Just Been Hit With a Rate Increase? Two Tips to Help Lower Your Car Insurance

Posted on: 4 January 2021

You never know when it will happen. After happily sailing along for several months or even years with the same insurance company, you receive notice that your premium will go up at the next renewal. The news can come as a major blow because you have likely set your budget around the existing rate and may be unsure of how you'll be able to come up with the difference. The situation may initially throw you for a loop but always know that there are options. Use the tips below to find out what you can do to get a lower car insurance premium.

Trade-In Your Vehicle for a Safer Model

If you haven't recently gotten a ticket, been in an accident or had a significant life change that would cause the rate hike, you're probably wondering why it happened. Although there are several factors that could be at play one reason why your insurance may have gone up could be the type of car you own. Perhaps there have been a string of incidences that other drivers have had with the same make and model you currently possess. This often creates a ricochet effect throughout the insurance industry, causing underwriters to consider those vehicles to be dangerous and therefore increasing premiums to cover the risk.

It may be time for you to consider a trade-in. Getting a vehicle with a better safety rating could severely offset the increase and you could possibly qualify for a lower premium than the one you had before. Consider doing some research to learn about some of the top safety picks. Look through the options to see which ones you like and do a few free online quotes to get a better gauge of what your insurance would be if you made the switch.

Defensive Driving Is Your Friend

Becoming a better driver is good for your safety and your wallet. You may be able to get a discount on your insurance if you enroll in a defensive driver course. The class teaches basic and advanced driving techniques aimed at arming you with the skills you need to avoid accidents while on the road. After you have passed the course and obtained your certificate of completion, forward it over to your insurance agent to see if you can get an immediate discount.

Rate increases can be scary but there are things you can do. Start with these suggestions to hopefully get your insurance premium back to a comfortable level. For more insight, contact car insurance providers.