5 Ways to Minimize Your Auto Insurance Rates

Owning a vehicle can be expensive and one of the most costly expenses is often insurance. When it comes down to it, some people pay one hundred to two hundred dollars a month on auto insurance. It seems like the longer we acquiesce, the longer the insurance companies will keep charging us an arm and a leg. However, there a number of ways to keep your vehicle insurance rates down, so that you don’t have such a big financial burden hanging over your head. You have to remember, though, that the safety of your vehicle can play a big part, so you may want to make a few repairs. Here five ways to minimize your auto insurance rates.

1. Maintain a spotless driving record. A spotless driving record can go a really long way when you are looking to purchase an auto insurance policy. Basically, auto insurance companies charge a premium to individuals that are deemed “too risky.” For instance, people who have points on their license – from either a collision or a DWI – are deemed risky and thus will be either denied a policy, or they have to pay a lot of money to hold one.
2. Purchase a new model car. Also, insurance companies measure risks by how safe your vehicle is. When it comes to older cars, especially vehicles with no seat belts or poor safety features, the insurance will probably be sky high. However, if the vehicle you are applying is newer, has airbags and has had an excellent safety rating through rigorous testing, there is a good chance that your insurance policy will be much more affordable. Not only are newer cars safer, but they also break down less than older vehicles.
3. Drive your vehicle for only a few days during the week. If you live within moderate walking distance to your nearest town, there is a good chance that you can forgo driving for a couple of days during the week. Doing this can significantly reduce your reliance on a vehicle and can drastically lower your auto insurance policy. The less you drive, the less of a risk there is – of a collision or breakdown.
4. Add another vehicle to your policy. Did you know that you could use a car title to get cash in Florida? Did you know that you could add two cars to one car insurance policy? When it comes down to it, having a penny-pinching mindset may be all you need to save money on car insurance. If you have a family member that needs a car, perhaps purchasing one is a good investment, because you could leverage the vehicle in a number of different ways.
5. Protect your vehicle from theft. Again, risk is a big factor when your insurance company devises a price for your policy. If your vehicle is easier to steal, there will be a higher premium on your insurance. However, if you simply add a car alarm, it could lower the theft risk factor and it will lower your insurance rates.