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Lower Your Auto Insurance Rates After a Speeding Ticket That simple speeding ticket has a larger and longer effect than just points on your license and a fine. You can expect a change in your insurance premiums as well.
For an insurance company to extend coverage to an individual they calculate the risk you pose to them of losing money. A speeding ticket tells them that you participate in risky behavior, even if it is your first ticket ever, and as such they will implement methods to protect a future financial loss by raising your premiums.
There are ways to avoid or off set this predicament. Begin by looking at your car and auto policy, cut the items you do not need from it. For instance, if your vehicle is old or paid off think about dropping the collision or comprehensive coverage from your policy. If you have towing service with your auto insurance policy check the cost, it may be wise to get it elsewhere or you may already have it through one of your credit cards. Do not pay for duplicate coverage, such as medical insurance.
Raise your deductible, this is the out of pocket expense you must cover before the insurance company will start to pay for damages or repairs and will directly lower your premiums. Package your insurance policies, many companies offer a discount if you maintain more than one type of policy with them, such as auto and home or renters insurance. Change the way that you pay for your policy, in other words, if you pay monthly, change to annually, this will often give you a small discount.
Consider driving classes. Many states offer a point reduction or waiver if you attend and pass driving courses. Some insurance companies will offer discounts for verifiable participation in these driver improvement sessions as well. Drive less. Get in the habit of carpooling or taking public transportation to maximize the benefit of low mile policy discounts offered. Develop or maintain good credit, this is a vital part of your overall risk assessment with insurance companies, and will help in every other aspect of life as well.
When in doubt sit down with your insurance agent and discuss in detail each part of your policy and create a plan that works for you.
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