You Can’t Avoid Paying for Car Insurance
No one really wants to pay for car insurance, especially when it increases each and every year. Car insurance is a necessary evil that we must endure because it’s the law. Ultimately, it’s for your own good, and if you’ve ever had to make a claim you’re probably glad you had insurance. Until the next bill arrived.
How to Control Car Insurance Costs
There many factors that insurance companies take into account when setting insurance rates, most of which you have no control over however there are a few things you can do to help keep the costs of paying for car insurance from getting out of control.
Mind Your Speed
The best way to control car insurance costs is to keep a clean driving record. Driving infractions and accidents are sure to increase your premiums as the insurance company assesses the level of risk in insuring you. So drive carefully, don’t make a habit of speeding or engaging in risky driving behavior like aggressive driving, running amber lights, etc.
Use Your Driving Habits To Your Advantage
More and more insurance companies are offering usage-based insurance (UBI) coverage to help you get better rates based on your good record, without actually having to wait years to have your record proven. UBI uses data from your car, collected by a device installed in the vehicle, the onboard computer, or by a mobile app. Data such as where and when you drive can make a big difference if it shows that you are a low-risk driver. For example, if you start working from one or more days each week, it means that you’ll spend less time in rush hour traffic, reducing your risk of being involved in an accident. UBI can be particularly beneficial to people who own a car but don’t drive it frequently, or very far.
Get All the Discounts
Insurance companies offer many types of discounts to try to get your business. The most common are the ones that you can get for bundling your car insurance with other types of insurance such as home and life insurance. But that’s not all. You can usually get discounts based on your age, driving habits, driving record, and the safety features of your vehicle. The discounts aren’t always easy to find and sometimes you don’t know what you don’t know when it comes to asking questions about your policy. However, an insurance broker who has extensive experience with what’s available probably has more insight. Let a broker shop around for you to find the most suitable policy with all of the discounts you’re entitled to. You may just learn to love—or at least live with your car insurance after all.
E&Y Insurance and Tax Agents are dedicated to helping you get the right auto insurance policy for you. We provide expert advice to ensure you get the coverage you need for your home, vehicle, and business. We also provide tax preparation services and advice on tax planning to meet the needs of individuals, families, and businesses in Troy, Birmingham, Rochester, Rochester Hills, and Royal Oak, Michigan. Contact us using the form below or call us at 248-817-8071.
