Tips for Making Car Insurance Affordable

Car insurance is meant to protect you financially while behind the wheels. However, it can eat deep in your pocket if you don’t understand the secrets to cut down costs. “Car insurance fees are based on many factors and of course, there are various issuers who are offering different pricing. Different states also charge different fees for car insurance and your age, type of coverage, driving history, car type is all big players influencing the amount you end up paying for insurance,” Emma Rita Kimonides, founder and director of Yes Insurance and Yes Finance Group says. The good news is there are ways you can still go about car insurance without breaking the bank. Hence, Emma Rita Kimonides shares expert tips on how to make car insurance more affordable. Keep reading!

Shop around

Before settling for any insurance company, shop around for the best competitive prices. Different companies offer different prices and there is a high chance you will meet one who will fulfill your needs at the lowest price possible. And while some offer services through agents, others sell directly to consumers. Therefore, get quotes from different companies and compare their quotes to access their value against pricing. For this, you can search through the internet for insurance companies or ask friends and families for recommendations. 

Be cautious of your road behavior

Staying safe while on the road is probably the easiest way to cut down significant costs on your insurance policy. A person without insurance claims gets a no-claim bonus that leads to a huge reduction in pricing. “The more cautious you are, the less accident and the fewer events that can raise your insurance policy. Therefore, while behind those wheels, cut down all distractions stay focused, and drive safe. Your insurance policy will thank you” Emma Kimonides advises.

Cut down on excesses

If you make car insurance affordable then there is no point paying for extras you might probably not need. This can be road-side vehicle repair and maintenance to car rental coverage. That is why you need to be aware of any excesses before making any financial commitment. Check out the policies thoroughly and cut down any extras you can do without. 

Safer car storage means cheaper insurance pricing

The location of your home and where the vehicle will be packed also play a role in your insurance policy. There will be questions about where you intend to park the car overnight. Whether it’s by the roadside, garage, or driveway, your packing option will determine the charges. And of course, if you are in for garage, then you are in for cheaper policy as it is considered the safest car storage. While at it, it is important to stay truthful in regards to your option so as not to render the policy invalidated in case any claims arise. 

Take advantage of a multi-car discount

If you have more than a car, how about opting for a multi-car insurance policy instead of a single one? There is a high chance you will barge a huge discount with multiple cars and there are insurance companies that will be ready to offer discounts in as much as they don’t want to lose such customers to competitors. Emma Kimonides explains that for multiple cars or drivers, you must be related by blood and live in the same residence. “This could be a perfect option for couples as well and they wouldn’t have to pay exorbitant prices for a single-vehicle. However, this is not to say that people who aren’t related can’t avail of these benefits. Only that it might be required that the vehicle be jointly owned by the participants,” Emma Rita Kimonides adds. 

Know the type of vehicle to purchase

Before you go ahead to satisfy your thirst for high-class exotic cars, understand that high class comes with higher insurance rates. Besides, if you are looking to buy a car that uses renewable energy or hybrid, there are insurance companies offering discounts for this type. Ask around for the rates of different vehicles before making any decisions.