How to Lower Your Insurance Premium

Lowering your Insurance Premium
The cost of owning a vehicle can become quite expensive when you start to include necessities such as gas, maintenance and insurance. Fortunately, your insurance premium is something you can lower yourself if you haven’t done so already. Read ahead for some helpful tips.
Driving Safely
One of the simplest ways to lower your premium is to drive safely. Unfortunately, the insurance company won’t know whether you’re a safe driver unless you have the records to prove it. If you’re a new driver, it may be a while before you see any major change in your premium based on your accident history, so it may be a better idea to check out some of the other advice below.
Switch Policies
If you’re confident in your ability to avoid an accident, it may be a smart idea to switch the way that your policy is set up. You can decrease your premium if you also agree to raise your deductible. Obviously, this means you will be paying more in the event of an accident, but if you’re extremely safe you will be paying less in monthly costs.
However, you should always make sure that you can actually afford the higher cost in the event of a collision. You could be in big trouble otherwise.
Group Discounts
There are plenty of group deals available to you if you do some research. Organizations such CAA will offer you a discount if you’re a member and you may even get a cumulative deduction if you’re part of multiple groups. You should also find out if you’re work offers a reduction, as many large organizations do.
On a related note, bundling can also decrease your premium. Purchasing multiple policies (life, auto and home) from the same company should be able to net you some sort of discount, since they are getting all of your business.
Shop Around
Assuming you have a good driving record, you can shop around to find a better deal. Insurance companies are always looking for safe drivers, so if you can prove this, they will be willing to offer you a good premium to entice you to sign up with them.
Change Your Daily Commute
Insurance companies are well aware that the more you drive, the greater the odds are that you’ll be in an accident. Therefore, you should consider an alternative mode of transportation if you drive to work. Try taking public transit instead. The lower premium is nice and you can also safe on gas, while making your overall commute much less stressful.
Carefully Choose Your Next Vehicle                      
The type of vehicle you own can greatly affect your insurance premium. Typically, look for vehicles that have a) high safety ratings and b) low theft loss. In all honesty, these are both factors you should be looking at anyway, so the lower premium can actually be considered a bonus.
However, that doesn’t mean finding the most expensive car possible. The pricier it is, the more the insurance company will have to spend in the event of an accident, so your policy will actually be higher. The ideal purchase is a safe car that is also affordable.