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How to Keep Your Insurance Costs Low

If you’re shopping for insurance, chances are, you’re looking for the best price possible. Insurance prices depend on a large number of factors including your driving history, the type of car you are driving, where you live, deductible levels, and more. To help you in your hunt for affordable insurance, Bayside Insurance has compiled a list of things you can do to keep your monthly insurance premiums lower.

Maintain Good Credit

Most people do not consider their credit score when shopping for car insurance–instead thinking it is all about their driving record. This, however, is a mistake. Most insurers use your credit information to price insurance policies. According to the III, people that effectively manage their credit, generally have fewer insurance claims filed. Keep your credit in good standing by paying your bills on time, keeping your debt to credit ratio at an acceptable level, and regularly monitor your credit report for suspicious activity.

Bundle Insurance Packages

Most insurance companies offer bundling discounts if you purchase more than one insurance claim from them. For example, if you purchase both auto and homeowners insurance from the same provider, you will often receive a discounted rate.

Reduce Coverage on Old Cars

Over time, it may make sense for you to drop coverage like collision or comprehensive coverage on older cars. If your car is worth less than 10 times the premium, purchasing these types of coverage may not be cost effective.

Request Higher Deductibles

If monthly costs are a concern, requesting higher deductibles will result in lower monthly costs. This is only recommended, however, if you have adequate savings available to meet the higher deductible levels. Carrying high-deductible insurance, but not being able to pay the deductible does not provide any value. Going with a high-deductible plan, while not for everyone, can sometimes save policy holders up to 40 percent on their monthly premiums.

Shop Around

You are constantly bombarded by radio and television ads from large national providers telling you how much they’ll save you on your insurance policy. The only way to know for sure is to shop around. Going with a local insurance company like Bayside Insurance may help you realize savings over large national providers spending millions of dollars on radio and television ads.

Be Informed About Offered Discounts

Insurance companies often offer discounts if you are a low mileage driver, you work for a partner organization, you’re a student, a veteran, or a number of other things. Check with your insurance company to see if you fall into any of the categories that are eligible for discounts. Sometimes these discounts may not amount to much, but in some cases they may help you realize significant savings.

Request a Fast, Free Insurance Quote Today

These are just a few common ways to help keep your insurance costs in check. If you are shopping for car insurance in Maryland or other states in the Mid-Atlantic, give Bayside Insurance a call today or request a quote online.

Bayside Insurance has been providing the Annapolis and Upper to Mid Eastern Shore areas with the highest quality insurance products since 1977. With our automotive insurance plans, we offer:

  • Customization to fit your specific needs
  • Over 35 years of industry experience
  • Stress free, no-hassle customer service
  • Superior insurance packages that are unequalled in the industry
  • Quality, professional, and knowledgeable staff

To discuss automotive insurance packages with one of our agents, request a quote online.

 

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