5 Effective Ways to Lower Your Car Insurance Rates in Glendale & Peoria
We all understand the importance of having insurance—especially car insurance, which keeps you protected in the unfortunate event of an accident. Despite being a necessary expense, the cost of car insurance in Glendale & Peoria, Arizona, and the rest of the state has been on the rise, leading many to search for ways to lower their premiums without sacrificing the quality of their coverage.
In this blog post, we will discuss five effective methods you can apply to significantly reduce your car insurance premiums in Glendale & Peoria, AZ. Plus, we will back each solution with statistics and expert opinions—so you can make an informed decision and start saving your hard-earned money today.
1. Improve Your Driving Record
Maintaining a clean driving record is one of the most impactful ways to reduce your insurance premiums. The Arizona Department of Insurance reports that safe drivers can save up to 26% on their car insurance rates. To improve your driving record, consider taking a defensive-driving course or review the state's traffic laws to ensure you are obeying them. Remember, a better driving record equals lower insurance rates.
"Safe drivers are less risky for insurance companies, resulting in lower premiums," explains Robert Lajdziak, a consultant at J.D. Power.
2. Increase Your Deductible
Raising your deductible—i.e., the amount you pay before the insurance coverage kicks in—is another way to lower your insurance costs. According to the Insurance Information Institute, increasing your deductible from $200 to $500 could reduce your comprehensive and collision coverage cost by 15% to 30%.
Laura Adams, a personal finance expert, says, "Consider raising your deductibles to save money on your premium without sacrificing your protection in the event of a claim."
3. Bundle Your Policies
Combining your auto insurance with other policies, such as homeowners or renters insurance, can lead to substantial savings. The National Association of Insurance Commissioners (NAIC) found that policyholders who bundle their insurance can save an average of 12% on their premiums.
"Bundling policies is a simple way for consumers to save on insurance costs and enjoy the convenience of having their policies in one place," notes Michael Barry, vice president at the Insurance Information Institute.
4. Take Advantage of Discounts
You may be eligible for various discounts that can help reduce your auto insurance premiums. Some common discounts include those for students with good grades, military personnel, and retirement-age drivers. In fact, the Arizona Department of Insurance reports that qualifying for certain discounts can save you up to 35% on your car insurance rates.
"Customers should discuss possible discounts they may qualify for with their insurance agent or company," says Elizabeth B. Kolar, a risk management and insurance expert.
5. Install Anti-theft Devices
Protecting your car from theft not only keeps you secure but can also lead to lower insurance rates. The Federal Bureau of Investigation states that installing anti-theft devices can reduce the risk of theft by 50%. As a result, many insurance companies offer discounts for vehicles equipped with these safety devices.
"Anti-theft devices help to reduce the risk of loss, making them valuable not only for car owners but also for insurers, who pass on the savings to their policyholders," states James Lynch, chief actuary at the Insurance Information Institute.
As an Independent Insurance agency we can shop for the best rates for your situation. Let Gilkey Insurance help you lower your car insurance rates by requesting a quote today!