GThe average cost of a vehicle insurance in America is over $1592 and expected to increase in the months to come according to the rate analysis of the well known personal finance website, nerdwallet. This is over one-third of the average yearly minimum wage in America and the thought of this is obviously pricking most car owners and those that intend to be called one. This is utterly pitiful as most car owners indulge in unlawful acts just to avoid paying for their vehicle insurance such as bribing officials to record unpayed payment, falsifying of payment proofs just to name a few. But car owners themselves have a hand in this predicament of theirs which includes and not limited to buying way too expensive car(s) for them to manage or maintain, driving recklessly and many more which tends to increase the premiums on their vehicles insured. Some might be asking - How then can I save money on my car? How do I avoid being billed to much for my car? How do I avoid paying more than the average cost of a vehicle insurance? The answers to this questions lay inside this article.
1. Bundling your insurance purchase
What is Bundling? Bundling is simply the act of purchasing two or more services of a company at the same time. In relation to insurance, Bundling is when a person insures two or more of his assets with an insurance company at the same time. You might probably need more than one insurance, then why don't you just just do so in the same company for a discounted rate. One could purchase a car insurance and life assurance at the same time with with no extra cos
This technique has proven to work and still continue to work. When you bundle your vehicle, the insurance company will be forced to give you a discount on your purchase which ranges from 5 - 8% or in some cases a 8 - 12% discount depending on the worth of the vehicle. This hat trick could even be better for drivers with poor credits and make way for paying less for the best. This is arguably a win - win for both the customer and company. Isn't that just a sweet deal anyone would love to try
3. Compare insurance cost before you buy a car
Did you know that the cars with a more expensive worth than normal increases the premium paid for insurance. When a person applies for insurance coverage on his vehicle, the price will be determined by some factors which includes; the probability of accident cases on the vehicle type and model, the vehicle worth, its presence in the market, cost to repair it and many more. Say for example Mr A buys an expensive Convertible and Mr B buys a less expensive Sienna and both of them takes it to the insurance company to purchase an insurance plan, who do you think will have the most expensive bill to pay
So before you intend to buy your next car and wish to pay less, purchase less expensive cars that tend to have low insurance pay
3. Maintain a good credit score
According to a research, drivers with good credit scores tends to pay less for more. When an insurance company notices a driver as a good credit score, they tend to give them a discount and much more benefits along. So try to maintain a good credit score and check it at every intervals to be on the safer side
4. Take advantage of discount
One thing everyone likes is a good discount that benefits their pockets and tend to rush to where it supplemental and in most cases they are very much limited for a particular period of time. That is almost the same as insurance companies'. There are always sweepstakes and discounts to be offered but it's always limited. So keep your eyes peeled for those mouth watering offers and take advantage of them at the slightest opportunity but remember to always reason the satisfaction derived from the purchase and the likely outcome of purchase
5. Compare the cost of other insurance companies
Most mistakes people make when they apply for car insurance is facing the journey head-on and without the help of experts or researches. The vital thing to do when getting started on this kind of thing is to compare key points and factors of other insurance companies and putting them into consideration in terms of the following factors; the price asked to pay when getting started, the reputation of the companies, the opinions others have about the company (did you know that service and product reviews helps more than the entire population to avoid being swindled make mistakes). So once you
There are tons of ways to save money on car insurance but above are the simplest for new car owners. So take note and don't forget to calculate your gain at the end.
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