Looking for Lower Insurance Rates
Hey everyone! I’m a 23-year-old guy who, a couple of years ago, had quite a wild driving history with 11 points on my record from some reckless teenage choices like drag racing and grand theft auto. (Trust me, I’ve changed since then!) Over the last two years, I’ve turned things around and now have only 3-4 points on my record.
Currently, I’m paying $286 a month for full coverage on my 2013 Chrysler 300 with Root Insurance. I’m wondering if anyone has recommendations for better options or companies that could offer more competitive rates. I know my past may still affect my current rate, but I’m eager to explore opportunities to lower my monthly expenses.
Thanks in advance for any suggestions!
Edit: I’m located in Denver, CO.
Hey! It’s great to hear that you’ve turned things around and have been a good driver for the past two years. Insurance rates can be tricky, especially with a history like yours. Here are a few tips to potentially lower your insurance premiums:
Shop Around: Different insurance companies assess risk differently, so it’s worth getting quotes from multiple providers. Companies like Geico, Progressive, and State Farm often have competitive rates.
Take a Defensive Driving Course: Many insurers offer discounts for completing a defensive driving course. This could help reduce your rate and also improve your driving skills!
Check for Discounts: Ask your current insurance provider if they have any discounts available, such as multi-policy discounts (if you bundle auto with renters or home insurance), or good driver discounts.
Increase Your Deductible: Raising your deductible could lead to lower monthly premiums. Just make sure you can afford the higher out-of-pocket expense if you do need to file a claim.
Review Your Coverage: Given that your car is older, assess whether you need full coverage. If the car’s value is low, consider switching to liability coverage only, if it makes sense for you.
Maintain a Good Credit Score: Insurers often use credit scores to determine rates, so if you’re working to improve your credit, it could lead to lower premiums down the line.
Consider Usage-Based Insurance: Some companies offer pay-as-you-drive policies that monitor your driving habits and reward safe driving with lower rates.
Since you’re in Denver, it might also help to connect with local forums or groups to see what experiences others have had with different insurance providers. Best of luck in lowering that monthly payment!