How Can I Lower My Car Insurance Rates?

While young people will often have the highest car insurance rates, that’s not to say that every adult believes they’re paying a fair price. There are a number of things that adults can do to lower their car insurance rates, but many don’t realize that the price they’re paying is at all negotiable. Car insurance policies are priced with risk in mind, and lowering your risk, proving your safety, and putting thought into your vehicle all come into play with what a fair price may be according to your policy provider. Having a safe driving record is the biggest factor in pricing your car insurance policy, but the pricing process doesn’t simply stop there.

Learning the tips and tricks to lowering your car insurance premiums can save you a great deal over time. While a couple of dollars here and there may seem insignificant, factor in those savings each month throughout the course of the year and you’re looking at a much more significant number.

Tricks For Lowering Your Car Insurance Payments

There are a number of tricks that can be used to lower your car insurance payments, and you can invest your time and efforts into as many as you like to continue making your monthly costs more affordable. Some of these tricks are:

• Factor in your insurance when you purchase a car – While you may have always wanted that sports car, you should be prepared that your insurance will reflect the power and speed of your vehicle choice. Insurance prices will be based on the price of the car, what it might cost to repair the car, and how safe the car is. A higher priced imported sports car is going to come along with higher insurance costs than a modest, safe, and domestically made vehicle.

• Consider changing your deductible – If you’re looking for lower premiums, you’ll want to instead seek out a higher deductible. If you’re looking for a lower deductible, expect to pay higher insurance premiums. If you have always been a safe driver and you’ve never been in an accident, or it’s been many years since you’ve been in an accident, opting for a higher deductible in order to lower monthly premiums may be your most financially sound decision.

• Maintain your credit – Your creditworthiness is another factor that your insurance provider will consider when pricing out your monthly payments. According to research, those who can better manage their credit tend to have fewer accidents and fewer claims, and insurance companies use this in their pricing process.

Helping You To Insure Your Vehicle

Whether you’re insuring that high-end sports car or you need a policy for a pre-owned and safe family vehicle, our professionals are here to help you with whatever you may need. Keeping you on the road safely and with complete coverage is something we take pride in.

Contact us

To learn more about lowering your insurance rates or obtaining insurance for yourself or a loved one, contact us at Panorama today. Call: 818-781-6630.