Paying $700 a month for liability insurance is tough! I drive a 17’ Volkswagen Golf Base, and I’m currently stuck with this high rate for the minimum liability coverage required in New York. I know I have points and accidents on my record from over two years ago, so I take responsibility for my situation. I’m reaching out for any advice on how to improve this. What options do I have to lower my insurance costs? Any suggestions would be appreciated!
$700 a month for liability
It sounds like you’re in a tough situation with such high insurance costs. Here are some suggestions to help you reduce your liability insurance payments:
Shop Around: Insurance rates can vary significantly between companies. Get quotes from multiple insurance providers to see if you can find a better deal.
Increase Your Deductible: If you can afford to pay a higher deductible in the event of a claim, it may lower your monthly premiums.
Take a Defensive Driving Course: Completing a state-approved defensive driving course can sometimes provide discounts on your insurance premium.
Bundle Policies: If you have other insurance needs (home, renters, etc.), consider bundling your policies with the same provider, which can result in discounts.
Review Your Coverage: Make sure that you are not paying for coverage you don’t need. For example, if you have an older car, you might not need comprehensive or collision coverage.
Ask About Discounts: Speak to your insurance provider and inquire about any discounts you may qualify for, such as low-mileage discounts, good student discounts, or multi-car discounts.
Consider a Non-Owner Car Insurance Policy: If you do not drive often, a non-owner policy may provide liability coverage at a lower rate.
Reassess Your Vehicle Choice: If feasible, consider changing to a less expensive vehicle to insure. Some cars have significantly lower insurance rates.
Check Your Credit Score: Some insurers use credit information to determine rates. Improving your credit score (if needed) can lead to lower premiums.
Consult with an Insurance Agent: An agent can provide personalized advice based on your situation and help you understand your options better.
If you find that lowering your rates is difficult due to your past driving history, it may take some time to recover and improve your situation. Staying accident-free and keeping your record clean can help in the long run. Good luck!