Premium payment rates on car insurance policies have been steadily increasing, and do not show any sign of slowing down. While this may be the case, the good news about this is that you can actually do something about it right now! Here are just four simple ways on how you can actually save money on your car insurance policy.
Go for a Higher Deductible Amount
One way on how you can save money on your car insurance policy premium payments is to file a request with your car insurance company to increase the amount of deductibles you are required to pay. This is the amount that you need to shoulder prior to filing a claim or request for a reimbursement for repairs with your car insurance company. The higher your insurance deductibles are, the higher the discount you will be awarded by the insurance companies. Many car owners who have tried this have actually received as much as 40 percent discount on their premium payments.
Sign Up and Get Affiliated
Another way on how you can easily save money on your car insurance premium payments is to check with your insurance company on the organizations and association they are affiliated with. Most car insurance companies provide a discount to registered members of organizations such as the AAA and Mensa, which are not generally offered to the general public. As such, it is considered to be a great investment to sign up as a registered member for any of these organizations and associations.
Don’t Procrastinate on Your Policy Renewal
Always make it a point that your insurance policy has been renewed well before the day it is scheduled to lapse. Insurance companies favor policy owners that are responsible enough to renew your insurance policy well ahead in advance, awarding them with as much as 12 percent off from their existing premium payment. The same holds true if you are considering to transfer insurance companies to cover your motor vehicle. Insurance companies are more than happy to accommodate you, providing you with huge discount rates on your premium payments. The important thing is never to allow your insurance policy to lapse even for a day. This can eventually lead to the insurance company increasing your premium payments the next time that you will have to renew your car insurance policy.
Combine Insurance Policies
Ask your insurance company if they offer combination insurance packages such as multi-car policies and home and car insurance policies. By availing of these, you are able to save a lot of money on premium payments since you just need to pay for one insurance policy to keep your assets fully protected.