When it comes to insurance, it can be difficult to get extensive coverage for a lesser monthly premium. The normalcy of lowering your premium would involve lowering the amount of coverage you have. However, establishing a long history with your insurance company is the first step in getting the amount of your monthly premium reduced. Car insurance is a perfect example of this. When you turn 18 and get your own car for the first time, your monthly premiums will be through the roof. But once you establish a great driving record with minimal to no accidents by the time you turn 25, you will see a dramatic decrease in your monthly premium amount. Not only will you still get the same coverage you had before, but you may even get additional coverage for a lower price. The reason for this is because it tells the insurance company that you are responsible and not a risk for getting into an accident. Therefore, they reward you by lowering your premium amount and offering you additional coverage.
nw5cy7otgwiv-r1280x0According to Australian insurance company called Youi, another great way to pay less for your insurance is to combine multiple types of insurance together, like car and home insurance. If you get coverage for both of these insurances with the same company then they are likely to lower your premiums for both as a reward. Also, you should research additional discounts available for things like being a senior citizen or having safety devices installed in your car, such as an anti-theft device. Something like that tells the insurance company that your property will less likely be stolen and they won’t be at risk to having to compensate you for its theft. Also, pay attention to what you filled out on your insurance application.


Do you remember seeing a question for something like, “How will you use your vehicle?” Most people put that they use their car for going to work. That will raise your premium because most accidents happen around 5PM during rush hour. So, if you take public transit for going to work then you can just put that you use your car for personal use. That will lower your premium considerably. Also, who is driving your car? If you are the sole driver of your vehicle then don’t put any extra drivers on your policy because you will be paying for additional coverage that you don’t need.  These are the types of things you need to look for to lower your premiums while increasing the amount of coverage you can get.