5 Tips For Getting The Cheapest and Unique Car Insurance Premiums

Unique car insurance

Mandatory in 49 states, car insurance is just one of those things you have to have in order to own and operate an automobile. That doesn’t mean you shouldn’t shop around for the best available rates, as not all companies operate in exactly the same way. Using an insurance broker like Unique Car Insurance is the easiest way to shop multiple rates at once. The difference between any two carriers can be hundreds of dollars a month, so it’s a saving you can’t afford to overlook. 

Everyone’s financial situation is different. Some people want the peace of mind that comes with having expansive full coverage, while other people want to get by with the lowest possible monthly premium they can find. Insurance is all about transferring some of your risk to another party in exchange for money. So, how much risk are you willing to keep and how much do you want to give away? Here are 5 ways you can lower your monthly premiums. 

  • Check Insurance Costs When Buying a Car

Why not start at the beginning? The car you drive is a big part of what determines the premiums you pay. If monthly premiums are important to you then add insurance costs as a research item when picking out a car to purchase. Newer and more expensive cars cost more to insure. Insurance companies are all about statistics and they know exactly which cars get into more accidents, cost more to fix, or get stolen more often. All of these things also factor in the cost of premiums. 

  • Shop Around and Compare Rates

As we said, not all companies charge the same rates. Shop around and compare the base rates and discounts offered at different companies. Using a trusted broker like Unique Car Insurance can help you get the best possible deal. 

  • Pay on Time and Use Auto-Draft

Insurance companies love it when people pay on time, late payments cause a lot of extra paperwork and manpower. They are happy to pass on some of their savings to you in the form of a discount if you pre-pay your premiums a year in advance or select a monthly auto-draft from your checking account. With autopay, you never have to worry about late payments and you can get a hefty discount. As a side note - pay all your bills on time, as a lower credit score, in general, can also lead to an increase of 100’s of dollars in your auto premiums. 

  • Look for Discounts

What makes one car company different from another often comes down to what discount packages they offer. Some companies put an emphasis on safe driving and others on bundle deals or affiliations. While comparing companies and shopping around, make a note of all the discounts each one offers and see how many apply to you. Common discounts include: 

  • Safe Driver / Clean Record 
  • Affiliations (Military, Job, College, Etc.) 
  • Bundle Deals (home and auto for example) 
  • Auto-draft or Pre-pay
  • Anti-theft Devices
  • Defensive Driving Classes 
  • Age (young drivers cost more to insure) 
  • Be a Safe Driver 

Another huge factor in calculating premiums is your personal driving record. This includes past claim history, accident reports, and tickets. If you’ve had multiple accidents or tickets in the past it can take a long time for those things to stop affecting your premiums. Your best bet is to always drive the speed limit, obey all traffic rules, and practice defensive driving to avoid accidents. 

  • Get a Higher Deductible 

If you think your chances of getting into an accident are low you can elect to take a higher deductible in exchange for a lower premium. This is a little riskier, in effect you are betting that you will never get into an accident. You can enjoy the lower out of pocket cost each month but should you get into an accident and need to pay for repairs you should have the amount of the deductible tucked into your savings account so you don’t end up without a car to drive. This is a great option for low-risk drivers, like people who don’t drive very often, for example.

Bonus tip: if you drive an older or less expensive car you can forgo full coverage and get liability coverage only. Liability coverage only covers the other party in the event you cause an accident, it doesn’t provide protection for your own injuries or property. However, this could be a good option for people with inexpensive vehicles they don’t drive that often.

Many factors go into figuring out what an individual’s auto insurance premiums will be. Some things will be more within your control than others. If low premiums are necessary for your budget then make sure to keep all the above factors in mind when buying a car and shopping for unique car insurance.