Although required by law, auto insurance can be a financial burden for many. High monthly payments can make saving money or paying off other bills difficult. But there are ways you can lower your monthly auto insurance premium. Choosing the right plan, safe driving, and knowing when to submit a claim can all help influence your payments. At Roadway Auto, we stand committed to helping Maryland drivers meet the legal requirements without straining their financial resources.
Tips for Lowering Monthly Premiums
There are many factors that influence your monthly payments. The most influential, however, is your risk factor. Certain drivers are considered ‘higher-risk’ due to things like age, driving history, or even place of residence. While some things are out of your control, there are ways you can help lower your risk factor and lower your premiums.
Practice Safe Driving
Accidents remain one of the leading causes of higher monthly payments. Even if the accident wasn’t your fault, you could still see a higher premium just for submitting a claim. Therefore, it’s always a good idea to practice safe driving methods. This means not only following the speed limit and making sure you use your blinkers but also staying aware of other drivers. If someone appears to be speeding or driving recklessly, it may be a good idea to distance yourself from them to reduce the risk of an accident.
Store Your Car Safely
Although theft and other prevention insurance aren’t required, they can be a good policy. Unfortunately, some areas are at a higher risk of damage or theft. And if you live or work in these places, your insurance could cost more. Investing in a security measure (such as paying for a garage space or installing anti-theft devices in your vehicle) could help reduce your risk and lower your monthly payments.
Avoid Smaller Claims
Any kind of claim can increase your premium. And, depending on your deductible, you may not even get any money from smaller incidents. Check to see what kind of coverage you have before making claims on minor accidents or damage. It may be best to just pay the cost of repair out-of-pocket and reduce the risk of raising your premium.
Choose the Right Insurance Plan
While you are required to meet a certain insurance threshold, there are many different plans and options available for your insurance. High deductible plans may be less beneficial in the case of an accident, but they often have lower monthly payments. You may also be able to bundle different insurance plans together to help condense your monthly payments. Picking out the right plan is often key to keeping your monthly payments low.
Get Insurance With Roadway Auto
At Roadway Auto, we are ready to help Maryland drivers get the insurance they need at a price they can afford. If you want to lower your monthly auto insurance premium, we could be able to help. Call us today at 301.476.1183 to learn more about our insurance policies and get started on finding the right insurance plan for you.