A car is a luxury of life which has slowly become a necessity these days.
Driving a car is exciting, but it also comes with a solemn responsibility to protect yourself, your loved ones and the vehicle from potential damages associated with the accidents and all that is possible only with car insurance.
Every car owner is required to own car insurance, but the insurances are expensive and remain unaffordable for many people.
Here are a few tips on how you can save premiums and get the most out of your car insurance.
Refrain from monthly paid premiums
You will find most of the auto insurance policies to provide you coverage for 6 or 12 months.
While purchasing the policy, you have the option either to pay the full amount or monthly over the period of policy coverage.
Insurance companies usually encourage monthly payments because it breaks down a significant premium into small monthly premiums.
We advise you to pay the upfront money and refrain from monthly payments as you will have to pay additional dollars each month in the form of interest.
According to Daily Mail estimate, you may end up paying an extra $100 each year.
Bundle your plans with an older and safer driver
If you intend to save money on your insurance plan than bundle it with someone else, insurance companies formulate their policies on the basis of risk.
The riskier driver you are, the more you will have to pay. But if you group multiple policies, the risk will be reduced, and you will be able to save bucks.
This tip is especially useful for young, risky drivers who can bundle with old, experienced and safer drivers with a good track record to reduce their risk and decrease their premiums.
You can also group your auto insurance policy with your home or motorcycle insurance policies.
Modify your car
Features of your car play an important role in deciding the rates of your auto insurance policy.
Certain features such as the security system, which protects your vehicle against theft, electronic stability control, anti-lock brakes, and airbags all help to reduce the insurance cost.
Best insurance companies of 2020
If you are looking for a car good auto insurance company, then the following are the best companies of the year.
- Progressive: Progressive is rated as one of the best auto insurance companies in the world. It is one of the largest providers in the States and is known for its competitive rates, roadside assistance and much more. You tell your budget to progressive, and the company will build a policy to suit your budget.
- Liberty Mutual: It is also a top rated company in auto insurance. The company has reasonable rates, flexible policies and ensures a number of vehicle types.
- Allstate: Allstate is well known for its extensive network of agents spread across the United States. The company has a good financial rating and offers many discounts like a safe driver discount, prepaid policy discount, etc.
- USAA: USAA is a great option for those who qualify as it is only available for the active and retired members of the U.S military and their families. The company provides competitive insurance rates for standard first and second vehicles.
- Express Lane insurance: If you are looking for a cheap insurance deal, then Express lane insurance is the perfect spot for you. It offers auto insurance as low as $13 per month. The company provides good prices to all drivers including those labeled as high-risk.
If you are interested in getting most out of your car insurance, then follow the tips mentioned above to save you good bucks each year.