Getting the best possible rates on insurance premiums is the goal of every car owner. For that reason, it is extremely important to keep abreast of the factors used to determine what you pay. There are obvious contributors to cost, but some may not be as evident.
Consider the following possible ways to reduce auto insurance costs:
1. Add a second insured to the policy ? Drivers under age 25 are seen as extreme risks by insurance companies because they have the most accidents. If you are a parent of a young driver, adding yourself to the policy may lower premiums, especially if you have a good driving record. While this is not always true, it may be worth taking the time to get a quote.
It is completely legitimate to add yourself to a policy even if you don?t drive a vehicle that often; however, you cannot place yourself as the primary driver. To do so will put you at risk of having your policy cancelled. Law enforcement and insurance companies view this tactic as fronting and fraud.
2. Park your vehicle in a safe place when it is not in use ? Both accidental damage and theft inflates insurance premiums substantially. A vehicle that is parked in a homeowner?s driveway or garage is less likely to be the object of vandalism or theft or of being struck by passing vehicles. If your car is not as likely to be stolen or hit by another vehicle while parked, it can amount to savings of up to 7%.
3. Decrease the use of your vehicle ? All policies are based partially on how many miles you drive annually. Lying about how much you drive is not the proper approach, but taking alternative forms of transportation whenever possible will lower the mileage and your operating costs. If you drive your vehicle for business, be sure to declare that because failure to do so can result in the policy being voided.
4. Keep your vehicle in factory condition ? Specialty designs and changes to the manufacturer?s installed packages can increase premium rates. This does not apply to safety or security changes you make, which can save on your insurance costs.
All these factors are not taken into account by every insurance provider, so be sure to ask when getting a quote.
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Related posts:
- How to Secure Low Auto Insurance Premium Rates
- Great Tips to Help You Reduce Your Risk to Auto Insurance Companies
- Great Ways for Drivers to Cut Car Insurance Costs
- Great Ways Drivers Can Help to Prevent Insurance Premium Rate Increases
- Crucial Tips to Consider When Buying Car Insurance in Today?s Economy
Source: http://www.cheapcarinsurance.net/4-tips-for-reducing-auto-insurance-premium-costs/
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