Lowering Your Monthly Insurance Premium Payment

There are ways to lower your monthly premium after you have purchased your new car.

Combine auto and home owners insurance
Add car theft devices
No traffic tickets or citations
Raise the deductible
Report changes
Calculate mileage for the year accurately
Buy a car with safety features

Combine Auto And Home Owners Insurance

Many times, you can combine your auto and home owners insurance so that you can pay one monthly bill. Insurance companies may offer you a discount on your policy if you combine plans.

Add Car Theft Devices

Car theft devices include alarms, keyless entry, audio systems that have removable faces, and steering wheel restraints. These devices can be installed or you can buy them for a reasonable price. Adding theft devices to your car will lower your monthly car insurance payments.

No Traffic Tickets or Citations

You can reduce your monthly premium by not getting traffic tickets or citations. If you do receive tickets, you can complete a traffic safety course which will help your premium return to its original monthly rate.

Raise The Deductible

If you raise your deductible, you will lower your monthly payments. You should only do this if you can cover the deductible in case you are in an accident. As your financial situation improves, you will be able to change the deductible.

Report Changes

If you get married, your monthly payment should go down. The same applies if your move to an area that is considered less of a risk. Even if you just move to a place that has covered parking, you should still report it so that your premium will be lowered.

Calculate Your Mileage For The Year Accurately

The closer you can come to your actual annual mileage, the better off you will be. If you do not drive your car often, then your premium will go down because the chances of having an accident will go down.

Buy A Car With Safety Features

If you buy a car that has extra safety features including side air bags, all wheel drive, or electronic steering system, you will receive a discount on your car insurance. You should ask about discounts to see how many you will qualify for. Even if you save ten or fifteen dollars a month, you will save a big chunk of money each year. As your car ages, your insurance costs will be lowered.

These are just a handful of ways you can lower your premium each month.