“You’re right, car insurance can be pricy! Fortunately, you can find lower quotes—and position yourself for better rates—several ways. Here’s how:
- Shop around
- Drive a modest vehicle
- Explore discounts
- Improve your credit score
Auto insurance rates vary from company to company so it would be wise to shop around and get at least three price quotes.
In addition, keep in mind that car insurance
premiums are typically calculated based on a car’s:
- Repair costs
- Overall safety record
- Likelihood of theft
That means a more modest vehicle will cost less to insure. Since you just bought a house, you’re probably not looking to buy a different car—but it’s something to keep in mind the next time you do!
Exploring discount programs
is another way to lower your premium. If you are a student, a new driver, or an adult with no accidents or violations for a number of years, you might be able to pay less for car insurance. Discount availability varies by provider——ask an agent or do some research online to find out what you may qualify for.
And in case you have not bundled
your home and auto insurance
yet, doing so is a great way to rack up further savings.
Lastly, research shows people with good credit history have fewer claims. That’s why your credit score is factored into your insurance rate. Drivers with great credit earn lower premiums, so pay your bills on time and get that credit score up!
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