So, you finally got your own car. In case you don’t know it yet, it is a legal requirement for you to get car insurance — whether on your own or with the help of an auto insurance broker.
This type of insurance is designed to give your financial protection should your prized vehicle get damaged. It can also cover expenses when treating injuries you (or your passengers and pedestrians) acquire should your car be involved in a road accident.
There are several car insurance policies to fit different budget ranges and cater to different needs. If you want to save on money in your auto insurance, here we’ve compiled 11 smart tips to help you out.
Choose a credible insurer. Do your own part and allot time researching and comparing car insurance policies from different insurance companies. Take note that cheap doesn’t mean good — be meticulous in reviewing the coverage stipulated in your desired policy.
Be a safe driver. If you are mindful of your driving, there’s a high chance that you can get premium discounts. Safe drivers are trustworthy in the eyes of insurers, unlike drivers who have records of driving law disobedience and reckless attitude on the road.
Get a defensive driving certification. When you enroll in and complete an accredited course on defensive driving or accident prevention, your insurance company may offer to lower your premium.
Install anti-theft devices. Insurers also offer discounts for drivers who have invested in anti-theft devices for their cars. Protecting your car against thieves is a great indicator of being a responsible driver.
Improve your credit rating. If you ask an auto insurance broker for a way to lower your premium, one of the most common answers you’d get is to boost your credit rating. Many insurers rely on credit-based scores when determining the amount of premium a client has to pay.
Apply for insurance for multiple vehicles or drivers. You can avail discounts if you are to get insurance for several cars (if you own more than one) or if you apply for several drivers. Take note that discounts apply only when drivers live in the same residence.
Be a multi-policy holder. If you’re living alone or only have one car, you can still get a discount if you will avail other types of insurance policy (e.g. Life insurance, home insurance) from the same company
Remove coverage you won’t need. Some policies include coverage that you might not actually need — for instance, roadside assistance or car rental coverage. If you request to have such coverages removed, you can end up getting a lower price for your premium.
Report reduced mileage. You are also likely to receive a lower premium price if you report that you have a lower mileage compared to the previous year.
Review your rate annually. By doing an annual check, you can examine and find out if you’d actually be better off switching insurers than sticking to your current one.
Get help from an auto insurance broker. There’s a multitude of car insurance policies available in the market. If you’re unsure what to get, it’s best to seek assistance from experts in the field. Car insurance brokers don’t only have a huge network, they also have beneficial negotiation skills.
Insurance Brokers of Maryland is the top auto insurance broker who can help you find the best deals in the market. Contact us for more information.