If you are under 30, saving money on car insurance sounds impossible. Premiums are higher for males and females in your age range. Why? Statistics show young drivers tend to have more accidents than the average Joe (or Jane). As a result, insurance companies often charge drivers like you elevated rates to protect themselves against a risk that may not pay off over the long run. Yet, there is hope. With a bit of effort, you can pay less for something all drivers must purchase.
Buy a Souped-Up Clunker
After all, it’s the ride that fits best into your budget. Obtain a reliable vehicle with a great stereo that’s been on the road for years and may only require liability coverage. If you choose to bypass car insurance options such as collision, it may decrease what you pay to an insurer. However, you should make sure the car is equipped with standard safety features to ensure your protection.
Adjust Your Annual Mileage
How much a person drives a year affects what he or she pays for car insurance. When selling auto policies, agents typically quote figures based on an annual driving mileage of 15,000. This generalization isn’t always true of everyone. If a client resides in an urban area, he or she may drive less. Therefore, do your own calculations. Your annual mileage should coincide with your lifestyle, not a preselected number.
Report Vehicle Safety Features
Alert your insurance of all the safety features on your vehicle. Anti-lock brakes, day running lights and some theft-prevention mechanisms merit discounted premiums. Don’t miss out. The financial breaks you obtain, regardless of size, add up over the life of your auto policy.
Car-Share with a Friend
There’s an old saying, ‘two pocketbooks are better than one.’ Splitting the cost of car insurance with another person saves money. Make this type of arrangement with a close friend (or family member). Nine times out of 10, you’re living together or nearby and run in the same social circle. For this reason, disputes about who gets the car will be minimal.
Bike or Bus to Work
Change your vehicle usage from work to pleasure. This act, consequently, significantly lowers premiums on car insurance policies. Also, biking or busing to work supports physical fitness and opens the door for employees to take advantage of commuter perks offered by their company.
Feel inspired to make a few changes? Truthfully, even if you are not under 30, the above tips can save you money on car insurance. They are practical ways to manage how much of your monthly household budget goes towards auto premiums. Employ them and you can funnel additional dollars into your savings account.
Find out how much you can save today. Call Illinois Auto Quote Insurance Agency for more information on auto insurance.