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It's expensive to own a vehicle. In fact, car owners pay up to $13,000 on car-related expenses each year.

Simple Ways to Reduce Car Insurance Premiums

It's expensive to own a vehicle. In fact, car owners pay up to $13,000 on car-related expenses each year.

Simple Ways to Reduce Car Insurance Premiums

It's expensive to own a vehicle. In fact, car owners pay up to $13,000 on car-related expenses each year. This money gets spent on things like gas, maintenance, registration fees, and monthly loan payments. One more expense that all car owners need to pay is car insurance.

Car insurance rates vary, but in most places across the country, it is usually the most expensive kind of insurance. In fact, it’s even more expensive than homeowners insurance. The good news is, when it comes to car insurance, there are some simple ways to reduce the premium.

Buy Used Instead of New

For those who absolutely need to have a car, buying used instead of new is one way to reduce the costs for car insurance. Car insurance rates usually depend upon the actual value of the vehicle, and since used cars are generally cheaper, the premium will be less expensive.

There is one catch, however, when it comes to buying used. Certain models are at a higher risk of getting stolen, which means for those who want to pay less for car insurance on their used vehicle, they should avoid getting these cars that made the Top 10 Stolen Vehicle List in 2017.

  • 2015 LEXUS BX460 SUV
  • 2007 FORD F350 SD
  • 2016 TOYOTA 4RUNNER
  • 2006 FORD F250

Other vehicles that made the list in previous years include the 2003 Cadillac Escalade, the 2010 Acura ZDX, and the 2000 Honda Civic SiR.

Maintain a Good Driving Record 

Motorists who wear their seatbelt, drive defensively, never text while driving, and don't go over the speed limit, have the potential for being rewarded by paying less for car insurance. In order to receive a good driver discount, most insurance companies will require motorists to have a clean driving record for a set number of years.

To track good driving habits, some car insurance companies offer smartphone apps to help determine how well they drive. If it’s proven the driver does indeed have good habits, they can save anywhere from 5 to 25% on their car insurance premium.

Have Excellent Credit

Credit scores can also influence how much car owners pay for their insurance. Drivers who have a credit score that is considered very good or excellent have the best chance at paying less for car insurance.  A very good credit score is one that is 720 or higher.

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