Calculating an auto insurance premium involves hundreds of factors, including your personal driving record, the type of car you drive, your gender and age, how many cars you insure and much more. Because so many factors are involved, making changes to your driving experience could result in savings on your premium. So what changes can save you money?
- Buy a low-profile car: People who buy sports cars tend to drive faster and more recklessly than people who buy practical, modest cars. You may have heard that red sports cars get pulled over more often and pay more for insurance; this can be true, depending on the insurer, due to the collective driving history of red sports car owners. Apart from driving, sports cars and luxury cars are also frequent targets for thieves. The increased risk of owning an expensive car can result in higher premiums. However, your silver sedan poses less of a risk and may qualify you for a lower premium.
- Safe cars and drivers: Many insurers offer discounts to safe drivers and to drivers who own safe cars. Maintaining a safe driving record is key to getting this discount. The longer you go without tickets and accidents, the less you generally pay for auto insurance. And safe drivers can maintain that record by driving a safe car, which is seen as a less risky investment to insurers. Built-in safety features—alarm systems, side air bags, smart keys etc.—lower your risk of bodily injury and carjacking. It’s simple, the safer you are on the road, the more likely you are to be eligible for a discount on your auto insurance premium.
- Bundling policies: Insuring your car and home with the same insurer gives that company what it wants: your business. Insurers want to encourage you to insure more than one line of business with them, so bundling your policies can qualify you for a discount across your entire insurance portfolio. The most common bundle is home and auto, but you can add nearly anything to your bundle, including multiple cars or any combination of home, auto, RV, boat etc.
Your insurer won’t likely tell you that you’re eligible to save money, so you have to ask first. Speak with your independent agent to determine if you qualify for these and other discounts, such as good student discounts and senior discounts.
Ask an agent about premium discounts today. Call Ken May Insurance Services at 888-724-2086 for more information on Carlsbad auto insurance.