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3 Tips To Avoid Spending More Money on Insurance Premiums

3 Tips To Avoid Spending More Money on Insurance Premiums

Every U.S. state except for New Hampshire and Virginia requires car insurance, so you’re probably saddled with some unwanted payments each month. With these tips to avoid spending more money on insurance premiums, you can keep those costs down and stop them from skyrocketing.

Drive Safely

Everything that can go wrong on a drive can increase your car insurance. Go the speed limit and never drink and drive to steer clear of points on your license. A DUI can increase your insurance rates by over $1000 per year, so prioritize staying sober on the road. After a speeding ticket, you can expect your bill to go up by 25 percent.

You can’t always avoid accidents, and they can increase your insurance by almost 50 percent. Whether or not an accident is your fault, you’ll likely find your premiums climbing. Stay on high alert while driving, especially when you’re on your way home after a long trip. Most car accidents occur when a driver is five minutes from their house, so don’t get lazy just because you know the area.

Pay on Time

Overdue insurance bills are another reason car insurance companies will raise your rates. Thankfully, this goes both ways. Many car insurance providers will lower your rates over time if they see consistent, on-schedule payments, so keep an eye out for companies offering those benefits and make sure you pay on time. Paying late could cause other problems, too: you could see a lower credit score and even a loss of benefits.

Grow Up

Insurance premiums are much higher for drivers under the age of 25. If that’s you, you’re not out of luck! Keep driving safely and, as you age, your car insurance bill will steadily decrease. Insurance companies make you pay those higher rates because they don’t know if they can trust you yet. Prove that you’re responsible enough to stay behind the wheel.

These tips to avoid spending more money on your insurance premiums all boil down to staying safe and being smart. That’s easier said than done, but getting somewhere fast isn’t worth losing your car or going into debt. You can do this!

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