If you could find ways to lower your monthly expenses, wouldn’t you want to know them? Although there are those costs that remain the same every month, there is something you can change with a bit of work.
One of those expenses, although many may think it’s fixed, is your monthly car insurance premiums.
Many factors contribute to the price of your car insurance, some which are within your control. So, if you start to calculate how much you’ll pay for auto insurance in Montreal and realize it’s going to be expensive, consider the following tips to help you lower your premiums.
Have a Clean Driving Record
What’s going to be one of the biggest reasons why your monthly premiums would increase? Having a poor driving record.
If the insurance company finds that you’re continuously in accidents, they’re going to want to protect themselves by charging you higher monthly premiums. That means, then, to drive carefully and smartly. Pay attention to road conditions and the weather, and avoid distraction at all costs.
Consider the Vehicle You Drive
Your vehicle affects your premiums. If the insurance company finds that you’re driving a car that has a high theft rate, you’ll like have higher premiums. The insurer doesn’t want to risk having to pay the policy for a vehicle that is commonly stolen.
If you’re looking at a new vehicle, consider the theft rate. If you do not want to change vehicles, install an anti-theft device that is approved by your insurance company.
If you can reduce the amount of time you’re behind the wheel of your vehicle, that too will also affect your monthly premiums. The more you drive, the more you’re at risk for an accident. If you can opt for taking public transit or carpooling to work and other destinations, you may have a chance of reducing your rates.
Choose a Higher Deductible
Although you run the risk of having to pay more if you increase your deductible, you will have lower monthly premiums. Budgeting for a higher deductible will help cover the cost if you end up in an accident. That way, you won’t be caught off guard, and you can enjoy the lower monthly premiums.
Ask About Discounts
It never hurts to ask if your insurer has any discounts for your policy. There may be discounts for you that you never realized were available. You may be surprised by what you find out.
Unfortunately, there are factors that are out of your control when it comes to car insurance. Your age and gender are two factors that will either increase or lower your premiums. Women tend to have lower premiums than men, and younger drivers will have higher premiums than older drivers.
Your marital status and where you live also contribute to your premiums. A study found that married people were in fewer accidents than single people. If you live in a location that is highly populated and sees accidents frequently, you’re likely to have higher insurance rates.