Are you an under-25 driver looking for ways to bring down your auto insurance rates. Then you’ll do well to take the following into serious consideration as they would make a big difference…
1. You can opt to be on your parents’ car insurance policy. Howbeit, to make this work you must live with your parents and have the car registered in their name. If prefer your “freedom” so bad then you’ll have to pay higher rates.
2. If you opt to pay your premiums monthly, you’ll attract more expensive rates. Yes, monthly payments might be stressless but it is also costly.
There are transaction fees that are incurred when processing a check. For twelve checks (that is, your monthly payments) you will have a sum of 12 transactions. This implies that transaction charges would be twelve times more for those who make monthly payments.
There are also administrative costs to your insurance provider that result just from taking monthly payments. A clear example of such is the expense associated with mailing payment notices. These and more are then added to your premium thus making it higher than if you paid annually.
3. It’s wise to be serious with your studies as it attracts cheaper vehicle insurance rates. The belief is that that students who are serious with their studies are typically less reckless.
4. Increasing your deductible will reduce your rate. A deductible is the amount you’ve elected to pay first before your insurance carrier fulfills the terms of your policy. Yes, select a very high deductible but be certain that it is not more than you can readily provide.
5. Get and compare auto insurance quotes from five or more reputable quotes sites. This alone could shave off a few thousand dollars from your insurance cost if you do it right.