Keeping Your Premiums Low

After you find the best auto insurance quotes, you'll then need to work on keeping your premiums low in the long term. Follow these simple tips to keep your premiums to a minimum.

1. If you can, make a lump-sump payment on your premium. Most insurers offer you two payment options: you can pay your premium in full every year or every six months or you can choose the monthly payment plan. You almost always get the best auto insurance rates and lower premiums if you opt for the lump-sum payment plan. If you can afford to do so, pay your premium all at once.
2. Don't let drivers that are not on your policy drive your car. For the most part, insurance policies follow vehicles, not drivers. That means that if you allow someone else to drive your car and he/she has an accident, you will likely be responsible for the damages. Your rates will go up, and you might also face a liability lawsuit. To make sure you can still get the best auto insurance quotes in the future, avoid this situation.
3. Find out your vehicle's rating. Every vehicle has a rating that insurers consult when determining your premiums. This rating usually depends on the vehicle's price and safety equipment. The cars with the best ratings will get the best auto insurance quotes.
4. Be careful about switching insurance carriers. Switching insurance carriers can be a tricky business if you do not know what to do. If you plan on switching, notify your present insurance company in writing of your intentions and find out the exact day that your current policy expires. With this information, you can then have your new policy take effect without overlapping with your old policy or take the risk of going without insurance.
5. Consider paying out of pocket in a minor accident. Did you know that the average policyholder's premiums increase 40% after the first at-fault accident? Considering this expense, you might be better off paying out of pocket if you are involved in a minor collision. This will help keep your claims record clean, which will help you stay eligible for the best auto insurance rates down the road.