It's a well-known fact: insurance is more expensive when you’re young. Fortunately, there are some things you can do to help lower your car insurance premium.
1- Maintain a clean driving record
Discounts are granted to car owners who avoid tickets and accidents.
2- Raise your deductible
This will usually lower the premiumAn insurance premium, or premium, is an amount that a person or company must pay on a regular basis to keep their insurance in effect. For example, if Mary has to pay $200 per year to keep her life insurance in effect, then the premium is $200.
The insurance premium should not be confused with the face amount, or insured amount, which is the amount that the insurance company has to pay out. In the same example, if Mary has life insurance that pays $100,000 to Peter upon her death, then the face amount is $100,000. . Be sure, however, that you can afford the deductibleThe deductible is the initial amount for damages that the insurer does not pay.
For example, with a deductible of $500, if you claim a total of $20,000 in damage coverage, your insurer would pay $19,500. if you're ever in an accident!
3- Review your coverage
Go over each type of coverage with your representative to make sure you actually need it.
4- Install an anti-theft device
You could save on the theft portion of your insurance, but you should first make sure the discount is enough to make it worth your while.
5- Shop around for your car
Some models are more expensive to insure because there’s greater a likelihood of something happening to them (theft, for example). Older models are usually less expensive to insure. Before buying a car, find out how much it’ll cost to insure it.
6- Comparaison-shop for your insurance
If you want to get the lowest premium for the types of coverage you need, comparison-shop for insurance. It can save you hundreds of dollars!