How To Lower Your Auto Insurance Quotes?

Our guide to lowering the cost of your car insurance, as part of our financial series of articles.


Scoring a lower auto insurance quote is same as shopping for other things. There are multiple factors that affect the quote you get. If you find you are paying a higher premium than you should then try to work on the key elements that are responsible for deciding the rate you pay.

Some factors are beyond your control such as age, previous claims, and gender. These aspects also determine what you will have to pay. regardless of this, some things that are completely in your hand and can be controlled by one easily. Here are certain things that will help you achieve a low auto insurance rate.

Clean Record

The first and the best way to get a low auto insurance cost is by having a clean driving record. If you have an accident-free as well as conviction free record you will undoubtedly get a lower quote. Car insurance companies love to see a consistent clean record as one accident can affect premiums for about six years.

Higher Deductibles

Apart from that, there are various other things such as requesting for higher deductibles that will highly benefit you. Deductibles are that amount you pay before the insurance policy starts. Asking for higher deductibles can lower the rates to about 30%. However, it is recommended that you keep some money aside in case to pay if you have a claim.

Check, Compare and Choose

Before you purchase a car it is best to check the insurance costs. The premium is determined depending on the price of the car, safety record, theft record and the cost to repair it. Most insurance companies will give an additional discount if the car has certain features that reduce the risk of theft and injuries.

Don’t get persuaded by the look of the car as it can get heavy for your pocket later. Check with insurance companies before purchasing the car as to know what would not be heavy on your wallet. In addition to it installing an anti-theft car can also help in lowering insurance quotes. However, be sure the device is approved by your insurer.

Special Discounts

As you start shopping for the best car insurance, be sure to ask if any special discounts are available. It is highly advisable to only get insurance from reputed companies who have had a consistent history and promising future. Do not fall into the trap with low premium rates as it will increase the risk factor. Some of the supporting things that can help you with discounts are like your child’s good school grades. It is odd but some companies do provide these kinds of discounts.

Credit Records

Maintaining a solid credit record can bring down your insurance costs. The majority of insurers make use of your credit history to provide you a competitive quote. According to research people who systematically and timely manage their credit have fewer claims. Some things that you can do to keep your credit record strong is paying bills on time, appropriately use credit and not acquire more than required. It is highly recommended to check one’s credit rating regularly in order to correct any errors.

Low Mileage Discounts

Many insurance carriers provide discounts to those policyholders whose annual mileage is lower. The mileage of you car can help you get a lower insurance quote. The reason can be any i.e you may spend fewer hours in daily drive or you have some transport provided by the company. Whatever the reason low mileage can definitely get you some discounts on your premium.

Many of us think there is only little that we can do to lower the auto insurance quote. However, the reality is different, it is you who bears the power to reduce your premium.

Read how to lower the cost of your car insurance as a teen.