5 Reasons Why Your Car Insurance is Expensive

Why Car Insurance is Expensive

Driving a luxury sports car, like this Bugatti Veyron, may be one reason why car insurance is expensive for you.

If you are trying to cut expenses in your household, there is no better way to save money than to get one of your most important expenses trimmed down—your car insurance costs.

First, you will need to identify why car insurance is expensive for you. Once you do, you can start working on getting your rates reduced with your current company or switch insurance carriers altogether.

  1. You have tickets for moving violations.
  2. Getting speeding tickets or being cited for running a red light can impact your car insurance rates, and not in a good way. These tickets will not only stay on your driving record for years, but you will also pay more for car insurance because of them, too.

    While you can’t change the past, you certainly can help yourself pay less for car insurance in the future by avoiding getting moving violation tickets in the first place.

  3. Your teens are driving.
  4. If you have your teens on your car insurance policy, there is no doubt why car insurance is expensive for your family. In fact, male teen drivers are the most expensive drivers to insure.

    If you want to pay lower car insurance rates, and keep your teenagers on your car insurance policy, consider having them take a safe driving course. Many insurers offer discounts for taking this course. Some even offer discounts for good grades or just for being a student. Speak to your current or prospective insurers about any discounts your teen driver may qualify for.

  5. Your car has no safety features.
  6. When you drive a safe car, insurers will reward you for it. Features such as daytime running lights, airbags, and anti-lock brakes are just some of the many safety features that insurers offer discounts for.

    Having anti-theft devices installed on your car will also help lower your rate. These devices can include a LoJack, car alarm, On-Star, and more.

  7. You own a high-end vehicle.
  8. Expensive cars will cost more to insure, and for obvious reasons. Not only are they expensive to repair if damaged, but high-end vehicles will also cost more to replace if stolen. If you reside in an area where vehicle theft is common, that could also play a huge role in your auto insurance costs.

  9. You do not take advantage of all of the discounts available to you.
  10. There are so many discounts available to drivers these days, yet many are not taking advantage of them. If you are a student, a safe driver, a senior citizen, retiree, resident student, or in the military, there are several insurers that offer you discounts because of it.

    Sometimes, folks will need to pay higher insurance rates because of reasons beyond their control, but don’t pay higher car insurance rates if you do not have to. If your current insurer will not work with you, shop your rates around now that you know why car insurance is expensive. You will be surprised just how much money you may be able to save on your auto insurance just by doing so.

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