Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.
One of expenses you will need to pay each month or annually is auto insurance if you have a vehicle. This will protect you in the event of an accident and may reduce the chances of any financial losses. However, auto insurance can be costly and you will want to find effective ways to keep your expenses down. By knowing simple ways you can work to reduce your auto insurance premiums, this can be helpful for you.
Start a carpool
Did you know that insurance companies charge you more the more you drive? This means driving less could add to discounts for you.
However, being able to change jobs isn't that simple. You could start a carpool with your neighbors and this can result in driving less and saving money on insurance and gasoline.
Increase your deductible
Insurance companies will lower your insurance costs when you increase your deductible. This will mean lower amount for the insurer to pay for a claim because you will be responsible for paying this amount first.
You will want to have this money on hand just in case you're involved in an accident.
Avoid buying a new car
You can significantly reduce the amount of money you pay to stay insured by driving an older car. This will prevent you from having to get comprehensive insurance and this is typically required for new vehicles. If you have a lien on your car most lenders will require you to carry comprehensive coverage.
On the other hand, if you have an older car, you will likely pay less for insurance. This is because the retail value is much less and if you're in a wreck the car will be won't cost as much to fix or replace.
Ask for discounts
There are many discounts that your insurance provider may offer that you aren't aware of at the time. Some of these include senior discounts, multiple car discounts or being insured with a company for many years.
It's in your best interest to always ask questions to help you get the lowest possible rate.
The benefits of keeping your insurance policy active and working to reduce the costs of it are many. This will insure you save money on a routine basis and have the peace of mind that accompanies being insured. Take the time to speak to your auto insurance agent (like those at Gateway Insurance) about additional options for trimming insurance costs.
Share14 July 2016
