9 Helpful Tips to Cut Your Auto Insurance Premiums

1.Shop around for auto insurance companies

Each company often offers different prices and policies. Therefore, before deciding to buy insurance, you need to carefully consult information about insurance costs of many different companies before making a decision.

Compare, consider and choose an auto insurance provider with suitable prices and reasonable policies for your car.

2. Calculate insurance costs before buying a car

Usually, car insurance is paid immediately after you buy the car. Factors that affect the insurance premium such as the year of purchase, the structure of the car, the type of car, the price of the car, etc. You should find out to have appropriate adjustments. Choosing a car that suits your needs and helps you reduce the cost of buying insurance is really useful.

Before deciding to buy a car, call the insurance company to find out how much it will cost you to insure it, then decide whether or not to buy the car.

3. Choose a high deductible

The deductible is the amount you have to pay yourself if the damage is less than the deductible. Therefore, if the deductible is high, the auto insurance premium will also be high and vice versa.

If you drive carefully and safely, you can choose a high deductible when buying auto insurance. However, you need to distinguish between the concepts of deductible and non-deductible.

In addition, insurance companies often have discount policies for those who participate in insurance the following year with a loss rate at a low allowable level.

4. Increase deductions

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A useful tip for you if you want to reduce the cost of insurance is to give up some small deductibles. The reduced cost of buying insurance you can completely use to do related paperwork quickly and easily.

5. Participate in combined or group insurance

If you are an individual customer, our advice to you is to buy health insurance and car insurance from the same reputable insurance company, customers may receive a certain discount.

If your friends or colleagues all want to buy insurance, you should gather together to buy as a group because that way you will enjoy lower fees and more preferential conditions. In addition, if you participate long-term, with a term of more than 1 year, you will also enjoy a higher discount.

6. Don't buy comprehensive insurance for used cars.

Depending on the type of car you choose, choose the appropriate insurance policy. Sometimes buying comprehensive insurance, collision insurance for a used car is more expensive than the value of the car itself. A good tip is to calculate the damage in an accident, take that number and multiply it by 10 and compare. If the value of the car is less than the amount you get back, then do not buy insurance.

7. Pay attention to your credit score

There are many insurance companies that rely on the customer's credit score to calculate insurance interest. This becomes an important factor affecting the determination of car insurance costs. Therefore, to reduce insurance costs, try to accumulate a high credit score and create trust with the insurance company.

8. Find out about discounts

There are many policies that insurance companies offer to attract customers, of which discounts for specific cases are the most common. Discounts on insurance costs are available for many subjects such as using cars with high safety features, discounts for the elderly, students who are old enough to drive, etc. and many others.

Refer and learn carefully about the cases of fee reduction to have the most suitable adjustment and choice for yourself.

9. Think carefully when choosing to buy on installments

If you buy a car through installments, think carefully because most insurance companies have additional management fees for this form. If you do not want to increase the cost of insurance, calculate and consider carefully to ensure you can afford it.