5 Things that are Far Worse than an Accident on your Insurance
When you hear about car insurance hikes, your mind automatically jumps to the fact that someone may have gotten into an accident. It seems like that’s probably the main reason why insurance has become more expensive each year. I mean if you do think about it there are a few things that are quite obvious, things such as DUI are it pretty obvious one that would affect insurance rates. But did you actually know that a speeding ticket, or even adding a teenage driver can increase your car insurance rate more than what an accident would? Yeah that’s hard to believe, isn’t it?
We have taken all the readily available information out there and compiled it together to give you a list of 5 things that affect your insurance more than an accident on your insurance policy.
- Adding a teen driver to your insurance policy
- Reckless driving
- Bad credit
- Speeding tickets
These are five things that affect your car insurance policy more than an accident. It may fly under the radar with many people but unfortunately, you have to be mindful of these things. But always remember, when something can affect your insurance premium there is also a possibility that you can have it removed. Here are a few tips you can use to combat the 5 above factors to help reduce your insurance hike.
- Shopping around: Just because something bad happens don’t get caught up on the insurance hike and ride it out. You can always shop around to find better rates. Usually, this is the best alternative for many to find lower insurance premiums. Do remember that during this process you are comparing exact coverages to avoid any fluctuations in your prices.
- Fighting the Ticket: One thing is for certain, if you receive a speeding ticket or a ticket for reckless driving, it can significantly impact your insurance premiums. The best method one can take to have this rectified is fighting the ticket. Since having a reckless driving ticket is severe, you definitely take any measures you can to either have the ticket removed or thrown out. In regards to the speeding ticket, if it is your first offense it won’t impact you significantly, but if it is your second defiantly take the same approach.
These are just two methods to help with reducing your insurance premium in the midst of any of the 5 mentioned above affecting you. There are some proactive measures you can take to help reduce your insurance coverage. They are as follows:
- Increasing Deductible: increasing your deductible is a quick way to reduce your insurance policy. There’s no if and or buts, you just call in after increase your deductible and will be able to reduce your insurance premium each month.
- Discounts: taking advantage of the discounts available to you from your insurance company is another way you can reduce your premium each month. You can take advantage of multi discounts, so just bundling or even adding on winter and tire packages.
- Saving on a teen driver: we did say that adding a teen driver can actually increase your insurance premium, but if you don’t take the right steps or methods to do so you won’t be able to reduce your premium. Well, you could do before you add the driver on you can have them take some courses such as defensive driving courses, or even mentioning that their student and they can get a good student discount. Talk to your insurance company and see what other add-ons you can make for teen drivers.