How Can I Lower My Monthly Car Insurance Premium?

By Mike Anderson Posted in Car Insurance News

Uncontrollable Factors

There are many different factors that go into determining your car insurance premium. Understanding these factors will assist you in lowering your monthly premiums. There are static factors, or uncontrollable factors, such as your age, sex and where you live. You don’t have much control over these static factors. The younger you are the higher your premium and men tend to pay more for car insurance than women. Where you live is also affects your premium rate. If you live in Alaska, for instance, you will pay more for car insurance because the state requires more liability insurance than any other state. Alternately, if you live in Florida you could pay much less than the national average because Florida has very low state requirements for liability insurance.

Controllable Factors

There are far more factors that can be controlled when it comes to your insurance premium. What kind of car you drive makes a big difference. If you drive an automatic four-door sedan with many safety features, then your premium would be much lower than if you drove a manual sports car. Another controllable factor is your credit score. While this might seem like an uncontrollable monster, you do have control over your credit score. However, the benefits of lowering your score won’t be immediately available to you. Maintaining a good driving record, one free of accidents and violations, is a simple way to lower your car insurance premium.

Shopping Around

Sometimes the remedy for a high car insurance premium is simply shopping around for a different insurance carrier or even reducing the extras on your current policy. We’ve all seen the competing car insurance companies that promise to save us more money than the other guy. This is actually a great way to lower your premium. When your policy is about to expire or if you a planning on buying a new car, spend some time shopping out different companies. You might find that the “discount” insurance companies don’t have the lowest premium for you. If you use a meta search site like this Web site, finding multiple quotes should be simple.

Related posts:

  1. What Factors Affect My Car Insurance Policy Or Premium Rate?
  2. How Do Car Insurance Companies Determine Insurance Rates?
  3. Will Getting Car Insurance Quotes Online Ruin My Credit?
  4. What Is The Cost To Insure A Car?
  5. Will My Credit Score Be Used In An Auto Or Car Insurance Quote?

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