5 Tips for Getting Lower Auto Insurance Rates

Car insurance is a fact of life. There is no way around it, just like death and taxes.

Denver auto insurance tips

While you can’t avoid having auto insurance, that doesn’t mean you have to pay a fortune for good coverage. The price of car insurance is going up, and it doesn’t look like it’s going to slow down anytime soon. So, what can you do to save a little money? There are plenty of ways that you can get cheaper Denver car insurance that many people don’t think about.

Aside from selling your car and riding a bike, there are still a few ways that you can put a few extra dollars in your wallet. Don’t worry, most of these tips are easy and none of them require you to break any laws.

Raise Your Deductibles

This is one of the easiest ways to lower your car insurance rates, but you shouldn’t do this lightly. Raising your deductibles can save you a significant amount every month, but if you ever have to file a claim, it could come back to haunt you.

In case you aren’t 100% on what a deductible is, it’s the portion that you’ll pay before the insurance company’s policy kicks in. A higher deductible will mean that you have to pay more out-of-pocket if you need to file a claim. But you can save more every month because of the lower premiums.

Take the time to weight your options. You can talk to your insurance representative to see the various deductible options and how they will impact your monthly premiums.

Get Rid of Collision/Comprehensive Coverage on Old Cars

Another way that you can lower your monthly premiums is by reducing your coverage for your car, but this is only a good idea if your car is older. Collision coverage is an optional add-on to your policy and is only beneficial for new or expensive cars.

What is collision coverage exactly? Collision coverage will pay for any damage to your car like if you were to hit a tree. If your car is older, it probably isn’t worth purchasing collision coverage because it’s more than likely going to be considered “totaled” after an accident. More than likely you’ll end up paying more in the coverage premiums than the car is actually worth.

Bundle Your Coverage

Another simple way to lower your premiums is to get all of your insurance policies with one company. Just about every single insurance company offers a multi-policy discount. That means that if you have your life insurance, homeowners insurance, and auto insurance with one company you could get a nice discount every month. If you’re looking to save money every month on your insurance policies, Longevity Brokers can help. Not only do we offer excellent rates on auto insurance, but we also have some of the best life insurance rates and homeowners insurance rates in Denver, CO.

Similarly, if you have more than one auto insurance policy with the same company, you could keep more money in your pocket. If you and your spouse have different auto insurance companies, take the time to switch over your policies and enjoy that newfound money every month. Switching insurance companies is easier and quicker than you might think. Contact us at Longevity Brokers today to start the process and you can start enjoying those bundled coverage discounts in no time at all.

Ask for a Low Mileage Discount

Do you live close to your work or use public transportation a lot? Maybe you don’t travel much with your car. You may be able to save money on your rates based on how many miles you drive every year. Most car insurance companies offer discounts to low mileage customers that.

The threshold to get the low mileage discount is going to vary depending on the insurance company. Ask your representative if you company has any discounts for low mileage customer and you could save hundreds of dollars every year. Each insurance company is different, but most low mileage discounts are around 7,500 miles to 15,000 miles a year. If you don’t drive much, these low mileage discounts can save you hundreds of dollars every year, and all you have to do is ask.

Keep a Good Credit Score

Many consumers don’t know that having a good credit score can actually lower your auto insurance rates. Insurance companies are going to look at your credit score to determine what kind of rates you’re going to receive. Research has shown that people who have a good credit score tend to file fewer claims than those with poor credit scores.

To get a good credit score, make sure that you pay all of you bills on time and avoid maxing out your credit cards. Having a bad credit score will keep you from getting a good loan and will also hurt your auto insurance rates. If you want to make sure you remember to pay your auto insurance bill to help your credit score, you can put your bills on auto-pay. Many companies will even give you a small discount on your bill if you put your payments on an automatic payment system.

Getting lower auto insurance rates

Everyone has to have car insurance, but not everyone has to pay a small fortunate to keep his or her car insured. These are only a few ways that you can lower your car insurance rates to a more affordable point. You shouldn’t have to sacrifice the coverage that you want because it’s too expensive. Doing simple things like eliminating coverage or raising your deductible can make a significant amount on monthly premiums.

If you’re looking for the best insurance rates in the Colorado area, Longevity Brokers is here to help! If you have any questions about auto insurance or you would like to receive an auto insurance quote, we would be happy to talk to you about your insurance needs.

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