Consider these practical tips on how to lower your monthly car insurance, courtesy of The Solomon Law Group.
The state of South Carolina requires every driver to have liability car insurance to cover damages, losses and injuries to another party when at-fault in an accident. However, many drivers also opt to get full coverage. Either way, when you get your auto insurance rate from an insurance company—no matter which one—a formula will be used to determine that your monthly payments will be. This is dependent upon a number of different factors, including: how often you drive, what kind of car you drive, if you have recently been in an accident or received a speeding ticket, even your age and where you live. That may feel a little unfair, but there are some practical ways to ensure that your car insurance is as low as possible.
1. Reverse Shop For Your Car With Insurance In Mind
What you drive matters to the insurance companies. High-profile sports cars are much more expensive to repair, and more likely to be stolen, which makes them a bigger risk for insurance companies to insure. The make and year of your car will also be taken into account, assessing for the quality and lifetime of the vehicle. By calling ahead and getting a quote for the cars you are considering, you can dramatically lower your insurance bill. Already have a new Mustang in the driveway? Not to worry, our next three tips can still help.
2. Get A Higher Deductible
A deductible is the amount that you will be expected to pay out of pocket before your insurance company will cover the rest of the bill. When comparing rates or making an insurance decision, it can be alluring to go for the lowest possible deductible, but that is to think in the short-term instead of the long-term. Here’s a brief explanation: Insurance companies typically lower premiums when drivers assume more of the financial risk by being willing to pay more of the cost for repairs themselves (that’s the deductible). If you are not prone to accidents, this can be a great way to save money on your car insurance. Since you will be charged less each month, you will have more to keep for yourself or place aside in the event that you are in an accident.
3. Ask For Discounts
The insurance companies probably won’t be looking to cut you a deal, but that doesn’t mean you can’t get one. There are all kinds of discounts that you may be eligible for when it comes to auto insurance. Insurance providers often provide discounts for active or retired military, teachers, first responders and medical professionals. Senior citizens. Students will a certain grade point average. All of these could be possible discounts that you are eligible for. Insurance companies often provide multiple types of insurance (e.g. health, life, home) and bundling these could result in a discount.
4. Mind Your Driving
Insurance companies typically offer lower premiums to drivers who drive less. The logic is fairly simple: the less you drive, the less likely you are to be in an auto accident. When you get your quote, have a good idea of how many miles you typically drive, how often you drive out of state and how long your commute to work is. By knowing your numbers, you should be able to get a lower monthly rate.
If you have been in an auto accident in Columbia or the surrounding areas and find yourself at odds with your insurance company, or the insurance company of another driver, trust the auto accident lawyers at The Solomon Law Group to help expedite your claim and get you the fair results that you deserve.