One of the most effective ways to reduce your car insurance premiums after a ticket or an accident – or any other time – is by getting rid of your collision coverage. Though this strategy can leave you liable to pay for the repairs to your vehciles if you are involved in an accident in the future, it will certainly reduce your rate and make it more affordable. If you do decide to go this route, keep in mind that you can add collision coverage again whenver you decide you want it back.
Another way to reduce your premiums after an accident or ticket is by increasing your deductible, or the amount you pay after a claim has been filed and before your insurance gets to work. Increasing your deductible could significantly lower the amount you pay on your premiums each month. However, before you decide on this option, make sure you determine if you are able to shell out more money in the event that you do get into an accident in the future.
Most auto insurers offer discounts to their policy holders. Some car insurance discounts that may be available to you include low mileage driving (you drive less than 5,000 miles a year) and a loyal customer discount. Don’t be afraid to ask about any discounts that you might be able to take advantage of. If you are eligible for them, you could save quite a chunk of change.
Another way you can lower your car insurance premiums after an accident or a ticket is by shopping around for a new policy. Many people are under the assumption that once they are involved in a collision they are ticketed that all insurance companies will slam them with high rates. That’s not necessarily the case.
Do some research to find out if there is another provider who is willing to offer you a lower premium, regardless of your accident or ticket. Remember that car insurance companies are eager to attract new customers, and one way they can do that is by offering the best price possible.