The good news is there are a handful of things that many drivers and families can do to reduce their insurance rates and put a little more of their hard earned money back in their pocket. Below are some of the best ways to get that premium lowered.
Raise Your Deductible
Probably one of the simplest ways to shave some dollars off your premium immediately is to increase your deductible. The typical policy has a $500 deductible, which means the insurance company only pays for damage above $500. The truth is that insurance is designed to prevent a financial hardship caused by an accident, not put paint back on a bumper when it is scratched. Insurance companies will gladly provide that service to you, but it will come at a cost. You can bet that insurance companies know exactly what to charge for lower deductibles to ensure they come out ahead.
Many people grew up having an insurance agent that they could call directly, but be warned that this comes with a cost. The ability to go sit in your agent’s office is great if you use it, but you are definitely paying for it in higher premiums. Companies like Progressive and Geico offer insurance products directly to the customer and saves on the middleman. The downside to shopping online is if you are not very familiar with insurance or have a very complicated estate that needs to be covered. If you are just looking to ensure some cars and maybe a house, the online companies often provide 800 numbers you can call with questions.
This one almost goes without saying, but one of the biggest factors in your cost for insurance is your driving record. Drivers with excessive tickets or accidents will pay more for coverage because they pose a higher risk to the insurance company. Additionally, families with teen drivers will pay much higher costs because statistically teens get in more accidents. If you find yourself broke after paying your high risk car insurance, slow down.
Eric Stauffer is a licensed insurance agent and a payment solutions consultant. His firm reviews companies like LevelUp and help business owners find honest companies to work with.
Car Insurance Seattle: Visit us at 1200 Westlake Avenue North 1006 Seattle for Car Insurance in Seattle. We are Seattle Auto Insurance Company.