crime area will also reduce your rates, as the threat to crime or damage to your vehicle will be lowered.

At the end of the day, the best news about auto insurance rates is that they are not fixed in stone, and you control more of your policy than you think. Before you sign any dotted line, take advantage of the fact that the insurance game IS a game. Comparing quotes from multiple providers that are willing to compete with each other to earn your business will always be a significant way to improve the bottom line on your auto insurance rates.