When many people begin the search for auto insurance, the primary factor they take into account is the price of each policy. However, while the need to secure cheap auto insurance is certainly understandable, it is equally as important to ensure that you are purchasing quality coverage that will not leave you with huge out-of-pocket expenses in the event that your vehicle is involved in an accident or is damaged in some other way. Thankfully, it is possible to balance your need for an affordable car insurance policy with your need for high-quality coverage. Utilizing the three tips outlined below can help you to accomplish this goal.
Consider Paying For The Policy In Full
Insurance companies routinely give you three options when it comes to paying for your auto insurance policy. These are options are to make monthly payments, to pay in two equal installments, or to pay for the entire policy upfront. Since the insurance company is taking a risk that you will default on the policy when allowing you to pay in monthly installments, there is a convenience fee that is added to your premium in order for you to utilize this option. If you are able to pay for the policy in its entirety up front, you can avoid paying this additional fee.
If you do not have the cash upfront to take advantage of this easy money-saving opportunity, you may wish to consider the use of a credit card to pay the premium. If you have access to a card that offers a no-interest introductory period, using this card to pay for your insurance policy can allow you to still make monthly payments while also avoiding the extra fees that are tacked onto your insurance premium when choosing a monthly payment plan through your insurance company.
Consider Choosing A Higher Deductible
Choosing a policy that requires you to pay a higher deductible in the event you file a claim can result in much lower premiums each month. While you may be worried that these high deductible plans will result in higher out-of-pocket expenses, you will often find that you actually save considerably more over the life of your policy even if you do end up needing to pay the higher deductible. These savings are even more notable if you do not end up needing to file a claim against your policy.
Consider Signing Up For Safe Driving Discounts
Most insurance companies now offer you the ability to prove you deserve a safe driver discount by choosing to download a mobile application on your phone that monitors your driving habits. After a certain period of time has passed, the information collected by the app will be uploaded to the insurance company and used to determine how much of a discount you may qualify for. While participating in this type of monitoring program is completely optional, choosing to take part in this opportunity can save you a ton of cash if you are in fact a safe driver.
For more information on cheap auto insurance, contact a company like Clover Insurance.
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