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How To Make My Monthly Auto Insurance Payments As Low As Possible
Author David Schneider | May 23,2007
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Lots of people come up against the same issue when they are in the market for an auto insurance policy: "How can I get the kind of coverage I really need without spending so much money on my insurance that I won't be able to afford gas, which in turn sort of defeats the purpose of getting a car in the first place?" Yes, it can be a cruel catch-22 that many prospective auto insurance policy holders find themselves trapped in. So much so that you may just abandon the idea of owning a car at all, and choose to either get around on public transportation or bring the old pogo stick out of retirement.
Before you make such a drastic move, it's a good idea to take a deep breath and examine some of the ways in which you can lower your monthly auto insurance rates so that they can be reasonably met. After all, having a car is more than a luxury in most parts of the nation - it's an absolute necessity. With a little practical planning, you will be able to swing the kind of solid insurance premium you deserve. There are two primary things to consider when it comes to auto insurance rates: your car and you. Let's look at each in turn.
The type of vehicle you are looking to insure will have a huge impact on how much you have to pay each month. Obviously, the better shape a vehicle is in, the better shape your wallet will be in after you've written your insurance check each month. But here's the bitter irony: if you had enough cash to buy a brand new car, you would be less concerned about high premiums. On the other hand, if finances dictate that you purchase a used vehicle in less-than-stellar condition, having to pay a higher rate just seems like excessive brutality. But don't give up hope. As long as the vehicle comes with standard safety features like airbags and anti-lock brakes, your insurer will be apt to give you a decent rate. Also, if the car has never been involved in any collisions and generally gets a clean bill of health from the estimator, it's very likely your premiums will be manageable.
Once the status of the car has been considered, it's time to take a long cold look at yourself. What kind of driving record have you accrued during your years on the road? Have you filed an unusual number of insurance claims in the past? Have you racked up a high number of moving violations or, God forbid, a DUI or two? If so, you can expect your monthly insurance rate to reflect these past indiscretions. The more points on your record, the greater a risk you are in the eyes of an insurer - there's just no getting around it.
Even if your record is spotless, you could be looking at sky-high premiums if you've been driving around without insurance in the past. This in itself can qualify you as a high-risk driver, although some charitable insurance companies may cut you a break on the basis of a good record.
All in all, the better shape you and your vehicle are in, the less insurance you'll have to pay every 30 days. It's really that simple. |
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