Getting your vehicle insured is a matter that may, sometimes, be quite troublesome for some vehicle owners. This mainly happens due to the complexity that goes with car insurance, in general. There are various factors that may affect the way an insurance policy is rated. In this article, we will go through some of the most important ones; and we will also give you some hints on what you can do to try and lower your car insurance rates.
5 strategies to lower your car insurance rates
1. Speak with different insurers, get multiple options
While on the lookout for new car insurance, try to speak with different companies. Or, have your insurance agent do it for you. That way, you will establish a baseline and be able to know if a company is too expensive. Moreover, it’s very likely that you will get offers for different insurance packages, which is a happy side effect. You might come across a package that suits your needs best; one you didn’t think of, in advance. It’s a great way to lower your car insurance rates.
2. See if you’re eligible for a discount
Lots of companies are offering discounts, based on your situation. For example, they might be offering discounts for:
- students
- people who have a mortgage or a loan on their home
- users with a good driving history
Make sure you ask if there are any discounts you’re eligible for, and discuss the possibility of getting one. Another thing that might get you a discount and lower your car insurance rates is if you have some sort of safe — or defensive — driving certification.
There is a large variety of courses available, even online, but make sure that you talk with your insurance agent first, to check if you can get the discount by attending such courses; and, of course, what kinds of certificates they will acknowledge.
3. Choose wisely when buying a new car
When it’s time for you to buy a new vehicle, check for the insurance rates for each vehicle you consider purchasing. The type of the vehicle is important here, as well as its price range. Also, it’s important that the vehicle you will buy has a good and reliable safety system. This may lower your car insurance costs even more. You may prefer a reliable vehicle that you can maintain affordably; one that you can find spare parts for easily and cost effectively.
Of course, the type of vehicle you’ll go for depends on your needs. But, in any case, check the insurance costs first, so you don’t get a surprise after you make the purchase.
4. Less mileage can lower your car insurance rates
Many companies offer the ‘pay as you drive’ insurance concept; which is based on your mileage. The rates for miles driven may vary, depending on the company, but, in general, if you don’t drive so much, the ‘pay as you drive’ is the insurance program you should opt for.
We won’t get into too much detail on that here, but you can check out our article here, that explains this way of insurance rating in greater detail.
5. Consider getting a vehicle management system
A vehicle management system can help you on many different levels. And one of them is your insurance. Veturilo, our vehicle management solution, besides keeping track of your vehicles can help you calculate your mileage, submit it to your insurance company for your exact mileage — or the IRS for deductible expenses. This will not only help lower your car insurance rates, but your taxes, as well.
More specifically, you can automatically create an Excel file — a report, if you will — for each of your vehicles, containing their respective mileage. You can also choose between personal and business categorization, when flagging a trip, if you need that type of categorization.
Moreover, using Veturilo, you can get a very good idea of how your vehicle is driven. That is to say, you can receive notifications with information that includes fast accelerations, hard braking and sharp turns.
And, let’s not forget, many companies will offer a discount if you have an anti-theft device installed in your vehicle. So, Veturilo can act as such a device as it notifies you when the engine is turned on and off if, if your vehicle has been towed while the engine is off or even if the device is removed from the vehicle. Chances are, with merely a towed vehicle notification and a last known position available to you, you probably qualify for it.
Do it with Veturilo
Think a solution like ours could help you lower your car insurance rates and optimize your fleet operations in general? Why not check out our demo version? Just register for free and experience it first hand! Veturilo is sure to help optimize your fleet safety and maintenance and improve overall fleet performance for you!