With the economy in recession, bills are sure to pile up and the banks will be giving you a hard time before releasing a loan. What are the odds for you? How can you save more in times such as this? Well you can cut out on food delivery to start with, maybe forget that Prada Bag of your dreams and settle for an “I-am-not-a-plastic-bag” Bag instead. But if after you have done your part in cutting off your leisure budget and still find yourself a bit lacking in funds, its time you to reevaluate staple bills like your car insurance, Are you sure you are paying your worth?
Car insurance companies will present to you all of their services and will make you feel you need them all. And with you overwhelmed with the so called benefits, chances are, you availing of services which really are unnecessary. An example of which is a 10 year contract with only one car insurance company, which may seem advantageous because you can get big discounts. This is not always true when it comes to insurances. Because of competition, premiums or quotes in the market tend to have a more comparable rate giving clients more options. So once you are bonded to a 10 year contract, you might not be able to avail of this.
What are then the factors to lower your premium or quote? Your age appears to be the more obvious one. If your age bracket is 25-40, you have a big chance of getting a big chunk off your car insurance quote because survey says that this age group is less prone to accidents and drunk driving. If you are over 50 with a good driving history, you can also get a big discount by availing of a senior discount.
The next thing to consider is you the location of your registered address. There are places which are considered high risk to car insurance companies. These are the places where crime rate and theft are on a high level leaving you and your car prone to “accidents.” Take note of the number of cars on your streets. This also poses to be a factor on your premium because with lesser car on the road, there will be lesser accidents.
Some factors like owning a second hand car or cars of low profile will give you benefits when car insurance companies are already calculating your premiums. A second hand car will not be a worry to insurers because in case of accidents, it will just cost them a little; the same goes to low profile cars.
Surely, there are still a lot of ways to improve your record and lower your premium rate. If you really are in need of saving a little something from your monthly budget, study your car insurance. Work with an agent if you have to or even change car insurance company if you need to. Never settle for a quote they think is worthy of you. Go online and compare insurance quotes and be informed-fast!