During your early years of driving, your car insurance premium will probably cost more on average. This is because younger, single drivers have higher operating risks that require more investment from insurers. Yet, since you are young, you are probably on a budget and you want to keep your premiums as affordable as possible. What are some factors you can do to improve your premiums?
Sometimes, you have little control over factors influencing your insurance premiums. Still, opportunities do exist to help you keep rates at a level you can afford.
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How To Influence Your Rates
Car insurance rates vary from driver to driver. Individual rates depend on risk profiles compiled by insurance providers.
The average Gainesville driver will pay around $961 per year. Your rate will likely vary based on such factors as the vehicle you drive, your driving history and even your location. While you can't influence some of these factors, you can influence others. Consider just a few actions you can take to keep rates lower.
- Don't buy the most expensive car on the market. Costly vehicles, and those with special modifications, often raise your risks and premiums. It's often best for young people to err on the side of practicality rather than bells and whistles.
- Keep the car in good condition. Budget to be able to afford regular oil changes, tire rotations and battery repairs. Doing so might reduce the risk of significant vehicle damage and accidents.
- Pay your full premium in full, rather than in installments. Many insurers offer reduced rates for those who pay in-full.
- Increase your policy's deductibles. Your deductible is your own financial responsibility for a claim. By raising it, you shift some of the risk away from the insurer.
- Invest in telematic systems. Telematics are small devices you place in the car to track your driving habits. They send information back to your insurer. The insurer can more directly determine your exact premium.
- Install safety features on the vehicle. Some insurers offer discounts for this. For example, enhanced alarms or steering wheel locks might qualify you for lower rates.
Of course, don't forget two cardinal rules of auto insurance. Drive safely, as that will reduce your risks of accidents and claims. And, work with your insurer to set appropriate policy limits.
You are required to carry coverage by law. However, you do have the ability to increase and adjust it to your satisfaction. Contact Ahrens Insurance Agency to review your coverages today and see if you have the right coverages for your specific needs.
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